Maritime trade in the Americas has shown a mixed performance in recent years. In 2022, the Caribbean coast of Panama recovered more quickly than the Pacific coast, with exports up 15% compared to 2019, while imports declined 15%.In contrast, the Pacific coast saw a 14% increase in imports against an 11% decline in exports, the UN Conference on Trade and Development (Unctad) has found.The Latin American and Caribbean region as a whole faces challenges in building resilience, including a historic infrastructure gap related to connectivity between ports and economic hinterlands. Meanwhile, the Woodrow Wilson International Center for Scholars in Washington reports that the efficiency and resilience of ports in the Americas are vital to the prosperity and security of all nations in the Western Hemisphere.The US in particular has a large stake in whether ports in the region remain free and open, as 95% of cargo entering the US arrives by ship.Developing an efficient maritime network within the Americas, especially with free trade agreement partners, could help make the region more competitive relative to other trading blocs.
