IDB survey reveals optimism among Latin American exporters
Sep, 28, 2021 Posted by Ruth HollardWeek 202138
A survey by the Inter-American Development Bank (IDB) released on September 23 reveals that the export sector in Latin America and the Caribbean has “considerably” improved its expectations for the short- and medium-term after the Covid 19 pandemic.
A year and a half after the start of the pandemic, which severely affected global trade flows, 47% of exporting companies in the region considered that international demand will grow in the next three months, while 57% said they expected to increase their sales abroad in the next year.
This assumes a significant increase in optimism compared to 2020, when only 16% and 36% of companies said that export demand would grow in the short- and medium-term, respectively.
The survey, called “Research on Exporting Companies in Latin America and the Caribbean: Seeking to Understand a New Export DNA”, also revealed a recovery in the export trend in the region.
Data show that 35% of companies increased their sales abroad in the first quarter of 2021, compared to just 11% at the beginning of the pandemic. In addition, only 43% of companies experienced a reduction in their shipments, against 77% in the previous year.
Furthermore, almost half of the companies said they will increase their export-oriented investments in the medium term.
Source: State of Minas
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