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What countries recorded economic growth?

Report of ECLAC


The Economic Commission for Latin America and the Caribbean (ECLAC) published a report that analyzes the behavior of countries within the region.

With the name of "Preliminary Balance of the Economies of Latin America and the Caribbean in 2017" is one of the relevant annual documents in the macroeconomic field.

An interesting fact that presents in this version is that of the five countries that had the highest economic growth during 2017, four were from Central America:

1) Panama: the Central American country was the one with the highest GDP growth in the region during 2017, registering an increase of 5.3%.

2) Dominican Republic: this country presented the second highest GDP growth during 2017. Its index was 4.9%.

3) Nicaragua: with a GDP growth of 4.9%, this country ranks as the third largest increase in the macroeconomic index within the region.

4) Paraguay: this country is the only one in South America among those that showed the greatest growth in its GDP. His was 4%.

5) Honduras: it is the fifth country with the best GDP index in 2017. Its growth was 3.9% and Cepal ensures that these numbers will continue to increase.

In counterpart, Venezuela continues to be the worst economic performance and the only country that presents the index of its GDP in negative.

In addition to the Venezuelan country, the countries that make up the bottom of the table, with a lower rate compared to last year, are: Cuba (+ 0.5%), Brazil (+ 0.9%), Ecuador (+ 1%), Haiti (+ 1.3%).

For its part, Chile also had a reduction in its growth rate, although it was only 0.1%. In this way, closed 2017 with 1.5% of GDP.

The main factor was the lack of solidity presented in domestic demand. While, on the other hand, the increase in international prices of raw materials benefited the southern country.

On the other hand, Venezuela can not reverse its economic situation. After this edition of the report prepared by the ECLAC, this country accumulates four consecutive years showing decrease. In total, since 2013 records a contraction of 31.9%.

The inflation of the country that is under the presidency of Nicolás Maduro reached record figures in 2017. According to Infobae, the Venezuelan Parliament recorded an inflation higher than 6,100%.

ECLAC says that if the same scenario is maintained in this country, it would close in 2018 with another decrease of approximately 5%. While the International Monetary Fund (IMF) ensures that this year the rate of inflation in Venezuela would be 13,000%.