LIMA: South America is significant in global dry bulk trade in the world, exports from the region accounting for around 650mt in 2013 that is equivalent to 15% of total dry bulk trade. However, in 2012-13, growth in South American dry bulk exports was weak and accounted for just 2% of global trade growth. This included a decline in iron ore, coal and minor bulk shipments out of the region.
Despite weak growth in 2012-13, this year has seen an improvement in South American exports, with total growth of 70mt expected in 2014-15, which would account for 20% of global dry bulk trade growth. Iron ore export growth is expected to make up 48mt of this rise .