South & Central America and the Caribbean

South and Central America and the Caribbean are home to a diverse range of economies. The region serves as a significant supplier of agricultural goods, mineral resources, and manufactured products. Some of the key exports from South American countries include coffee, soybeans, beef, fish, copper, iron ore, and oil. The region is also a major importer of goods such as machinery, chemicals, and consumer goods. Several Central American countries are key exporters of agricultural products such as bananas, coffee, and sugar, with a growing focus on manufacturing and light industry. These products are traded with countries around the world, including the United States, China, and the European Union. The region also hosts the Panama Canal, one of the most significant waterways that sees over $270 billion worth of cargo cross it every year, destined to over 80 countries. The Caribbean region, comprising island nations such as Jamaica, the Dominican Republic, and Barbados, are exporters of services trade, namely tourism, and agricultural goods, particularly sugar, rum, and fruits. The region is also composed of 19 non-sovereign territories including overseas territories and outermost regions of the United Kingdom, the Netherlands, the United States, and France. Various countries located in South and Central America and the Caribbean participate in economic communities including the Andean Community, the Caribbean Community (CARICOM), the Central American Common Market (CACM), the Pacific Alliance, and the Southern Common Market (MERCOSUR). These communities and customs unions aim to promote regional integration and liberalize trade. Furthermore, they have also established free trade agreements with other nations, such as the EU-Mercosur agreement with the European Union, and the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), thereby expanding their market access.