Latin America ran trade deficit with Europe in 2013

Numbers published by the Latin Business Chronicle show that Latin America ran a deficit in its commercial transactions with Europe in 2013. Austerity measures in the continent have led to a contraction in demand, while Latin America has continued to buy European goods such as heavy machinery, chemical products and other manufactured goods.

More European exports

The data shown by the Latin Business Chronicle show that the bilateral commerce between the two continents surpassed US$213 billion in 2013, but Europe imported 15% more than it exported to Latin America, a surplus of nearly US$22 billion.

Brazil as main trading partner

The numbers also show that Brazil remains Europe’s biggest trading partner in the region. The volume of trade reaches US$100 billion or more than a third of all European commerce with Latin America, while the European Union (EU) is Brazil’s overall main trading partner in terms of imports and exports if seen as a single entity, while Brazil is the EU’s ninth overall trading partner.

Fonte/Source: Latin Business Chronicle