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The economy of Central America is the eleventh-largest economy in Latin America, behind Brazil, Mexico, Argentina and Colombia. According to the World Bank , the nominal GDP of Central America reached 204 billion US dollar in 2010, as recovery from the crisis of 2009 , where gross domestic product (GDP) suffered a decline to 3.8%. [ 1 ]
Cuba is not included in the list due to lack of economic data. Of the countries listed, some are not independent: Aruba is a constituent country of the Kingdom of the Netherlands, and Puerto Rico is a United States territory with special status and thus is measured separately from the U.S. by the World Economic Outlook.
The first list includes estimates compiled by the International Monetary Fund's World Economic Outlook, the second list shows the World Bank's data, and the third list includes data compiled by the United Nations Statistics Division. The IMF's definitive data for the past year and estimates for the current year are published twice a year in ...
For starters, Nicaragua is now one of the safest countries in Central America, with a homicide rate of 7 per 100,000 -- the U.S. clocks in at 7.8, per the CDC. In terms of lifestyle, Nicaragua can ...
The Latin American economy is an export-based economy consisting of individual countries in the geographical regions of North America, Central America, South America, and the Caribbean. The socioeconomic patterns of what is now called Latin America were set in the colonial era when the region was controlled by the Spanish and Portuguese empires.
In recent years, under the administrations of Daniel Ortega, the Nicaraguan economy has expanded somewhat, following the Great Recession, when the country's economy actually contracted by 1.5%, due to decreased export demand in the American and Central American markets, lower commodity prices for key agricultural exports, and low remittance growth.
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The report noted that the economic expansion following the Second World War is critical to understanding the historical roots of the crisis that Central America faced during the 1970s and 1980s, after the region's economy nearly collapsed from the inability to adjust to international structural changes. While the region averaged unprecedented ...