Economic Survey of Latin America 1960

image of Economic Survey of Latin America 1960

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.



Foreign trade and the balance of payments

In 1960, for the third consecutive year, external market conditions continued to be unfavourable for Latin America in comparison with the 1956-57 average. Either as a resuit of the smallness of the increase in world demand for primary commodities or because of over-production and the accumulation of abnormally large inventories (both inside and outside the area), the prices of most Latin American export commodities have shown a persistent decline over the last three years, without the occasional expansion achieved by some countries in their sales volume having been sufficient to counterbalance the effects of the fall in prices. Consequently, income derived from total exports in the period 1958–60 contracted considerably as compared with the aforementioned 1956–57 average, despite its slight recovery in the early months of 1960.


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