Economic Survey of Latin America and the Caribbean 2010-2011

International Integration and Macroeconomic Policy Challenges Amid Global Economic Turmoil

image of Economic Survey of Latin America and the Caribbean 2010-2011

This publication is issued annually by the Economic Development Division of the Economic Commission for Latin America and the Caribbean (ECLAC). This sixty-third edition of the Economic Survey looks at the nature of the recovery from the financial global and economic crisis whose fallout spread across the region in the second half of 2008 and in 2009. It also delves into the challenges posed by highly liquid conditions in international financial markets combined with high prices for the region’s key commodities. Finally, it analyzes the situation in the countries of Latin America and the Caribbean during 2010 into the first part of 2011.




Now that a year and a half have passed since the devastating earthquake that struck Haiti in January 2010, it is time to take stock of the progress made in rehabilitation and reconstruction. The Haitian Institute of Statistics and Information Sciences estimates that the country’s gross domestic product (GDP) contracted by 5.1% in real terms in fiscal year 2010, much less than originally forecast. One of the contributory factors may have been the 15% increase in final effective household consumption, supported by transfers and grants in kind. At the sectoral level, since the agricultural sector was not as hard hit, the fall in GDP was not as sharp as it might have been, despite a 15% decline in manufacturing and an 8% contraction in commerce.


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