Latin America's GDP projected to grow by 4.75% in 2011

11 April 2011 20:47  [Source: ICIS news]

HOUSTON (ICIS news)--Economic growth in Latin America and the Caribbean (LAC) will average 4.75% in 2011 and 4.25% in 2012, the International Monetary Fund (IMF) said on Monday in its World Economic Outlook publication.

The GDP in the region expanded by 6.1% in 2010, following a 1.75% contraction in 2009, the IMF said.

In 2011, Brazil’s GDP is projected to grow by 4.5%, Argentina’s by 6.0%, Chile’s by 5.9%, Peru’s by 7.5%, Mexico’s by 4.6% and Colombia’s by 4.6%, according to the IMF.

For 2012, GDP growth projections are 4.1% for Brazil, 4.6% for Argentina, 4.9% for Chile, 5.8% for Peru, 4.0% for Mexico and 4.5% for Colombia.

The lowest listed growth projected in the region was for Venezuela, at 1.8% for 2011 and 1.6% for 2012.

The outlook for exporters of commodities, such as Brazil, Chile, Colombia, Peru and Uruguay, is mostly positive, despite signs of potential overheating.

Countries neighbouring Brazil are benefiting from its dynamic growth, and a slowdown of activity in Brazil could damage the region.

Meanwhile, prospects for Mexico are closely tied to the outlook for the US, the IMF said.

Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy

By: Ron Coifman
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