Macroeconomic and Automotive Prospects of Select Latin American and Caribbean Countries, Forecast to 2023

Macroeconomic and Automotive Prospects of Select Latin American and Caribbean Countries, Forecast to 2023

GDP Growth and Light Vehicle Sales to See a Marginal Uptick Across Most Countries Over the Forecast Period

RELEASE DATE
18-Jun-2019
REGION
Latin America
Research Code: 9AE6-00-06-00-00
SKU: CI00620-SA-DE_23177

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Description

This research tracks the economies of Costa Rica, the Dominican Republic, Guatemala, Jamaica, Panama, and Puerto Rico. The research provides insights into the macroeconomic and automotive outlook for these select Latin American and Caribbean economies, with forecasts until 2023. Topic areas analyzed include the gross domestic product (GDP) growth, the labor market, and the light vehicles sales outlook for the countries in focus.
While Costa Rica, Guatemala, Jamaica, and Trinidad and Tobago are expected to see their GDP growth rate marginally rise over the forecast period, the Dominican Republic and Panama are expected to see a marginal dip in GDP growth while nonetheless maintaining strong growth rates of over 5%. Puerto Rico, however, continues to remain in recession, with growth expected to remain negative until 2024.

Emergence from recession is expected by 2025, supported in particular by widespread reform activities. Potential attainment of statehood by 2025 is expected to help bring in more funding and further accelerate medium-term growth. All the countries are expected to see unemployment rates decline in the forecast period. The declining trend in Puerto Rico, however, is not so much a positive sign, because it is largely being driven by migration, with skilled workers in particular migrating from the country in large numbers. Guatemala has the lowest unemployment rate amongst the countries in focus, with an unemployment rate of 2.3% in 2018, that is expected to dip to 2.0% by 2019, supported in particular by a pick-up in economic activity. While Guatemala’s official unemployment is low, informal unemployment rates, however, are high. Trinidad and Tobago saw its unemployment rise in 2018, with unemployment levels expected to slide going forward, since the country has emerged from recession. As a result of the light vehicles sales outlook, Costa Rica, Guatemala, and Jamaica are expected to see sluggish growth over the forecast period while the Dominic Republic, Panama, and Trinidad & Tobago will grow faster primarily due to positive economic conditions. Puerto Rico is not expected to see a spike in sales in the next 5 years.

Key Issues Addressed

  • What is the GDP growth outlook for the select Latin American and Caribbean economies? 
  • What are the key GDP growth drivers and restraints? 
  • How are unemployment rates expected to evolve over the forecast period? 
  • What is the labor force outlook for the countries in focus? 
  • What is the outlook for light vehicle sales? 
  • How will light vehicles sales be shaped by key influencing factors such as election years and government mobility policies?

Author: Neha Anna Thomas

 

Table of Contents

Costa Rica—Key Takeaways

Dominican Republic—Key Takeaways

Guatemala—Key Takeaways

Jamaica—Key Takeaways

Panama—Key Takeaways

Puerto Rico—Key Takeaways

Trinidad and Tobago—Key Takeaways

Research Scope

GDP Growth Outlook

Labor Market Outlook

Light Vehicle Sales Outlook

GDP Growth Outlook

Dominican Republic—Labor Market Outlook

Dominican Republic–Light Vehicle Sales Outlook

GDP Growth Outlook

Labor Market Outlook

Light Vehicle Sales Outlook

GDP Growth Outlook

Labor Market Outlook

Light Vehicle Sales Outlook

Panama—GDP Growth Outlook

Panama—Labor Market Outlook

Light Vehicle Sales Outlook

Puerto Rico—GDP Growth Outlook

Puerto Rico—Labor Market Outlook

Light Vehicle Sales Outlook

GDP Growth Outlook

Trinidad and Tobago—Labor Market Outlook

Light Vehicle Sales Outlook

Key Conclusions

Legal Disclaimer

List of Exhibits

List of Exhibits (continued)

The Frost & Sullivan Story

Value Proposition: Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
This research tracks the economies of Costa Rica, the Dominican Republic, Guatemala, Jamaica, Panama, and Puerto Rico. The research provides insights into the macroeconomic and automotive outlook for these select Latin American and Caribbean economies, with forecasts until 2023. Topic areas analyzed include the gross domestic product (GDP) growth, the labor market, and the light vehicles sales outlook for the countries in focus. While Costa Rica, Guatemala, Jamaica, and Trinidad and Tobago are expected to see their GDP growth rate marginally rise over the forecast period, the Dominican Republic and Panama are expected to see a marginal dip in GDP growth while nonetheless maintaining strong growth rates of over 5%. Puerto Rico, however, continues to remain in recession, with growth expected to remain negative until 2024. Emergence from recession is expected by 2025, supported in particular by widespread reform activities. Potential attainment of statehood by 2025 is expected to help bring in more funding and further accelerate medium-term growth. All the countries are expected to see unemployment rates decline in the forecast period. The declining trend in Puerto Rico, however, is not so much a positive sign, because it is largely being driven by migration, with skilled workers in particular migrating from the country in large numbers. Guatemala has the lowest unemployment rate amongst the countries in focus, with an unemployment rate of 2.3% in 2018, that is expected to dip to 2.0% by 2019, supported in particular by a pick-up in economic activity. While Guatemala’s official unemployment is low, informal unemployment rates, however, are high. Trinidad and Tobago saw its unemployment rise in 2018, with unemployment levels expected to slide going forward, since the country has emerged from recession. As a result of the light vehicles sales outlook, Costa Rica, Guatemala, and Jamaica are expected to see sluggish growth over the forecast period while the Dominic Republic, Panama, and Trinidad & Tobago will grow faster primarily due to positive economic conditions. Puerto Rico is not expected to see a spike in sales in the next 5 years.--BEGIN PROMO--

Key Issues Addressed

  • What is the GDP growth outlook for the select Latin American and Caribbean economies? 
  • What are the key GDP growth drivers and restraints? 
  • How are unemployment rates expected to evolve over the forecast period? 
  • What is the labor force outlook for the countries in focus? 
  • What is the outlook for light vehicle sales? 
  • How will light vehicles sales be shaped by key influencing factors such as election years and government mobility policies?

Author: Neha Anna Thomas

 

More Information
No Index No
Podcast No
Author Neha Anna Thomas
Industries Cross Industries
WIP Number 9AE6-00-06-00-00
Is Prebook No
GPS Codes 9800-A6,9965-A6,9AF6-A6,9A08