REGION REPORT | LATIN AMERICA


SOUTH OF THE BORDER


Latin America is large and diverse. As Julian Champkin discovers, its market for lifting gear is recovering from the pandemic.


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“Each has its own regulations, economies and rules; and although it is a convenient term, in reality Latin America cannot be defined as just one big common region.” Thus, Mexico’s international trade,


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he says, is dominated mostly by manufacturing. “It participated in the recently signed USMCA (US-Mexico- Canada agreement) and sends its manufactured goods to the US and Canada. Chile on the other hand is more of a mining-based economy. The upper Central American triangle is agricultural rather than industrial, and the “northern” South American countries such as Ecuador, Peru and Colombia are a mix of both mining and industrial economies. Panama relies heavily on the Panama Canal and Free Trade transport while Costa Rica relies heavily in tourism, some mining and very light manufacturing.” Pere Garcia, director general of GH


Cranes Mexico, also finds the Mexican market differs significantly from the others. “Since the change of Government in 2019 in Mexico, the economy of the country has gone down. Government investment in industry has decreased and large public projects were stopped. Foreign investment has decreased or simply disappeared. 2020 seemed to get off to a better start, but in March came Covid-19. “The rest of the year was very difficult.


Our sales were affected. Important sectors like construction and energy were really


P Harrington Hoists has a large presence in Latin America


www.hoistmagazine.com | April 2021 | 29


ach country in Central and South America is different,” says Juan Jose Padilla, international sales manager for Harrington Hoists.


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