Mexico exports mainly raw materials to Asia

Mexico City — Even if Mexico, Brazil, Chile and Argentina account for 80% of Latin America and the Caribbean’s trade with Asia, most of this exchange is raw materials, with little value added. According to a recent study published by the Inter-American Development Bank (IDB), 70% of products exported to Asia are iron, copper, soy, oil, sugar, paper pulp and poultry. The document named “Structuring the Future of the Relationship among Asia, Latin America and the Caribbean” points out that China, Korea, Japan and India account for 90% of Asia’s trade exchange with Latin America and the Caribbean. The IDB considers that trade exchange between Latin America and Asia will continue to gradually shift from raw materials to manufactured products, because basic products demand and shortage will be growing globally.