Construction contributed nearly half of Venezuela's total GDP growth in the third quarter, even though it represents less than 10 percent of the overall economy.  Meanwhile petroleum's decline (dark blue), at a negative 8.4 percent annual rate, more than offset the growth of the previous quarter.  It has grown at just a 1.3 percent average annual rate since its trough in the fourth quarter.  At this rate, it will not reach its pre-recession level for another seven years.

ladb-12-13-2011-ge

For more, check out the latest Latin America Data Byte.

Site Maintenance

"The CEPR website currently takes longer to load than usual. We hope to have this and other issues addressed shortly. While this much needed site maintenance is taking place, our content is still available so please continue to slooowwwly surf the pages of our site. Thank you for your patience."