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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
The motor vehicle industry in Latin America continues to recover from the negative effects of the pandemic, but the recovery in 2021 and 2022 (both in output and domestic sales) was insufficient to reach the pre-pandemic volumes reported in 2019 ...
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The transport sector plays a significant role in the Mexican economy, accounting for about 7.1% of the country's GDP in 2022, with the industry providing vital support for domestic economic activity. From 2017 to 2022, the transport sector's GVA ...
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Brazil is the largest pharmaceutical market in Latin America, with retail drug sales of USD 33.1bn in 2022. Brazil's pharmaceutical and healthcare sector faced several challenges during the COVID-19 pandemic, including shortages of drugs and active ...
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According to the July 2023 Electricity Market Report by the International Energy Agency (IEA), electric power consumption increased by 2.3% y/y across the world during 2022, slightly below the annual average of 2.4% observed during the pre-pandemic ...
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The COVID-19 pandemic boosted the adoption of digital financial services, a shift that was particularly remarkable in Latin America. According to the Global Findex Database published by the World Bank, in 2017, Latin America lagged behind the global ...
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Latin America is one of the brightest spots for the global renewable power industry, thanks to its massive natural potential. The region had the fourth largest renewable power generation installed capacity in the world as of the end of 2022, ...
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Often labelled as the breadbasket of the world, Latin America is a leading player in the global agribusiness industry. From cereals to poultry meat, and from fishing to fruits, Latin America hosts important producers in the entire agriculture value ...
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