By: Economic & Finance Report
Latin America will contract this year, about -0.6% according to the The Economic Commission for Latin America and the Caribbean (ECLAC). Some Latin American countries in the region are either heading to a recession or are already in a recession.
There has be slow growth rate recorded in some countries within the region, and the slow development of China and other emerging markets have not made it easier for Latin America to do substantial trading, without the growth of Latin America’s trading partners such as China, it makes it hard for Latin America to export and generate revenue from sales of goods and products. Much of South America trades commodities with China, and this variable definitely provides the contraction period to extend throughout the whole year of 2016.
In Central America, economies are seeing a decline of -1.9% from the previous year, which was 4.3% (2015) and it is currently 3.9% (2016), according from the data reported from (ECLAC).
The Latin Caribbean countries reported growth of 0.9% from the previous year in 2015 (ECLAC). -SB