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Atradius’ country overviews provide short, concise information on large Western economies´ economic performance and insolvency development and on main emerging markets´ current political and economical situation and outlook.

General situation and outlook

Growth is expected to slow down to 3.5% after more than 8% in 2010 and 2011, as exports slow down and commodity prices are no longer rising. Inflation remains above 20%.

Massive state intervention continues: Import restrictions and exchange controls lead to more payment delays for foreign exporters,

Capital flight has sharply increased in 2011, significantly deteriorating Argentina’s liquidity position. External accounts continue to weaken and relations with international financial markets remain shaky. A final debt settlement with Paris Club is necessary.

The government should also decrease public spending and lift foreign exchange restrictions. However, more arbitrary actions by the government cannot be ruled out as economic tensions mount.

General Information

• Brazil - 31.3%  
• China - 13.6%
• Chile - 10.7%
• Germany - 5.7%
• Mexico - 3.2%

• Brazil - 21.3%
• China - 8.6%
• Chile - 6.5%
• USA - 5.2%
• The Netherlands - 3.5%

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