중남미

According to specific analyses in the 2015 and 2023 IMF Regional Economic Outlook reports, Latin America and the Caribbean (LAC) have weaker ties with global markets than other regions. This has, in turn, negatively impacted their development. Despite some progress in reducing trade barriers, LAC's level of trade integration remains low, especially within the region. The region's exports are also undiversified, mainly focused on low-value commodities, with minimal involvement in global value chains. Mowatt's (2017) and Bhattacharya and Pienknagura (2024) further reveal that the primary barriers to increasing LAC's export volume, diversification, and sophistication are internal issues such as inadequate infrastructure, skill gaps, and high production costs, which outweigh the challenges posed by international factors.