Paraguay
- Author: Economic Commission for Latin America and the Caribbean
- Main Title: Economic Survey of Latin America and the Caribbean 2002-2003 , pp 267-274
- Publication Date: December 2003
- DOI: https://doi.org/10.18356/dd035be3-en
- Language: English
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.
© United Nations
ISBN (PDF):
9789211558777
Book DOI:
https://doi.org/10.18356/1802ae64-en
Related Subject(s):
Economic and Social Development
Sustainable Development Goals:
Countries:
Paraguay
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