Latin America and Caribbean economies are forecast to post 6% growth this year, according to Fox News Latino. ECLAC estimates that total growth will be 4.2% due to a more pessimistic global outlook and reduced public spending. South American economies expanded an average 6.6% while Mexico and Central America grew an average 4.9%.
Leading the economic growth, Paraguay’s economy expand by 9.7%, followed by Uruguay at 9%, Peru at 8.6%, Argentina at 8.4%, Brazil at 7.7% and Chile and Mexico, both at 5.3%. At the bottom of the list, Haiti dropped 7% and Venezuela fell 1.6%, says ECLAC forecasters.
If you’re looking to nab broad exposure to Latin America, check out SPDR S&P Emerging Latin America (NYSEArca: GML) or iShares S&P Latin America 40 Index (NYSEArca: ILF). Both ETFs, however, have a more than 60% weight in Brazil and 20% in Mexico, essentially making them primarily Brazil and Mexico plays.
For more information on Latin America, visit our Latin America category.
Max Chen contributed to this article.