Unlocking Central America's Export Potential
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Washington, DC
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The Central America region is a small
market. The region contains around 43 million inhabitants
(0.6 percent of total world population) who generate around
0.25 percent of the world's Gross Domestic Product
(GDP). While the region has successfully embarked on a
regional integration agenda and has strong commercial links
with the US, extra-regional trade-mainly with large
fast-growing emerging economies-remains a challenge. Export
performance is analyzed along three dimensions that,
together, give a fairly comprehensive picture of
competitiveness: 1) the composition, orientation and growth
of the export basket; 2) the degree of export
diversification across products and markets; and 3) the
level of sophistication and quality of their main exports.
This analysis allows exports dynamics at the different
margins of trade (intensive, extensive, and quality) to be
evaluated and individual countries' to be benchmarked
with peers in the Central American region. The results of
this report allow policy makers to identify key areas to
explore in the overall discussion of export competitiveness
in the Central American region. This paper relates to the
literature on challenges and opportunities that trade
liberalization can bring to the Central American region.
Much of the recent literature focuses on the role of the
free trade agreement negotiated by Costa Rica, the Dominican
Republic, El Salvador, Guatemala, Honduras, and Nicaragua,
with the US.
Palabras clave
AGGREGATE EXPORTS, AGRICULTURAL PRODUCTS, APPAREL, APPAREL EXPORTS, APPAREL INDUSTRY, APPAREL SECTOR, AVERAGE TARIFF, BARRIERS TO TRADE, BENCHMARK, BENCHMARKING, BENCHMARKS, BILATERAL RELATIONSHIPS, BILATERAL TRADE, CAPACITY OF FIRMS, COMMON MARKET, COMPARATIVE ADVANTAGE, COMPARATIVE ADVANTAGES, COMPETITIVENESS, CONSUMERS, CUSTOMS, CUSTOMS TERRITORY, DEVELOPING COUNTRIES, DOMESTIC INDUSTRIES, DOMESTIC MARKET, DOMESTIC PRODUCERS, DOMESTIC SUPPLIERS, ECONOMIC CRISIS, ECONOMIC DEVELOPMENT, ECONOMIC INTEGRATION, ECONOMIC SECTORS, EMERGING ECONOMIES, EMERGING MARKETS, EQUIPMENT, EXCHANGE RATES, EXPORT BASKET, EXPORT BASKETS, EXPORT CAPACITY, EXPORT COMPETITIVENESS, EXPORT DIVERSIFICATION, EXPORT GROWTH, EXPORT MARKET, EXPORT MARKETS, EXPORT ORIENTATION, EXPORT PATTERNS, EXPORT PERFORMANCE, EXPORT SECTOR, EXPORT SECTORS, EXPORT SHARE, EXPORT SHARES, EXPORT VALUE, EXPORT VOLUMES, EXPORTER, EXPORTERS, EXPORTS, EXTERNAL TARIFFS, FINANCIAL CRISIS, FINANCIAL SUPPORT, FINISHED PRODUCTS, FOREIGN DIRECT INVESTMENT, FOREIGN FIRMS, FOREIGN INVESTMENT, FOREIGN MARKET, FOREIGN MARKETS, FOREIGN SUPPLIERS, FOREIGN TRADE, FREE ACCESS, FREE TRADE, FREE TRADE AGREEMENT, FREE TRADE AGREEMENTS, FREE TRADE ZONE, FREE ZONE, FREE ZONES, GDP, GDP PER CAPITA, GLOBAL COMPETITION, GLOBAL ECONOMY, GLOBAL MARKET, GLOBALIZATION, GRAVITY MODEL, GROSS EXPORTS, GROWTH RATE, HOST COUNTRY, HUMAN CAPITAL, IMPORT DATA, IMPORT LICENSING, IMPORT SHARE, IMPORTS, INCOME, INCOME LEVELS, INFORMATION SYSTEM, INPUT PRICES, INSTRUMENT, INSURANCE, INTELLECTUAL PROPERTY, INTERMEDIATE GOODS, INTERNATIONAL MARKETS, INTERNATIONAL PRODUCTION, INTERNATIONAL TRADE, INTRAREGIONAL TRADE, INVESTMENT BANK, INVESTMENT PROJECTS, KNOWLEDGE SPILLOVERS, LABOR MARKET, LOCAL BUSINESS, LOCAL ECONOMY, LOCAL MARKET, LOW TARIFFS, MARGINAL COSTS, MARKET ACCESS, MARKET DIVERSIFICATION, MARKET FAILURES, MARKET INFORMATION, MARKET SHARE, MARKET SHARES, MIDDLE INCOME COUNTRIES, MISSING MARKETS, MULTINATIONAL CORPORATIONS, NEGATIVE SHOCKS, NET EXPORTS, OPENNESS, OUTSOURCING, PER CAPITA INCOME, PREFERENTIAL MARKET ACCESS, PREFERENTIAL RULES, PREFERENTIAL TARIFFS, PREFERENTIAL TRADE, PREFERENTIAL TRADE AGREEMENTS, PREFERENTIAL TREATMENT, PRELIMINARY ASSESSMENT, PRICE CONTROLS, PROTECTIONIST, PROTECTIONIST MEASURES, QUOTA SYSTEM, REGIONAL INTEGRATION, REGIONAL TRADE, REGIONAL TRADE AGREEMENTS, REMITTANCE, REMITTANCES, SALES, SPECIALIZATION, STATISTICAL ANALYSIS, SUPPLIER, SUPPLY CHAIN, TARIFF PREFERENCE LEVEL, TARIFF REDUCTION, TARIFF REDUCTIONS, TECHNICAL BARRIERS, TERMS OF TRADE, TRADE AGREEMENT, TRADE BALANCE, TRADE BALANCES, TRADE CENTER, TRADE COSTS, TRADE DATA, TRADE DEFICIT, TRADE DEFICITS, TRADE FACILITATION, TRADE FLOWS, TRADE INTEGRATION, TRADE LIBERALIZATION, TRADE MORE, TRADE OPENNESS, TRADE PARTNER, TRADE PATTERNS, TRADE PERFORMANCE, TRADE RELATIONSHIP, TRADE RELATIONSHIPS, TRADE RESTRICTIONS, TRADE SURPLUS, TRADE-RELATED INVESTMENT, TRADING, TREATY, TRUST FUND, TURNOVER, VALUE ADDED, VOLATILITY, WELFARE GAINS, WORLD TRADE, WORLD TRADE ORGANIZATION, WTO