Fewer goods were exported for the first half of 2023 from Latin America and the Caribbean, compared with last year.
The Inter-American Development Bank in its 2023 Trade and Integration Monitor, found that intraregional sales fell by 0.6 per cent.
Exports outside of the region came in 2.2 per cent lower.
The IDB says the only destination market to which exports continued to grow was the United States.
This was mainly due to sales from Mexico, while exports to China stagnated.
In the Pacific Alliance, Central America and the Dominican Republic, shipments outside the region continued to grow.
But trade with the Andean Community and MERCOSUR, both regional trade blocs, fell dramatically.
The IDB says intraregional and intrabloc flows declined in all the region's integration schemes except MERCOSUR.
In fact, data from a limited sample of Caribbean countries point to a sharp decline in CARICOM exports.
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