Economy_of_south_america

Economy of South America
During 2003 unless otherwise stated

Population:	364.24 million
GDP (PPP):	$2.85 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%)
Unemployment	10.76% (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 around 371 million people living in twelve nations and three territories.

Contents 1 Economic development 1.1 GDP ranks as of 2007 1.2 GNI per capita 1.3 External Debt 1.4 Unemployment rate (lowest to highest) 1.5 Poverty line (lowest to highest) 1.6 Public debt (lowest to highest) 2 Regional variation 3 Trade blocs 4 Currency 4.1 References 5 Economic sectors 5.1 Agriculture 5.2 Manufacturing 6 Economy by country 7 References 8 See also

Economic development

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 Peru 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.

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 America) 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.https://www.cia.gov/library/publications/the-world-factbook/rankorder/2078rank.html

GDP ranks as of 2007

GDP (PPP) 2007
Note: French Guiana, unlisted here, had a total GDP of US$3.52 billion in 2006 (at real exchange rates, not at PPP).(French) INSEE-CEROM. Les comptes économiques de la Guyane en 2006 : premiers résultats. Retrieved on 2008-01-14.

Rank in world	Country	GDP
11	Brazil	$1.838 trillion
25	Argentina	$523.7 billion
32	Venezuela	$335 billion
36	Colombia	$320.4 billion
46	Chile	$234.4 billion
50	Peru	$217.5 billion
66	Ecuador	$98.28 billion
96	Bolivia	$39.78 billion
98	Uruguay	$37.05 billion
109	Paraguay	$26.55 billion
168	Guyana	$4.047 billion
173	Suriname	$3.449 billion
Source: CIA World Factbookhttps://www.cia.gov/library/publications/the-world-factbook/rankorder/2001rank.html

GDP per capita (PPP) 2005
Note: French Guiana, unlisted here, had a GDP per capita of US$17,336 in 2006 (at real exchange rates, not at PPP).

Rank in world	Country	GDP per capita
50	Argentina	14,109
56	Chile	12,983
65	Uruguay	10,028
68	Brazil	$9,108
81	Colombia	7,565
96	Venezuela	6,186
97	Peru	5,983
99	Ecuador	5,816
101	Suriname	5,683
105	Guyana	4,612
107	Paraguay	4,555
125	Bolivia	2,817
Source: List of countries by GDP (PPP) per capita

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 gross national income divided by mid-year population. GNI per capita in US dollars is converted using the World Bank Atlas Method.

Country	GNI per capita
Chile	$6,980
Venezuela	$6,070
Uruguay	$5,310
Argentina	$5,150
Brazil	$4,730
Suriname	$3,200
Peru	$2,920
Ecuador	$2,840
Colombia	$2,740
Paraguay	$1,400
Guyana	$1,130
Bolivia	$1,100
Source: World Bankhttp://siteresources.worldbank.org/DATASTATISTICS/Resources/GNIPC.pdf

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.

Rank in world	Country	External Debt
26	Brazil	$230.3 billion
33	Argentina	$118.0 billion
47	Chile	$49.18 billion
48	Venezuela	$45.44 billion
49	Colombia	$43.30 billion
63	Peru	$27.81 billion
72	Ecuador	$17.56 billion
78	Uruguay	$12.0 billion
108	Bolivia	$3.80 billion
111	Paraguay	$3.632 billion
151	Guyana	$1.2 billion (2002 est.)
164	Suriname	$504.3 million (2005 est.)
Source: CIA World Factbookhttps://www.cia.gov/library/publications/the-world-factbook/rankorder/2079rank.html

Unemployment rate (lowest to highest)

Rank in world	Country	Unemployment rate (%)
82	Chile	7.00
89	Peru	7.40
97	Bolivia	8.00
106	Argentina	8.90
108	Venezuela	9.10
110	Uruguay	9.20
113	Suriname	9.50
116	Brazil	9.80
117	Ecuador	9.80
123	Colombia	10.60
129	Paraguay	11.40
N/A	Guyana	-
Source: CIA World Factbookhttps://www.cia.gov/library/publications/the-world-factbook/rankorder/2129rank.html

Poverty line (lowest to highest)

Year of estimate	Country	Population below poverty line (%)
2005	Chile	18.2
2007	Argentina	23.4
2006	Uruguay	27.37
2005	Brazil	31
2005	Paraguay	32
2005	Venezuela	37.9
2006	Ecuador	38.5
2006	Peru	44.5
2005	Colombia	49.2
2006	Bolivia	60
2002	Suriname	70
N/A	Guyana	-
Source: CIA World Factbookhttps://www.cia.gov/library/publications/the-world-factbook/fields/2046.html

Public debt (lowest to highest)

• Refers to what is owed by the combined public sector to both domestic and foreign creditors.

Country	Public debt (%)
Chile	3.60
Venezuela	27.00
Paraguay	27.10
Peru	29.30
Ecuador	30.40
Brazil	43.90
Colombia	53.90
Bolivia	46.20
Uruguay	53.1
Argentina	59.00
Guyana	N/A
Suriname	N/A
Source: CIA World Factbookhttps://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html

Regional variation

Brazil, Argentina, Colombia, Chile and Peru in this order, have the largest economies in South America, while Argentina, Brazil, 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 (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.

This short section requires expansion.

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 unnamed South American currency and central bank in Brasília.

Country	Currency	1 Euro =	1 USD =	Central bank
Argentina	Argentine peso (ARS)	4.60307	3.13996	Banco Central de la República Argentina [1]
Bolivia	Bolivian boliviano (BOB)	11.0985	7.57080	Banco Central de Bolivia [2]
Brazil	Brazilian real (BRL)	2.58963	1.76650	Banco Central do Brasil [3]
Chile	Chilean peso (CLP)	701.020	478.200	Banco Central de Chile [4]
Colombia	Colombian peso (COP)	2,869.97	1,957.74	Banco de la República [5]
Ecuador	U.S. dollar (USD)	1.46611	1	Federal Reserve [6]
French Guiana	Euro (EUR)	1	0.682078	European Central Bank [7]
Guyana	Guyanese dollar (GYD)	297.547	202.950	Bank of Guyana [8]
Paraguay	Paraguayan guaraní (PYG)	6,802.74	4,640.00	Banco Central del Paraguay [9]
Peru	Peruvian nuevo sol (PEN)	4.32110	2.94732	Banco Central de Reserva del Perú [10]
Suriname	Surinamese dollar (SRD)	4.10543	2.80000	Centrale Bank van Suriname [11]
Uruguay	Uruguayan peso (UYU)	31.1529	21.2470	Banco Central del Uruguay [12]
Venezuela	Venezuelan bolívar fuerte (VEF)	3.14447	2.14460	Banco Central de Venezuela [13]

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

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.

Economy by country

Economy of:

Argentina Bolivia Brazil Chile Colombia

Ecuador French Guiana Guyana Panama Paraguay

Peru Suriname Uruguay Venezuela

References

See also

• South America

v • d • e Member States of the Union of South American Nations
Argentina · Bolivia · Brazil · Chile · Colombia · Ecuador · Guyana · Paraguay · Peru · Suriname · Uruguay · Venezuela

v • d • e Economy of South America
Sovereign states	-->Argentina · Bolivia · Brazil · Chile · Colombia · Ecuador · Guyana · Panama* · Paraguay · Peru · Suriname · Trinidad and Tobago* · Uruguay · Venezuela
Dependencies	-->Aruba* (Netherlands) · Falkland Islands (UK) · French Guiana (France) · Netherlands Antilles* (Netherlands) · South Georgia and the South Sandwich Islands (UK)
* Territories also in or commonly reckoned elsewhere in the Americas (North America).

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