Caribbean Economic Growth Forecasts for 2013

Consolidated Caribbean Economic Growth for 2013 GDP Growth for the Caribbean and Caricom Economic forecasts point to positive GDP growth throughout the region for 2013. Haiti will lead the region this year, with leading institutional forecasts pointing to GDP growth ranging between 6.0% and 7.0%. The following chart highlights Caribbean economic growth forecasts for 2013, recently published by the cited institutions. GDP Growth for the Eastern Caribbean Currency Union The Eastern Caribbean Central Bank (ECCB) recently published forecasts for 2013 growth. The ECCB anticipates that growth will turn positive to +1.44% this year, before strengthing to +2.21% in 2014. Key Risks for Caribbean Economic Growth Vulnerabilities to the global economic recovery – The United States and Europe remain key source markets for Caribbean tourism and imports, as well as a destination markets for the Caribbean export products. Continued fiscal woes in these regions and weak economic activity could impact demand for consumer goods, commodities and tourism. Developments in East Asia will also gain increasing importance, as Caribbean countries continue to strengthen bonds with this region. Weather conditions – Tourism, agriculture and related downstream activities are all exposed to climate conditions in the region.  Favorable conditions can provide upside to forecasts, … Continue reading Caribbean Economic Growth Forecasts for 2013