By Sarah Morland
MEXICO CITY, June 16 (Reuters) – China was the fastest-growing buyer of Latin American and Caribbean goods in the first three months of 2026, a report by the Inter-American Development Bank (IDB) showed on Tuesday, but the U.S. remained the region’s top market.
The U.S. dominance was driven by its trade ties to Mexico and Central America, whereas China leads in much of South America, the report found.
The value of Latin American exports to China surged 25% in the first three months of 2026 compared with the same period last year, the report found, while those to the rest of Asia rose 24%, the European Union 19%, and the U.S. 14%.
“The United States contributed most to the total increase in Latin American and Caribbean exports, whilst China and the rest of Asia showed the greatest dynamism,” the IDB said.
Shipments from China to the region surged 29% while U.S. exports rose a more moderate 4%, nevertheless lifting the U.S. share of the region’s imports to a record near 22%, while China’s edged down slightly to 9.6%.
Overall, exports from Latin America grew almost 16% in the first three months of 2026 compared to the same period of 2025, double the 8% annual growth registered throughout 2025, as volumes and prices rose for key goods produced in the region.
The price of gold – a safe-haven asset investors use to protect wealth in times of volatility – soared 64% in January to April. Copper, oil, soybean and iron ore prices rose to a lesser extent, while coffee and sugar prices fell more than 20%.
The U.S.-Israeli war with Iran sent fuel prices soaring, in a major hit for import-dependent nations. Even oil exporters whose treasuries benefited from higher prices were hit by an associated increase in fertilizer and freight costs.
In Venezuela, total exports fell 8.7% in the first three months of 2026, the report found, even as its U.S. exports edged up slightly after the U.S. captured President Nicolas Maduro at the start of the year and imposed significant oversight over the OPEC nation’s crude sector.
“Instability in global trade policies and the proliferation of geopolitical conflicts are creating a high degree of uncertainty,” the IDB said, adding this presented “both risks and opportunities for the region.”
(Reporting by Sarah Morland; Editing by Jamie Freed)
By Sarah Morland | Reuters | © Copyright Thomson Reuters 2026.
