This edition of the International Trade Outlook for Latin America and the Caribbean analyses the complex conditions facing the region’s trade in 2023, marked by weak global demand, falling commodity prices and the growing interconnections between trade and geopolitics. It also gives an overview of trade relations with China in recent decades: although this trade has expanded significantly, it remains characterized by the exchange of raw materials for manufactures. Lastly, the report examines the progress made and challenges faced by the region in the area of trade facilitation. It concludes that there is a need to redouble efforts in the digitialization of trade documents and processes and to explore innovative financing modalities to improve the region’s transport and logistics infrastructure.