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Latin American Free Trade Association

Exports (2023)$1.33T
Imports (2023)$1.17T
Main Exporter (2023)Mexico $603B
Main Importer (2023)Mexico$528B
Internal Trade (2023)11.8%of total trade

About

Overview LAFTA (Latin American Free Trade Association) is a Trade Bloc composed by Mexico, Brazil, Chile, Argentina, Peru, Colombia, Ecuador, Paraguay, Uruguay, Bolivia, Venezuela, Panama, and Cuba. In 2023, LAFTA exported $1.33T (5.9% of global exports) and imported $1.17T (5.19% of global imports). Its largest exporter, Mexico exported $603B, which corresponds to 45.2% of the total exports. On the other hand, the largest importer, Mexico, imported $528B, which is 45% of the total imports of Latin American Free Trade Association.

Trade In 2023, LAFTA's most exported products were Crude Petroleum Oils ($112B), Soya beans ($57.9B), Copper ores and concentrates ($55.4B), Medium Sized Cars ($34B), and Unagglomerated Iron Ore Concentrate (Excl. Iron Pyrites) ($33.8B). The same year, the most imported products were Bituminous Petroleum Distillates (Excl. Crude) ($85.1B), Radio/TV Transmit-Receive Apparatus ($31.8B), Crude Petroleum Oils ($29.3B), Digital Monolithic Integrated Circuits ($28.7B), and Parts & Accessories for Data Processing Equipment (n.e.) ($19.6B).

Partners In 2023, LAFTA's exports went primarly to United States ($553B), China ($204B), Canada ($46.8B), Brazil ($33.1B), and Argentina ($26.3B). The same year, LAFTA's imported primarily from United States ($356B), China ($248B), Brazil ($54.3B), Germany ($46.3B), and Japan ($33.3B).

Latest Trends

Latest Data

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The following section shows the trade patterns over time for countries that comprise the organization.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Organization Composition

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Y-AXIS SCALE
Value

The following section shows the trade patterns over time for all the countries that comprise the organization, using historical dataset.

Yearly Exports of LAFTA

Internal Trade

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Internal Trade includes all trade between the countries that comprise this organization.

In 2023, the top internal exports of LAFTA were Crude Petroleum ($16.5B), Cars ($8.78B), Delivery Trucks ($7.09B), Soybeans ($6.43B), and Refined Petroleum ($4.11B).

The same year, the principal destinations of internal exports were Brazil ($33.1B), Argentina ($26.3B), Chile ($21.9B), Mexico ($14B), and Peru ($12.7B).

Internal Exports (2021)
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Internal Destinations (2021)
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External Trade

Flow
Depth

External trade includes all world trade excluding the countries that comprise this organization.

In 2023, the top external exports of LAFTA were United States ($553B), China ($204B), Canada ($46.8B), Japan ($26.1B), and Germany ($23.2B).

The same year, the principal destinations of external exports were Crude Petroleum ($95.4B), Cars ($63.6B), Copper Ore ($55.1B), Soybeans ($51.5B), and Motor vehicles; parts and accessories (8701 to 8705) ($41.1B).

External Exports (2021)
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External Destinations (2021)
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Total Trade

Flow
Color
Depth
Top Export (2023)Crude Petroleum$112B
Top Destination (2023)United States$553B

In 2023, LAFTA exported a total of $1.33T. During the last five reported years the exports of LAFTA have changed by $262B from $1.07T in 2018 to $1.33T in 2023.

The most recent exports are led by Crude Petroleum ($112B), Cars ($72.3B), Soybeans ($57.9B), Copper Ore ($55.4B), and Motor vehicles; parts and accessories (8701 to 8705) ($45B). The most common destination for the exports of LAFTA are United States ($553B), China ($204B), Canada ($46.8B), Brazil ($33.1B), and Argentina ($26.3B).

Exports (2021)
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Destinations (2021)
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Largest Export by Country

Indicator

The following visualization shows the principal export per country, the product which has grown the most over the past 5 years or the product in which the country has a higher level of specialization, measured by the RCA Index.

Biggest export by country (2021)

Trade between organizations

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Depth

This visualization show trade between international organizations. The default selection shows the trade with the rest of the world.

Exports (2021)

Destinations (2021)

Economic Complexity

Complexity and Country Indicators

Indicator

This visualization compares the Economic Complexity Index (ECI) with different indicators about country development such as GDP per capita or Inflation. For more information about ECI, check the Methods page.

In 2023, the countries with higher complexity that belong to Latin American Free Trade Association were Mexico (1.09), Brazil (0.34), Colombia (0.26), Uruguay (0.24), and Argentina (0.0071).

On the other hand, the countries with higher GDP per capita were Uruguay ($22.8k), Panama ($18.7k), Chile ($17.1k), Argentina ($14.2k), and Mexico ($13.8k).

Finally, the biggest exporters of LAFTA were Mexico ($603B), Brazil ($355B), Chile ($98.9B), Argentina ($68.3B), and Peru ($66.6B).

GDP per capita v/s ECI for countries that comprise Latin American Free Trade Association (2023)

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