It has been found that the volume of trade between Korea and Latin America has grown at an annual average of 17 percent since 1990 with Korea purchasing a variety of products from the continent. According to the Inter-American Development Bank’s recent report on the current status and future prospects of economic cooperation between Latin America and Korea, the volume of trade skyrocketed from US$3.8 billion to US$54 billion between 1990 and last year while the annual average growth rate stood at 7 percent between Latin America and Japan and 14 percent between Latin America and East Asia.

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Topics: FOREIGN DIRECT INVESTMENT (FDI) ECONOMIC GROWTH INTER-AMERICAN DEVELOPMENT BANK (IDB)

Regions: LATIN AMERICA AND THE CARIBBEAN (LAC)

Authors: BUSINESS KOREA