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Economic Survey of Latin America and the Caribbean 1998-1999

image of Economic Survey of Latin America and the Caribbean 1998-1999

This survey presents an overview of the regional economy and the economic performance in 1998 and the first half of 1999. It also offers individual country reports on the performance of the 20 countries of Latin America during 1998 and the first half of 1999. In addition, the Economic Survey of Latin America and the Caribbean analyzes the economic situation in the countries of the English-speaking Caribbean. This year's edition includes a CD-ROM that contains the statistical appendix.

English

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Caribbean Countries

The pace of economic activity was sustained in the Caribbean in 1998, with the subregional product increasing by an average of 2%. Nevertheless, performance was relatively uneven both among the countries and across production sectors. Real-sector activity was bolstered by the relatively strong performances of construction and tourism. Construction was boosted by strong private-sector investment and, in the countries affected by hurricane damage, by the necessary reconstruction and repair work. Manufacturing performance, though mixed, was relatively weak, mainly because of structural factors. In most countries, the sector has not undertaken the restructuring process needed to face external challenges, and productivity and efficiency levels are usually low. Real-sector activity suffered as a result of the decline in agricultural output, which was hurt by hurricane damage, generally adverse weather conditions and worsening commodity terms of trade.

English

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