News Americas, MIAMI, FL, Fri. Nov. 17, 2017: A principal economist at the Inter-American Development Bank, (IDB), has made a bold analysis of what Latin America and the Caribbean needs right now.
“The region needs a new generation of international integration policies,” said Paolo Giordano, Principal Economist at the IDB’s Trade and Integration Sector and editor of a new report that underlines why the region lags in competitiveness and examines the opportunities of e-commerce.
“Beyond the recovery, Latin America and the Caribbean is facing a trade scenario that is substantially less favorable than before the global financial crisis. … It is all about boosting competitiveness, regaining global share and make the most of the opportunities that come with disruptive technologies like e-commerce,” Giordano added.
Latin America and the Caribbean have seen its share of global trade shrink. And although e-commerce remains marginal in Latin America, it has grown substantially in recent years. For example, business-to-consumer (B2C) sales in the region reached $47 billion in 2015, a 24 percent increase over the previous year.
Latin America has the highest percentage of online shoppers who only make online purchases abroad (15 percent, while in Asia just 4 percent of online shoppers do).