http://www.worldbank.org/globaloutlook
After a sharp recovery from the global economic crisis in 2010, when regional output expanded by 6 percent, growth in the Latin America and the Caribbean decelerated markedly, to an estimated 3 percent by 2012. Supply side constraints have become apparent in some of the larger economies, where output was near or above potential during the recovery phase, and which contributed to relatively high inflation and deterioration of current account balances. Despite a sharp deceleration in growth, regional output is only now in line with potential GDP.
Latin America & Caribbean Regional Outlook June 2013
1. 1
Cristina Savescu
World Bank
June 2013
Global
Economic
Prospects
Latin America & the
Caribbean
Regional Outlook
http://www.worldbank.org/globaloutlook
2. Growth in the Latin America and the Caribbean
region is expected to firm only marginally this year
to 3.3 percent from 3.0 percent in 2012.
2
3. Growth in the Latin America and the Caribbean
region is expected to firm only marginally this year
to 3.3 percent from 3.0 percent in 2012.
3
4. 0
1
2
3
4
5
6
7
2003-2007 2010 2011 2012 2013 2014 2015
Latin America and the Caribbean
4
GDP growth, percent
Source: World Bank, Global Economic Prospects 2013B.
Growth in the region will accelerate
only marginally through 2015
5. 0
1
2
3
4
5
6
7
2003-2007 2010 2011 2012 2013 2014 2015
Latin America and the Caribbean
5
GDP growth, percent
Source: World Bank, Global Economic Prospects 2013B.
5.3%
Growth in the region will accelerate
only marginally through 2015
6. 0
1
2
3
4
5
6
7
2003-2007 2010 2011 2012 2013 2014 2015
Latin America and the Caribbean
6
GDP growth, percent
Source: World Bank, Global Economic Prospects 2013B.
5.3%
Growth in the region will accelerate
only marginally through 2015
7. 0
1
2
3
4
5
6
7
2003-2007 2010 2011 2012 2013 2014 2015
South America
7
GDP growth, percent
Source: World Bank, Global Economic Prospects 2013B.
Latin America and the Caribbean
Growth in the region will accelerate
only marginally through 2015
8. 0
1
2
3
4
5
6
7
2003-2007 2010 2011 2012 2013 2014 2015
South America
8
GDP growth, percent
Source: World Bank, Global Economic Prospects 2013B.
Latin America and the Caribbean
Developing Central and North America
Growth in the region will accelerate
only marginally through 2015
9. 0
1
2
3
4
5
6
7
2003-2007 2010 2011 2012 2013 2014 2015
South America
Growth in the region will accelerate
only marginally through 2015
9
GDP growth, percent
Source: World Bank, Global Economic Prospects 2013B.
Latin America and the Caribbean
The Caribbean
Developing Central and North America
11. 0
2
4
6
8
10
12
14
16
30-Aug-08 30-Aug-09 30-Aug-10 30-Aug-11 30-Aug-12
Mexico
Colombia
Chile
Peru
Monetary policies remain accommodative
short-term policy interest rates, percent
Sour ces: Wor l d Bank; Dat ast r eam.
12. 0
2
4
6
8
10
12
14
16
30-Aug-08 30-Aug-09 30-Aug-10 30-Aug-11 30-Aug-12
Mexico
Colombia
Chile
Peru
Monetary policies remain accommodative
short-term policy interest rates, percent
Sour ces: Wor l d Bank; Dat ast r eam.
Brazil
13. Argentina
Antigua and
Barbuda
Belize
Bolivia
Brazil
Chile
ColombiaCosta Rica
Dominica
Dominican Rep.
Ecuador
Guatemala
Guyana
Honduras
Haiti
Jamaica
St. Lucia
Mexico
Nicaragua
Panama
Peru
El Salvador Suriname
Uruguay
St. Vincent and
Grenadines
Venezuela
-4.5
-3.5
-2.5
-1.5
-0.5
0.5
1.5
2.5
3.5
4.5
-4.5 -3.5 -2.5 -1.5 -0.5 0.5 1.5 2.5 3.5 4.5
Speed of gap closure in 2013, percentage points
Size of output
gap (2012)
Gap closing from below Overheating
Gap closing from aboveCrashing
14. Argentina
Antigua and
Barbuda
Belize
Bolivia
Brazil
Chile
ColombiaCosta Rica
Dominica
Dominican Rep.
Ecuador
Guatemala
Guyana
Honduras
Haiti
Jamaica
St. Lucia
Mexico
Nicaragua
Panama
Peru
El Salvador Suriname
Uruguay
St. Vincent and
Grenadines
Venezuela
-4.5
-3.5
-2.5
-1.5
-0.5
0.5
1.5
2.5
3.5
4.5
-4.5 -3.5 -2.5 -1.5 -0.5 0.5 1.5 2.5 3.5 4.5
Speed of gap closure in 2013, percentage points
Size of output
gap (2012)
Gap closing from below Overheating
Gap closing from aboveCrashing
15. Argentina
Antigua and
Barbuda
Belize
Bolivia
Brazil
Chile
ColombiaCosta Rica
Dominica
Dominican Rep.
Ecuador
Guatemala
Guyana
Honduras
Haiti
Jamaica
St. Lucia
Mexico
Nicaragua
Panama
Peru
El Salvador Suriname
Uruguay
St. Vincent and
Grenadines
Venezuela
-4.5
-3.5
-2.5
-1.5
-0.5
0.5
1.5
2.5
3.5
4.5
-4.5 -3.5 -2.5 -1.5 -0.5 0.5 1.5 2.5 3.5 4.5
Speed of gap closure in 2013, percentage points
Size of output
gap (2012)
Gap closing from below Overheating
Gap closing from aboveCrashing
16. Argentina
Antigua and
Barbuda
Belize
Bolivia
Brazil
Chile
ColombiaCosta Rica
Dominica
Dominican Rep.
Ecuador
Guatemala
Guyana
Honduras
Haiti
Jamaica
St. Lucia
Mexico
Nicaragua
Panama
Peru
El Salvador Suriname
Uruguay
St. Vincent and
Grenadines
Venezuela
-4.5
-3.5
-2.5
-1.5
-0.5
0.5
1.5
2.5
3.5
4.5
-4.5 -3.5 -2.5 -1.5 -0.5 0.5 1.5 2.5 3.5 4.5
Speed of gap closure in 2013, percentage points
Size of output
gap (2012)
Gap closing from below Overheating
Gap closing from aboveCrashing
17. Developments in the first quarter of
2013 underscore some of the downside
risks to the outlook
18. -4
-2
0
2
4
6
8
10
12
Argentina Brazil Chile Colombia Costa Rica Mexico Peru
Q1 2012
Q2 2012
Q3 2012
Q4 2012
Q1 2013
Sour ces: Wor l d Bank; Dat ast r eam.
A relatively weak start of the year in Latin America and
Caribbean
GDP, q/q per cent annual i zed change, sa
19. -4
-2
0
2
4
6
8
10
12
Argentina Brazil Chile Colombia Costa Rica Mexico Peru
Q1 2012
Q2 2012
Q3 2012
Q4 2012
Q1 2013
Sour ces: Wor l d Bank; Dat ast r eam.
A relatively weak start of the year in Latin America and
Caribbean
GDP, q/q per cent annual i zed change, sa
20. Large fluctuations of export
prices represent a major risk to
outlook for commodity
exporters.
21. Commodity exporters at risk
if commodity prices decline more quickly
-0.3
-0.2
-0.1
0
0.1
0.2
Latin America &
Caribbean
Oil exporters Oil importers
Oil prices decline to $80 by mid 2014
Impact, % of GDP
Source: World Bank.
22. Commodity exporters at risk
if commodity prices decline more quickly
-0.3
-0.2
-0.1
0
0.1
0.2
Latin America &
Caribbean
Oil exporters Oil importers
Oil prices decline to $80 by mid 2014
Impact, % of GDP
Source: World Bank.
23. Commodity exporters at risk
if commodity prices decline more quickly
-0.3
-0.2
-0.1
0
0.1
0.2
Latin America &
Caribbean
Oil exporters Oil importers
Oil prices decline to $80 by mid 2014
Impact, % of GDP
Source: World Bank.
24. Commodity exporters at risk
if commodity prices decline more quickly
-0.3
-0.2
-0.1
0
0.1
0.2
Latin America &
Caribbean
Oil exporters Oil importers
Oil prices decline to $80 by mid 2014
Impact, % of GDP
-1.8
-1.2
-0.6
0
Latin America &
Caribbean
Caribbean metal
exporters
Metals prices decline by 20% by mid 2014
Impact, % of GDP
Source: World Bank.
25. Commodity exporters at risk
if commodity prices decline more quickly
-0.3
-0.2
-0.1
0
0.1
0.2
Latin America &
Caribbean
Oil exporters Oil importers
Oil prices decline to $80 by mid 2014
Impact, % of GDP
-1.8
-1.2
-0.6
0
Latin America &
Caribbean
Caribbean metal
exporters
Metals prices decline by 20% by mid 2014
Impact, % of GDP
Source: World Bank.
26. Commodity exporters at risk
if commodity prices decline more quickly
-0.3
-0.2
-0.1
0
0.1
0.2
Latin America &
Caribbean
Oil exporters Oil importers
Oil prices decline to $80 by mid 2014
Impact, % of GDP
-1.8
-1.2
-0.6
0
Latin America &
Caribbean
Caribbean metal
exporters
Metals prices decline by 20% by mid 2014
Impact, % of GDP
Source: World Bank.
27. 27
Cristina Savescu
World Bank
June 2013
Global
Economic
Prospects
Latin America & the
Caribbean
Regional Outlook
http://www.worldbank.org/globaloutlook
Notas do Editor
GEP 2010 Presentation
The marked slowdown in South America reflects in part supply-side constraints but also weaker domestic and external demand
The marked slowdown in South America reflects in part supply-side constraints but also weaker domestic and external demand
The marked slowdown in South America reflects in part supply-side constraints but also weaker domestic and external demand
The marked slowdown in South America reflects in part supply-side constraints but also weaker domestic and external demand
The marked slowdown in South America reflects in part supply-side constraints but also weaker domestic and external demand
The marked slowdown in South America reflects in part supply-side constraints but also weaker domestic and external demand
The marked slowdown in South America reflects in part supply-side constraints but also weaker domestic and external demand
The marked slowdown in South America reflects in part supply-side constraints but also weaker domestic and external demand