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Economic Survey of Latin America and the Caribbean 2000-2001

image of Economic Survey of Latin America and the Caribbean 2000-2001

This survey presents an overview of the regional economy and the economic performance in 2000 and the first half of 2001. It also offers individual country reports on the performance of the 20 countries of Latin America for the same period. 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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Venezuela

The soaring price of petroleum boosted Venezuela's gross national income by a substantial 20% or so, thanks to a nearly 50% improvement in the real terms of trade. Economic activity accelerated during the year, and a 3.2% rise in gross domestic product (GDP) helped recoup part of the more than 6% decline suffered in 1999, bringing the high unemployment rate down slightly. The recovery was based primarily on growth in the oil sector, and to a lesser extent on an expansionary fiscal policy sustained by higher revenue from oil sales. As the external situation eased, the balance-of-payments current account posted a hefty surplus and the crawling peg exchange-rate policy helped to contain pressure on domestic prices. The inflation rate dropped for the fourth year in a row, to 13.4%.

English

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