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Real GDP increased by 20.4% in January-September 2004 compared to the same period of 2003, after two consecutive years of deep economic recession (in 2003, Venezuelan GDP contracted 7.6%, after contracting 8.9% in 2002), and overall 2004 predictions range from 14 to 18% growth, with expectations for 2005 growth of 4 to 5%. However, the January-September...
Uruguay's economy remains dependent on agriculture. Agricultural production, which accounts for only 12% of GDP, and the industrial sector (18% of GDP), based on the transformation of agricultural products, make up more than half of the country's exports.. Leading economic sectors include meat processing, agribusiness, wood, wool, leather production...
The backbone of Suriname's economy is the export of alumina and small amounts of aluminum produced from bauxite mined in the country. In 1999, the aluminum smelter was closed. However, alumina exports accounted for 72% of Suriname's estimated export earnings of $496.6 million in 2001. Suriname's bauxite deposits have been among the world's richest....
Peru #8217;s economy is one of the most dynamic in Latin America, showing particularly strong growth over the past three years. During the 1990s, Peru was transformed by market-oriented economic reforms and privatizations, and met many conditions for long-term growth. From 1994 through 1997, the economy recorded robust growth driven by foreign direct...
Paraguay has a predominantly agricultural economy, with a struggling commercial sector. There is a large subsistence sector, including sizable urban unemployment and underemployment, and a large underground re-export sector. The country has vast hydroelectric resources, including the world's largest hydroelectric generation facility built and operated...
Panama's economy is based primarily on a well-developed services sector that accounts for nearly 80% of GDP. Services include the Panama Canal, banking, the Colon Free Zone, insurance, container ports, flagship registry, medical and health, and other business. A major challenge facing the government under former President Mireya Moscoso was turning...
With a per capita gross domestic product of only $950, Guyana is one of the poorest countries in the Western Hemisphere. The economy made dramatic progress after President Hoyte's 1989 economic recovery program (ERP). As a result of the ERP, Guyana's GDP increased 6% in 1991 following 15 years of decline. Growth was consistently above 6% until 1995...
Economy - overview: The economy is tied closely to the larger French economy through subsidies and imports. Besides the French space center at Kourou (which accounts for 25% of GDP), fishing and forestry are the most important economic activities. Forest and woodland cover 90% of the country. The large reserves of tropical hardwoods, not fully exploited,...
The Ecuadorian economy is based on petroleum production and exports of bananas, shrimp, and other primary agricultural products. In 2003, oil accounted for about 33% of public sector revenue and 39% of export earnings. Ecuador is the world's largest exporter of bananas (about $1.1 billion in 2003) and a major exporter of shrimp ($275.7 million in 2003)....
Colombia is a free market economy with major commercial and investment ties to the United States. Transition from a highly regulated economy has been underway for more than a decade. In 1990, the administration of President Cesar Gaviria (1990-94) initiated economic liberalization or quot;apertura, quot; and this has continued since then, with tariff...
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