economic growth

Central America was the region most affected by the supply and demand crisis in the Americas. However, there was a great disparity in the declines of each country. There are two groups, the first lost less than seven years of production, and the second more than ten.
The lost production years are calculated by comparing real GDP in the second quarter of 2020, when social distancing measures were implemented in the Americas, with the quarterly GDP closest to its value.
In the least affected countries, it was migrant labor and the anchoring with the U.S. economy, via the maquila, that allowed them to lose few years of production and to recover more than half of the lost years.

The stoppage of economic activities, caused by the covid1 pandemic, seriously affected Latin American economies during the first semester of 2020, 8 years of production were lost.

On average, Latin America lost eight years of production, while China lost only one, the United States six and the European Union 11. China, Europe, Argentina, Colombia, Bolivia, Ecuador, El Salvador, Honduras, Paraguay, Peru and the Dominican Republic imposed mandatory quarantine.

The economic outcome of the infection prevention policies has been strongly determined by the economic growth of the last decade. When economic dynamics are low, the fall, driven by the closure of internal and external economic activities, causes a large contraction measured in terms of years of product. If the dynamics are high, a large fall leads only to a low reduction in production.