In 2023, Mexico dominated goods exports within Latin America, holding a substantial share of the market, followed by Brazil. Noticeable year-on-year growth was observed in Ecuador and Uruguay, with increases over 8%. Mexico saw modest growth at 3.24%, while Brazil and Panama displayed robust expansion at 8.14% and 7.86%, respectively. Jamaica experienced a decline in exports.
Key future trends to watch include:
- Rising exports from Ecuador and Uruguay driven by diversification and infrastructural improvements.
- Brazil's potential to further capture market through agricultural exports.
- Mild growth potential for smaller economies like Costa Rica and Honduras.
Top countries in Goods Exports (Custom Basis) Share by Country (Million US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Mexico | 37.44 | 2023 | -8.49% | +3.24% | View data |
| 2 | 2 Brazil | 24.29 | 2023 | +2.63% | +8.14% | View data |
| 3 | 3 Chile | 7.11 | 2023 | +1.85% | +6.05% | View data |
| 4 | 4 Argentina | 6.36 | 2023 | +1.47% | +7.75% | View data |
| 5 | 5 Peru | 4.82 | 2023 | +2.8% | +6.77% | View data |
| 6 | 6 Colombia | 4.06 | 2023 | +0.76% | +6.47% | View data |
| 7 | 7 Ecuador | 2.37 | 2023 | +2.67% | +9.17% | View data |
| 8 | 8 Panama | 1.53 | 2023 | +3.29% | +7.86% | View data |
| 9 | 9 Guatemala | 1.14 | 2023 | +2.71% | +7.95% | View data |
| 10 | 10 Costa Rica | 1.13 | 2023 | +1.83% | +7.26% | View data |
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