Preliminary Overview of the Economies of Latin America and the Caribbean 2005

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cepal.bibLevelDocumento Completo
cepal.callNumberINT UN/EC 33(2005)
cepal.callNumberLC/G.2292-P
cepal.divisionEngEconomic Development Division
cepal.divisionEngStatistics Division
cepal.divisionSpaDivisión de Desarrollo Económico
cepal.divisionSpaDivisión de Estadísticas
cepal.docTypeInformes periódicos
cepal.idSade23219
cepal.physicalDescriptiongráficos, tablas
cepal.regionalOfficeSantiago
cepal.saleNumber05.II.G.188
cepal.topicEngMACROECONOMICS
cepal.topicEngBALANCE OF PAYMENTS
cepal.topicEngTRADE IN GOODS AND SERVICES
cepal.topicEngEMPLOYMENT
cepal.topicEngFISCAL AFFAIRS
cepal.topicEngPRICES
cepal.topicEngFINANCIAL AND MONETARY SECTOR
cepal.topicEngECONOMIC INDICATORS AND PROJECTIONS
cepal.topicSpaMACROECONOMÍA
cepal.topicSpaBALANZA DE PAGOS
cepal.topicSpaCOMERCIO DE BIENES Y SERVICIOS
cepal.topicSpaEMPLEO
cepal.topicSpaASUNTOS FISCALES
cepal.topicSpaPRECIOS
cepal.topicSpaSECTOR FINANCIERO Y MONETARIO
cepal.topicSpaINDICADORES ECONÓMICOS Y PROYECCIONES
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaEngSTATISTICS
cepal.workareaSpaDESARROLLO ECONÓMICO
cepal.workareaSpaESTADÍSTICAS
dc.contributor.entityNU. CEPAL
dc.coverage.spatialEngLATIN AMERICA AND THE CARIBBEAN
dc.coverage.spatialSpaAMERICA LATINA Y EL CARIBE
dc.date.accessioned2014-01-02T14:25:42Z
dc.date.available2014-01-02T14:25:42Z
dc.date.issued2005-12
dc.descriptionIncludes bibliography
dc.description.abstractThis annual publication, one of the most important of ECLAC, includes official country figures up to November 30th, and an analysis of developments in the region's economy in 2005 and projections for 2006. The Latin American and Caribbean economy grew by 4.3% in 2005, which represents the third consecutive year of growth in the region. Per capita GDP is estimated to have risen by about 3%. Unemployment rate fell from 10.3% in 2004 to 9.3% in 2005 and poverty indices decreased from 44% in 2002 to 40.6% in 2005. The performance of the domestic demand and the expansion of 3.3% of the world economy in 2005, contributed to these results. For 2006, GDP growth for Latin America and the Caribbean is projected to come in at about 4.1%; this rate would be high enough to bring about an annual average growth rate above 4% during 2003-2006 and an accumulated growth of 11% in per capita GDP. However auspicious, it can not be ignored the fact that the region is growing at lower rates than developing countries as a whole, whose GDP is increasing at an average rate of 5.7%, for the period 2003-2006. Latin American and Caribbean sub-regions show distinctive behaviours, being Southern Cone and the Andean Community countries those who register higher growth. Venezuela (9%, Argentina (8.6%), Uruguay (6%), Chile (6%), Peru (6%) and Panama (6%) posted the highest growth rates in the region. ECLAC highlights as a distinctive characteristic of this period of growth the increasing surplus in the current account balance of the balance of payments, fact without precedents in the economic history of the region in the last half century. In 2005, the balance of the current account will be positive and equivalent to 1.3% of GDP (0.9% in 2004 and 0.5% in 2003), presenting, however, differences among sub-regions. The improvement in the terms of trade and the migrants transfers help to explain the evolution of the current account. The world economic growth and the increasing participation of China, India and other Asian economies, improved the terms of trade of South American countries (31% increase between 2005 and the 1990 decade), and, to a lesser extent Mexico (22% increase in the same period). Although in regional terms investment increased in 2005, its levels are still below the ones recorded in 1998. Growing at higher rates, an indispensable requisite to faster reduce the unemployment rate, demands an important increase in the investment rate. The governments of the region are taking advantage of the favourable conjuncture to improve fiscal accounts. As fiscal revenues increase, the surplus is being used to reduce public debt, which is seen by ECLAC as a positive sign. Although the public debt/ GDP ratio is still high in many countries, its decrease leads to a lower external vulnerability of the region, with the exception of some Caribbean countries. Sustained growth in the past three years starts to impact positively in the labour markets, contributing, however in a very recent manner, to alleviate the difficult social situation of Latin America and the Caribbean. The rise in employment combined with a lower dynamism in the supply of labour force, allows for the reduction of the unemployment rate in a context of an increase of formal employment in the region. The Preliminary Overview of the Economies of Latin America and the Caribbean is an annual ECLAC publication prepared by the Economic Development Division in cooperation with the Statistics and Economic Projections Division, the Commission's sub-regional headquarters in Mexico City and Port of Spain and the ECLAC offices in Argentina, Brazil, Colombia and Uruguay. The report also reflects the valuable input received from the central banks and national statistical offices of the countries of the region, which provide the statistical information that serves as a basis for its preparation.
dc.formatTexto
dc.format.extent182 páginas.
dc.format.mimetypeapplication/pdf
dc.identifier.isbn9211215749
dc.identifier.unSymbolLC/G.2292-P
dc.identifier.urihttps://hdl.handle.net/11362/965
dc.language.isoeng
dc.physicalDescription182 p. : gráfs., tabls.
dc.publisherECLAC
dc.publisher.placeSantiago
dc.relation.isPartOfSeriesPreliminary Overview of the Economies of Latin America and the Caribbean
dc.relation.translationLanguagespa
dc.relation.translationRecordBalance preliminar de las economías de América Latina y el Caribe 2005
dc.relation.translationUrihttps://hdl.handle.net/11362/964
dc.rights.coarDisponible
dc.subject.unbisEngBALANCE OF PAYMENTS
dc.subject.unbisEngECONOMIC GROWTH
dc.subject.unbisEngECONOMIC INDICATORS
dc.subject.unbisEngECONOMIC POLICY
dc.subject.unbisEngEXPORTS
dc.subject.unbisEngEXTERNAL DEBT
dc.subject.unbisEngFOREIGN INVESTMENTS
dc.subject.unbisEngGROSS DOMESTIC PRODUCT
dc.subject.unbisEngIMPORTS
dc.subject.unbisEngINFLATION
dc.subject.unbisEngUNEMPLOYMENT
dc.subject.unbisEngWAGES
dc.subject.unbisEngTRADE IN SERVICES
dc.subject.unbisEngMONETARY SYSTEMS
dc.subject.unbisEngFINANCIAL RESOURCES
dc.subject.unbisSpaBALANZA DE PAGOS
dc.subject.unbisSpaCRECIMIENTO ECONOMICO
dc.subject.unbisSpaDESEMPLEO
dc.subject.unbisSpaDEUDA EXTERNA
dc.subject.unbisSpaEXPORTACIONES
dc.subject.unbisSpaIMPORTACIONES
dc.subject.unbisSpaINDICADORES ECONOMICOS
dc.subject.unbisSpaINFLACION
dc.subject.unbisSpaINVERSIONES EXTRANJERAS
dc.subject.unbisSpaPOLITICA ECONOMICA
dc.subject.unbisSpaPRODUCTO INTERNO BRUTO
dc.subject.unbisSpaSALARIOS
dc.subject.unbisSpaCOMERCIO DE SERVICIOS
dc.subject.unbisSpaSISTEMAS MONETARIOS
dc.subject.unbisSpaRECURSOS FINANCIEROS
dc.titlePreliminary Overview of the Economies of Latin America and the Caribbean 2005
dc.type.coarpublicación seriada
dspace.entity.typePublication
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Balance Preliminar de las Economías de América Latina y el Caribe