Economic Survey of Latin America and the Caribbean 2003-2004

image of Economic Survey of Latin America and the Caribbean 2003-2004

This year's Survey, the fifty-sixth edition in this series, is divided into two parts. The first analyses the main features of the regional economy, while the second examines the situation in the individual countries of Latin America and the Caribbean. A summarized statistical appendix is supplemented by the more detailed information that is provided on the accompanying CD-ROM for ease of data processing.




Paraguay’s gross domestic product (GDP) grew by 2.6% in 2003, thereby reversing the previous year’s contraction. This result was exclusively due to significant output growth in the agricultural sector (15%) as a result of good weather conditions, as non-agricultural activities shrank by 0.4%. Thanks to this recovery in GDP, the total nationwide unemployment rate eased from 16.4% in 2002 to 13% in 2003, Nevertheless, this completed a six-year period of very meagre growth in the Paraguayan economy.


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