Economic Survey of Latin America and the Caribbean 2005-2006

image of Economic Survey of Latin America and the Caribbean 2005-2006

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.



External sector

Worldwide economic growth has resulted in more buoyant international trade and has boosted demand for raw materials and helped push up prices. This trend has not been seen in all commodities, but the upswing has included most energy products, some industrial metals and certain agricultural products such as sugar, bananas and coffee. In the last three years, this external demand shock has fuelled a significant increase in economic activity in Latin America which has been coupled with surpluses on its balance-of-payments current account. This growth trend and improved external balance have been seen in countries whose export structures are based on commodities whose prices have risen. In other words, these results are due to an exogenous factor: higher prices for commodities that some countries possess in abundance.


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