Weekly Chart: What Does Brexit Mean for Latin America?
Weekly Chart: What Does Brexit Mean for Latin America?
Latin America’s trade levels with the United Kingdom may be small, but that doesn’t mean the region isn’t feeling Brexit’s effects.
British voters decided to leave the European Union on June 23, and Latin America has been eyeing Brexit’s global impact ever since. Many countries in the region are still reeling from the plummet in oil prices, and this big change for the EU—the largest trading bloc in the world and a major destination for Latin American exports—only adds to economic uncertainty.
The need to negotiate bilateral free-trade agreements with the UK could prove to be a hurdle for economic ties with the region. UK-Latin American trade is not significant across the board, but Brexit already delivered a blow to the Mexican peso, could affect direct investment in countries such as Colombia, and has the potential to harm Brazilian exports.
AS/COA Online takes a look at trade between Latin American economies and both the EU and UK, as well as what Brexit means for the region.
Pablo Medina Uribe contributed to this report.
