How Latin America's Services Stole the Spotlight from Goods
Latin America and the Caribbean witness a trade revolution: goods dip 2%, but services surge 12% in 2023. The REDLAS conference explores the transformative power of modern services, driving economic growth, job creation, and sustainable development in the region.
In a dynamic shift between 2022 and 2023, the global trade landscape witnessed a fascinating transformation. While the volume of world trade in goods experienced a modest decline of 1.6 percent, the trade in services soared, marking a significant 5 percent growth.
These trends are particularly pronounced in Latin America and the Caribbean, where the value of goods exports is anticipated to decrease by 2 percent. Services are poised for a remarkable 12 percent upswing, according to estimates by the Economic Commission for Latin America and the Caribbean (ECLAC)).
