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.




After losing momentum sharply for three consecutive years, the Nicaraguan economy showed signs of recovery in 2003. At the same time, the authorities took steps to consolidate overall macroeconomic stability. Real GDP grew by 2.3%, boosted by an upturn in exports and an expansion in domestic demand engendered by higher consumption and government investment. However, as this revival was quite modest, there was a further decline in per capita GDP (-0.3%). Moreover, despite a deterioration in the terms of trade, per capita national income increased for the second year in a row (0.5%) thanks to an increase in current transfers, especially family remittances.


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