ECLAC Warns Exports In The Caribbean Face Slowdown

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Published on Tuesday, 18 September 2012 11:25

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(Jamaica Gleaner):  The Economic Commission for Latin America and the Caribbean (ECLAC) has warned that foreign trade in the region will suffer from the global economic slowdown that started in the second half of 2011.

In its annual report, released on Thursday and titled, Latin America and the Caribbean in the World Economy 2011-2012, the UN organization states that the current recession in Europe, the lack of economic dynamism in the United States and Japan, and the modernization in China and other emerging economies, will affect trade in the region.

The report says that regional growth in 2012 will be 20 percentage points lower than expansion rates shown last year. It states that the value of regional exports will increase by four per cent in 2012, whereas imports will grow three per cent.

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