What Is Happening With The Largest Economies In Latin America

It was in 2009 when the global crisis hit the economy of Latin America. It was also the same year that Leonardo Gonzalez Dellan decided to follow his family and move to London despite his successful career as a banker and investor. From that time up until now, there have been improvements with countries in the region. Currently, the countries with the largest economies in the region include Brazil, Mexico, Argentina, Colombia and Chile.

Brazil suffered a recession between 2014 and 2106 but it was able to slowly recover last year up until now because of the booming automotive industry. Due to the upcoming election, the country’s full recovery might hit a few hurdles because of the uncertainties. Everything will be put into better perspective once the first quarter of the following year enters with a new president seating in the office. Last year, its GDP reached $1.93 trillion.

Mexico is welcoming its new president in 2019 in the name of Andres Manual Lopez Obrador. It also suffered a global financial crisis back in 2008 but it was able to make a comeback two years later. For 2017, its GDP was around $1.15 trillion. Major industries in the country includes petroleum, food and beverages, clothing, tobacco, consumer durables, chemicals, mining, iron and steel, tourism, textiles and motor vehicles.

Argentina is currently facing some challenges because of continued interest hike which has reached almost 60 per cent despite the fact that the United States dollar is going strong. In 2017, its GDP recorded was $620 billion.

Colombia’s GDP last year was $286 billion despite the ongoing fight of the country against drugs and internal conflict that is negatively impacting the country. The main industries of Colombia include coal, food processing, emeralds, clothing, chemicals, footwear, textiles, beverages, gold and cement.

Chile is the country with the fifth largest economy in Latin America. According to Leonardo Gonzalez Dellan, the small size of the country did not hinder it from prospering with a GDP of $247 billion. As of the latest survey, the country has only 18 million individuals and its capital city which is Santiago only houses 7 million people.

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