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Cristina Savescu
World Bank
June 2013
Global
Economic
Prospects
Latin America & the
Caribbean
Regional Outlook
http://www.worldbank.org/globaloutlook
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
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
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
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
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
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
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
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
Growth has remained subdued
despite accommodative macro
policies.
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.
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
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
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
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
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
Developments in the first quarter of
2013 underscore some of the downside
risks to the outlook
-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
-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
Large fluctuations of export
prices represent a major risk to
outlook for commodity
exporters.
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.
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.
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.
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.
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.
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
Cristina Savescu
World Bank
June 2013
Global
Economic
Prospects
Latin America & the
Caribbean
Regional Outlook
http://www.worldbank.org/globaloutlook

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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
  • 10. Growth has remained subdued despite accommodative macro policies.
  • 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

Hinweis der Redaktion

  1. GEP 2010 Presentation
  2. The marked slowdown in South America reflects in part supply-side constraints but also weaker domestic and external demand
  3. The marked slowdown in South America reflects in part supply-side constraints but also weaker domestic and external demand
  4. The marked slowdown in South America reflects in part supply-side constraints but also weaker domestic and external demand
  5. The marked slowdown in South America reflects in part supply-side constraints but also weaker domestic and external demand
  6. The marked slowdown in South America reflects in part supply-side constraints but also weaker domestic and external demand
  7. The marked slowdown in South America reflects in part supply-side constraints but also weaker domestic and external demand
  8. The marked slowdown in South America reflects in part supply-side constraints but also weaker domestic and external demand
  9. The marked slowdown in South America reflects in part supply-side constraints but also weaker domestic and external demand
  10. GEP 2010 Presentation