Cement consumption in the second quarter in major Latin American economies closely reflected the current economic cycle and countries such as Peru, Bolivia and Chile stood out for their dynamism against a background of overall economic growth, according to the latest Infrastructure, Water & Waste Stats report by BNamericas.

Peru noted a 18.3 per cent YoY rise to 2.235Mt in cement demand. For 2012, the country is expected to grow by 5.9 per cent, making it the fastest-growing economy in the region, says the report.

Bolivia and Chile also achieved strong growth rates of 8.7 per cent and 8.4 per cent respectively. Market expansion was also noted in Brazil, where the figure reached 4.5 per cent although the Latin American giant was surpassed by Colombia (5.8 per cent) and Ecuador (5.1 per cent) in terms of positive change. Mexican cement demand increased by 2.6 per cent.

On the other hand, the cement market in Argentina contracted by 11.8 per cent, reflecting the country’s weak economic cycle and low infrastructure investment.