Sunday , May 16 2021

Chile leads the growth of the Pacific States in the third quarter of 2018

In the middle of a low-export scenario, the gross domestic product (GDP) of the countries that make up the Pacific Union, Mexico, Colombia, Chile and Peru slowed down in the third quarter, but the local economy ranked the one with the best performance over that period .

On Monday, the central bank reported that Chile's gross domestic product slowed down in July-September, registering a 2.8% growth, compared with 4.5% and 5.4%, and second quarter, respectively.

This figure was supported by the positive performance of the investment, which grew by 7.1%, which is the highest level since the second quarter of 2013 and which partly contradicts the export brake.

Meanwhile, on Friday, the Inegi National Institute for Statistics (Inegi) in Mexico announced that the economy grew by 2.5% in July-September compared to the same period in 2017, a little less than 2.6% in the second quarter, which is due to the 3.2% expansion of the tertiary sector, which accounts for 60% of GDP and includes retail and services.

The period was marked by the end of the uncertainty regarding the renegotiation of the North American Free Trade Agreement (NAFTA) and the first announcements, as the future president of Mexico, of Andrés Manuel López Obrador, who will take office on 1 December

In the case of Peru, the National Institute of Statistics and Informatics (INEI) reported that the economy grew by 2.3% in the third quarter, which is a slowdown compared to the first and second quarters, which is 3.2% and 5, 5%, respectively.

As in the case of Mexico, the increase is explained by the favorable performance of private consumption and investment, against the backdrop of weakness in exports.

Last week, the National Statistics Department (DANE) reported that the economy of Colombia increased by 2.7% per year in the third quarter, below 2.8% in April and June, and the average of market expectations, but this shows a recovery of the sectors who have concluded contracts.

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