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Preliminary Overview of the Economies of Latin America and the Caribbean 2018

image of Preliminary Overview of the Economies of Latin America and the Caribbean 2018

The Preliminary Overview of the Economies of Latin America and the Caribbean, one of the United Nations Economic Commission for Latin America and the Caribbean’s most important annual reports, analyzes in its last edition the economic performance of the region throughout the year, including the international context and macroeconomic policies implemented by the Commission’s Member States, while also providing an outlook for 2019.

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The external sector

In 2018, import growth —fuelled by stronger domestic demand— outpaced exports and thus eroded the trade surplus. At the same time, the income account deficit widened on the back of increased profit remittances abroad and interest payments on the external debt, in a context of rising international interest rates. On the other hand, the surplus on current transfers continued to grow, driven by a stronger flow of remittances received, while the services trade deficit was broadly unchanged.

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