Latin America faces GDP contraction in 2015

GDP contractions in Latin America

Latin America is projected suffer a negative growth of –0.3% in 2015 and resume marginal growth of 0.7% in 2016, according to the 5 October 2015 estimates of ECLAC, the UN Economic Commission for Latin America and Caribbean.

Among the main factors behind the growth drop are a weak internal demand; a global environment marked by a low growth of the developed world; an important deceleration in emerging economies, especially China; the strengthening of the dollar and a growing volatility in financial markets; and an important fall in primary goods prices.

South America is expected to contract by –1.6% while Mexico and Central America would grow by 2.6%.

Brazil's GDP is projected to contract by 2.8% and that of Venezuela by 6.7%. Both the countries are likely to continue the negative growth in 2016 too with Brazil shrinking by –1% and Venezuela by –7%.

Mexico's growth projection for 2015 is 2.2%, Argentina's 1.6%,Colombia's 2.9%, Peru 2.7% and Chile 2.1%.

Panama will have the highest growth at 5.8%, followed by Dominican Republic at 5.6% and Bolivia at 4.4%

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Daily Tip

What are the main concerns on Business Development for me?

Me and others, Business developers are asking themselves questions such as:

• Where else can we discover customers that we currently serve?

• What other verticals can our product/or service deliver its value to?

• What changes got to be made to the product/service to unravel other target audience’s problems?

• What needs do existing customers experience that the corporate also can solve with its core competencies?

What is necessary to do in Business Development for me?​

• Develop your strategy, be clear what you want and how you are going to get it, do your current state assessment.

• Set goals for what you want to achieve, define the work and timescales, plan and plan, measure progress.l

• Present a clear proposal on the benefits to the client of your product or service.

• Understanding your market/sector and the specific needs or problems faced within it.