Economy of the Americas

Economy of the Americas
Statistics
Population 953.7 million (13.6% of the world)
GDP $20.971 trillion [1]
GDP growth
 Per capita: 3%
GDP per capita
 Currency: US$21,989[1]
3.75 million
Unemployment 10%
Top 10% income
 38%

Through merging of North America and South America information


All values, unless otherwise stated, are in US dollars.

The economy of the Americas comprises more than 953 million people in 35 different countries and 18 territories. Sometimes divided into the continents of North America and South America depending on the source, like other continents, the wealth of the states in the Americas varies, although the poorest are well above the poorest states of other continents in terms of GDP and living standards. The difference in wealth across the Americas can be seen roughly between the economies of North America and South America, with the countries in the former significantly better off than those in the latter.

Regional variation

Economic Integration

Asia-Pacific Economic Cooperation

The Asia-Pacific Economic Cooperation (APEC) is a group of Pacific Rim countries which meet with the purpose of improving economic and political ties. APEC's stated goals are aimed at free and open trade and investments by cutting tariffs between zero and five percent in the Asia-Pacific area for industrialised economies by 2010 and for developing economies by 2020.

The organisation has members from four continents, those from North America are Canada, Mexico and the United States.

Caribbean Community

The Caribbean Community (CARICOM) was created "To provide dynamic leadership and service, in partnership with Community institutions and Groups, toward the attainment of a viable, internationally competitive and sustainable Community, with improved quality of life for all".

- On January 1, 2006 six members: (Barbados, Belize, Guyana, Jamaica, Suriname and Trinidad and Tobago) unofficially ushered in the Caribbean (CARICOM) Single Market and Economy (CSME).

- At the official signing of the protocol on January 30, 2006 in Jamaica, A further six members: (Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia and Saint Vincent and the Grenadines) announced their intention to join by the second quarter of 2006. Montserrat, a British Oversees territory is awaiting approval by the United Kingdom. Haiti and the Bahamas have no immediate plans to join.

Central American Free Trade Agreement

The Central American Free Trade Agreement (CAFTA) is an agreement between the United States and the Central American countries of Costa Rica, Guatemala, El Salvador, Honduras, and Nicaragua. The treaty is aimed at promoting free trade between its members. Canada and Mexico are negotiating membership.

North American Free Trade Agreement

The North American Free Trade Agreement (NAFTA) is an agreement between Canada, Mexico and the United States to eliminate tariffs on goods traded between themselves.

Although currently only a trade agreement, with no supranational bodies or laws as in the European Union, there have been various proposals to move towards a customs union or a North American currency union. It is unknown whether or not this may eventually develop into a North American Union similar to that of Europe.

Currency and Central Banks

Below is a list of the currencies of North America, with exchange rates between each currency and both the euro and US dollars as of 12 April 2008. This list may vary as it is not current.

Country Currency worth in euro worth in USD Central bank
Antigua and Barbuda EC dollar 0.24 0.38 Eastern Caribbean Central Bank
Argentina Argentine peso 0.24 0.38 Central Bank of Argentina
Bahamas Bahamian dollar 0.63 1.00 Central Bank of the Bahamas
Barbados Barbadian dollar 0.32 0.50 Central Bank of Barbados
Belize Belizean dollar 0.32 0.51 Central Bank of Belize
Bolivia Bolivian boliviano 0.32 0.51 Central Bank of Bolivia
Brazil Brazilian real 0.32 0.51 Central Bank of Brazil
Canada Canadian dollar 0.62 0.98 Bank of Canada
Chile Chilean peso 0.62 0.98 Central Bank of Chile
Colombia Colombian peso 0.62 0.98 Bank of the Republic
Costa Rica Colón 0.001 0.002 Central Bank of Costa Rica
Cuba Cuban convertible peso 0.847 1.08 Central Bank of Cuba
Cuban peso 0.030 0.038
Dominica EC dollar 0.24 0.38 Eastern Caribbean Central Bank
Dominican Republic Dominican Republic Peso 0.02 0.03 Central Bank of the Dominican Republic
Ecuador US dollar 0.63 1.00 Central Bank of Ecuador
El Salvador US dollar 0.63 1.00 Central Reserve Bank of El Salvador
Greenland Danish krone 0.13 0.19 Denmark's National Bank
Grenada EC dollar 0.24 0.38 Eastern Caribbean Central Bank
Guatemala Quetzal 0.08 0.13 Bank of Guatemala
Guyana Guyanese dollar 0.08 0.13 Bank of Guyana
Haiti Gourde 0.02 0.03 Central Bank of Haiti
Honduras Lempira 0.03 0.05 Central Bank of Honduras
Jamaica Jamaican dollar 0.009 0.01 Bank of Jamaica
Mexico Mexican peso 0.06 0.09 Bank of Mexico
Nicaragua Córdoba 0.03 0.05 Central Bank of Nicaragua
Panama Balboa 0.63 1.00 National Bank of Panama
Paraguay Paraguayan guaraní 0.63 1.00 Central Bank of Paraguay
Peru Peruvian nuevo sol 0.63 1.00 Bank of the Nation
Saint Kitts and Nevis EC dollar 0.24 0.38 Eastern Caribbean Central Bank
Saint Lucia EC dollar 0.24 0.38 Eastern Caribbean Central Bank
Saint Vincent and the Grenadines EC dollar 0.24 0.38 Eastern Caribbean Central Bank
Suriname Surinamese dollar 0.24 0.38 Central Bank of Suriname
Trinidad and Tobago Trinidad and Tobago dollar 0.10 0.16 Central Bank of Trinidad and Tobago
Uruguay Uruguayan peso 0.75 1.00 Central Bank of Uruguay
United States US dollar 0.75 1.00 Federal Reserve System
Venezuela Venezuelan bolívar 0.75 1.00 Central Bank of Venezuela

Table correct as of 12 April 2008

Global trade relations

The bulk of the American trade is done internally, between North America and South America, and also with Europe and China.

See also

Trade of the Americas:

Statistics:

General:

Notes and references

References
  1. 1 2 "The World Factbook". Central Intelligence Agency. 2013. Retrieved 2013-09-30.
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