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Note that Latin America is a loosely-defined cultural region encompassing all countries in the Americas that speak any language originated from ancient Latin - especifically, Spanish, French and Portuguese. These include Mexico, the Caribbean, Central America and South America.
With that in mind, all countries within the region are considered developing countries with varying degrees of economic development and prosperity; you can find Chile with a GDP per capita of USD 19,100 which is considered the wealthiest of the region and almost a developed nation, while on the other hand, you will find Haiti with a GDP per capita of only USD 1,300 and is considered one of the least developed countries in the world.
Following are some economic statistics for the region (2013):
Major economies of Latin America include Brazil (USD 2,416 billion), Mexico (USD 1,845 billion), Argentina (USD 771 billion), Colombia (USD 526 billion) and Venezuela (USD 407 billion).
Major exporters include Mexico (USD 371 billion), Brazil (USD 245 billion), Venezuela (92 billion), Argentina (USD 85 billion) and Chile (USD 78 billion).
Countries with largest labor force would be Brazil (107 million), Mexico (52 million), Colombia (24 million), Argentina (17 million) and Peru (16 million).
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What country in Latin America has the best economy?
Brazil
What can be said about the current economy and government of Latin America?
Latin America is a region composed of many countries. As such, each individual country has a different kind of government and economy. Some examples include:Mexico: Federal Republic; Export-oriented economyCuba: Communist State; tourism-oriented economyBrazil: Federal Republic; resource-oriented economy
What country has the worst economy in latin America?
probably Ecuador
What kind of economy does America have today?
capitalism
What is Mexicos Economy in Latin America?
It is the second largest economy after Brazil, and roughly represents 25% of the region's GDP.
Does most of Latin America have a market economy?
yes
What country in Latin America has the best economy?
Brazil
What can be said about the current economy and government of Latin America?
Latin America is a region composed of many countries. As such, each individual country has a different kind of government and economy. Some examples include:Mexico: Federal Republic; Export-oriented economyCuba: Communist State; tourism-oriented economyBrazil: Federal Republic; resource-oriented economy
What country has the worst economy in latin America?
probably Ecuador
Who has the largest economy in latin america?
Brazil does (2.1 trillion)
Why did latin America have little influence on the world economy between 1492 and 1845?
Because they were counted as part of the European economy. At the time, Latin America was a colony of the Spanish, French and Portuguese empires.
How can how can the weather affect the economy in Latin America?
They are mostly a farming economy and if the weather is bad it effects the plants.
What country made most of their money in Latin America?
Brazil is the largest economy in Latin America, in terms of volume (US$2.09 trillion)
What kind of government does Latin America have?
Latin America is a region and does not have a government. The individual countries that are in Latin America have democracies for the most part.
What kind of economy does America have today?
capitalism
Which statement best describes the economy in Latin America during the colonial times?
European nations practiced a mercantilistic system in latin America
What kind of energy do rivers in Latin America create?
Kinetic energy. This is not limited to Latin America, however.
