Exports in Latin America and the Caribbean stagnate for the third consecutive year and these would just grow a 0.8% in 2014, according to ECLAC.

The Executive Secretary of ECLAC, Alicia Barcena (center), the Director of the International Trade and Integration Division , Osvaldo Rosales (center), and the Deputy Executive Secretary of ECLAC, Antonio Prado (left) participate in the presentation of the evolution of international trade in Latin America and the Caribbean in 2014, in the ECLAC headquarters in Santiago (Chile). EFE

Exports from Latin America and the Caribbean stagnate for the third consecutive year and will grow 0.8% in 2014, due to a steady growth of exports from the region and a slight drop in imports to 0.6%, according to a report by the Economic Commission for Latin America and the Caribbean (ECLAC).

Added to this, the decrease in the prices of various commodities exported by the region, mainly mining products, according a report by the “Outlook of the International Integration of Latin America and the Caribbean 2014”.

The document states that exports of Mexico and Central America will be more dynamic in 2014, an increase of 4.9% in value as a whole, linked to better performance of the United States, while Mercosur foreign sales will have a drop of 2,3%.

The growth of exports of is led by Paraguay, with 14.1%, followed by Uruguay with 13.6%, Ecuador 9.3%, Bolivia 8.6%, Nicaragua 7.4%, Guatemala, 6.7%, Mexico and Cuba 4.9%.

While Peru’s exports will drop by 10.6%, the Dominican Republic’s by 7.1%. Argentina by 5.2%, Brazil 3%, Colombia 1.8%, El Salvador 1.5%, Chile 1.2% and Venezuela 0.8%, details the body.