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2.10 LATIN AMERICA: Brazil
2018/01/22
According to the IMF, Brazil’s GDP growth rate ended at -3.6% in 2016, continuing the negative growth posted the previous year. In 2017, the country finally posted positive growth of 0.7%.
 
However, consumers are holding off on spending and companies on investing amid the political turmoil and economic uncertainty. Owing to the recession in the country, many foreign manufacturers including Japanese players have faced operational difficulties, and some have even shut down factories or closed their businesses.
 
Within Latin America, Brazil is the largest importer of air conditioners from China. According to China Customs, nearly 1.3 million air conditioners were exported from China to Brazil from January to October 2017, which represents a 22.0% increase compared with the same period of 2016.
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