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This is the economic impact that the corona virus will have in Latin America

June 17, 2020

The growth prospects of Peru, Brazil and Mexico are most affected by this global crisis.

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This is the economic impact that the corona virus will have in Latin AmericaThis is the economic impact that the corona virus will have in Latin America

This story originally appeared in the World Economic Forum

By Statistas Marina Pasquali in Spanish

On June 8, the World Bank published a new edition of its report “Global Economic Outlook for 2020”. It published the latest economic forecasts that measure the expected impact of the coronavirus pandemic in the coming months. According to these forecasts, the global economy will shrink by 5.2% this year, which would mean going through the deepest recession since World War II. In Latin America and the Caribbean, regional gross domestic product (GDP) is expected to be 7.2% above the global average, albeit with nuances between different economies.

Of the countries included in this Statista chart, the growth prospects of Peru, Brazil and Mexico are most affected by this global crisis. According to forecasts made on June 8, Peru and Brazil are the economies that will shrink most this year, with GDP falling 12% and 8% respectively. These three countries also reflect the highest adjustment in terms of January 2020 forecasts. At this point, the economic outlook tended to grow. In the case of Brazil, the expected GDP increase in June decreased by ten percentage points compared to January, while that in Mexico was adjusted by almost nine points.

The total number of confirmed cases of COVID-19 across Latin America and the Caribbean is almost 1.5 million. While the pandemic is expected to be the country with the highest number of deaths and deaths, as well as those heavily dependent on tourism and international trade, we face a crisis that affects more countries internationally than any other economic recession since 1870, according to the World Bank.

Note: At Statista we regularly update many of our COVID-19 diagrams. If the text data does not match the image data, we recommend clearing the browser cache so that the image is updated to the latest version.