The increase in India’s trade with Latin America is creditable given the fact that the region has had a modest GDP growth of 1.1% in 2018. The growth is projected to increase it to 1.7% in 2019, according to the December annual report of the UN Economic Commission for Latin America and Caribbean. Brazil is expected to improve its growth from 1.3% in 2018 to 2% in 2019 while Mexico’s growth rate is expected to decline slightly to 2.1% from 2.2% in 2018. Next year, Dominican Republic is expected to have the highest growth rate of 5.7%, followed by Panama 5.6% and Bolivia 4.3%. Peru’s growth in 2019 is projected at 3.6% and that of Chile 3.3 and Central America 3.3%.
Indo-Latam trade: ITC Geneva