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Economic Survey of Latin America 1964

image of Economic Survey of Latin America 1964

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.

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Exports of primary commodities and the world market

The value of total exports from Latin America in 1964 is provisionally estimated to have increased again, by 6 per cent over 1963, thus continuing the upward trend begun in 1963, which was brought about both by the expansion of the volume of exports from some countries, as well as the rise of external prices of certain primary commodities. Compared with the figures for 1962, the increase in the volume of exports from the whole region in 1963 was relatively small (little less than 2 per cent) while the unit values of exports increased slightly more (3 per cent). The most outstanding feature of 1963, and especially of 1964, was the reversal of the downward trend shown by the index of unit values of exports since 1954. In fact although the volume of exports expanded somewhat more than 50 per cent between 1954 and 1962, the advantages accruing from this increase were largely offset by the 25 per cent drop in the unit values during the same period. Preliminary estimates for 1964 indicate that the increase in the unit values of exports during the year is larger than that of 1963 (around 6 per cent), while volume rose by 1 to 2 per cent. Be that as it may, 1964, is the first year in which in Latin America both the unit values of exports and the terms of trade regained the 1958 levels, although both these indexes remained well below the 1951–57 levels.

English

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