Economic Survey of Latin America and the Caribbean 2001-2002

image of Economic Survey of Latin America and the Caribbean 2001-2002

This survey consists of two distinctive parts. The first part examines main aspects of the regional economy, while the second part contains an analysis of the individual countries in Latin America and the Caribbean. The part on the regional economy covers the situation in the first semester of 2002 and the prospects for the year as a whole. It also analyzes various aspects of the regional economy in 2001, including macroeconomics policies and reforms, the performance of the internal economy, and the external sector. The part on individual countries covers 20 nations in Latin America and the English-speaking Caribbean. It covers the period 2001 and early 2002, revealing country reports with tables and figures showing main economic indicators.




An excellent agricultural season, comparable only to that of 1988, enabled GDP to grow by 2.7% in 2001, more than making up for the previous three years' contractions. As the population grew at a similar rate, however, per capita GDP stalled at the level recorded in the early 1990s. Aggregate demand expanded by 1.3%, slightly outpacing domestic demand, thanks to an export recovery following five straight years of decline. The upswing in domestic demand was attributable to greater buoyancy in private consumption, while public consumption and gross investment —especially by the public sector- both shrank.


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