Developments in the prices of natural resources for export in Latin America and the Caribbean

In 2021, Latin America and the Caribbean saw an increase in the prices of the main export commodities, mainly as a result of the recovery in global demand following the impact of the COVID-19 pandemic.

Issue No. 3 of the ECLAC Natural Resources in Latin America and the Caribbean Bulletin, prepared by the Natural Resources Division of ECLAC, offers an analysis of the movements in prices of non-renewable natural resources and agricultural products in Latin America and the Caribbean, considering the effects of climate change, the COVID-19 pandemic and sustainable economic recovery in the region.

The international prices of non-renewable natural resources rose significantly in 2021 and contributed to the economic recovery in the region, particularly in hydrocarbon and metallic-mineral-exporting countries. Similarly, agricultural commodity prices rose rapidly in the second half of 2020 and the first half of 2021, which saw agricultural price indices reach 10-year highs. This largely benefited producing countries, however, the combination of high prices and declining incomes is adversely affecting consumers through inflation, particularly the most vulnerable households.

Economic Commission for Latin America
and the Caribbean (ECLAC)

Editorial Board:
Jeannette Sánchez, Mauricio León, Adrián Rodríguez and Silvia Saravia
General coordination:
Silvia Saravia and Marina Gil
Collaborators:
Pablo Chauvet, René Salgado, Marcia Tambutti, Paul Wander and Orlando Reyes

Natural Resources in Latin America
and the Caribbean
Number 3, May 2022
ISSN Electronic Version 2709-0213

© United Nations, May 2022
All rights reserved

Contact:
drn@cepal.org

See File in Digital Repository