Be prepare! After a sluggish period, trade activity in the Americas shows signs of a modest rebound. Global merchandise trade volumes fell by about 1.2% in 2023 but are forecast to grow around 2.6% in 2024, with North American exports expected to rise faster (≈3.6%) than South America’s (≈2.6%). WTO indicators suggest that late 2024 and early 2025 saw above-trend trade momentum. Indeed, North America’s import demand has exceeded expectations, while Europe’s trade performance lagged.

In Latin America, exports have resumed growth after last year’s dip – the region’s export values grew about 1.3% year-on-year in Q1 2024, following a slight decline in 2023. Key industry data reflect this nuanced picture: shipping and freight indicators are largely upbeat, pointing to a market gradually heating up. Still, experts caution that high interest rates and geopolitical uncertainties could cap this growth. Overall, the trade climate in the Americas is improving modestly, not booming, as businesses adapt to a post-pandemic, high-inflation world.