It is a word that is used to make the second list correspond to the first list made in a sentence.
You
will know by looking at this example:
"Let's buy a CPU, a memory
chip, and a motherboard because on the magazine, the reduced prices are 35,
45, and 60 dollars respectively."
You can see that by putting the word Respectively, the reader now knows that the CPU costs 35 dollars since the
two are both introduced in the first slot of the list.
I have
three fruits: A
banana, a bundle of grapes, and some oranges, and respectively, they are yellow, purple and
orange.