Latin America unlikely to take advantage of weaker currency

There appears to be some evidence of weaker currencies helping exports in volume terms. However, the nominal and real trade-weighted indices have not depreciated to such an extent since the currencies of most other trade partners have also depreciated against the dollar. 

"It seems that the currency depreciation alone would be able to lift exports meaningfully given depressed growth in China and the low price elasticity of Latam exports (commodities). As a result, for most Latam economies export gains could be limited and may not be strong enough to stimulate a strong investment cycle in the medium term", says Societe Generale in a research note to its client.