Because of the fact that in the first six months of the year Guatemala's oil bill totaled $1,440 million, 6% more than what was reported in the same period in 2018, businessmen in the sector project a rise in sales at the end of 2019.
Figures from the General Directorate of Hydrocarbons (DGH) of the Ministry of Energy and Mines (MEM), specify that between the first half of 2018 and the same period of 2019, the amount of the oil bill, which includes the cost of importing oil derivatives such as gasoline, diesel, bunker, asphalt, kerosine, butane, gas, petcoke, among others, increased by $78 million, going from $1,362 million to $1,440 million.
As a result of an increase in investment in new constructions and in the final consumption of households, GDP increased 3.3% year-on-year in the second quarter of the year.
During the second quarter of 2018, the economic activity volume, measured with the trend of the Gross Domestic Product (GDP) cycle, increased at an annualized rate of 3.6%, mainly as a result of an increase in investment in new buildings and final consumption of households.
Explained by a higher household consumption, in the first quarter of the year in Costa Rica the GDP registered a year-on-year growth of 3%.
The Central Bank of Costa Rica reported that "... In the first quarter of 2018, economic activity, measured by the trend of the real Gross Domestic Product (GDP), grew at an annualized rate of 3.2%, mainly as a consequence of higher spending on final household consumption, in gross capital formation and, to a lesser extent, in exports of goods.In the year-on-year comparison, production registered growth of 3.0%."
Explained by the performance of private consumption and gross investment, during the first three months of the year the Gross Domestic Product registered an increase of 3.4%.
The Central Reserve Bank reported that "... During the first quarter of the year, the Salvadoran economy grew at a rate of 3.4% due to a significant boost in domestic demand favored by higher private consumption and gross investment, while external demand benefited from thegood performance of the global economy, mainly from the United States and the region's main trading partners."
Manufacturing and Commerce, were the sectors that most influenced the year-on-year growth of 3.1% registered during the first quarter of the year.
From a statement issued by Banco Central de Honduras:
The overall result of the GDPT - seasonally adjusted - during the first quarter of 2018 compared to the fourth quarter of 2017 was 0.9% higher, mainly explained by an increase in external demand.
Financial Intermediation and Public Administration, were the sectors that most influenced the annual growth of almost 5% registered during the past year.
From a report by the Central Bank of Honduras:
In the last quarter of 2017, the national economic activity measured with the Quarterly Gross Domestic Product (GDPT) showed a quarterly increase of 0.1%, the effect of a combination of both internal and external unfavorable factors; meanwhile, it stood at 3.6% year-on-year (compared to the same quarter of 2016), both variations measured with the seasonally adjusted series of GDPT at constant prices.
The Bank of Guatemala's growth forecast of 7.7% has been adjusted to 5.9%, while the Guatemalan Chamber of Construction forecasts 2.9%.
Edgar Barquin, president of the Bank of Guatemala (Banguat), explained that this decision was made based on surveys which reflect employers' decisions about investing, as well as budget execution data, projections and plans by the Government, entry of foreign investment, authorized licenses for construction granted by municipalities, and building spaces.
Panama’s economy continues to grow strongly, buoyed by the Panama Canal expansion and large public infrastructure projects.
With average annual growth rates of 8.5 percent, Panama’s per capita GDP has more than doubled over the past decade. This impressive growth performance has been driven by a steady rise in public and private investment in a stable economic environment buttressed by prudent policies.
For the second consecutive year, the Nicaraguan economy has grown by more than 5%, maintaining the impetus registrated for 2011, when it grew by 5.4%.
The recent history of Nicaragua's economy is marked by ups and downs, averaging annual growth figures of 4%.
In presenting the macroeconomic statistics for 2012, authorities from the Central Bank of Nicaragua highlighted a record $2.677 billion in exports which is 18.3% greater than that achieved in 2011, an increase in foreign investment, which totaled $1.102 billion , and the contribution of remittances, which totaled $1.114 billion.
Optimism has waned on the part of the Chamber of Industries of Costa Rica who predict slower growth of activities in the sector, estimating it at just 3%.
A press release from the Chamber of Industry reads:
November 2012. A year that started with great expectations, but whose behavior has changed with the passing months. This is the summary for 2012 of Costa Rican industry, a period that is closing with positive numbers for the industry, but not the growth envisioned at the start of the year.
Forecasts are for growth of around 4%, and record volumes of remittances, surpassing $5 billion.
Elperiodico.com.gt reports that " Banguat technicians are still working on the Monetary and Credit Policy for Exchange 2013 to be approved by the Monetary Board (JM in Spanish) but they have already released some details of the macroeconomic forecast."
The chairman of the Monetary Board and the Banguat, Edgar Barquin, said that "projections for Gross Domestic Product (GDP) growth are between 3.5 percent and 3.9 percent, encouraged by indicators such as private sector credit, remittances, Foreign Direct Investment (FDI) and domestic demand. "
The Central Reserve Bank has adjusted to 1.3% - 1.5% its forecast for growth of the Salvadoran economy for 2012, from the 2% - 2.5% previously expected.
The causes of the slowdown are the sluggish economy of the United States, and the crisis in Europe.
An article in Elmundo.com.sv reports that "This is compounded by the effects that are occuring in agriculture especially the drought in the east" of El Salvador.
The IMAE was 9.73% and 9.26% in January and February 2012, the best bimonthly performance in the last three years.
Capital.com.pa describes this rate of growth as being "driven mainly by the good performance of sectors such as transport, storage and communications, construction, hotels and restaurants, mining and quarrying, trade and financial intermediation."
2012 will not be a good year for most of the Salvadoran productive sectors, whose executives expect no growth or only 1% growth.
The continuation of the slow recovery of the U.S. economy and increased exports to other Central American countries, are the only glimmers of hope to which businesses are clinging to reach 2% growth. If achieved, such growth rates will be considered very good for 2012, a year that will be marked by adverse conditions for the country's productive sectors.
The Nicaraguan Foundation for Economic and Social Development (FUNIDES) has presented its third report on economic conditions in 2011.
The report shows that although the country has shown steady growth of the economy, there are also challenges to achieve greater productivity and poverty reduction.
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