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Latin America & Caribbean Trade Summary

2023

Latin America & Caribbean exports, imports, tariff by year.

Country and Region
Year
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Please note the exports, imports and tariff data are based on reported data and not gap filled. Please check the Data Availability for coverage.

Imports/Exports


Products

TRADE SUMMARY FOR LATIN AMERICA & CARIBBEAN 2023

Overall Exports and Imports for Latin America & Caribbean 2023

Exports and imports of Latin America & Caribbean in 2023 are below, along with number of countries and products

  • The total value of exports (FoB) was 1,365,806 million.
  • The total value of imports (CIF) was 1,371,961 million.
  • At the HS6 digit level, 4,503 products were exported to 232 countries and 4,634 products were imported from 236 countries.

Latin America & Caribbean top 5 Export and Import partners 2023

Top five countries to which Latin America & Caribbean exported in 2023 are below, along with the percent of total exports that went to that country:

  1. Latin America & Caribbean exports to United States worth US$ 599,974 million, with a partner share of 43.93 percent.
  2. Latin America & Caribbean exports to China worth US$ 192,795 million, with a partner share of 14.12 percent.
  3. Latin America & Caribbean exports to Canada worth US$ 31,247 million, with a partner share of 2.29 percent.
  4. Latin America & Caribbean exports to Brazil worth US$ 31,166 million, with a partner share of 2.28 percent.
  5. Latin America & Caribbean exports to Unspecified worth US$ 28,166 million, with a partner share of 2.06 percent.

Top five countries from which Latin America & Caribbean imported goods in 2023 are below, along with percent of total imports that came from the country :

  1. Latin America & Caribbean imports from United States worth US$ 423,343 million, with a partner share of 30.86 percent.
  2. Latin America & Caribbean imports from China worth US$ 272,796 million, with a partner share of 19.88 percent.
  3. Latin America & Caribbean imports from Brazil worth US$ 62,376 million, with a partner share of 4.55 percent.
  4. Latin America & Caribbean imports from Germany worth US$ 48,488 million, with a partner share of 3.53 percent.
  5. Latin America & Caribbean imports from Japan worth US$ 37,515 million, with a partner share of 2.73 percent.

Latin America & Caribbean Top 5 Productsexports imports at HS 6 digit level 2023

The top five exported HS 6 digit level products to world by Latin America & Caribbean along with trade value are:

  1. Latin America & Caribbean exported Petroleum oils and oils obtained from bituminou , worth 103,033,147.69 (US$ Thousands).
  2. Latin America & Caribbean exported Soya beans , worth 58,339,940.73 (US$ Thousands).
  3. Latin America & Caribbean exported Copper ores and concentrates , worth 55,828,452.85 (US$ Thousands).
  4. Latin America & Caribbean exported Automobiles with reciprocating piston engine di , worth 31,227,293.91 (US$ Thousands).
  5. Latin America & Caribbean exported Non-agglomerated iron ores and concentrates , worth 30,428,636.11 (US$ Thousands).

The top five imported HS 6 digit level products from world by Latin America & Caribbean along with trade value are

  1. Latin America & Caribbean imported Petroleum oils, etc, (excl. crude); preparation , worth 108,133,197.45 (US$ Thousands).
  2. Latin America & Caribbean imported Transmission apparatus, for radioteleph incorpo , worth 33,891,324.49 (US$ Thousands).
  3. Latin America & Caribbean imported Monolithic integrated circuits, digital , worth 29,564,715.33 (US$ Thousands).
  4. Latin America & Caribbean imported Petroleum oils and oils obtained from bituminou , worth 21,353,908.55 (US$ Thousands).
  5. Latin America & Caribbean imported Parts and accessories of automatic data process , worth 21,088,619.83 (US$ Thousands).

Exports and Imports of Product Groups 2023

Exports and imports of products by stages of processing in 2023 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2023

Tariffs imposed by Latin America & Caribbean in 2023 are below

  • The maximum rate of tariff in percentage on any product was 1,186.80 percent.
  • The simple average tariff across all products was 6.82 percent.
  • The trade weighted average tariff was 3.86 .
  • The total duty free imports in thousands of US dollars were 740,381,032.54 and duty free tariff line items share was 49.14 percent.

Development Indicators 2023

Key Development Indicators of Latin America & Caribbean in 2023 are below

  • Latin America & Caribbean GDP in current US dollar was 7,127,805 million.
  • GNI per capita, Atlas method (current US$) was 9,670.28 .
  • Latin America & Caribbean Trade balance: as % of GDP was -0.26.
  • Trade balance in current US$ was -18,258.00 million.
  • Trade as percentage of GDP was 49.70 .
  • Trade in services as percentage of GDP was 8.64 .

Trade Indicators 2023

Trade Indicators for Latin America & Caribbean in 2023 are below

  • Hirschman Herfindahl market concentration index was not available.
  • Index of export market penetration was not available.
  • World Growth in percentage was not available and Latin America & Caribbean Country Growth was not available .