Latin American Economy & Business - February 2014 (ISSN 1741-7430)

In a research note on Latin America’s economic outlook published on 20 February, the Spanish bank BBVA predicts that the Pacific Alliance countries will grow at more than double the rate of the Southern Common Market (Mercosur) countries this year. There has been considerable debate in recent months over the relative merits of the putatively rival trade blocs, the newly-created Pacific Alliance (comprising Mexico, Colombia, Peru and Chile) and the 23-year old Mercosur (comprising Argentina, Brazil, Paraguay, Uruguay and Venezuela). The former is seen as more outward looking and market friendly than the latter. BBVA does not make a comparative analysis of their trade policies, but it does underline that, based on an aggregation of individual performances, the Pacific Alliance will grow by an average of 3.8% this year, against Mercosur GDP expansion of only 1.5%.

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