The Latin 500 of 2012
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13th October 2012

Latin Trade, 2012
Latin 500
The Latin 500 is a ranking based on the income and sales of the 500 largest firms in Latin America and is prepared by Brazilian consulting firm Economatica and published by Latin Trade
The numbers for 2011 are surprising in their sharp contrast to the previous year. Total corporate revenues increased 8.3 percent compared with 2010, when growth hit 21.5 percent. Meanwhile, profits fell 8.9 percent compared with extraordinary growth of 37.7 percent in the prior year.
A quick analysis might attribute the decline to the 2009 economic crisis finally washing into Latin American shores. Economits however, have a different explanation.
“The main reason for such different numbers between 2010 and 2011 is related to the different basis for comparison,” aid economist Jonathan Heath, of the National Statistics and Geographic Institute of Mexico. “There was a sharp economic crisis in 2009 that led to a 6 percent fall in GDP in Latin America,” he said. “It is relatively easy for companies to grow a great deal after a recession, as it involves recovering part (but not all) of their sales and earnings from prior years. This statistical rebound explains the fabulous growht in 2010. In this light, 8.3 percent new revenue in 2011 no longer seems like a weak result, but rather a strengthening of the companies’ performance a the situation stabilized”.
The Ranking
Beyond the macroeconomic environment, the performance of the …

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