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Economic Survey of Latin America 1954

image of Economic Survey of Latin America 1954

Published since 1948, this report examines various aspects of the previous year’s macroeconomic situation in the region and makes projections for the coming months. The study also includes country notes that review the performance of the main economic indicators in the period analysed.

English

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Trade and the balance of payments

The year 1954 was more favourable for Latin American trade and payments than had generally been anticipated. Raw material prices did not fall to the low level feared at the beginning of the year, when a deepening recession in the United States appeared to be in prospect. A relatively small decline in exports to that country was offset by the larger value of those to Europe, where continued economic progress and an 8 per cent rise in industrial production had much to do with maintaining world demand and prices for primary productions, or at least preventing a sharper decline in them. This was especially true in the case of metals and certain foodstuffs and agricultural raw materials.

English

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