📊 Regional Trade

What are the countries that trade the most within Latin America?

Welcome to Latinometrics. We bring you Latin American insights and trends through concise, thought-provoking data visualizations.

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Trade 🚛

Here at Latinometrics, we’ve often been quick to give Mexico its flowers.

This shouldn’t be too surprising—both of our cofounders are from sunny Torreón, after all. But it’s hard not to see the vast opportunities coming out of Mexico, a G20 economy that has low unemployment and major trade deals with some of the world’s biggest markets.

Trade is hugely important for Mexico’s economy, making up over three-quarters of the country’s GDP in 2019. But let’s be clear: most of that trade is heading north, not south.

Regional Trade: Which Countries Trade the Most Within LatAm?

Only about 5% of Mexico’s total trade is with other Latin American countries. The remainder heads to the rest of the world, particularly the US, showing to what degree Mexico really is an outlier compared to its regional peers.

Don’t believe us? Even Panama, notable for its liberal commercial policies, special economic zones, and international canal, trades more with its Latin American neighbors…though geography might help with that.