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Economic Survey of Latin America 1966

image of Economic Survey of Latin America 1966

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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Colombia

The growth rate of Colombia’s gross domestic product, which had been low in 1965 (3.2 per cent), showed signs of recovery during 1966. This was partly because by the end of November the volume of imports, which had contracted in 1965, had been stabilized at a high level, providing an impetus not only for industrial production but also for services, such as transport and commerce. Moreover, with the liberalization of imports, investment in machinery—to meet the latent demand created by the import restrictions imposed the previous year—increased by over 10 per cent. However, the recession in construction continued and total fixed investment only expanded by a little over 4 per cent in relation to 1965.

English

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