Which Economy Will Grow Most This Year?

In its latest update of economic growth projections for 2019, ECLAC estimates that the Dominican Republic will close the year with a 5% increase, followed by Panama, which would reach a growth rate of 3.7%.

Thursday, November 14, 2019

According to economic growth projections for Latin America, which were estimated by the Economic Commission for Latin America (ECLAC) and updated in November, the Dominican Republic will be the country in the region that will increase its production the most this year.

It is followed by Panama with 3.7%, Guatemala with 3.3%, Honduras with 2.9%, El Salvador with 2.2% and Costa Rica with 1.8%. In the case of Nicaragua, the international organization estimates that the economy will contract by 5% by the end of 2019. See full updated table.

For the economies of Central America and Mexico, meanwhile, is expected an expansion rate of 0.7% for 2019 and 1.6% for 2020, values that imply a reduction with respect to the average growth rate observed since 2014 in this subregion, states the statement issued.

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More on this topic

Economic Outlook for the New Year

January 2019

Excluding Nicaragua, the economies of Central American countries are projected to increase 2%, however, for the business sector some of the expectations may be too optimistic.

The 5.6% growth estimate for Panama is too optimistic for the private sector, as no major changes are expected compared to 2018.

Central America Towards 2019

December 2018

Higher domestic demand and increased investment are the factors that will influence the 3.3% growth forecast for the regional economy next year.

According to forecasts by the Economic Commission for Latin America and the Caribbean (ECLAC), in 2019 Panama will be the economy with the highest growth in Central America, with an expected rate of 5.6%.

Economic recession caused by the crisis

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New World Bank projections estimate that because of Nicaragua's political crisis, the country's GDP will fall 4% this year and 1% in 2019.

According to the expectations of the international organization, Nicaragua will be the only economy that will decrease in Central America, because of the political and social crisis in which the country is involved since last April, it is expected that the Gross Domestic Product (GDP) will decrease 3.8% in 2018 compared to 2017.

ECLAC: Latin America to Grow 4.1% in 2010

December 2009

Economic recovery from the international crisis in Latin America and the Caribbean will be quicker than expected a few months ago.

In its annual report Preliminary Overview of the Economies of Latin America and the Caribbean 2009, the regional commission of the United Nations projects positive growth rates for most countries, but explains that there is still doubts about whether this recovery will be sustainable over time, given that the external scenario continues uncertain, which may affect growth expectations in the region.

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