Citi sees Latin America as one of the main winners of the “great trade realignment”

A new Citi report positions Latin America as one of the main winners of what it calls the “great trade realignment”, as global supply chains shift toward a more multipolar structure driven by tariff volatility, AI adoption and nearshoring trends.

Trade flows from Latin America to ASEAN countries surged 82% between 2019 and 2024, while exports from China to the region grew 59% over the same period.

Latin America’s exports to North America also rose 43% in the same period.

Citi highlights the region’s growing role as a vital supplier of critical minerals to Asia’s electronics industry, an agricultural alternative to the United States for products like soybeans, and an increasingly attractive destination for foreign direct investment, which grew 12% in the first half of 2025 against a negative trend in other developed economies.

Here is the link.