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Derek Chen World Bank January 2014 Global Economic Prospects January 2014 Latin America & Caribbean www.worldbank.org/globaloutlook

Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

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Global Economic Prospects Latin America and the Caribbean January 2014 World Bank Andrew Williams Jr Email: [email protected] Mobile: +1-424-222-1997 Skype: andrew.williams.jr http://twitter.com/AWilliamsJr http://xeeme.com/AmbassadorAWJ https://www.facebook.com/FAUBermuda http://www.yatedo.com/andrewwilliamsjr http://www.slideshare.net/andrewwilliamsjr http://www.linkedin.com/in/andrewwilliamsjr http://www.facebook.com/ajactionteam http://www.facebook.com/ambassadorawj http://www.facebook.com/andrewwilliamsjr http://www.facebook.com/AJGombeyBermuda

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Page 1: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Derek ChenWorld Bank

January 2014

Global Economic Prospects January 2014

Latin America & Caribbean

www.worldbank.org/globaloutlook

Page 2: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Subdued global trade, softer commodity prices, and

domestic challenges curbed economic growth in the Latin America and Caribbean region

in 2013.

Page 3: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Economic Growth in 2013

2010 2011 2012 2013e0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

6.0

4.1

2.6 2.5

Latin America and the Caribbean RegionReal GDP Growth 2010 - 2013

%

Page 4: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Economic Growth in 2013

2010 2011 2012 2013e0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

6.0

4.1

2.6 2.5

Latin America and the Caribbean RegionReal GDP Growth 2010 - 2013

%

Page 5: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Economic Growth in 2013

2010 2011 2012 2013e0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

6.0

4.1

2.6 2.5

Latin America and the Caribbean RegionReal GDP Growth 2010 - 2013

%

Page 6: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Economic Growth in 2013

South America Central and North America Caribbean0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5%

Real GDP Growth

Page 7: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Economic Growth in 2013

South America Central and North America Caribbean0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

4.1

%

South America Central and North America Caribbean0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

4.1

2012 2013e

%

Page 8: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Economic Growth in 2013

South America Central and North America Caribbean0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

4.1

1.7

2012 2013e

%

Page 9: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Economic Growth in 2013

South America Central and North America Caribbean0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

4.1

1.7

2.2

2012 2013e

%

Page 10: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Economic Growth in 2013

South America Central and North America Caribbean0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

4.1

3.0

1.7

2.2

2012 2013e

%

Page 11: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Economic Growth in 2013

South America Central and North America Caribbean0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

2.7

1.7

2.2

4.1

3.0

2012 2013e

%

Page 12: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Economic Growth in 2013

South America Central and North America Caribbean0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

2.1

4.1

3.0

2.7

1.7

2.2

2012 2013e

%

Page 13: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Slowdown in Exports and Lower Commodity Prices

Jan-Nov 2012 Jan-Nov 2013 2012 2013e-4.0

-2.0

0.0

2.0

4.0

6.0

8.0

10.0

7.6

4.1

-1.7

-2.6

Latin America and the CaribbeanExports Growth and Current Account Balance

(2012 & 2013)

Merchandise Exports Growth Current Account Balance

%

Page 14: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Slowdown in Exports and Lower Commodity Prices

Jan-Nov 2012 Jan-Nov 2013 2012 2013e-4.0

-2.0

0.0

2.0

4.0

6.0

8.0

10.0

7.6

4.1

-1.7

-2.6

Latin America and the CaribbeanExports Growth and Current Account Balance

(2012 & 2013)

Merchandise Exports Growth Current Account Balance

%

Page 15: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Slowdown in Exports and Lower Commodity Prices

Jan-Nov 2012 Jan-Nov 2013 2012 2013e-4.0

-2.0

0.0

2.0

4.0

6.0

8.0

10.0

7.6

4.1

-1.7

-2.6

Latin America and the CaribbeanExports Growth and Current Account Balance

(2012 & 2013)

Merchandise Exports Growth Current Account Balance

%

Page 16: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Slowdown in Exports and Lower Commodity Prices

Jan-Nov 2012 Jan-Nov 2013 2012 2013e-4.0

-2.0

0.0

2.0

4.0

6.0

8.0

10.0

7.6

4.1

-1.7

-2.6

Latin America and the CaribbeanExports Growth and Current Account Balance

(2012 & 2013)

Merchandise Exports Growth Current Account Balance

%

Page 17: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Slowdown in Exports and Lower Commodity Prices

Jan-Nov 2012 Jan-Nov 2013 2012 2013e-4.0

-2.0

0.0

2.0

4.0

6.0

8.0

10.0

7.6

4.1

-1.7-2.6

Latin America and the CaribbeanExports Growth and Current Account Balance

(2012 & 2013)

Merchandise Exports Growth Current Account Balance

%

Page 18: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Growth Outlook

Latin America and the Caribbean

South America Developing Central and North America

Caribbean0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

2.9

2.6

3.5 3.43.2

2.9

3.9 3.93.7

3.5

4.2 4.2

Latin America and the CaribbeanProjected Real GDP Growth (2014-2016)

2014 2015 2016

%

Page 19: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Growth Outlook

Latin America and the Caribbean

South America Developing Central and North America

Caribbean0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

2.9

2.6

3.5 3.43.2

2.9

3.9 3.93.7

3.5

4.2 4.2

Latin America and the CaribbeanProjected Real GDP Growth (2014-2016)

2014 2015 2016

%

Page 20: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Growth Outlook

Latin America and the Caribbean

South America Developing Central and North America

Caribbean0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

2.9

2.6

3.5 3.43.2

2.9

3.9 3.93.7

3.5

4.2 4.2

Latin America and the CaribbeanProjected Real GDP Growth (2014-2016)

2014 2015 2016

%

Page 21: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Pick up in Exports

2012 2013e 2014f 2015f 2016f0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

2.52.2

4.0

4.7

5.4

4.8

2.1

3.6

4.14.6

5.5

6.3

5.0

5.75.9

Latin America and the CaribbeanExports Growth (2012 - 2016)

LAC Central America Caribbean

%

Page 22: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Pick up in Exports

2012 2013e 2014f 2015f 2016f0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

2.52.2

4.0

4.7

5.4

4.8

2.1

3.6

4.14.6

5.5

6.3

5.0

5.75.9

Latin America and the CaribbeanExports Growth (2012 - 2016)

LAC Central America Caribbean

%

Page 23: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Pick up in Exports

2012 2013e 2014f 2015f 2016f0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

2.52.2

4.0

4.7

5.4

4.8

2.1

3.6

4.14.6

5.5

6.3

5.0

5.75.9

Latin America and the CaribbeanExports Growth (2012 - 2016)

LAC Central America Caribbean

%

Page 24: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Decline in Net Capital Flows

2012 2013e 2014f 2015f 2016f

$US bn $US bn % change $US bn % change $US bn % change $US bn % change

Capital Inflows 312.1 296.2 -5.1 285.3 -3.7 303.8 6.5 313.8 3.3

Private inflows, net 300.3 289.9 -3.5 277.8 -4.2 294.5 6.0 308.4 4.7

Official inflows, net 11.8 6.3 -46.6 7.5 19.0 9.3 24.0 5.4 -41.9

Page 25: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Decline in Net Capital Flows

2012 2013e 2014f 2015f 2016f

$US bn $US bn % change $US bn % change $US bn % change $US bn % change

Capital Inflows 312.1 296.2 -5.1 285.3 -3.7 303.8 6.5 313.8 3.3

Private inflows, net 300.3 289.9 -3.5 277.8 -4.2 294.5 6.0 308.4 4.7

Official inflows, net 11.8 6.3 -46.6 7.5 19.0 9.3 24.0 5.4 -41.9

Page 26: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Decline in Net Capital Flows

2012 2013e 2014f 2015f 2016f

$US bn $US bn % change $US bn % change $US bn % change $US bn % change

Capital Inflows 312.1 296.2 -5.1 285.3 -3.7 303.8 6.5 313.8 3.3

Private inflows, net 300.3 289.9 -3.5 277.8 -4.2 294.5 6.0 308.4 4.7

Official inflows, net 11.8 6.3 -46.6 7.5 19.0 9.3 24.0 5.4 -41.9

Page 27: Global Economic Prospects Latin America and the Caribbean January 2014 World Bank

Derek ChenWorld Bank

January 2014

Global Economic Prospects January 2014

Latin America & Caribbean

www.worldbank.org/globaloutlook