Saturday , October 23 2021

Chile leads the growth of the Pacific Alliance countries in the third quarter of 2018



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Amid the weak export scenario, the Gross Domestic Product (GDP) of the countries that formed the Pacific Alliance, Mexico, Colombia, Chile and Peru, slowed in the third quarter, however, the local economy was classified as one with the best performance in that period.

On Monday, the Central Bank reported that Chile's Gross Domestic Product (GDP) slowed in July-September, recording an expansion of 2.8%, compared with a 4.5% and 5.4% increase recorded in and the second quarter, respectively. -one.

That figure was favored by the positive performance of investment, which grew at a rate of 7.1%, the highest level since the second quarter of 2013, and which partly contrasted the export brakes.

Meanwhile, this Friday the National Institute of Statistics and Geography (Inegi) Mexico reported that the economy increased 2.5% in July-September compared to the same period in 2017, slightly less than 2.6% in the second quarter, and which was driven by expansion 3.2% of the tertiary sector, which represents 60% of GDP, and which includes retail and service.

This period was marked by the end of uncertainty regarding the renegotiation of the North American Free Trade Agreement (NAFTA) and the first announcement, already as the future president of Mexico, of Andrés Manuel López Obrador, who would consider this post December 1

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

As in the case of Mexico, the increase was explained by good performance from consumption and private investment, amid weak exports.

For its part, last week the National Statistics Department (DANE) reported that Colombia's economy expanded 2.7% per year in the third quarter, a figure below 2.8% in April-June, and average market expectations, but it showed a recovery contracted sectors.

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