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.




Real GDP grew by 4% in 2005, reflecting a loss of momentum of almost one percentage point with respect to 2004 and corresponding to per capita GDP of 1.9%. The open unemployment rate at the national level declined for the third consecutive year, from 6.5% to 5.6% national, while urban open unemployment stood at 7.0%. The real average wage increased significantly in the central government but remained unchanged for formal private-sector wage-earners. Official minimum wages were adjusted in May, when a nominal 16.5% increase was awarded for construction and financial sectors and 15% for other economic activities.


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