In this post, let's take a quick look on the economic situation of a few Latin American countries.
Argentina: Capital flight out of the country has slowed from 2009 but is still a cause for concern, according to data released by The National Statistics Office. In 2009, $7.47B left Argentina according to Balance of Payments data. Capital flight is an important indicator of internal turmoil especially with respect to Argentina. The political conflict due to the government's plan to pay down debt is accelerating capital flight again this year.
Brazil: According to minutes of the Central Bank Monetary Committee, the reference interest rate is likely to be raised.
Chile: Foreign trade rose 37.5% reaching $8.14B in February. Trade with Asia and Mercosur countries grew significantly which is good since those regions are experiencing rising economic growth and income levels.
Colombia: The GDP grew 1.14% in the last quarter of 2009. The country achieved ten years of consecutive positive GDP growth since 2000. Economists predict a GDP growth of 2.35% this year and 3.58% in 2011.
Mexico: Manufacturing industry recorded a 3.6% in January due to rising exports to the U.S. Mexican exports to the U.S. grew by 25.5% year-over-year in January due to strong U.S. demand.
Peru: Private investment in the country is expected to rise 8% this year after a fall of 15% in 2009. The GDP is expected to grow by 5.5% this year.
Source: CEIC Macro Watch, Latin America