Unlocking Central America's Export Potential

World Bank

Unlocking Central America's Export Potential

2012

World Bank

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.

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AGROVOC Keywords

agricultural products agriculture developing countries domestic markets domestic production economic growth economic impact economic integration economic structure economics economists export subsidies exports feasibility studies fisheries foreign firms foreign investment foreign trade free trade globalization growth rate income income tax international labour organization international trade joint ventures market access metals natural resources real estate reinvestment shops technology transfer tourism trade barriers trade facilitation trade preferences unfair competition value added vertical integration wages world trade organization wto

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Other Subjects

Financial support; Investment climate; Epz; Barrier; Knowledge spillovers; Business opportunities; Free imports; Business environment; Regulatory frameworks; Export processing; Trade partnership; Foreign suppliers; Export taxes; General agreement on tariffs; Industrial policy; Market standards; Trade promotion; Regional integration; Tax exemptions; International standards; Sustainable growth; Producers; Trade promotion agency; Labor costs; Free zones; Skilled workers; Commodity; Export performance; Gdp; Mutual recognition agreement; Individual firms; Bond; Special regimes; Foreign currency; Domestic industries; Export value; Trade policy; Crowding out; Currency; Common market; Benchmark; Domestic producers; Export incentives; Specialization; Exporters; Policy decisions; Free entry; Labor force; Incentive structure; Economic activity; Regional trade; Trade agreement; Apparel exports; Apparel sector; Comparative advantages; Central bank; Trade diversion; Customs; Private sector development; Local currency; Domestic suppliers; Rules of origin; Mutual recognition; Special incentives; Free trade areas; Transport costs; Apparel; Customs territory; Commodity export; Free access to imports; Competitive advantage; Economic crisis; Mutual recognition arrangement; Export sector; Competitiveness; Regulatory framework; Communication technologies; Customs union; Trade policy environment; Harmonization; Market size; Tax revenue; Export basket; Environmental; Future growth; Foreign firm; Foreign exchange; Trade competitiveness; Export sectors; Output; Comparative advantage; Outsourcing; Stamp duties; Information system; Income tax exemption; Business development; National development; Export performance requirements; Intermediate goods; Free zone; Job creation; Foreign markets; Export share; Free access; Apparel accounts; Agreement on subsidies; Investment opportunities; Intermediate inputs; Gdp per capita; International investors; Financial services; Policy environment; Duty drawback; Apparel export; Import duties; Free trade zones; Export processing zone; Foreign trade promotion; Customs administration; Free trade agreement; Border trade; Foreign companies; Foreign investors; Regulatory environment; World trade; Trade costs; Export volumes; Global competitiveness; Free trade zone; Regional trade agreements; Foreign direct investment; Corporate tax; Investment policy; Small countries; Customs regime; Domestic market; Export diversification; Competitive position; Customs procedures; Export processing zones; Domestic economy; Investor demands; Apparel manufacturing

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English

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http://hdl.handle.net/10986/27318

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Unlocking Central America's Export Potential

2012

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