• Mexico's economy performed better than expected in the first quarter of the year, preliminary data released by the national statistics agency INEGI showed on Wednesday, April 30, 2025. Still, analysts continue to warn of a difficult path ahead.
• Latin America's second-largest economy grew 0.2% in the first quarter from the final three months of 2024, INEGI said. That outpaced market expectations in a Reuters poll for zero growth and marked a rebound from a 0.6% fourth-quarter contraction. However, economists continued to sound a cautious note in light of the trade shock generated by U.S. President Donald Trump's tariff threats.
• "The quarter-to-quarter gain helped the Mexican economy avoid a technical recession, but it does little to alter the weak trajectory," Pantheon Macroeconomics chief Latin America economist Andres Abadia said in a note to clients. He mentioned heightened domestic uncertainty, tight financial conditions and ongoing risks from the U.S. trade war, noting that leading indicators already point to a challenging outlook.
• Compared with the same quarter a year earlier, the Mexican economy expanded 0.8% in the January-March period, the statistics agency said, also boosted by primary activities. Economists expected 0.6% year-on-year growth.
• Capital Economics emerging markets economist Kimberley Sperrfechter said the data, which suggests that Mexico headed into the second quarter with weak momentum, should reinforce the central bank's concerns about the health of the economy. "This should pave the way for another 50 basis point rate cut at Banxico's meeting next month," she said, which would represent the third such consecutive reduction, even as annual inflation ticked up in early April.

(Source: Reuters)

• The U.S. trade deficit in goods widened to a record high in March as businesses ramped up efforts to bring in merchandise ahead of President Donald Trump's sweeping tariffs, suggesting trade was a large drag on economic growth in the first quarter.

• While some of the imported goods ended up in warehouses at wholesalers, economists said this would not blunt the anticipated hit on gross domestic product from the deterioration in the trade deficit.

• The report from the Commerce Department's Census Bureau prompted economists to sharply downgrade their GDP estimates for last quarter to show a steeper decline rather than growth just stalling. Goldman Sachs now sees GDP contracting at a 0.8% annualized rate while JPMorgan forecasts output declining at a 1.75% pace.

• The goods trade gap increased 9.6% to $162.0Bn, the highest on record, the Commerce Department's Census Bureau said. Economists estimated trade could have sliced off as much as 1.9 percentage points from GDP last quarter.

• Goods imports soared by $16.3Bn to an all-time high of $342.7Bn. They were driven by a 27.5% jump in imports of consumer goods. There were also solid increases in imports of automotive vehicles and capital goods. But imports of industrial supplies, which had been boosted by non-monetary gold, declined 13.5%. Food imports fell as did those of other goods.

• Economists have cautioned that imports, which are a subtraction in the calculation of GDP, could greatly exaggerate an anticipated economic slowdown in gross domestic product growth in the January-March quarter.

• Nonetheless, the uncertainty fueled by the often chaotic tariff policy, which has plunged the United States into a damaging trade war with China, is causing tremors throughout the economy. A separate report from the Conference Board showed its consumer confidence index dropped 7.9 points to 86.0 this month, the lowest reading since May 2020.

(Source: Reuters)

• Eurozone consumers raised their inflation expectations for the coming years in March, before the U.S. imposed tariffs on most nations, launching a global trade war that could sap economic growth, a European Central Bank survey showed on Tuesday.

• Inflation over the next 12 months was seen at 2.9%, up from 2.6% in the previous month's survey. The three-years-ahead figure rose to 2.5% from 2.4%, the ECB said based on a survey of 19,000 consumers in 11 euro zone nations.

• While such a rise would normally worry the ECB, the figures predate the U.S. tariffs, which have fundamentally changed the global economic outlook.

• The euro has strengthened, energy prices have fallen and economic growth is likely to be weaker, factors that are all likely to lower price growth. In addition, China, facing reduced access to the U.S. market, could also dump cheap goods on Europe, lowering inflation further.

• The outlook has changed so much that the ECB cut interest rates again in April, warning about weak growth. Some policymakers even see a risk that the ECB will again undershoot its 2% inflation target. The changes are also unlikely to be temporary, and the world is facing a profound shift in how nations interact economically, financially and diplomatically, the ECB has argued.

(Source: Reuters)

• Increased export earnings from hot pepper are among the projected outcomes from the soon-to-be concluded ‘Improving Phytosanitary, Food Safety and Market Access Opportunities along the Hot Pepper Value Chain in Jamaica’ project. The project aims to support increased compliance with sanitary and phytosanitary standards for the production and export of Jamaica’s hot pepper to the European Union (EU), United Kingdom (UK), Canada and Regional markets.
• The project, which commenced in May 2022, is scheduled to be completed on July 31, 2025, and is being implemented by the Food and Agriculture Organisation of the United Nations (FAO) and the Government through the Bureau of Standards Jamaica (BSJ), in partnership with the Ministry of Agriculture, Fisheries and Mining.
• Parishes involved in the project are Clarendon, St. Ann, St. Mary, St. Elizabeth and St. Catherine. The project identified key resource gaps through a sector-wide assessment and is addressing these with targeted support to strengthen pest monitoring and plant health systems.
• Work is under way to improve the technical and resource capacity of local producers, enhance inspection and regulatory bodies involved in sanitary and phytosanitary management and extension delivery to increase the capacity of stakeholders to adopt standards along the hot pepper value chain, increase the production of hot peppers and increase the export potential and market access opportunities for the sector.
• Overall, the project seeks to advance Jamaica’s hot pepper industry through achieving competitive, consistent, high-quality supply of fresh and processed products; meeting food safety and export requirements; sustainably meeting the increase in demand; increasing domestic and international sales; and enhancing the technical and resource capacity of local producers, inspection and regulatory bodies.

(Source: JIS)

• Minister of Health and Wellness, Dr. the Hon. Christopher Tufton, says the Government is open to leveraging artificial intelligence (AI) to address challenges in the health sector.
• He emphasises, however, that companies offering these systems must provide a change management plan. Dr. Tufton made the declaration while delivering remarks during the launch of local AI company, Vox Technology Limited, at The Jamaica Pegasus hotel in New Kingston on Friday (April 25).
• The Minister said one of the most significant challenges with AI and similar technologies is the willingness of existing human capital to embrace them. He explained that while AI could be useful in addressing issues such as a shortage of health personnel, if workers do not willingly embrace the technology, then it may not be worth the investment.
• He urged companies intending to provide the technology to ensure it is accompanied by an effective change-management plan, “because it becomes a waste of money if everything gets placed in the organisation and nobody uses it”.
• Tufton assured that the Ministry is open to AI solutions, particularly to address a shortage of human capital in healthcare.

(Source: JIS)

• Poultry farming in the Dominican Republic continues to play a vital role in both food security and the national economy. With daily production exceeding 750,000 fresh chickens, Gregory Marte, executive director of the Dominican Poultry Association (ADA), emphasised that between 300 and 400 trucks transport chickens daily from production farms to various markets, ensuring a consistent supply.
• Monte Plata, a major production hub, ships 250,000 chickens daily, further solidifying the country’s self-sufficiency in poultry production.
• Alongside chicken, the Dominican Republic’s egg industry has experienced record growth, with annual production reaching 3.95Mn eggs, valued at 21.00Mn pesos. This figure averages nearly one egg per person per day and supports both domestic consumption and exports.
• Of note, the country exports approximately 60Mn eggs monthly to Haiti and Cuba, contributing to foreign currency earnings and regional leadership in egg production.
• Additionally, despite challenges, strategic decisions have led to a 51% increase in genetic stock, boosting production capacity. Local prices for poultry products also remain stable, contrasting with international price hikes, and demonstrating the strength of the national poultry sector.

(Source: Dominican Today)

• In a historic move to strengthen bilateral and commercial relations, Trinidad and Tobago (T&T) and Chile have signed a first-of-its-kind partial scope trade agreement. The signing took place at the T&T’s Ministry of Trade's head office in Port of Spain on April 25, 2025.
• The agreement is set to provide preferential market access for T&T’s energy and non-energy exports under 267 tariff lines into Chile. Through the agreement, 213 tariff lines for locally manufactured products will incur zero duties upon export to Chile. Additionally, products under 54 tariff lines will receive the same duty-free treatment after three years. The agreement also allows for reduced tariffs on products imported by T&T from Chile under 143 tariff lines.
• Trinidad’s Trade Minister, Paula Gopee-Scoon, applauded the agreement, which came after seven years of negotiation. She said former Prime Minister Dr Keith Rowley’s official visit to Chile in May 2017 was the catalyst for the signing of the general framework agreement for negotiations. "This agreement reflects the shared understanding that in a world with increasing complexity, our co-operation is not a luxury but a necessity," she said at the signing ceremony.
• "We live in a time where global challenges require global solutions and, beyond that, meaningful partnerships. This agreement forms a key part of that solution in response to the current global economic climate, concerning current geopolitical relations and disruptions in trading arrangements. It seeks to diversify exports and strengthen commercial ties between the two countries."

(Source: Trinidad and Tobago Newsday)

• The U.S. trade deficit in goods widened to a record high in March as businesses ramped up efforts to bring in merchandise ahead of President Donald Trump's sweeping tariffs, suggesting trade was a large drag on economic growth in the first quarter.
• While some of the imported goods ended up in warehouses at wholesalers, economists said this would not blunt the anticipated hit on gross domestic product from the deterioration in the trade deficit.
• The report from the Commerce Department's Census Bureau prompted economists to sharply downgrade their GDP estimates for last quarter to show a steeper decline rather than growth just stalling. Goldman Sachs now sees GDP contracting at an 0.8% annualised rate while JPMorgan forecasts output to decline at a 1.75% pace.
• The goods trade gap increased 9.6% to $162.0Bn, the highest on record, the Commerce Department's Census Bureau said. Economists estimated trade could have sliced off as much as 1.9 percentage points from GDP last quarter.
• Goods imports soared by $16.3Bn to an all-time high of $342.7Bn. They were driven by a 27.5% jump in imports of consumer goods. There were also solid increases in imports of automotive vehicles and capital goods. But imports of industrial supplies, which had been boosted by non-monetary gold, declined 13.5%. Food imports fell, as did those of other goods.
• Economists have cautioned that imports, which are a subtraction in the calculation of GDP, could greatly exaggerate an anticipated economic slowdown in gross domestic product growth in the January-March quarter.
• Nonetheless, the uncertainty fueled by the often chaotic tariff policy, which has plunged the United States into a damaging trade war with China, is causing tremors throughout the economy. A separate report from the Conference Board showed its consumer confidence index dropped 7.9 points to 86.0 this month, the lowest reading since May 2020.

(Source: Reuters)

• Eurozone consumers raised their inflation expectations for the coming years in March, before the U.S. imposed tariffs on most nations, launching a global trade war that could sap economic growth, a European Central Bank survey showed on Tuesday.
• Inflation over the next 12 months was seen at 2.9%, up from 2.6% in the previous month's survey. The three-years-ahead figure rose to 2.5% from 2.4%, the ECB said based on a survey of 19,000 consumers in 11 euro zone nations.
• While such a rise would normally worry the ECB, the figures predate the U.S. tariffs, which have fundamentally changed the global economic outlook.
• The euro has strengthened, energy prices have fallen and economic growth is likely to be weaker, factors that are all likely to lower price growth. In addition, China, facing reduced access to the U.S. market, could also dump cheap goods on Europe, lowering inflation further.
• The outlook has changed so much that the ECB cut interest rates again in April, warning about weak growth. Some policymakers even see a risk that the ECB will again undershoot its 2% inflation target. The changes are also unlikely to be temporary, and the world is facing a profound shift in how nations interact economically, financially and diplomatically, the ECB has argued.

(Source: Reuters)

• Finance and Public Service Minister, Hon. Fayval Williams, highlighted the Government’s focus on maintaining fiscal discipline and continuing to develop the country’s infrastructure.
• She was speaking during the 2025 Spring Meetings of the World Bank Group and the International Monetary Fund (IMF) in Washington DC last week. Roads, water systems and climate resilience initiatives were the main topic of discussion during high-level meetings with the multi-lateral partners.
• “We remain committed to our debt-to-GDP (gross domestic product) targets, our fiscal targets and ensuring fiscal prudence in Jamaica,” she affirmed.
• This year’s meetings come amid significant global economic uncertainty, which Minister Williams acknowledged. She noted that “Jamaica is a very open, very connected nation to the rest of the world, and so we have to be extremely mindful of the impact of what’s going on in the rest of the world on us,” she said.

(Source: JIS)