Latin America likely to be a net exporter of polyolefins soon

The Latin American chemical industry has enjoyed both a global recovery in petrochemical markets and sustained regional economic gains. The good times have fostered an enthusiasm for regional expansion plans. Major economies with large chemical enterprises in Latin America have experienced two successive years of solid economic growth. According to IMF, Brazil, Latin America 's largest economy, posted 4.9% gross domestic product (GDP) growth in 2004, over 3% growth in 2005 as well as 2006. Mexican economy grew by 3.0% in 2005 and 3.5% in 2006. After expanding by 9.0% in 2004, Argentina 's economy grew by another 7.5% in 2005 and 4.2% in 2006. Chile saw 6.1% GDP growth in 2004 and 5.9% in 2005, and 5.8% in 2006. Venezuela 's economy grew 17.9% in 2004, 7.8% in 2005 and 4.5% increase in 2006.

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