Global Economic Prospects

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Latin America and the Caribbean

Growth in Latin America and the Caribbean slowed markedly to 0.8 percent in 2014 but with diverging developments across the region. South America slowed sharply as domestic factors, exacerbated by China’s cooling economy and declining global commodity prices, took their toll on some of the largest economies in the region. In contrast, growth in North and Central America was robust, lifted by strengthening activity in the United States. Strengthening exports on the back of the continued recovery among high-income countries and robust capital flows should lift regional GDP growth to an average of around 2.6 percent in 2015–17. A sharper-than-expected slowdown in China and a steeper decline in commodity prices represent major downward risks to the outlook.

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See the regional audio slideshow by the author.
What Does a Slowdown in China Mean for Latin America and the Caribbean?