Friday , April 23 2021

Chile leads growth of Pacific Alliance countries in the third quarter of 2018




In the midst of a weak export scenario, the Gross Domestic Product (GDP) of the Pacific Alliance countries, Mexico, Colombia, Chile and Peru decelerated in the third quarter, however, the local economy the best performance in the period.

On Monday, the Central Bank reported that Chile's Gross Domestic Product (GDP) decelerated in July-September, posting a 2.8% expansion, compared to 4.5% and 5.4% growth in the first and second quarter, respectively.

The figure was favored by the positive performance of the investment, which grew at a rate of 7.1%, its highest level since the second quarter of 2013, and which partially contrasts the brake on exports.

Meanwhile, on Friday, Mexico's National Institute of Statistics and Geography (INEGI) reported that the economy grew by 2.5% in July-September compared to the same period in 2017, slightly less than 2.6% in second quarter, driven by the expansion of 3.2% in the tertiary sector, which represents 60% of GDP, and includes retail and services.

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

In the case of Peru, the National Institute of Statistics and Informatics (INEI) reported that the economy grew 2.3% in the third quarter, which represented a slowdown compared to 3.2% in the first and second quarters. and 5.5%, respectively.

As in the case of Mexico, the increase was explained by the favorable performance of private consumption and investment, amid the fragility of exports.

In turn, the National Statistics Department (DANE) reported last week that the Colombian economy grew 2.7% a year in the third quarter, down from 2.8% in April-June, and the average of expectations of the market, but that showed a recovery of the sectors that were contracting.


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