November 28, 2009 Leave a comment
A new report that explores the reasons for weak growth in Latin American and the Caribbean have blamed high transportation costs for undermining trade and having harmful impacts on the productivity of the entire economy. It says the region’s ports aren’t efficient enough either.
The Inter-American Development Bank (IDB) study found that the region as a whole spends nearly twice as much as the United States in freight expenses to import its goods. Most countries, it said, have higher freight rates when exporting to the United States than countries in the Far East and in Europe. Read more of this post