According to the World Bank, the abrupt economic slowdown in the U.S. and China has altered the supply chains of Mexico and Brazil and has caused a sharp drop in exports from commodity-producing economies, such as Chile and Peru. A 7.2% decrease is projected for Latin America. The World Bank anticipates a drop in 8% of Brazil’s GDP, 7.3% for Argentina, 12% for Peru, 5.9% for Bolivia, 4.9% for Colombia and 4.3% for Chile. Among the least affected countries in the region are: Uruguay (-3.7%), Paraguay (-2.8%), Panama (-2%), Guatemala (-3%) and Costa Rica (-3.3%).

Source: EMOL