Economic Survey of Latin America and the Caribbean 1996-1997

image of Economic Survey of Latin America and the Caribbean 1996-1997

In 1996 and 1997, the economies of Latin America and the Caribbean appeared to have returned to the pattern of moderate growth. Part I of this publication gives insight into the economic trends, the international economy and the role of exchange rate policy in the region. Part II explores the economic developments by country. Included also is a statistical annex on diskette, which contains tables extending as far back as 1980.



Level of activity

The gross domestic product (GDP)of Latin America and the Caribbean returned to a moderate growth path in 1996 (3.6%) following a meagre performance the year before. In addition, the growth rates of the countries tended to converge. Per capita GDP increased by 2%, which was somewhat higher than the annual average recorded since the start of the 1990s. In spite of this favourable trend, the region's GDP for 1996 was just 34% higher than it had been in 1980, before the onset of the debt crisis, while per capita GDP was 2% lower than the 1980 figure.


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