The foreign trade performance of Latin America and the Caribbean reflects the weak global economy. Regional export values are expected to grow by just 1.5% in 2013 (3% in volumes and -1.5% in prices) - which is similar to the 1.4% growth observed in 2012.
Latinamerica and the Caribbean are poised to grow 3% this year, according to the July Economic Survey of Latin America and the Caribbean, which is down from the previous April estimate of 3.5%. Slower growth in the region’s two largest economies Brazil and Mexico, and more modest activity in Chile, Panama and Peru have pulled the average down.
Latin American and Caribbean countries will grow on average 3.5% this year supported by a strong domestic demand and the improved performance of Argentina and Brazil compared with 2012, according to the latest “Updated economic review of Latin America and the Caribbean 2012’ from the UN Economic Commission for Latinamerica and the Caribbean, ECLAC.
In Latin America and the Caribbean 94% of primary-school age children attended school, but the figure was down to 75% for secondary level of education. Likewise the average number of people on technical or university courses was three times higher in the richest quintile than in the poorest quintile, according to data collected by the Economic Commission for Latin America and the Caribbean (ECLAC).
Latin America and the Caribbean will experience stronger economic growth, despite ongoing uncertainties at international level (particularly difficulties faced by Europe, the United States and China), according to new estimates released Tuesday in Santiago de Chile, by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC).
Argentine Economy minister Hernan Lorenzino struck back at Colombia’s claim that it has overtaken his country to become South America’s second largest economy behind Brazil.
A weak global economy, mainly due to the difficulties faced by Europe, United States and China has affected growth in Latin America and the Caribbean. In 2012 the original growth estimate will fall from 3.7% to 3.2%, according to the latest estimate from the UN Economic Commission for Latinamerica and the Caribbean.
Foreign trade in Latin America and the Caribbean will suffer from the economic slowdown that started in the second half of 2011. The value of regional exports will increase by 4% in 2012, whereas imports will grow 3% - according to estimates presented in the new Economic Commission for Latin America study released on Thursday.
China has offered to set up a 10 billion dollars credit line for Latin American countries to support infrastructure projects in the region. The proposal was made by China's Premier Wen Jiabao as he wrapped up his visit to the region with a conference at the UN Economic Commission for Latin America and Caribbean, ECLAC, main offices in Santiago de Chile.
Premier of China, Wen Jiabao, will visit the headquarters of the UN Economic Commission for Latin America and the Caribbean (ECLAC) in Santiago, Chile, on Tuesday 26 June to deliver a lecture.