Economic growth in Latin America has been stagnant for 25 years, expert warns

Economic growth and productivity in Latin America and the Caribbean have been stagnant for 25 years and the forecasts for 2030 are not good, concluded experts at the IV Meeting of the Conference on Science, Innovation and Information and Communications Technologies of the Economic Commission for Latin America and the Caribbean (ECLAC) this Friday.

The Italian Carlo Pietrobello, professor of the UNESCO Chair of Science, Technology and Innovation for Sustainable Development in Latin America, was in charge of one of the presentations at this meeting.

And although he highlighted a slight technological stability in Latin America, he regretted that the gap with other European or American countries is growing: “Productivity in the region only represents 40% of its capacity compared to other international markets such as the US.” .

The Italian showed that in relation to investment and development in technological productivity, Latin American countries are “far below” the rest of the world and attributed this to the heterogeneity of the territories in which “the rich are getting richer.” and the poor are getting poorer.”

Use of natural resources

During the presentation, the expert clarified that natural resources are and have historically been the main support of many territories, but that “to move forward” we must begin to take into account the green transition.

“Countries must take into account the green and digital transition, and learn to produce minerals with greener technologies”, all to improve the presence of companies in international trade from a sustainability perspective.

Good use of natural resourceswill help local companies enter the international business landscape” in Latin America and the Caribbean, since according to Pietrobello, it is currently imported eight times as much as it is exported to other countries.