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Reply #1: South America survived the 2008 economic crisis remarkably intact [View All]

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ChangoLoa Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-29-11 01:53 PM
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1. South America survived the 2008 economic crisis remarkably intact
Truly remarkably and it has been a great demonstration of solidity... indeed, this happens for the first time in history!!!

So, that's GREAT!!

Except for Venezuela whose economy shrinked by 4,6% between 2008 and 2010 (-7,6% if you consider demographic growth) according to the Central Bank.

http://www.bcv.org.ve/c2/indicadores.asp
retrieve AGREGADOS MACROECONÓMICOS
then "PIB por Sectores Institucionales. Precios Constantes. Base 1997"

In the excel file, calculate:
(2010 GDP - 2008 GDP)/2008 GDP
Or: (55,807,510 - 58,525,074)/ 58,525,074

-4,6% between 2008 and 2010.

That means the Venezuelan crisis has been 10 times worse than in the US, where the contraction of the product amounted for -0,5% in the same period)

Check US stats here
http://www.bea.gov/iTable/iTable.cfm?ReqID=9&step=1
retrieve "Domestic Product and Income"


BY THE WAY, isn't Correo del Orinoco a Venezuelan government newspaper??

What does the ".gob.ve" means??
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