Account
Please wait, authorizing ...

Don't have an account? Register here today.

×

Latin American economy in slow recovery

altAlthough the worst of the crisis is over, there is still some fear in the markets that makes growth projections do not exceed 4% for Latin America. The private sector must come together to prevent the crisis from reaching the region again.

By Vanesa Restrepo


The storm has passed. The air conditioning and ventilation industry faced between 2008 and 2009 the most difficult years in recent history and today, before the end of 2010, the outlook seems much more encouraging. Well they say that after the storm always comes calm.

The last few years were difficult: In 2008 few had managed to predict the economic bubble that would burst in the United States, gestated in the real estate sector and that dragged the banks with it. As a result, there was a shortage of credits that affected the normal development of activities and investments in all productive segments. It was then that panic led to the bankruptcy of different companies and, particularly in the air conditioning and refrigeration sector, there was a suspension of new purchases, an increase in maintenance and a decrease in the rate of replacement of equipment and refrigerants by less polluting ones.

By 2009 the situation improved. With the experience and warnings to review every step that was taken, companies adjusted their budgets, those who provided technical services for maintenance and repair took care of those businesses, while some sectors relied on the resources approved by governments to finish replacing the ozone-depleting substances used as refrigerants.

In Latin America, in particular, the crisis was felt less strongly, as the governments of Colombia, Brazil, Argentina, Peru and Chile took steps to protect domestic markets. In total, the region's GDP fell to 1.8% according to ECLAC calculations, after having shown steady growth since 2004. In 2009 latin American GDP grew by approximately 4%, and it is expected that this 2010 will close with an increase of 5.2%, which would mean a recovery of the lost ground and a stabilization in the pace that was had.

- Publicidad -

Slow recovery
But the odds of growing come now. Firstly, because we are in the final stretch of the first phase of the Kyoto protocol, and the replacement has not yet been completed. That could lead to an increase in the market for equipment and new refrigerants.

However, it should be noted that the Economic Commission for Latin America and the Caribbean, ECLAC, published its first estimates for 2011, according to which the world economy will have a slight slowdown, particularly in the United States and Europe. Although this does not imply that there is a W effect on the economy (double decline and slow recovery), many of our economies will depend on the results obtained in the first world. Such is the case of Mexico, which imports and exports most of its products to and from the United States.



To that is added an abundance of dollars that generated a depreciation against local currencies, directly affecting exporters.

ECLAC estimates indicate that growth in Latin America will be around 3.9% in 2011. The International Institute of Finance (IIF) agrees with this assessment and provides an equal figure as a calculation of possible regional growth. The Andean Development Community, CAF, for its part, estimates that the economies of the area could be strengthened by 4% compared to the results they deliver for 2010.

Trading Options
A recent World Bank report explains that the U.S. share of Latin American exports fell from 44 percent in 1990 to 37 percent in 2008, while China's grew more than tenfold in the same period. However, the country remains a leading provider of technology and science.

That is why several of our countries are awaiting the approval of a new free trade agreement. The one that has sounded the most so far is that of Panama and Colombia, which has not yet been approved.

As a natural way to shield against a possible fall of some market is precisely to diversify. For this reason, the advisors of the organization, as well as some experts consulted by ACR LATINOAMERICA, suggest taking advantage of the benefits brought by regional agreements, such as Alba, Unasur, CAN, among others.  Through them you can access new market niches and generate competitiveness at the local level.

- Publicidad -

Local projections
The ECLAC report assures that in 2011 Panama will grow by 5%, similar to what it is estimated to have for the rest of 2010. Meanwhile, Bolivia will be at 4.5% this year and will have a slight slowdown to 4% in 2011.

Mexico, which was the most affected by the crisis, could reach up to 4.1% in 2010, a figure quite important if one considers that in 2009 it had a 6% drop in its economy. By next year it is predicted that it could be growing at a rate of 3% per year.

Colombia will grow 3.7% and next year will slow growth to 3%. Meanwhile, Costa Rica will grow at 4%, but will be surpassed by Chile which could reach 6% growth in 2011.

Ecuador will have a regular performance, with growth of 2.5%; being surpassed only by Venezuela, where growth is not calculated, but a stabilization after the 3% drop in the economic pace presented this year.

And in the rest of Central America, the regional body calculates increases of 2.5% per year for Honduras and 2% for Guatemala and Nicaragua.

No thoughts on “Latin American economy in slow recovery”

• If you're already registered, please log in first. Your email will not be published.

Leave your comment

In reply to Some User
Free Subscription
SUBSCRIBE TO OUR NEWSLETTER
DO YOU NEED A SERVICE OR PRODUCT QUOTE?
LASTEST INTERVIEWS

Entrevista a Jaime Maldonado, Presidente de Air-Con Inc

En entrevista con ACR Latinoamérica, Jaime Maldonado, Presidente de Air-Con Inc, destacó los proyectos que tiene la compañía para este año 2024, sobre todo con la transición de los nuevos refrigerantes. Además, Air-Con estará como expositor en Refriaméricas Miami, y Jaime nos habló sobre sus expectativas con el evento y lo que darán a conocer para todos los visitantes.

Webinar: Armstrong y Energía de Distrito

Por: Rafael Behar, Gerente de Apoyo de Aplicación, Armstrong Fluid Technology Los sistemas de energía de distrito se caracterizan por una o más plantas centrales que producen agua caliente, vapor y/o agua fría, que luego fluye a través de una red de tuberías aisladas para proporcionar agua caliente, calefacción y/o aire acondicionado a los edificios cercanos. Los sistemas de energía de distrito sirven a una variedad de mercados de uso final, incluidos los centros de las ciudades (distritos comerciales centrales), campus universitarios, hospitales e instalaciones de atención médica, aeropuertos, bases militares y complejos industriales. Al combinar cargas para múltiples edificios, los sistemas de energía urbana crean economías de escala que ayudan a reducir los costos de energía y permiten el uso de tecnologías de alta eficiencia. En este seminario web vamos a introducir a Armstrong Fluid Tecnología y su dirección para la energía urbana con enfoques en plantas de calefacción. https://www.acrlatinoamerica.com/20...

Webinar: Mejores Practicas para la Optimización de Sistemas

Importancia de la correcta automatización de plantas de agua helada con el objetivo de pasar al siguiente nivel, que es la optimización de los sistemas para obtener una mayor eficiencia energética y ahorro del costo operativo y de mantenimiento. Por: Camilo Olvera Rodríguez, Gerente de Ventas - México, ARMSTRONG FLUID TECHNOLOGY https://www.acrlatinoamerica.com/20...

Webinar: Enfriando el futuro: Las nuevas tendencias en refrigerantes para supermercados y almacenes

https://www.acrlatinoamerica.com/20... Únete a nosotros en este emocionante Webinar sobre las últimas tendencias en refrigerantes para supermercados y almacenes. Descubre cómo mantener tus productos frescos de manera eficiente, mientras contribuyes a la sostenibilidad y cuidado del medio ambiente. En esta sesión, exploraremos las innovaciones más recientes en refrigerantes ambientalmente preferibles, incluyendo tecnologías avanzadas de enfriamiento. Aprenderás sobre las ventajas de adoptar estas nuevas soluciones, no solo en términos de eficiencia energética, sino también en la reducción de emisiones y el cumplimiento de regulaciones ambientales. Por: Guillermo Brandenstein, Sr Account Manager - Honeywell

Webinar: ¿Es adecuada la forma de vender en las empresas HVAC/R?

En esta presentación se tratarán puntos neurálgicos sobre cómo lograr vender sin necesidad de licitar, teniendo muy presente que el cliente no nos compre porque somos los más baratos sino porque somos su mejor opción. Por: Ing. Rolando Torrado, CEO - Rolando Torrado https://www.acrlatinoamerica.com/20...
Load more...
SITE SPONSORS










LASTEST NEWSLETTER
Ultimo Info-Boletin