SOUTH

AMERICA
PERU
• Peru is classified as upper middle income by the World
Bank and is 39th largest in the world by total GDP.

   ACTUAL PREVIOUS
2018-02-19 2.2 % 2.5%
2018-05-21 3.2% 2.2%
2018-08-22 5.4% 3.1%
2018-11-21 2.3% 5.5%
ARGENTINA
• Argentina is the third biggest economy in Latin America.
• Shipment of agricultural product has been the motor of
Argentina’s Growth in recent years.
• In addition Argentina has been experiencing a record
growth in the automobile, textile, and power sectors.
• Argentina sees 2019 economic rebound after 1 percent
2018 contracted. Argentina’s gross domestic product is
expected to contract 1 percent in 2018 but grown by at
least 1.5% next year.
 
VENEZUELA
Actual Previous Highest Lowest Dates Unit Frequency
-16.60 -16.50 36.10 -26.70 1998 - percent Quarterly Constant
1997
2017 prices
Factors that contribute Venezuela growth
rate:
• 60%  • GDP Annual Growth
        Financing, Insurance, real state and Rate in Venezuela
business services; communication, averaged 1.62
transport and warehousing; trade, repairs, percent from 1998
restaurant and hotels; community,
until 2017, reaching
personal, household and goverment
account
an all time high of
36.10 in first quarter
• 16% of 2004 and a record
        Manufacturing and Mining low of -26.70 percent
• 12.3% in the first quarter of
2003.
        Oil exploitation
• 12%
      Construction and water and electricity
distribution account
 ECUADOR
Actual Previous Highest Lowest Dates Unit Frequency

0.90 1.60 10.20 -3.40 2000 - percent Quarterly

2018
Factors that contribute Ecuador
Growth Rate:
• Ecuador economy  is highly
dependent on oil exports with
58% shipment of oil as total
export which is two fifth  of
Government revenue
• A strong inflow of remittances
has boosted household incomes
and supported solid growth in
private consumption
• GDP Growth rate in
Ecuador averaged 0.94
percent from 2000 until
2018, reaching an all
time high of 3.40 percent
in the 4th quarter of 2003
and a record low of -1.90
percent on the 2nd
quarter of 2003.
CHILE
• The economy of Chile advanced 2.8 percent year-on-year
in the third quarter of 2018, slower than an upwardly
revised 5.4 percent expansion in the previous period
which was the strongest increase since 2012. Figures
came slightly below market expectations of a 2.9 percent
advance, pointing to the slowest growth since the third
quarter of 2017. Household consumption, government
spending and exports increased at a softer pace. Among
economic activities, weaker growth was widespread, and
the mining sector contracted.
Factors:
• Household Consumption-3.8%
• Financial Services-3.9%

• Government spending-2.3% • Business Services-3.0%

• Investment - 7.1% • Personal services-4.0%

• Manufacturing Sector- 0.6%
      -investment in machinery & equipment 11.8%
      -investment in construction - 4.4% • Construction- 4.1%
• Imports -8.4% • Utilities -1.2%
• Exports- 1.7% • Agriculture -7.5%
• Production in:  • Real Estate - 3.8%
     1. food-0.3%
     2. Wood and furniture-0.6%
     3. Non metallic and metallic minerals-1.8%
• Restaurants & Hotels-1.8%
• Transport-2.7%
• Communication & Info services-2.5%
BRAZIL

• The Brazilian economy expanded 0.8 percent on quarter in

the third quarter of 2018, above a 0.2 percent rise in the
previous period and in line with market expectations. It is
the highest growth rate since the first quarter of 2017,
mainly due to a rebound in investment and government
spending after a nationwide truck strike during May and
June caused supply disruptions and weighed down on
growth.
Factors:
• Goverment Defense, education, and health -15%
• Wholesale and retail trade- 11%
• Real Estate- 8%
• Financial services-7%
• Industry-18% with Manufacturing - 11% and construction- 4%
• Agriculture and Livestock sector-5%
• Household consumption-63%
• Government expenditure-20%
• Gross fixed capital formation-16%
• Exports-13%
• Imports-12%

  
COLOMBIA
• The Colombian economy advanced 2.7 percent year-on-
year in the third quarter of 2018, following a 2.8 percent
growth in the previous period and matching market
expectations
• Output rose at a slower pace for: finance & insurance (1.7%
vs 2.7% in Q2); professional services (3.6% vs 5.6%); public
administration (4.5% vs 5.3%); arts & entertainment (1.0% vs
3.4%); trade, repairs, restaurants & hotels and transportation
(2.6% vs 3.7%); manufacturing (2.9% vs 3.6%) and agriculture
(0.1% vs 5.8%). In contrast, both the mining sector (1.0% vs
-2.6%) and the construction sector (1.8% vs -6.0%) recovered.
Also, faster growth was seen in information & communication
(3.7% vs 2.5%) and utilities (3.0% vs 2.3%).
• On quarter, the GDP expanded 0.2 percent, the least in a year,
after a 0.6 percent advance in the second quarter and below
market expectations of a 0.4 percent rise.
• GDP Annual Growth Rate in Colombia averaged 3.94 percent
from 2001 until 2018, reaching an all time high of 8.50 percent
in the third quarter of 2011 and a record low of 0.30 percent in
the fourth quarter of 2008.
PARAGUAY
• The economy of Paraguay advanced 6.2% year-on-year in Q2
2018, following an upwardly revised 4.7% growth in Q1.
• It is the strongest expansion since the first quarter of 2017,
boosted by a faster rise in manufacturing (10% compared to
6.2% in Q1), namely metal products, non-metallic minerals,
beverages and tobacco, machinery and equipment,
chemicals, wood products, paper and cardboard, textiles and
clothing, meat and dairy. There was also a rebound in
construction (16.1% compared to -3.7%) and in livestock,
forestry, fishing and mining (2.3% compared to -3.3%),
namely poultry, pigs and milk. On the other hand, a slowdown
was seen in internal trade (5.9% compared to 6.4%) and
agriculture (0.7% compared to 1%) and utilities declined (-
0.2% compared to 7.7%).
• On a quarterly basis, the economy shrank 0.3%, following a
downwardly revised 0.5% fall in Q1. 
• GDP Annual Growth Rate in Paraguay averaged 3.49 percent
from 1995 until 2018, reaching an all time high of 16.40 percent
in the first quarter of 2013 and a record low of -7.70 percent in
the second quarter of 2009.