In the first semester of 2018, industrial activity in Guatemala decreased by 5% compared to the same period in 2017, explained by a decrease in mining activities, affected by the shutdown of operations at Minera San Rafael.
The index of industrial activity prepared by Central America Business Information (Cabi), shows that the mining sector registered a decrease of 41% compared to the first half of last year, reflecting the effect generated by the suspension of Minera San Rafael.See "Mining Company Still Not Operating"
In the first quarter of 2018, the manufacturing and services sectors recorded falls of 4,000 and 7,000, respectively, in the monthly average number of affiliates to the social insurance scheme compared to 2017.
One example of the contraction observed in industrial activity is what occured in free zones.The Association of Private Free Zones of Guatemala explained that due to the closure of more than one hundred companies, some 1,500 jobs have been lost.
The union of industrialists projects that the economy will grow by 6% this year and has raised concern over the fall in manufacturing activity.
From a statement issued by the Union of Industrialists in Panama:
Panama will continue to lead economic growth in Latin America and it is estimated that it could close 2015 at 5.8%; while for 2016 the amount projected is 6%.
The production of the country's industrial sector started in 2015 with a bit more dynamism, with the Volume Index of Industrial Production increasing by 0.4% in January 2014 to 0.8% in January 2015.
A statement from the Central Reserve Bank (BCR):
Industrial sector shows signs of dynamism January 2015
The production of the industrial sector of the country started 2015 with more dynamic, as the result of Volume Index of Industrial Production -IVOPI-, which recorded an annual increase of 0.8%, the Central Bank reported; also noted that in the same month but in 2014, the index variation was 0.4%.
Economic activity showed an increase of 4.6% between January 2013 and January 2014, driven, among other things, by a boom in housebuilding.
Nicaragua's economy has been keeping pace with growth as reflected in the latest report by the Central Bank, in which the results of the economic activity in the last twelve months up to January 2014 have been collected.
China is losing its cheap labor advantage, opening opportunities for growth in the manufacturing sectors of countries like Nicaragua.
According to a report by Stratfor, a geopolitical intelligence firm based in Texas, "China's economic problems have opened the door to 16 different countries, including Ethiopia, Mexico, Indonesia and Peru, to become global forces in the growth of the manufacturing sector, "noted an article in Americaeconomia.com.
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