Economic Survey of Latin America and the Caribbean 2004-2005

image of Economic Survey of Latin America and the Caribbean 2004-2005

This year's edition of the Economic survey of Latin America and the Caribbean,the fifty-seventh 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. The full statistical appendix is published in electronic format for ease of data processing.




Paraguay's GDP grew by 4% in 2004, which was the highest rate since 1995. This result was not exclusively attributable to expansion in the agricultural sector (as in 2003), but was also driven by an upturn in non-agricultural activities, especially meat production and commerce. The rate of inflation dropped considerably, to 2.8%, but is expected to come in around 8% in 2005, which coincides with the maximum rate stipulated in Paraguay's agreement with IMF. Unemployment stood at 7.3%, compared to 8.1 % in 2003. A more moderate expansion of GDP, of around 2.8%, is forecast for 2005, as agricultural output drops and the economy faces less propitious international conditions.


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