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Latin America and the Caribbean Economic overview

22 Feb 2021 8:13 PM | Anonymous

Economic overview

At a glance

For latest economic data, refer to specific Latin American and Caribbean Country Economic Factsheet

Trade and investment

Further information can be found in individual Country Diplomatic Factsheets and Country Economic Factsheets

Free Trade Agreements (FTAs)

Australia currently has:

FTAs in force

Australia-Chile (ACl-FTA) – entered into force 6 March 2009

Trade with Australia: AU$1.348 billion (2017-18)

Exports to Chile: AU$639 million (2017-18)

Imports from Chile: AU$709 million (2017-18)

Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) – entered into force 30 December 2018 for:

Australia

Canada

Japan

Mexico

New Zealand, and

Singapore

and on 14 January 2019 for:

Vietnam.

The CPTPP will enter into force for Brunei Darussalam, Chile, Malaysia and Peru 60 days after they complete their respective ratification processes.

FTAs concluded but not yet in force

Peru-Australia Free Trade Agreement – In 2017, total two-way trade in goods and services with Peru was worth $717 million, up over 20 per cent from 2016.

FTAs under negotiation

Pacific Alliance Free Trade Agreement – Regional trading bloc comprising Chile, Colombia, Mexico and Peru, the Pacific Alliance's GDP was worth over USD $1.8 trillion in 2015-16.

Travel information

Before you travel, visit smartraveller.gov.au

Read the travel advice for the Americas and Caribbean (https://smartraveller.gov.au/Countries/Pages/default.aspx)

DFAT offers a range of publications providing information on Australia, Australian foreign, trade and development policies and the economic and political climate in other countries.

Country diplomatic factsheet

Country economic factsheet

Australia's Free Trade Agreements (FTAs)


Recent News

Championing Business Growth across the Pacific

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