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  • Dany Goldraij
    • Oct 18, 2015
    • 2 min read

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%

http://www.businesswithlatinamerica.com/

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