MERCOSUR Report No. 15 (2009-2010)
This report reviews and analyzes key aspects of the bloc's integration process in relation to both the internal and external agendas in the period from July 2009 to June 2010. The opening two chapters respectively analyze the macroeconomic outlook of the economies of the Southern Common Market (MERCOSUR) and their trade flows. The MERCOSUR countries' trade flows were not immune to the effects of the recessive state of the international financial crisis, which broke out in September 2008, and registered severe falls in 2009. The main sectoral issues involving MERCOSUR countries were in the area of trade relations between Brazil and Argentina, specifically the disputes affecting the bloc's smaller partners.