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Latin America's economy is composed of two main economic sectors: agriculture and mining. Latin America has large areas of land that are rich in minerals and other raw materials. [9] Also, the tropical and temperate climates of Latin America makes it ideal for growing a variety of agricultural products.
This is a list of Latin American and Caribbean countries by gross domestic product (nominal) in USD according to the International Monetary Fund's estimates in April 2024 World Economic Outlook database. Cuba is not included in the list due to lack of economic data.
The Latin American countries Brazil, Mexico, Argentina, Colombia, and Chile are the region's largest economies by gross domestic product (GDP) at purchasing power parity (PPP). Cuba is not included in the list due to lack of economic data. Of the countries listed some are not independent: the Falkland Islands are a British overseas territory ...
According to the IMF, Latin America and the Caribbean’s regional economy will grow by only 2% this year, below what it had grown last year. Brazil’s economy will expand by 2.2%, Mexico’s by ...
The United Nations Economic Commission for Latin America and the Caribbean, known as ECLAC, UNECLAC or in Spanish and Portuguese CEPAL, is a United Nations regional commission to encourage economic cooperation. ECLAC includes 46 member States (20 in Latin America, 13 in the Caribbean and 13 from outside the region), and 14 associate members ...
The economic history of Latin America covers the development of the Latin American economy from 2500 BCE to the start of the 21st century. In the pre-contact era, Latin America did not have an integrated economy. The indigenous peoples, particularly the Aztec Empire in central Mexico and the Inca Empire in the Andean region, had complex ...
The debt crisis of 1982 was the most serious of Latin America's history. Incomes and imports dropped; economic growth stagnated; unemployment rose to high levels; and inflation reduced the buying power of the middle classes. [8] In fact, in the ten years after 1980, real wages in urban areas actually dropped between 20 and 40 percent. [12]
The Latin American and the Caribbean Economic System, officially known as Sistema Económico Latinoamericano y del Caribe (SELA), is an organization founded in 1975 to promote economic cooperation and social development between Latin American and the Caribbean countries. In the early 1990s, its representatives consisted of members from 28 ...
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