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Guatemala feels chill winds of Europe's crisis

Tuesday, May 22, 2012

Problems in the European economy are spilling over into Central America, where Guatemala reports a 25 percent drop in exports to Europe during the first quarter, compared to the same period of 2011.

Guatemala's main exports to Europe are fruits, flowers, cardamom and coffee.

Brazil is also feeling the effects of the European crisis, after ArcelorMittal suspended a $1.5 million project due to lack of demand for steel.

However, the crisis hasn't affected north European countries so badly, according to Mexican plastics and petrochemical company Mexichem.

Full story (In Spanish)