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.



Bolivarian Republic of Venezuela

The economic expansion that started in the third quarter of 2003 continued in 2004. Growth of 17.9% over the year brought activity close to the levels recorded prior to the general strike at the end of 2002. The recovery took place across practically all the sectors and was stronger than original estimates had suggested. The political turmoil in the country continued during much of 2004. The result of the recall referendum held on 15 August confirmed the President's continuation in office until the end of his mandate at the beginning of 2007. According to data available for the first quarter of 2005, the economy grew by 7.9%, led by the non-petroleum sector, in particular the subsectors of construction, commerce, transport and finance. A growth rate of 7% is forecast for 2005 as a whole.


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