Economy of South America
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| Population: | 382 million |
| GDP (PPP): | $4.066 trillion (2009) |
| GDP (Currency): | $2.447 trillion (2009) |
| GDP/capita (PPP): | $9,736 (2009) |
| GDP/capita (Currency): | $8,663 (2009) |
| Annual growth of per capita GDP: |
9.00% (2006) |
| Income of top 1%: | 44.37% |
| Millionaires: | 400,000 (0.07%) |
| Unemployment | 9% (2002) |
| *Most numbers are from nationmaster.com from 2002, some numbers exclude certain countries for lack of information. | |
| See also: Economy of the world – Economy of Africa – Economy of Asia – Economy of Europe – Economy of North America – Economy of Oceania – Economy of South America | |
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The economy of South America comprises around 382 million people living in twelve nations and three territories. It contributes 6% of the world's population.
Contents |
Economic development
As of early 2007, South America is experiencing great economic development, with Venezuela, Colombia, Argentina, Uruguay and Peru growing their economies by over 8% per annum. Brazil's economy, on the other hand, is expected to grow by a more sluggish pace during the year.
South America relies heavily on the exporting of goods. On an exchange rate basis Brazil (the seventh largest economy in the world and the second largest in the Americas) leads the way in total amount of exports at $137.8 billion dollars followed by Chile at 58.12 billion and Argentina with 46.46 billion.
GDP ranks as of 2008
GDP (PPP) 2009
Note: French Guiana, unlisted here, had a total GDP of US$3.52 billion in 2006 (at real exchange rates, not at PPP).
GDP per capita (PPP) 2009
Note: French Guiana, unlisted here, had a GDP per capita of US$17,336 in 2006 (at real exchange rates, not at PPP).
GNI per capita
- Gross national income (GNI) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI per capita is
External Debt
- External debt (or foreign debt) is that part of the total debt in a country that is owed to creditors outside the country. The debtors can be the government, corporations or private households. The debt includes money owed to private commercial banks, other governments, or international financial institutions such as the IMF and World Bank.
Annual economic growth
Unemployment rate (lowest to highest)
Unemployment rate
(%)
Poverty line (lowest to highest)
Annual inflation
Public debt (lowest to highest)
- Refers to what is owed by the combined public sector to both domestic and foreign creditors.
Trade blocks
The biggest Trade Block in South America is Mercosur (or Mercosul in Portuguese), comprising Argentina, Brazil, Paraguay, Uruguay and Venezuela. Associate states include Bolivia, Chile, Colombia, Ecuador and Peru. The second-biggest trade bloc is the Andean Community of Nations comprising Bolivia, Colombia, Ecuador, Peru, Venezuela and as of 2006 Chile. The Union of South American Nations is expected to merge both trade blocs.
Currency
Below is a list of the currencies of South America, with exchange rates between each currency and both the euro and US dollars.
Table correct as of January 16, 2008; click price to obtain a current quote
References
- xe.com Universal Currency Converter provides latest figures.
Economic sectors
Agriculture
Main products include: Coffee, soybeans, wheat, rice, corn, sugarcane, cocoa, citrus, beef. Bananas and shrimp are also important agricultural products for many countries (like Ecuador).
Manufacturing
Industries are also important to South America’s economy. Most South American factories produce food items, consumer goods, or building materials. Larger countries also produce cars, trucks, and airplanes. Some of these companies import all the parts and raw materials needed for manufacturing which limits the amount of profits they can receive for the item. An important factor that is crucial to the success of industries is importing and exporting. An organization called Mercosur helps to expand trade, improve transportation, and reduce tariffs among member countries.
Transport
At the beginning of August 2008, Venezuelan president Hugo Chavez and his colleagues from Argentina and Brazil spoke about Latin American integration and Chavez threw an ambitious idea out: a train that would connect Venezuela's capital (Caracas) with Argentina's (Buenos Aires), and cities in between .
Economy by country
Economy of:
References
- ^ CIA - The World Factbook - Rank Order - Exports
- ^ a b (French) INSEE-CEROM. "Les comptes économiques de la Guyane en 2006 : premiers résultats". http://prod-afd.afd.zeni.fr/jahia/webdav/site/cerom/users/admin_cerom/public/Pdf/CR2006_guy.pdf. Retrieved 2008-01-14.
- ^ List of countries by GDP (PPP)
- ^ http://siteresources.worldbank.org/DATASTATISTICS/Resources/GNIPC.pdf
- ^ CIA - The World Factbook - Rank Order - Debt - external
- ^ CIA - The World Factbook - Rank Order - GDP - real growth rate
- ^ CIA - The World Factbook - Rank Order - Unemployment rate
- ^ CIA - The World Factbook - Field Listing - Population below poverty line
- ^ https://www.cia.gov/library/publications/the-world-factbook/rankorder/2092rank.html
- ^ CIA - The World Factbook - Rank Order - Public debt
- ^ http://www.treehugger.com/files/2008/09/train-to-cross-south-america-southern-train-venezuela-argentina.php
See also
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