The German economy will become more involved with Chile and Uruguay.
Martin Wansleben, the CEO of the Association of German Chambers of Commerce and Industry, told the Reuters news agency that due to the “domestic economic difficulties in Brazil and other Latin American countries,” German companies wishing to invest in Latin America are looking for other alternatives. As a result, the “stable and mature markets in Chile and Uruguay” have come back into focus.
German exports to Uruguay rose by more than 8 percent in 2015, while exports to Chile increased by as much as 13.2 percent. The greatest demand is for machinery. The two countries, with relatively high incomes and developed market economies, also offer attractive markets for the automotive and chemical industries.