Economic Survey of Latin America and the Caribbean 2002-2003

image of Economic Survey of Latin America and the Caribbean 2002-2003

The present edition of the Survey consists of three parts. The first part covers the main aspects of the regional economy from a sectorial and thematic perspective. The second part contains information of the analysis of the economic performance of the 19 countries of Latin America and the Spanish-speaking Caribbean and Haiti. The third part is dedicated to the remaining countries of the Caribbean, mainly English-speaking countries. Finally, the Survey offers two statistical appendixes, one of them contained in a CD-ROM distributed with the printed version.




While debate over economic reform raged, severe economic crisis, compounded by poor crop harvests due mainly to inclement weather conditions, conspired in 2002 to produce the sharpest contraction since 1983, in which output shrank by 2.3%. Given Parguay’s rate of population growth, per capita GDP declined by 4.7%, falling back to the level recorded in the early 1990s. Domestic demand sagged (-6%), although total demand decreased by only half that figure thanks to more buoyant exports. Both private and public consumption weakened by around 5%, while gross domestic investment declined for the sixth year running. Unemployment rose to 14.7%, up from 10.8% in 2001.


This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error