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.



Dominican Republic

The economy of the Dominican Republic grew by 2% in 2004, which reversed the contraction of 1.9% in 2003 and exceeded expectations formed early in the year. The export sector turned in a positive, although moderate, performance as tourist arrivals and exports of local goods increased, while free zone activity was virtually stagnant. Family remittances also grew (6.8%), reaching the equivalent of 12% of GDP. Domestic demand, in contrast, continued to suffer the consequences of the banking crisis in 2003. Consumption edged up gradually and investment slipped back for the second year running.


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