By: Staff Writer
October 9, 2026
The Economic Commission for Latin America and the Caribbean (ECLAC) said in a new report that trade in services from the Caribbean to the United States has grown in 2025.
The report, United States-Latin America and the Caribbean Trade Developments, also said: “Overall, the U.S. is a net exporter of services to LAC. The U.S. services trade surplus with the region continued to improve in 2025, rising 8.4 percent to US$ 43 billion, from US$ 40 billion in 2024. It was mainly driven by the U.S. trade surplus with Brazil, which has expanded since 2021 and reached US$ 27 billion in 2025.
“On the other hand, the U.S. is a net importer of services from Costa Rica and the Dominican Republic, as well as from the Caribbean subregion, with which the services deficit widened sharply by 50.6 percent, from US$ 10.7 billion in 2024 to US$ 16.1 billion in 2025, largely reflecting a near-tripling of U.S. imports of insurance services from the subregion.”
The U.S. services trade deficit with the Caribbean narrowed in 2020 amid the COVID-19 pandemic, but it has widened continuously since 2021. In 2025, the services balance recorded its sharpest year-over year deterioration in more than twenty years, as the deficit deepened from US$ 10.7 billion in 2024 to US$ 16.1 billion in 2025.
Overall, Latin America and the Caribbean represented 22.2 percent of U.S. goods trade in 2025. Unusually large non-monetary gold flows, associated in part with tariff expectations and safe-haven demand, affected trade shares. Excluding non-monetary gold and goods under merchanting, the region’s share increased from 22.9 percent in 2024 to 23.2 percent in 2025.
The region represented 12.5 percent of U.S. services trade, with flows continuing to grow and shift toward digitally deliverable services. These accounted for 44 percent of U.S. services exports to Latin America.
Caribbean services exports to the United States grew by 26.1 percent, although concentrated trade flows can generate considerable volatility in small economies.
Patterns of integration are increasingly differentiated: Mexico and Central America have deepened ties with the United States, while South America has strengthened links with China, particularly in agriculture and minerals.
Meanwhile, the July 2026 USMCA joint review initiated annual reviews, and new Agreements on Reciprocal Trade are redefining market access, emphasizing supply chain security, labour standards and alignment vis-à-vis third countries.