Economic Survey of Latin America and the Caribbean 1993

image of Economic Survey of Latin America and the Caribbean 1993

Issued in two volumes - volume I gives insight into the economic trends, the international economy and the role of exchange rate policy in Latin America and the Caribbean. Volume II explores the economic developments by country. Complimentary statistical tables are included.



Level of activity

The moderate upturn in activity in the economies of Latin America and the Caribbean, which had begun in 1991, continued in 1993 with an increase of 3.4%. Thus, per capita GDP expanded once again, this time by 1.5%. Even so, inasmuch as regional output was only 24% above its 1980 level -before the start of the debt crisis- per capita GDP for 1993 was still nearly 5% below what it had been in 1980 and was, in fact, equivalent to the 1978 figure. In contrast to previous years, Brazil contributed to the expansion of regional output, with its activity level increasing significantly in 1993 following three years of weak performances. If Brazil were excluded, then the growth rate of Latin America and the Caribbean would have fallen from an annual rate of about 5% for the two previous years to 2.6% in 1993.


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