CEPAL Review no. 139

Analysis of Central American trade integration from the perspective of intraregional value added

The aim of this article is to study trade integration in Central America from a value added perspective, using the first regional input-output table, a tool developed by the Economic Commission for Latin America and the Caribbean (ECLAC) in close cooperation with the central banks and statistical institutes of the region. The strategy of open regionalism employed by the countries of Central America has resulted in significant subregional trade integration with regard to gross exports; however, these exports include a significant share of intermediate inputs from outside the subregion. The vert…

Análisis de la integración comercial centroamericana desde la perspectiva del valor agregado en la subregión

El objetivo de este artículo es estudiar la integración comercial centroamericana en términos de valor agregado sobre la base de la primera matriz regional de insumo-producto, instrumento que la Comisión Económica para América Latina y el Caribe (CEPAL) construyó en estrecha colaboración con los bancos centrales e institutos de estadística de la región. La estrategia de regionalismo abierto aplicada por los países centroamericanos ha dado como resultado una integración comercial dentro de la subregión significativa en lo que atañe a las exportaciones brutas, pero en ellas se incorpora una prop…

Perspectivas do Comércio Internacional da América Latina e do Caribe 2022: O desafio de dinamizar as exportações manufatureiras. Síntese

Esta edição de Perspectivas do Comércio Internacional da América Latina e do Caribe corresponde a 2022 e tem três capítulos. O capítulo I examina a evolução recente do comércio mundial e regional num contexto marcado pelo conflito entre a Rússia e a Ucrânia, taxas de inflação historicamente elevadas, desaceleração da economia mundial, tensões geopolíticas e as dificuldades que a China enfrenta para conter a pandemia de COVID-19. O capítulo II apresenta um panorama do comércio exterior de manufaturas da região durante as últimas três décadas, com ênfase no desempenho exportador. O capítulo III …

United States – Latin America and the Caribbean Trade Developments 2022

In the United States, total trade in goods and services rebounded in 2021 to its pre-pandemic levels. In 2022, trade in goods sustained the recovery that started in 2021, but the trade in services has not fully recovered as significant services industries such as travel, and transport are still facing the lingering effects of the pandemic.…

International Trade Outlook for Latin America and the Caribbean 2022: the challenge of boosting manufacturing exports

In its 2022 edition, this ECLAC annual report examines the foreign trade performance of the region’s economies during the year. It consists of three chapters. The first examines recent developments in global and regional trade amid the conflict between the Russian Federation and Ukraine, record-high inflation rates, the global economic slowdown, geopolitical tensions and the difficulties faced by China in containing the COVID-19 pandemic. Chapter II presents an overview of the region’s foreign trade in manufactures in the past three decades, with particular emphasis on its export performance. …

Perspectivas del Comercio Internacional de América Latina y el Caribe 2022: el desafío de dinamizar las exportaciones manufactureras

En su edición 2022, este informe anual de la CEPAL examina el comportamiento del comercio exterior de las economías durante el año y consta de tres capítulos. El primero examina la evolución reciente del comercio mundial y regional en un contexto marcado por el conflicto entre la Federación de Rusia y Ucrania, tasas de inflación históricamente elevadas, la ralentización de la economía mundial, tensiones geopolíticas y las dificultades que enfrenta China para contener la pandemia de COVID-19. El segundo presenta un panorama del comercio exterior de manufacturas de la región durante las últimas …

United States-Latin America and the Caribbean Trade Developments 2022

United States trade in goods sustained the recovery that began in 2021. In the first six months of 2022, goods exports increased by 21% compared to the prior-year period, while goods imports rose by 22%. Trade in services has not fully recovered, as major service industries such as travel and transport are still experiencing the lingering effects of the COVID-19 pandemic. United States-Latin America and the Caribbean Trade Developments 2022 provides an overview of selected developments in trade relations between the United States and Latin America and the Caribbean. In light of the global focu…

Revista CEPAL no. 138

Documento actualizado el 15 de febrero de 2023.…

La Asociación Económica Integral Regional: Principales contenidos e implicancias para América Latina y el Caribe

La entrada en vigor a inicios de 2022 del acuerdo que establece la Asociación Económica Integral Regional (RCEP, por su sigla en inglés) entre 15 países de Asia y el Pacífico se produce en el contexto de ciertas tendencias que apuntan a una mayor regionalización de la producción y el comercio, en respuesta a las perturbaciones que las tensiones comerciales entre los Estados Unidos y China, la pandemia del COVID-19 y más recientemente el conflicto en Ucrania han producido en las cadenas globales de valor. Por el contrario, América Latina y el Caribe experimenta desde mediados de la década de 20…

Potential trade implications of Latin America and the Caribbean’s climate commitments under the Paris Agreement

This paper investigates Latin America and Caribbean (LAC)’s nationally determined contributions (NDCs) and their potential implications for the region’s balance of payments. The first section summarizes prevailing trade dynamics, finding that in LAC, exports of raw materials help to cover the cost of importing capital goods. The second section turns to the region’s NDCs to identify policies affecting import expenditure. The third section employs a similar methodology on the export side, tallying policies affecting output and global cost competitiveness in key sectors (crops, livestock, timber,…

The Chile-Republic of Korea Free Trade Agreement: a synthetic control assessment

In 2003, Chile and the Republic of Korea signed the first trans-Pacific free trade agreement (FTA). The two countries’ objectives differed. Chile sought to increase, diversify, and add value to its exports, while the Republic of Korea had the political economy-driven goal of initiating preferential liberalization negotiations, and Chile was seen as an ideal candidate for exploring this path. This paper focuses on the Chilean objectives behind the signing of the Chile-Republic of Korea FTA and therefore considers its effects on Chilean exports. Synthetic control methods are used to assess the i…

El Tratado de Libre Comercio entre Chile y la República de Corea: evaluación mediante controles sintéticos

En 2003, Chile y la República de Corea firmaron el primer tratado de libre comercio transpacífico. Los objetivos de ambos países eran diferentes: mientras Chile procuraba aumentar, diversificar y añadir valor a sus exportaciones, la República de Corea tenía un objetivo de economía política de iniciar negociaciones preferenciales y consideraba a Chile un candidato ideal para explorar esa vía. Este artículo se centra en los objetivos que llevaron a Chile a firmar el tratado. Se estudian los efectos que este ha tenido en las exportaciones chilenas, aplicando un método de controles sintéticos para…

CEPAL Review no. 138

.…

Which revealed comparative advantage index to choose? Theoretical and empirical considerations

This article proposes guidelines for choosing an index of revealed comparative advantages (RCA) to analyse a given configuration of countries, products and periods. Following a systematic review of the main theoretical strengths and weaknesses inherent in RCA indices, a standardized method is designed to gauge the quality of their empirical measurement. This method is illustrated for Colombia and the Northern Triangle. The guidelines formalize a number of theoretical and empirical trade-offs that need to be weighed to provide a better basis for choosing an RCA index.…

¿Qué indicador de ventajas comparativas reveladas escoger? Consideraciones teóricas y empíricas

En este artículo se proponen lineamientos para facilitar la selección de un indicador de ventajas comparativas reveladas (VCR) que permita examinar una cierta configuración de países, productos y períodos. En primer lugar, se hace una revisión sistemática de las principales fortalezas y debilidades teóricas inherentes a los indicadores VCR antes de aplicarlos. En segundo lugar, se diseña un método normalizado para evaluar la calidad de las mediciones empíricas de un indicador VCR. Se ilustra este método con el caso de la zona conformada por Colombia y el Triángulo del Norte. Estos lineamientos…

Modern services as a driver of regional trade

Modern services —digitally delivered services such as computer, financial and business services— have been the most dynamic category of international trade in the past decade. However, Latin America and the Caribbean is still a marginal player in global trade in modern services.…

Los servicios modernos como factor dinamizador del comercio regional

Los servicios modernos -que corresponden a aquellas prestaciones suministradas digitalmente como los servicios informáticos, servicios financieros y servicios empresariales han sido la categoría más dinámica del comercio internacional en la última década. Sin embargo, América Latina y el Caribe es todavía un jugador marginal en el comercio mundial de servicios modernos.…

Efeitos econômicos de acordos de livre comércio sobre o Brasil: os casos da parceria econômica regional abrangente, do acordo abrangente e progressivo para a parceria transpacífica e do acordo da zona de livre comércio da África continental

Este estudo tem como objetivo avaliar os possíveis impactos econômicos sobre o Brasil de três grandes acordos comerciais regionais firmados recentemente: a Parceria Econômica Regional Abrangente (RCEP – em inglês, Regional Comprehensive Economic Partnership); o Acordo Abrangente e Progressivo para a Parceria Transpacífica (CPTPP – em inglês, Comprehensive and Progressive Agreement for Trans-Pacific Partnership); e o Acordo da Zona de Livre Comércio da África Continental (ZLCAC – em inglês, African Continental Free Trade Area). A avaliação é feita com base no Projeto de Análise de Comércio Glob…

China and Latin America and the Caribbean: Exports competition in the United States market

This paper uses an augmented gravity trade model to examine the impact of Chinese exports to the United States on Latin America and the Caribbean (LAC) exports to the same market over the last two decades. The analysis relies on a sample of 33 LAC countries and trade data disaggregated to the 10- digit Harmonized Tariff Schedule (HTS) level. The results show that the impact of Chinese exports on US imports from LAC is negative and statistically significant across model specifications and levels of aggregation in the trade data. In addition, the model suggests that after accounting for such exp…