Wednesday , May 31 2023

Chile leads the 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 countries that make up the Pacific Alliance, Mexico, Colombia, Chile and Peru slowed down in the third quarter, but the local economy ranked the best performing that period.

On Monday, the Central Bank reported that China's gross domestic product (GDP) slowed down in July-September, recording an increase of 2.8% compared to 4.5% and 5.4% in the first and second quarters respectively .

The figure was favored by the positive performance of the investment, which grew at a rate of 7.1%, the highest level in the second quarter of 2013 and partly contrasted with the export brake.

Meanwhile, on Friday, the National Institute of Statistics and Geography (Inegi) in Mexico reported that the economy grew by 2.5% in July-September, compared to the same period in 2017, slightly less than 2.6 % in the second quarter; which was driven by the 3.2% expansion of the tertiary sector, accounting for 60% of GDP, including retail trade and services.

The period was marked by the end of the uncertainty about the renegotiation of the North American Free Trade Agreement (NAFTA) and the first announcements, already as future president of Mexico, by Andrés Manuel López Obrador, who will assume the post December 1

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

As in the case of Mexico, growth was explained by the favorable performance of private consumption and investment, due to the weakness of exports.

Last week, the National Statistics Department (DANE) reported that Colombia's economy rose in the third quarter by 2.7%, below 2.8% in April-June, and the average of market expectations, but showed a recovery of the contracting sectors.

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