2.7 LATIN AMERICA
2021-06-06
According to International Monetary Fund (IMF) estimates, the GDP of Central and South America decreased by 8.1% in 2020. International trade has decreased, international prices in the resource market have fallen, global financial instability and risks have intensified, and the spread of the pandemic has caused a downturn in tourism demand, which in turn has caused the air conditioner market to drop significantly.
