Introduction

The Latin American and Caribbean region grew by 4.5% in 2005 and is expected to expand by around 5% in 2006, thereby completing a fourth consecutive year of growth. If these projections are borne out, the average annual increase in the region’s GDP for this period will amount to approximately 17.6% (an annual average of 4.3%), which translates into an average rise in per capita GDP of nearly 12% (2.8% per year). This is only the second time that this has occurred in the region in the last 25 years (the first was in 1991-1994). In view of the moderate slowdown projected for the world economy, ECLAC estimates put the region’s growth rate for 2007 at around 4.5%.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions