Trade between Asia and Latin America has grown tremendously in the past decade, reaching an estimated $442 billion in 2011.

1. Asia is Latin America/Caribbean’s second largest trading partner after the US, with a more than 20% share.
2. Trade between Asia and Latin America/Caribbean grew at over 20% a year in the past decade, reaching an estimated $442 billion in 2011.
3. Latin America/Caribbean’s share of Asia’s trade has more than doubled in the past decade but is still only just over 4%.
4. Most Latin American economies have reached middle income status and are prime destinations for factory Asia. [ADO, April, 2011, South-south economic linkages].
5. PRC, Japan, Republic of Korea and India account for nearly 90% of Asia’s total trade with Latin America/Caribbean.
6. In 2008, PRC and Latin America trade rose 33% yr-on-yr, over 3 times the trade increase seen between Latin America, US and Europe. [ADO, April, 2011, South-south economic linkages].
7. Brazil, Mexico, Chile and Argentina account for close to 80% of Latin America/Caribbean’s trade with Asia.
8. A few commodities make up 70% of Latin America/Caribbean’s exports to Asia while Asia exports a wide range of manufactured goods.
9. The main challenge to more trade is high tariff, non-tariff barriers and transport costs, and limited and inefficient transport services.
10. As of Jan 2012 there were 18 free trade agreements amongst countries in Asia and Latin America/Caribbean, and that may rise to 30 by 2020.
11. PRC’s foreign direct investments in Latin America/Caribbean in 2010 made up less than 1% of the latter’s total FDI inflows.
12. Latin America/Caribbean’s foreign direct investment in Asia makes up less than half a percentage point of total inflows to Asia.
13. Asia, Latin America/Caribbean bilateral investment treaties have doubled since the 1990’s to almost 40 agreements.
14. PRC, Brazil, India and the Republic of Korea are increasingly important development aid sources for Latin America/Caribbean.