DOCSLIB.ORG

Economic Survey of Latin America and the Caribbean 2018

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Economic Survey of Latin America and the Caribbean 2018 2018 Economic Survey of Latin America and the Caribbean Evolution of investment in Latin America and the Caribbean: stylized facts, determinants and policy challenges Thank you for your interest in this ECLAC publication ECLAC Publications Please register if you would like to receive information on our editorial products and activities. When you register, you may specify your particular areas of interest and you will gain access to our products in other formats. www.cepal.org/en/suscripciones 2 Executive summary Economic Commission for Latin America and the Caribbean (ECLAC) Alicia Bárcena Executive Secretary Mario Cimoli Deputy Executive Secretary Raúl García-Buchaca Deputy Executive Secretary for Management and Programme Analysis Daniel Titelman Chief, Economic Development Division Ricardo Pérez Chief, Publications and Web Services Division The Economic Survey of Latin America and the Caribbean is issued annually by the Economic Development Division of the Economic Commission for Latin America and the Caribbean (ECLAC). The 2018 edition was prepared under the leadership of Daniel Titelman, Chief of the Division, and coordinated by Jürgen Weller. In the preparation of this edition, the Economic Development Division was assisted by the Statistics Division, the Division of International Trade and Integration, the ECLAC subregional headquarters in Mexico City and Port of Spain, and the Commission’s country offices in Bogotá, Brasilia, Buenos Aires, Montevideo and Washington, D.C. Part I, entitled, “The economic situation and outlook for 2018”, was prepared with input from the following experts: Alejandra Acevedo, Claudio Aravena, Claudia de Camino, Pablo Carvallo, Ivonne González, Michael Hanni, Juan Pablo Jiménez, Esteban Pérez Caldentey, Ramón Pineda, José Antonio Sánchez, Cecilia Vera and Jürgen Weller. Part II, entitled, “Evolution of investment in Latin America and the Caribbean: stylized facts, determinants and policy challenges”, was coordinated by Esteban Pérez Caldentey and Daniel Titelman and prepared with the collaboration of Claudio Aravena, Cristóbal Budnevich, Luis Díaz, Ivonne González and Luis Méndez. It included inputs prepared by the consultants Hildegart Ahumada, Daniel Aromí, Carolina Durana, Juan Carlos Moreno Brid, Camila Pérez and Leonardo Villar. Nicole Favreau Negront, Salvador Figuereo, Goon Jang, Isabel Salat and Joaquin Sánchez provided research assistance. The country notes were prepared by the following experts: Olga Lucía Acosta, Maharouf Adedayo, Dillon Alleyne, Anahí Amar, Martín Brun, Claudia de Camino, Martín Cherkasky, Marcos Chiliatto, Tomás Concha, Cameron Daneshvar, Randolph Gilbert, Sonia Gontero, Enrique González, Michael Hendrickson, Álvaro Lalanne, Jesús López, Ricardo Mayer, Sheldon McLean, Rodolfo Minzer, Carlos Mussi, Ramón Padilla, Machel Pantin, Esteban Pérez Caldentey, Ramón Pineda, Juan Carlos Ramírez, Juan Carlos Rivas, Indira Romero, José Antonio Sánchez, Jesús Santamaría, Nyasha Skerrette, Hidenobu Tokuda, Juan Guillermo Valderrama and Francisco Villarreal. Michael Hanni and Albert Klein reviewed the country notes for the Caribbean. Georgina Cipoletta assisted in the revision of the country notes for Latin America. Sonia Albornoz prepared the statistical annex. United Nations publication ISBN: 978-92-1-121997-5 (print) ISBN: 978-92-1-058635-1 (pdf) ISBN: 978-92-1-358090-5 (ePub) Sales No.: E.18.II.G.4 LC/PUB.2018/17-P Explanatory notes Distribución: G - Three dots (...) indicate that data are not available or are not separately reported. Copyright © United Nations, 2018 - A dash (-) indicates that the amount is nil or negligible. All rights reserved - A full stop (.) is used to indicate decimals. - The word “dollars” refers to United States dollars, unless otherwise specified. Printed at United Nations, Santiago - A slash (/) between years (e.g. 2013/2014) indicates a 12-month period falling between the two years. S.18-00836 - Individual figures and percentages in tables may not always add up to the corresponding total because of rounding. This publication should be cited as: Economic Commission for Latin America and the Caribbean (ECLAC), Economic Survey of Latin America and the Caribbean, 2018 (LC/PUB.2018/17-P), Santiago, 2018. Applications for authorization to reproduce this work in whole or in part should be sent to the Economic Commission for Latin America and the Caribbean (ECLAC), Publications and Web Services Division, [email protected]. Member States and their governmental institutions may reproduce this work without prior authorization, but are requested to mention the source and to inform ECLAC of such reproduction. CONTENTS Presentation.............................................................................................................................................................. 13 Executive summary.................................................................................................................................................. 15 Part I The economic situation and outlook for 2018 ..................................................................................................... 23 Chapter I Regional overview ................................................................................................................................................... 25 A. The international context ................................................................................................................................ 27 1. The world economy has maintained its dynamism in 2018, driven by the United States and emerging economies ......................................................................................................................... 27 2. The volume of world trade grew more quickly in 2017 but has begun to show signs of moderating and is subject to downside risks ...................................................................................... 29 3. Commodity prices will rise again in 2018 ............................................................................................... 32 4. The financial markets began the year with a rise in volatility, a drop in flows to emerging markets, currency depreciations against the dollar and a substantial fall in share prices.................................................................................................................................... 34 5. The Federal Reserve is expected to raise the policy interest rate twice more in the second half of the year and three times more in 2019 ........................................................................................ 36 6. Summary .................................................................................................................................................. 37 B. The evolution of global liquidity ..................................................................................................................... 38 1. In 2017, global liquidity growth picked up thanks to a strong international bond market and an upturn in cross-border lending ..................................................................................................... 38 2. Liquidity inflows into emerging economies recorded one of the strongest increases since the start of the 2000s ..................................................................................................................... 39 3. Global liquidity trends have contributed to higher borrowing across all institutional sectors ............... 41 4. Stronger momentum in global liquidity in 2017 driven by expectations of more robust returns ........... 41 5. Global liquidity is expected to decrease in 2018, especially in emerging economies ........................... 43 C. The external sector ......................................................................................................................................... 44 1. The balance-of-payments current account deficit is expected to widen in 2018 owing to a larger services account deficit, stronger repatriation of foreign investment income and higher interest payments for external debt ...................................................................................... 44 2. Another goods surplus is expected in 2018, although it is projected to be smaller than in 2017 owing to stronger growth in imports than in exports ........................................................ 45 3. The income deficit is expected to grow in 2018 ..................................................................................... 51 4. In 2018 the services deficit is expected to increase, while the current transfers surplus is projected to widen thanks to robust remittance inflows into the region ............................................ 51 5. In line with the trend seen in all emerging markets, financial inflows into the region declined in the first four months of 2018 and improved thereafter ........................................................ 52 6. The downtrend in the region’s sovereign risk since 2016 was reversed as of February 2018 .............. 55 7. Debt issues by the countries of the region in international markets declined by 7% in the first half of the year compared with the year-earlier period ........................................................ 56 D. Domestic performance .................................................................................................................................... 57 1. Latin America and the Caribbean continue a slow pace of growth
Load more

Recommended publications
  • Kinematic Reconstruction of the Caribbean Region Since the Early Jurassic
    Earth-Science Reviews 138 (2014) 102–136 Contents lists available at ScienceDirect Earth-Science Reviews journal homepage: www.elsevier.com/locate/earscirev Kinematic reconstruction of the Caribbean region since the Early Jurassic Lydian M. Boschman a,⁎, Douwe J.J. van Hinsbergen a, Trond H. Torsvik b,c,d, Wim Spakman a,b, James L. Pindell e,f a Department of Earth Sciences, Utrecht University, Budapestlaan 4, 3584 CD Utrecht, The Netherlands b Center for Earth Evolution and Dynamics (CEED), University of Oslo, Sem Sælands vei 24, NO-0316 Oslo, Norway c Center for Geodynamics, Geological Survey of Norway (NGU), Leiv Eirikssons vei 39, 7491 Trondheim, Norway d School of Geosciences, University of the Witwatersrand, WITS 2050 Johannesburg, South Africa e Tectonic Analysis Ltd., Chestnut House, Duncton, West Sussex, GU28 OLH, England, UK f School of Earth and Ocean Sciences, Cardiff University, Park Place, Cardiff CF10 3YE, UK article info abstract Article history: The Caribbean oceanic crust was formed west of the North and South American continents, probably from Late Received 4 December 2013 Jurassic through Early Cretaceous time. Its subsequent evolution has resulted from a complex tectonic history Accepted 9 August 2014 governed by the interplay of the North American, South American and (Paleo-)Pacific plates. During its entire Available online 23 August 2014 tectonic evolution, the Caribbean plate was largely surrounded by subduction and transform boundaries, and the oceanic crust has been overlain by the Caribbean Large Igneous Province (CLIP) since ~90 Ma. The consequent Keywords: absence of passive margins and measurable marine magnetic anomalies hampers a quantitative integration into GPlates Apparent Polar Wander Path the global circuit of plate motions.
    [Show full text]
  • Adam Joseph Shellhorse Dissertation-UC Berkeley
    The Limits of the Letter: The Politics of Representation and Margins in Latin American Vanguard Writings of the 1950s and 60s by Adam Joseph Shellhorse A dissertation submitted in partial satisfaction of the requirements for the degree of Doctor of Philosophy in Hispanic Languages and Literatures in the Graduate Division of the University of California, Berkeley Committee in charge: Professor Ana Maria Mão-de-Ferro Martinho, Chair Professor Richard Rosa Professor Ivonne del Valle Professor Laura E. Pérez Fall 2010 The Limits of the Letter: The Politics of Representation and Margins in Latin American Vanguard Writings of the 1950s and 60s Copyright 2010 by Adam Joseph Shellhorse Abstract The Limits of the Letter: The Politics of Representation and Margins in Latin American Vanguard Writings of the 1950s and 60s by Adam Joseph Shellhorse Doctor of Philosophy in Hispanic Languages and Literatures University of California, Berkeley Professor Ana Maria Mão-de-Ferro Martinho, Chair Throughout this study, I theorize and explore the consequences of the self-reflexive text in the literary writings of João Cabral de Melo Neto, Osman Lins, and David Viñas. I argue that what unites these writers is not solely the context of neocolonialism and underdevelopment in the 1950s and 60s in Brazil and Argentina but the properly vanguard problem and gesture of mediating the present and politics, as I trace in their theoretical writings, letters and literary texts their shared concern with making literature relevant, functional and dynamic in a public sphere
    [Show full text]
  • Present Day Plate Boundary Deformation in the Caribbean and Crustal Deformation on Southern Haiti Steeve Symithe Purdue University
    Purdue University Purdue e-Pubs Open Access Dissertations Theses and Dissertations 4-2016 Present day plate boundary deformation in the Caribbean and crustal deformation on southern Haiti Steeve Symithe Purdue University Follow this and additional works at: https://docs.lib.purdue.edu/open_access_dissertations Part of the Caribbean Languages and Societies Commons, Geology Commons, and the Geophysics and Seismology Commons Recommended Citation Symithe, Steeve, "Present day plate boundary deformation in the Caribbean and crustal deformation on southern Haiti" (2016). Open Access Dissertations. 715. https://docs.lib.purdue.edu/open_access_dissertations/715 This document has been made available through Purdue e-Pubs, a service of the Purdue University Libraries. Please contact [email protected] for additional information. Graduate School Form 30 Updated ¡ ¢¡£ ¢¡¤ ¥ PURDUE UNIVERSITY GRADUATE SCHOOL Thesis/Dissertation Acceptance This is to certify that the thesis/dissertation prepared By Steeve Symithe Entitled Present Day Plate Boundary Deformation in The Caribbean and Crustal Deformation On Southern Haiti. For the degree of Doctor of Philosophy Is approved by the final examining committee: Christopher L. Andronicos Chair Andrew M. Freed Julie L. Elliott Ayhan Irfanoglu To the best of my knowledge and as understood by the student in the Thesis/Dissertation Agreement, Publication Delay, and Certification Disclaimer (Graduate School Form 32), this thesis/dissertation adheres to the provisions of Purdue University’s “Policy of Integrity in Research” and the use of copyright material. Andrew M. Freed Approved by Major Professor(s): Indrajeet Chaubey 04/21/2016 Approved by: Head of the Departmental Graduate Program Date PRESENT DAY PLATE BOUNDARY DEFORMATION IN THE CARIBBEAN AND CRUSTAL DEFORMATION ON SOUTHERN HAITI A Dissertation Submitted to the Faculty of Purdue University by Steeve J.
    [Show full text]
  • Strategies for Increasing Economic Resilience in the Caribbean
    STRATEGIES FOR INCREASING ECONOMIC RESILIENCE IN THE CARIBBEAN ISSUE 3 / JULY - SEPTEMBER 2019 ABOUT ECLAC/CDCC The Economic Commission for Latin America and the Caribbean (ECLAC) is one of five regional commissions of the United Nations Economic and Director’s Desk: Social Council (ECOSOC). It was established in 1948 to support Latin Strategies for increasing economic resilience in 3 American governments in the economic and social development of that region. Subsequently, in 1966, the Commission (ECLA, at that time) the Caribbean established the subregional headquarters for the Caribbean in Port of Spain to serve all countries of the insular Caribbean, as well as Belize, Strategies to avoid debt traps among developing 4 Guyana and Suriname, making it the largest United Nations body in the countries as they pursue the SDGs subregion. Promoting a competitive tourism industry in the 6 At its sixteenth session in 1975, the Commission agreed to create the Caribbean through upgrading and diversification Caribbean Development and Cooperation Committee (CDCC) as a permanent subsidiary body, which would function within the ECLA Financing Agro-processing in the Caribbean 8 structure to promote development cooperation among Caribbean countries. Secretariat services to the CDCC would be provided by the subregional headquarters for the Caribbean. Nine years later, the Building a Case for Trade Driven Economic 10 Commission’s widened role was officially acknowledged when the Economic Commission for Latin America (ECLA) modified its title to the Restructuring in the Caribbean: An Examination Economic Commission for Latin America and the Caribbean (ECLAC). of the Trinidad and Tobago Trade Policy CONTENTS Key Areas of Activity The ECLAC subregional headquarters for the Caribbean (ECLAC/CDCC Regular Features secretariat) functions as a subregional think-tank and facilitates increased contact and cooperation among its membership.
    [Show full text]
  • Physical Geography the Equator Means That Most of the Region of Caribbean South America Includes Has Warm Temperatures Year-Round
    DO NOT EDIT--Changes must be made through “File info” CorrectionKey=TX-A SECTION 1 Physical TEKS 3A, 3B, 3C, 4D, 4E, 4F, 5A, Geography 5B, 5C, 6A, 6B, 21B, 21C, 22D What You Will Learn… If YOU lived there... Main Ideas You live in Caracas, Venezuela, but this is your first visit to the great 1. Caribbean South America Orinoco River. You’ve heard about the fierce creatures that live in has a wide variety of physical the river, so you think your guide is kidding when he says he’s going features and wildlife. 2. The region’s location and to catch a piranha. You’re expecting a monster and are surprised elevation both affect its when he pulls up a small orange fish. It has many sharp teeth, but climate and vegetation. 3. Caribbean South America is it’s only seven inches long! rich in resources, such as farmland, oil, timber, and What other animals might you see in the region? rivers for hydroelectric power. The Big Idea BUILDING BACKGROUND The narrow Isthmus of Panama joins Caribbean South America is the continent of South America at its northwestern corner, the a region with diverse physical country of Colombia. Like the countries of Central America, the five features, wildlife, climates, and resources. countries in Caribbean South America border the Caribbean Sea. They all vary in landscape, climate, and culture and have large rivers Key Terms and Places and rugged mountains. Andes, p. 236 cordillera, p. 236 Guiana Highlands, p. 237 Physical Features and Wildlife Llanos, p. 237 If you were traveling through the region of Caribbean South Orinoco River, p.
    [Show full text]
  • Latin America 2019
    The Mobile Economy Latin America 2019 Copyright © 2019 GSM Association The GSMA represents the interests of mobile operators GSMA Intelligence is the definitive source of global mobile worldwide, uniting more than 750 operators with almost operator data, analysis and forecasts, and publisher of 400 companies in the broader mobile ecosystem, including authoritative industry reports and research. Our data handset and device makers, software companies, equipment covers every operator group, network and MVNO in every providers and internet companies, as well as organisations country worldwide – from Afghanistan to Zimbabwe. It is in adjacent industry sectors. The GSMA also produces the the most accurate and complete set of industry metrics industry-leading MWC events held annually in Barcelona, available, comprising tens of millions of individual data Los Angeles and Shanghai, as well as the Mobile 360 Series points, updated daily. GSMA Intelligence is relied on by of regional conferences. leading operators, vendors, regulators, financial institutions and third-party industry players, to support strategic For more information, please visit the GSMA corporate decision-making and long-term investment planning. The website at www.gsma.com data is used as an industry reference point and is frequently cited by the media and by the industry itself. Our team Follow the GSMA on Twitter: @GSMA of analysts and experts produce regular thought-leading research reports across a range of industry topics. www.gsmaintelligence.com [email protected]
    [Show full text]
  • Kinematic Evolution of the Gulf of Mexico and Caribbean
    Kinematic Evolution of the Gulf of Mexico and Caribbean James Pindell Tectonic Analysis, Ltd., Cokes, Barn, West Burton, West Sussex RH20 1HD, England Also: Dept. Earth Science, Rice University, Houston, Texas, USA Email: [email protected] Lorcan Kennan Tectonic Analysis, Ltd., Cokes, Barn, West Burton, West Sussex RH20 1HD, England Abstract We present a series of 14 updated tectonic reconstructions for the Gulf of Mexico and Caribbean region since the Jurassic, giving due attention to plate kinematic and palinspastic accuracy. Primary elements of the model are: 1) a re-evaluation of the Mesozoic break-up of Pangea, to better define the Proto-Caribbean passive margin elements, the geology and kinematics of the Mexican and Colombian intra-arc basins, and the nature of the early Great Caribbean Arc; 2) pre-Albian circum-Caribbean rock assemblages are reconstructed into a primitive, west-facing, Mexico-Antilles-Ecuador arc (initial roots of Great Caribbean Arc) during the early separation of North and South America; 3) the subduction zone responsible for Caribbean Cretaceous HP/LT metamorphic assemblages was initiated during an Aptian subduction polarity reversal of the early Great Arc; the reversal was triggered by a strong westward acceleration of the Americas relative to the mantle which threw the original arc into compression; 4) the same acceleration led to the Aptian-Albian onset of back-arc closure and “Sevier” orogenesis in Mexico, the western USA, and the northern Andes, making this a nearly hemispheric event which must have
    [Show full text]
  • Understanding Economic Crises in Latin America
    University of New Hampshire University of New Hampshire Scholars' Repository Honors Theses and Capstones Student Scholarship Spring 2020 Causes of Chaos: Understanding Economic Crises in Latin America Kevin Murphy University of New Hampshire, Durham Follow this and additional works at: https://scholars.unh.edu/honors Part of the Business Commons Recommended Citation Murphy, Kevin, "Causes of Chaos: Understanding Economic Crises in Latin America" (2020). Honors Theses and Capstones. 512. https://scholars.unh.edu/honors/512 This Senior Honors Thesis is brought to you for free and open access by the Student Scholarship at University of New Hampshire Scholars' Repository. It has been accepted for inclusion in Honors Theses and Capstones by an authorized administrator of University of New Hampshire Scholars' Repository. For more information, please contact [email protected]. Causes of Chaos 1 Causes of Chaos: Understanding Economic Crises in Latin America Kevin Murphy Prof. Ahmad Etebari Causes of Chaos 2 Abstract I. This paper is an attempt at identifying the causes and commonalities of financial crises in Latin America over the past fifty years. This identification is carried out through an extensive review and analysis of the literature on causes of twelve major financial crises spanning over six major nations in Latin America. In addition, we conduct a Logit Binary Regression on commodity, interest rate and currency indexes to determine how closely related shifts in prices of the underlying asset are to times of financial crises. Through the literature review, we find the following major commonalities among the Latin American financial crises: over-dependence on commodities, poor macro and currency policies and overall political instability.
    [Show full text]
  • Cariforum Ecotourism Industry Value Chain Analysis Private Sector Promotion Through Value Chain and Cluster Strengthening in Cariforum
    CARIFORUM ECOTOURISM INDUSTRY VALUE CHAIN ANALYSIS PRIVATE SECTOR PROMOTION THROUGH VALUE CHAIN AND CLUSTER STRENGTHENING IN CARIFORUM Shellyanne Wilson JUNE 15, 2014 1 | P a g e PRIVATE SECTOR PROMOTION THROUGH VALUE CHAIN AND CLUSTER STRENTHENING IN CARIFORUM (RG-CC1053) FINAL REPORT 15 JUNE 2014 © 2014 Inter-American Development Bank. All rights reserved. Whilst efforts have been taken to verify the accuracy of this information, neither the Inter-American Development Bank nor any sponsor or provider of financing of this information (nor their affiliates) can accept any responsibility or liability for reliance by any person on this information, opinions or conclusions set out herein. The ideas and opinions expressed in this publication belong to the authors and do not necessarily reflect the official opinion of the Inter-American Development Bank, or of any of its employees, agents, member countries and executive directors. This report was authored by Dr. Shellyanne Wilson with funding from the Compete Caribbean Program, a regional private sector development, technical assistance initiative financed by the IDB, the United Kingdom Department for International Development (DFID) and Foreign Affairs, and Trade and Development Canada (DFATD), and executed in partnership with the Caribbean Development Bank (CDB) (for more information and access to the full document visit Compete Caribbean www.competecaribbean.org). 2 | P a g e Table of Contents Tables and Figures ................................................................................................
    [Show full text]
  • A Simple Synthesis of Caribbean Geology
    Transactions of the 16th Caribbean Geological Conference, Barbados. Caribbean Journal of Earth Science, 39 (2005), 69-82. © Geological Society of Jamaica. A simple synthesis of Caribbean geology KEITH H. JAMES Consultant Geologist, Plaza de la Cebada, 3, 09346 Covarrubias (Burgos), Spain, and Honorary Departmental Fellow, Institute of Geography and Earth Sciences, Aberystwyth, Wales, UK. E-mail: [email protected] ABSTRACT. The complex area between the continental masses of North and South America is a collage of many continental, stretched continental, island arc and oceanic elements described by numerous works. Some areas are poorly exposed and not well known. Others are intensely explored and well documented. Syntheses of this geology popularly derive the Caribbean Plate from the Pacific and require major rotation of island arc elements and continental blocks along with major changes in plate migration direction. These models are complex and geometrically unlikely. This paper suggests a simple, in situ evolution from a Pangean configuration principally via regional (North - South America), Jurassic-Late Cretaceous, WNW oriented sinistral transtension, followed by a Palaeocene–Middle Eocene compressional event and Oligocene-Recent, E-W strike-slip between the Caribbean and American Plates. 1. INTRODUCTION southern Guatemala, Honduras, Nicaragua and El Salvador. Extended continental crust forms the The Middle America area of this paper lies northern part of the Gulf of Mexico, the eastern between the continental masses of North and margin of Mexico, the eastern and western South America (Fig. 1). The present-day margins of the Florida Platform, the eastern Caribbean Plate interacts with Atlantic plates to Bahamas Platform and the Nicaragua the north, south and east and with the Nazca and Rise/Jamaica and the Guyana Platform.
    [Show full text]
  • The Mexican Economy After the Global Financial Crisis
    The Mexican Economy After the Global Financial Crisis M. Angeles Villarreal Specialist in International Trade and Finance September 16, 2010 Congressional Research Service 7-5700 www.crs.gov R41402 CRS Report for Congress Prepared for Members and Committees of Congress The Mexican Economy After the Global Financial Crisis Summary The state of Mexico’s economy is important for U.S. policymakers for many reasons, most significantly because a prosperous and democratic neighboring country is in the best interest of the United States. The two countries have strong economic, political, and social ties, which have direct policy implications related to bilateral trade, economic competitiveness, migration, and border security. In May 2010, President Barack Obama hosted Mexican President Felipe Calderón at a meeting in the White House in which the two leaders discussed key issues affecting the two countries. They agreed to continue and reinforce cooperation on creating jobs, promoting economic recovery and expansion, and encouraging inclusive prosperity across all levels of society in both countries. The 111th Congress is likely to maintain an active interest in Mexico on issues related to the North American Free Trade Agreement (NAFTA) and other trade issues, economic conditions in Mexico, migration, border security issues, and counter-narcotics. The global financial crisis that began in 2008 and the U.S. economic downturn had strong adverse effects on the Mexican economy, largely due to its economic ties and dependence on the U.S. market. Mexico’s gross domestic product (GDP) contracted by 6.6% in 2009, the sharpest decline of any Latin American economy. Mexico’s reliance on the United States as an export market and the relative importance of exports to its overall economic performance make it highly susceptible to fluctuations in the U.S.
    [Show full text]
  • Caribbean Tectonic
    U.S. DEPARTMENT OF THE INTERIOR Map not approved for release by Director USGS U.S. GEOLOGICAL SURVEY 14 January 2010 t n S i e g s b m Seismicity of thee e E s c aEr p arth 1900 - 2007 N a r e s P l a i n Caribbean Plate and Vicinity Eleuthera A T L A N T I C O C E A N a d New Providence I. ys i e A E K r n G u l f o f M e x i c o ida o d x Compiled by Arthur C. Tarr, Susan Rhea, Gavin Hayes, Antonio Villaseñor, Kevin P. FuKeyr Wlesot ng, anor d Harley Benz r u Fl l o m Cat Island TECTONIC SUMMARY G s F I a r s f l o e a T s a n r i t d o 95° 90° 85° r a 80° t 75° San Salvador 70° 65° 60° S t u S i g s b e e D e e p B g a h Extensive diversity of tectonic regimes characterizes the perimeter of the Caribbean plate, involving no fewer h B A H A M A S a B m Great a than four major adjacent plates (North America, South America, Nazca, and Cocos.) Inclined zones of deep a h -300 -200 -100 0 M e x i c o B a s i n B Exuma a a Long I. m earthquakes (Wadati-Benioff zones), deep ocean trenches, and arcs of volcanoes clearly indicate subduction of Havana n a k I s oceanic lithosphere along the Central American and Atlantic Ocean margins of the Caribbean plate, while Crooked I.
    [Show full text]