Latin American Logistics: Learning the Tricks of the Trades
While the U.S. government continues to encourage trade with Latin America, and is expanding resources available to companies looking to do so, exports and imports to and from that region have declined in recent years.
The United States exported $90,247 million in goods to Central and South America in 2016 through the end of August, according to U.S. Census Bureau data. During that same eight-month period in 2015, it exported $104,485 million. Those eight months in 2014 saw $122,607 million in exported goods. Trends in imports to the United States from that region are similar, with the amount declining each year.
This is in spite of the Look South initiative launched by the U.S. Department of Commerce (DoC) in 2014 to increase trade with 11 Latin American countries where the United States has free trade agreements (see bottom sidebar).