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.



El Salvador

The Salvadoran economy grew by 1.5% in 2004, while per capita GDP fell for the fifth consecutive year. Rising inflows of foreign exchange in the form of family remittances (which amounted to 16.1% of GDP) and increased non-maquila exports were not enough to make up for the decline in maquila output and the sharp drop in public investment (40.4%) caused, in large part, by the delay in getting the national budget through Congress. With such a steep contraction of public investment and waning private investment in the construction sector, gross fixed capital formation was down by 3.8%.


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