Level of activity

After three years of virtual stagnation, the level of activity of Latin America and the Caribbean recovered to some extent (3.2%), raising per capita output for the first time since 1987. Nevertheless, under the persistent effects of the debt crisis and adjustment processes, regional output for 1991 was only 16% higher than that of pre-crisis 1980, while per capita output was 8% below its 1980 level and equal to that of 1977. The carryover of Brazil's recession, with its high inflation rates, had a considerable impact on regional growth, since that country's economy represents close to a third of the total output of Latin America and the Caribbean. The other economies expanded at an average rate of 4.4%, and 2.2% in per capita terms, both increases that had not been seen since 1980.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions