RAC/PAC
2.10.4 Mexico
The Mexican economy grew 3.9% in 2012, with both capital investment and construction demand showing recovery. Many automakers have started local production in Mexico, and automobiles and auto parts account for 23.8% of total exports by value. This represents Mexico’s largest export sector, and more automakers and parts manufacturers are moving operations into the country. After the N...
2.10.3 Argentina
Argentina’s real GDP had marked two consecutive years of high growth around 9%, but real GDP growth fell to 1.9% in 2012. Construction investment by value declined a sharp 35.5%. Argentina’s chiller market scale came to US$ 11.1 million in 2012, a decline of 18.8% over the previous year. Centrifugal chiller market scale marked a year-on-year increase of 18.7% to US$ 3.8 million, but the mar...
2.10.2 Chile
Chile’s real GDP in 2012 marked strong 5.6% growth. Reconstruction demand from the large earthquake that struck Chile in February 2010 is still brisk, with the construction and capital investment sectors marking growth. Construction of both residential and commercial properties such as new hotel projects, especially in the capital of Santiago, is a frequent site. Commercial projects for off...
2.10.1 Brazil
Brazil’s real GDP growth in 2012 stalled at 0.9%. Construction investment recorded a slight increase of 1.9%. Nevertheless, the upcoming 2014 FIFA World Cup and 2016 Olympic Games in Brazil are...
2.9.6 Iraq
Under a five-year plan from 2010 to 2015, Iraq has been investing in medicine, education, construction, petrochemicals, cement, and other industries that are not oil-related. The Iraqi government has also set targets for new construction, including building more than 2 million homes, more than 3,000 schools, and more than 1,000 medical facilities to create infrastructure demand as part of the plan...
2.9.5 Kuwait
Kuwait’s real GDP growth in 2012 was 5.1%. Kuwait boasts the fourthlargest oil reserves in the world, and its economy has achieved rapid development through oil exports. The country has been working t...
2.9.4 Qatar
Qatar’s market size for chillers was US$ 38.1 million in 2012, a substantial decrease of 19.2% compared with US$ 47.1 million in 2011. Its centrifugal chiller segment saw a big decrease of 30.0% from ...
2.9.3 Iran
Iran’s real GDP growth in 2012 was a negative 1.9%, a sharp contraction from positive 3.0% growth the year before. International economic sanctions against Iran have caused its currency, the rial, to fall, sparked high inflation, and led to deteriorating trade conditions from delays and defaults in payments. Industrial activity across every industrial category is decreasing. The total value of imp...
2.9.2 UAE
The UAE’s real GDP growth in 2012 reached 4.4%, a 0.5% higher than the previous year, due to strong economic activity in both oil and non-oil-related industries. The UAE is continuing to strengthen its infrastructure to serve as a hub for the Middle East and North Africa, and inward direct investment is showing gradual recovery. The total size of the UAE’s chiller market was US$ 176.4 milli...
2.9.1 Saudi Arabia
Saudi Arabia’s real GDP in 2012 came to 6.8%. Growth was noticeably strong in the construction industry, which marked double-digit growth of more than 16%. Saudi Arabia represents one of the mo...
