Total Western Hemisphere exports to the world fell by over 6 percent in 2002, continuing the decline recorded in 2001 but at a lower rate. The international recovery evident in early 2002 subsequently lost momentum and the downturn has continued to have adverse effects on the trade of the Americas.

The purpose of this document is to inform Bank staff and other interested parties about recent developments in integration and trade among the countries of the Western Hemisphere and between these and other countries and world regions.