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ERU News |
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28 February 2007 Venezuela – GDP Accelerates Venezuela’s economy expanded by an annual 11.8% in the fourth quarter of 2006, the fastest growth in two years. Manufacturing value-added output, which accounts for the largest single share of GDP, increased by 12.4%, compared with a 9.8% gain in the third quarter. This was boosted by double-digit growth in production of rubber and plastic, vehicles, machinery and equipment and elaborated metal. However, financial institutions and insurance reported the fastest pace of growth, at 32.5%, despite more than three years of extremely rapid growth. The construction sector was close behind, with output increasing by 30.5%, following a 38.1% expansion in the third quarter.
Economic Research Unit |
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