Economic Survey of Latin America and the Caribbean 2006-2007

image of Economic Survey of Latin America and the Caribbean 2006-2007

The publication surveys the main economic events and developments of 2006 and the first half of 2007 in the light of the region’s recent economic performance. The fifty-ninth edition of the survey is aimed to provide further inputs for the economic debates concerning means of promoting a rapid, sustainable growth process capable of creating conditions conducive to an improvement in the living conditions in the region. It also describes various aspects of the regions economic growth dynamics. The tables provided in the statistical appendix provide ready access to data for recent years and facilitate the creation of spreadsheets. The edition is supplemented by a CD-ROM.




In 2006 the Panamanian economy grew rapidly for the third consecutive year. GDP rose by 8.1% (6.9% in 2005) while per capita GDP expanded by 6.3% during the year and 17% over the last three years. Favourable international conditions boosted exports of goods and services, while domestic demand remained very buoyant, bolstered by the abundance of credit. The public sector posted a surplus, and the balance-of-payments deficit was halved. Open unemployment continued to fall, and real wages edged up slightly, in part because of the moderating inflation.


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