Economy

Thursday, January 12th 2023 - 11:53 UTC
Mercosur needs changes, former Uruguayan President Pepe Mujica says

Former Uruguayan President José “Pepe” Mujica met Argentina's head of state Alberto Fernández over a barbecue at the Olivos residence in Buenos Aires to discuss the importance of integration of Latin America, because in the guest's words “we do not exist in the world.”
Wednesday, January 11th 2023 - 10:45 UTC
Beijing pushing Brazil for a quick FTA with Mercosur or individually, but consensus is elusive

An official document from Beijing states that China is ready to negotiate a free trade agreement (FTA) with Mercosur or separately with any member of the bloc. This contentious topic most probably will be included in the bilateral agenda when President Lula da Silva visits China in the near future.
Wednesday, January 11th 2023 - 10:19 UTC
Despite record exports in 2022, hard times ahead for the Chilean economy

Chile managed a positive foreign trade year in 2022, with exports reaching almost US$ 100 billion, the highest in historic terms, and a surplus of US$ 2,85 billion. The Central bank stats points out that the US$ 97,5bn exports, a 3% expansion over the previous year was achieved despite a strong drop in the value of the country's main export copper, 14%, and an 18% contraction of overseas sales of the red metal.
Wednesday, January 11th 2023 - 10:13 UTC
Price increases boost Latin American exports in 2022

Latin American exports grew 20% in 2022 due to increases in the price of goods, according to projections featured in a report from the Economic Commission for Latin America and the Caribbean (ECLAC) released this week.
Tuesday, January 10th 2023 - 20:04 UTC
World Bank warns 2023 could be close to global recession

According to the World Bank's “Global Economic Prospects: Latin America and the Caribbean” report, a “sharp and lasting” economic slowdown is to be expected this year, its effects falling “dangerously close” to recession.
Tuesday, January 10th 2023 - 10:28 UTC
US trade deficit contracts the most in 14 years; fears the Fed is hiking rates too fast

The United States trade deficit contracted by the most in nearly 14 years in November as slowing domestic demand amid higher borrowing costs depressed imports.
Tuesday, January 10th 2023 - 09:15 UTC
FAO food prices dipped 1,9% in December but overall 2022 prices are 14,3% higher than 2021

The index of world food prices dipped for the ninth consecutive month in December 2022, declining by 1.9% from the previous month, the Food and Agriculture Organization of the United Nations (FAO) reported.
Monday, January 9th 2023 - 09:51 UTC
Argentina finalizes currency swap with China

Argentina's Central Bank (BCRA) and the People's Bank of China (PBC) have reactivated a currency swap to help the South American country offset foreign exchange market operations and strengthen reserves.
Saturday, January 7th 2023 - 07:00 UTC
Port of Santos goal, becoming one of ten largest container ports, and definitively, “no privatization” under Lula

Recently appointed Brazilian Minister of Ports and Airports, Márcio França, said that his goal is to make the Port of Santos one of the ten largest ports in terms of container movement in the world. The statement was made at a press conference after the ceremony in which he took office, in Brasília.
Saturday, January 7th 2023 - 06:57 UTC
Ecuador expects to ink a wide ranging free trade agreement with China

Ecuador has reached a free trade agreement with China which is expected to increase the country's exports by a billion US dollars as well as boost the growth in the industrial sector, it was announced.