By: Staff Writer
September 11, 2026
The Inter-American Development Bank (IDB) in conjunction with the World Trade Organisation (WTO) said in joint report that digitally delivered exports in the Caribbean totalled over $30 billion in 2024, showing a 500 percent increase from 2005 where it was only $5 billion.
The report titled” Digital Trade in Latin America and the Caribbean: Connecting Markets, Powering Growth,” said that trade in digitally delivered services has been growing faster than trade in goods and other services. In Latin America and the Caribbean (LAC), exports of digitally delivered services have grown at an average annual rate of 9 percent since 2005 (slightly higher than the global average of 8.4 percent), compared with 5 percent for the region’s goods exports over the same period.
The report also said: “New technologies and infrastructure investments present a significant opportunity to expand trade in digitally deliverable services10 in LAC.
“Digitalization enhances productivity and reduces trade costs, particularly by minimizing the need for physical interaction.
“Simulations through 2040 suggest that LAC’s digitally deliverable services exports could grow by up to 7.9 percent annually, with digitalization alone contributing 4.5 percent.
“By then, they could account for up to 8% of the region’s total trade in goods and services. While the results vary across countries, some—such as Costa Rica, Uruguay, and the Caribbean countries—could see digitally deliverable services exports accounting for more than 17 percent of total exports. Digitally deliverable services trade in LAC could evolve by 2040.”
Digital trade also offers opportunities to deepen regional integration, the report notes. At present, intra-regional digital trade in LAC economies is limited compared to Europe, Asia and North America, and well below the level of intra-LAC goods trade, suggesting sizeable scope for expanding cross-border digital activity within the region.
The report examines the factors that play a critical role in shaping an economy’s participation in digital trade.
These include digital infrastructure and connectivity, market openness for backbone inputs, regulatory policies, cross-border payments, logistics and customs processes, export promotion and firms’ capabilities, digital skills, and access to finance.
Drawing on available information, the report assesses the position of LAC economies across these dimensions.
Based on the analysis, the publication presents a menu of practical policy actions that governments can pursue to enhance their participation in digital trade.
Depending on their specific circumstances, challenges and priorities, LAC economies have a choice of initiatives that best fit their needs and may develop a customized plan that supports the prioritization of actions, the mobilization of resources, and the engagement of key stakeholders.
The WTO, IDB and the World Bank can continue to play an important role in supporting their efforts by providing technical assistance, policy advice and financing in accordance with their specific mandates.