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.




Economic growth in Ecuador faltered during 2002, slipping to 3.8% from its 2001 level of 5.5%. This downward trend carried over into the first quarter of 2003, despite an upturn in oil prices; for although output expanded by 2.4% in relation to the first quarter of 2002, it shrank by 0.3% with respect to the fourth quarter. Demand cooled as the confidence generated by dollarization in 2000 and the energizing effect of the construction of the heavy crude oil pipeline both wore off, while hydrocarbons production shrank, particularly in the State oil company, Petróleos del Ecuador (PETROECUADOR).


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