Question

What type of impact did the US and Caribbean island nations have between trade transactions between 2010-2018.

Answer 1

Caribbean Island Nations is a natural trade partner of the United States, tied closely together by history, geography, and culture. The trade is increasing since 2010 with the liberalization in trade. As a whole, the Caribbean Region represents a market of nearly 23.5 million people who in 2016 collectively imported approximately $18 billion of goods from U.S. In 2017 the Caribbean and Latin America accounted nearly 23.9% of U.S. steel imports in volume and 7.3% of U.S. aluminium imports. The total imports of Latin America and the Caribbean in 2017 reached US$ 976,495 million and exports were US$ 978,632 million. The trade surplus for the amount of US$ 2,137 million displayed the region’s strong growth in export following the decline in 2016. In 2017 slight trade surplus between Latin America and the Caribbean’s was driven mainly by surpluses in Venezuela and Brazil