Latin America and Caribbean Exports Grow 6.4% in 2025, Signalling Resilient Trade Recovery

The stronger performance was largely driven by rising export volumes, while price gains remained modest overall, reflecting continued volatility in global commodity markets and subdued external demand conditions.

The value of goods exported from Latin America and the Caribbean grew by an estimated 6.4% in 2025, improving on the 4.7% expansion recorded in 2024, according to the latest Trade Trends Estimates for Latin America and the Caribbean report released by the Inter-American Development Bank (IDB).

The stronger performance was largely driven by rising export volumes, while price gains remained modest overall, reflecting continued volatility in global commodity markets and subdued external demand conditions.

Metals and Agro-Industry Lead Export Growth

According to the report, regional exports benefited mainly from increased shipments of metals—particularly gold, copper and silver—as well as solid performance in the agro-industrial sector. Key agricultural exports such as coffee, cocoa, fruit and meat recorded notable gains.

Several manufacturing industries also outperformed, including data-processing machinery, medical supplies, vehicles and plastics, pointing to growing diversification in the region’s export base.

“Despite the challenging global environment, Latin America and the Caribbean’s recent export performance has shown remarkable resilience,” said Paolo Giordano, Principal Economist in the IDB’s Productivity, Trade and Innovation Sector and coordinator of the report.

Signs of Sustained Trade Growth, but Risks Persist

The IDB analysis suggests the region may be entering a phase of more sustained trade expansion, although the balance of risks remains moderately tilted to the downside amid ongoing geopolitical uncertainty, fluctuating commodity prices and uneven global growth.

The report stresses that to sustain and deepen export growth, countries must pursue reforms and attract investment to boost productivity and competitiveness. Reducing trade costs, improving logistics, and strengthening policies that support exports and foreign investment are seen as critical to ensuring trade remains a key driver of economic growth.

Imports Rebound with Domestic Demand

Total imports into Latin America and the Caribbean also gained momentum in 2025, rising an estimated 6.1%, up from 3.2% in 2024. The increase reflects a rebound in domestic demand alongside improved global trade conditions.

Commodity Price Trends Mixed

Export prices followed divergent trajectories across sectors in 2025. In agriculture, coffee prices surged by 49.9% year-on-year between January and November, while soybean prices declined by 6.7% and sugar prices fell by 17.4%.

In the mining and energy sectors, gold prices increased by 42.2%, while copper prices averaged a 12.9% rise. In contrast, iron ore prices dropped by 7.8%, and oil prices fell by 14.3% year-on-year over the same period.

Subregional Export Performance Varied

Export growth was recorded across all subregions, though with notable differences in pace and composition.

South America’s exports are estimated to have grown 5.1% in 2025, up from 4.4% in 2024, with stronger momentum in the second half of the year driven by higher volumes. The main destinations contributing to growth were Asia, the European Union and intraregional markets.

Mesoamerica’s exports accelerated sharply, expanding by 7.2%, nearly double the 3.8% growth recorded in 2024. Within the subregion, Central America posted strong average growth of 11.5% after stagnating the previous year, although momentum weakened later in 2025. Mexico’s exports grew an estimated 6.6%, up from 4.2% in 2024, driven primarily by increased volumes.

In the Caribbean, exports continued to expand but at a slower pace. The exceptional 41.2% surge in 2024 moderated to 14.6% growth in 2025, with results marked by high volatility and significant disparities across countries.

Outlook Remains Cautiously Optimistic

The IDB concluded that while the region’s trade performance in 2025 demonstrates resilience and growing diversification, sustaining momentum will depend on structural reforms, productivity-enhancing investments and greater integration into global value chains amid an uncertain global outlook.