Caribbean Countries

The pace of economic activity was sustained in the Caribbean in 1998, with the subregional product increasing by an average of 2%. Nevertheless, performance was relatively uneven both among the countries and across production sectors. Real-sector activity was bolstered by the relatively strong performances of construction and tourism. Construction was boosted by strong private-sector investment and, in the countries affected by hurricane damage, by the necessary reconstruction and repair work. Manufacturing performance, though mixed, was relatively weak, mainly because of structural factors. In most countries, the sector has not undertaken the restructuring process needed to face external challenges, and productivity and efficiency levels are usually low. Real-sector activity suffered as a result of the decline in agricultural output, which was hurt by hurricane damage, generally adverse weather conditions and worsening commodity terms of trade.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions