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POST PANDEMIC COVID-19 ECONOMY RECOVERY

Enabling Latin America and the Caribbean to better harness e-commerce and digital trade

Enabling Latin America and the Caribbean to better harness e-commerce and digital trade

Latin America and the Caribbean (LAC) has been one of the hardest hit regions by the COVID-19 pandemic. Restrictions and other interventions to reduce contagion and preserve public health have heavily impacted the economy. In 2020, regional GDP experienced one of the largest falls in history, with GDP per capita dropping to 2010 levels. This led to a major increase in unemployment, informality and poverty. Regional trade in goods also fell in 2020, albeit less than during the 2008-2009 financial crisis. Tourism and international transport were more severely hit than during the previous crisis, while trade in ICT- and digitally-enabled services resisted better.

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