RTTNews - Exports from Latin American and Caribbean nations are likely to fall at its sharpest pace in 72 years in 2009, the United Nations' Economic Commission for Latin America and the Caribbean predicted Wednesday.
The volume of exports from the region is forecast to decline 11%, the most since 1937, while imports are likely to plunge 14%, the steepest fall since 1982. Hence, the volume of trade would fall 13%, more than the 10% decline in world trade expected this year.
Policies to reactivate trade are urgently needed, because the post-crisis future will continue to reward economies with a greater focus on exports and advances in terms of competitiveness and technological innovation, said ECLAC Executive Secretary Alicia Bárcena.
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