The value of exports from Latin America and the Caribbean (LAC) started to recover in 2016, and increased a notable 13.2% year-on-year in the first half of 2017. The regional recovery, however, was driven by a volatile increase in prices associated with a fragile expansion of export volumes, concentrated moreover in a few economies. Despite the recent trend reversal, in a medium-term perspective, the region has lost participation in several markets, particularly the intraregional one, and mostly due to low competitiveness. Coming out of the longest trade recession in its recent history, LAC faces a global scenario in which the tailwinds that sustained the pre-crisis growth have run out, and uncertainty regarding access to external markets has increased.
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