Economy of South America

Economy of South America
During 2003 unless otherwise stated
Population:364.24 million
GDP (PPP):$2.65 trillion
GDP (Currency):$0.97 trillion
GDP/capita (PPP):$7,264
GDP/capita (Currency):$2,663
Annual growth of
per capita GDP:
0.29% (2002)
Income of top 10%:44.37%
Millionaires:0.3 million (0.08%)
Unemployment10.76% (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


The economy of South America comprises about 500 million people living in 14 states and territories.

Economic development

Enlarge picture
São Paulo, Brazil. One of the financial centers of South America, and also the fifth biggest city in the world. See List of metropolitan areas by population.


As of early 2007, South America is experiencing great economic development, with Venezuela, Argentina, Uruguay and Perú growing their economies by over 8% per annum. Chile is also experiencing continued growth of 6% for the last few years on the back of copper prices. Brazil's economy, on the other hand, is expected to grow by a more sluggish pace during the year.

GDP ranks as of 2005

GDP (PPP) 2005
Rank in world Country GDP
9thBrazil$1.5 trillion
22ndArgentina$533.7 billion
29thColombia$337.2 billion
43rdChile$196.4 billion
49thVenezuela$176 billion
50thPeru$167.2 billion
68thEcuador$60.173 billion
90thUruguay$34.3 billion
96thParaguay$28.3 billion
101stBolivia$25.6 billion
157thGuyana$3.4 billion
162ndSuriname$2.8 billion
Source: List of countries by GDP (PPP)


GDP per capita (PPP) 2005
Rank in world Country GDP
per capita
50Argentina14,109
56Chile12,983
65Uruguay10,028
68Brazil$9,108
81Colombia7,565
96Venezuela6,186
97Peru5,983
99Ecuador5,816
101Suriname5,683
105Guyana4,612
107Paraguay4,555
125Bolivia2,817
Source: List of countries by GDP (PPP) per capita

Regional variation

Brazil, Argentina, Colombia and Chile, in this order, have the largest economies in South America, while Argentina, Chile and Uruguay have the best Human Development Index of South America. Venezuela, in turn, has large oil reserves that have turned the nation into an important player in world trade.

Trade blocs

The biggest Trade Bloc in South America is Mercosur, 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. It is planned to have a yet unamed South American currency and central bank in Brasília.

Country Currency worth in Euros worth in USD Central bank
ArgentinaArgentine peso (ARS)3.4791 / euro2.9440 / USDBanco Central de la República Argentina [1]
BoliviaBolivian boliviano (BOB)9.4656 / euro8.0200 / USDBanco Central de Bolivia [2]
BrazilBrazilian real (BRL)2.6611 / euro2.2555 / USDBanco Central do Brasil [3]
ChileChilean peso (CLP)622.61 / euro527.70 / USDBanco Central de Chile [4]
ColombiaColombian peso (COP)2,696.08 / euro1,962.50 / USDBanco de la República [5]
EcuadorU.S. dollar (USD)0.8466 / euro1Federal Reserve [6]
French GuianaEuro (EUR)11.1807 / USDEuropean Central Bank [7]
GuyanaGuyanese dollar (GYD)236.64 / euro201.62 / USDBank of Guyana [8]
ParaguayParaguayan guaraní (PYG)7,238.5 / euro6,132.0 / USDBanco Central del Paraguay [9]
PeruPeruvian nuevo sol (PEN)4.0007 / euro3.3897 / USDBanco Central de Reserva del Perú [10]
SurinameSurinamese dollar (SRD)3.263 / euro2.780 / USDCentrale Bank van Suriname [11]
UruguayUruguayan peso (UYU)27.902 / euro23.635 / USDBanco Central del Uruguay [12]
VenezuelaVenezuelan bolívar (VEB)2,538.6 / euro2,150.5 / USDBanco Central de Venezuela [13]


Table correct as of November 22 2005; click price to obtain a current quote

References

Economic sectors

Agriculture

Manufacturing

Industries are also important to Latin 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.

Investing and banking

Due to histories of high inflation in nearly all South American Countries interest rates and thus investment remain high and low respectively. The important exception is Chile, which has had a head start from 1973 with low inflation, high growth, and unfortunately high unemployment economic policies under Augusto Pinochet.

This bad history remains with interest rates usually double that of the U.S. in Argentina because of its 2002 economic crisis and 80% inflation at that time, but fortunately the economy appears to have normalized since then (except for widespread tax evasion in the country). However, The Argentine's government's default on its loans has left it with a bad credit standing in the IMF.

Other countries with high inflation in South America are Venezuela at 22.4% and Suriname at 23%.

Economy by country

Economy of:

See also

1,000,000,000 (alternately known as one thousand million and one billion, see below) is the natural number following 999,999,999 and preceding 1,000,000,001.

In scientific notation, it is written as 109.
..... Click the link for more information.
gross domestic product, or GDP, is one of the ways for measuring the size of its economy. The GDP of a country is defined as the total market value of all final goods and services produced within a country in a given period of time (usually a calendar year).
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There are three lists of countries of the world sorted by their gross domestic product (GDP) (the value of all final goods and services produced within a nation in a given year). The GDP dollar estimates given on this page are derived from Purchasing Power Parity (PPP) calculations.
..... Click the link for more information.
United States dollar
dólar estadounidense (Spanish)
dólar amerikanu (Tetum)
dólar americano

..... Click the link for more information.
gross domestic product, or GDP, is one of the ways for measuring the size of its economy. The GDP of a country is defined as the total market value of all final goods and services produced within a country in a given period of time (usually a calendar year).
..... Click the link for more information.
List of countries by GDP may refer to:
  • List of countries by GDP (nominal), a list using the current exchange rates for national currencies
  • List of countries by GDP (PPP), a list using the concept of purchasing power parity to derive GDP estimates

See also


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This article includes two lists of countries of the world[1] sorted by their gross domestic product (GDP) at purchasing power parity (PPP) per capita, the value of all final goods and services produced within a nation in a given year divided by the average population for
..... Click the link for more information.
list of countries of the world sorted by their Gross Domestic Product (nominal) per capita, the value of all final goods and services produced within a nation in a given year, divided by the average population for the same year.
..... Click the link for more information.
20th century - 21st century - 22nd century
1970s  1980s  1990s  - 2000s -  2010s  2020s  2030s
1999 2000 2001 - 2002 - 2003 2004 2005

2002 by topic:
News by month
Jan - Feb - Mar - Apr - May - Jun
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millionaire is an individual who resides in a household whose net worth or wealth exceeds one million units of any currency. It can also be a person who owns 1 million units of currency in one bank account or savings account.
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worldwide view.
Unemployment is the state in which a worker wants, but is unable, to work. The unemployment rate is the number of unemployed workers divided by the total civilian labor force.
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20th century - 21st century - 22nd century
1970s  1980s  1990s  - 2000s -  2010s  2020s  2030s
1999 2000 2001 - 2002 - 2003 2004 2005

2002 by topic:
News by month
Jan - Feb - Mar - Apr - May - Jun
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20th century - 21st century - 22nd century
1970s  1980s  1990s  - 2000s -  2010s  2020s  2030s
1999 2000 2001 - 2002 - 2003 2004 2005

2002 by topic:
News by month
Jan - Feb - Mar - Apr - May - Jun
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The world economy can be evaluated in various ways, depending on the model used, and this valuation can then be represented in various ways (for example, in 2006 US dollars).
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The economy of Africa consists of the trade, industry, and resources of the peoples of Africa. As of July 2005, approximately 887 million people were living in 54 different states.
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The economy of Asia comprises more than 4 billion people (60% of the world population), living in 46 different states. In addition to this, there are six further states that lie partly in Asia, but are considered to belong to another region economically and politically.
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The economy of Europe comprises more than 710 million people in 48 different states. Like other continents, the wealth of Europe's states varies, although the poorest are well above the poorest states of other continents in terms of GDP and living standards.
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The economy of North America comprises more than 514 million people in 23 soverign states and 15 dependent territories. It is marked by a sharp division between the northern English and French speaking countries of Canada and the United States, which are among the
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The economy of Oceania comprises more than 14 separate countries and their associated economies. On a total scale the region has approximately 35,834,670 inhabitants who are spread among 30,000 islands in the South Pacific bordered between Asia and the Americas.
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Motto
[2]
Anthem
Gloria al Bravo Pueblo   (Spanish)
"Glory to the Brave People"
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Motto
En unión y libertad   (Spanish)
"In Union and Freedom"
Anthem
Himno Nacional Argentino
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Motto
Libertad o muerte   (Spanish)
"Freedom or death"
Anthem
Himno Nacional Uruguayo
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Anthem
Somos libres, seámoslo siempre   (Spanish)
"We are free, may we always be so"
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Motto
Por la Razón o la Fuerza
(Spanish: "By right or might")
Anthem
Himno Nacional de Chile
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2, 1
(mildly basic oxide)
Electronegativity 1.90 (Pauling scale)
Ionization energies
(more) 1st: 745.5 kJmol−1
2nd: 1957.9 kJmol−1
3rd: 3666 kJmol−1

Atomic radius 135 pm
Atomic radius (calc.
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Motto
Ordem e Progresso   (Portuguese)
"Order and Progress"
Anthem
Hino Nacional Brasileiro
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Motto
Ordem e Progresso   (Portuguese)
"Order and Progress"
Anthem
Hino Nacional Brasileiro
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Motto
En unión y libertad   (Spanish)
"In Union and Freedom"
Anthem
Himno Nacional Argentino
..... Click the link for more information.
1,000,000,000 (alternately known as one thousand million and one billion, see below) is the natural number following 999,999,999 and preceding 1,000,000,001.

In scientific notation, it is written as 109.
..... Click the link for more information.
Motto
"Libertad y Orden"   (Spanish)
"Liberty and Order"
Anthem
Oh, Gloria Inmarcesible!
..... Click the link for more information.


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