Latin America's Economic Recovery Is Beginning To Show Bright Spots in China-Latin America Cooperation(2)

Latin America's economic recovery is beginning to show bright spots in China-Latin America cooperation(2)

Affected by positive factors such as accelerating vaccination and rising international commodity prices, the Brazilian Ministry of Economy has recently raised its economic growth forecasts for this year and next to 5.3% and 2.51%, higher than the 3.5% and 2.5% predicted in May.

Mexico’s Deputy Finance Minister Gabriel Yorio recently stated that Mexico’s economy is expected to grow by 6% this year, an increase of 0.7 percentage points from the previous forecast. Official data show that Mexican merchandise exports in June were 42.6 billion U.S. dollars, a year-on-year increase of 29%.

According to Peru’s National Bureau of Statistics, Peru’s gross domestic product (GDP) will grow by 10% this year. Carlos Aquino, director of the Center for Asian Studies at the National University of San Marcos in Peru, believes that the recovery of Peru's economy, which is based on mining, is better than expected, mainly due to the rise of copper prices in the international market and the recovery of major economies in the world.

The Central Bank of Costa Rica recently raised its forecast for this year’s economic growth to 3.9%. The governor of the Colombian central bank, Rodrigo Cubero Breli, predicts that almost all industries in the country will experience a recovery.