United States-Latin America and the Caribbean Trade Developments 2025

In 2024, Latin America and the Caribbean accounted for 19.2% of total United States trade, similar to the level recorded in 2023. The region’s share of total United States trade in goods, 23.2%, surpassed pre-pandemic levels. The region, driven by Mexico, remained a net exporter of goods to the United States: imports by that country from Latin America and the Caribbean rose by 7.4% to US$ 661 billion, while exports increased by 2.9% to US$ 517 billion, widening the United States goods trade deficit with the region to US$ 144 billion. Latin America and the Caribbean also accounted for 11.5% of total United States trade in services in 2024. The United States remained a net exporter of services to the region, with exports amounting toUS$ 135 billion and imports totalling US$ 95 billion, resulting in a services surplus of US$ 39.5 billion. United States-Latin America and the Caribbean Trade Developments 2025 includes a review of these trends in goods and services trade amid broader global developments, such as the strategic competition between the United States and China, a defining feature of the global trade landscape. The report also presents an analysis of emerging opportunities linked to the circular economy, critical minerals and green technology value chains, which are redefining competitiveness and creating new avenues for productive integration across the region.