For heavily trade-dependent locales like South Florida, COVID-19 has been devastating. The state’s $154 billion in merchandise trade (along with $86 billion in tourism) will quickly become relics of the past. Our major trading partners in Latin America and the Caribbean have yet to feel the brunt of the Coronavirus but are expected to see regional GDP contract by nearly 2%, although that is a conservative estimate.
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For heavily trade-dependent locales like South Florida, COVID-19 has been devastating. The state’s $154 billion in merchandise trade (along with $86 billion in tourism) will quickly become relics of the past. Our major trading partners in Latin America and the Caribbean have yet to feel the brunt of the Coronavirus but are expected to see regional GDP contract by nearly 2%, although that is a conservative estimate.