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Economic Survey of Latin America and the Caribbean 2005-2006

image of Economic Survey of Latin America and the Caribbean 2005-2006

This year's edition of the Economic survey of Latin America and the Caribbean, the fifty-seventh in this series, is divided into two parts. The first analyses the main features of the regional economy, while the second examines the situation in the individual countries of Latin America and the Caribbean. The full statistical appendix is published in electronic format for ease of data processing.

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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%.

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