In 2022, only five countries in Latin America and the Caribbean will exceed their GDP for 2019, a prepandemic year, according to Eliana Barleta, representative of the Economic Commission for Latin America and the Caribbean (ECLAC).
According to the institution’s projections, the average growth level of the countries in the region will be 2.9% in 2022. The figure will be insufficient to overcome the 6.8% contraction experienced by the economy in this part of the world during 2020.
“The growth of 5.9% in 2021 will not allow to recover the product level of 2019, only nine countries of the 33 in the region will be able to recover the level, while in 2022 another five countries will achieve the level of before the pandemic, ”said Barleta.
Average growth in 2021, according to ECLAC
The average growth projected by ECLAC for Latin America and the Caribbean in 2021 was 5.9%. With this result, nine countries would be able to recover their GDP indexes from before the pandemic.
According to the estimates of the entity attached to the UN, for this period, a heterogeneous behavior was expected due to the growth of the region’s exports. The highest projection was found in countries with energy products such as Bolivia, Colombia and Guyana and Trinidad and Tobago, which together would have an increase in the price of their exports of 36%, added to an additional 4% increase in the volume of export, in total would be equivalent to an increase of 40%.
Finally, in a second group are the countries with mineral exports such as Chile and Peru, in which case the estimated rise in prices was 23%, added to a 4% increase in volume, resulting in a general increase of 27%.
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