Economic history '' (right), built by
Philip II and today the
General Archive of the Indies, next to the
Cathedral of Seville produced massive amounts of silver from a single site in upper Peru. The first image published in Europe.
Pedro Cieza de León, 1553. Before independence from Spain,
international trade was regulated by the royal
Casa de Contratación (House of Trade) based in
Seville. Inter-regional trade was severely limited with merchants based in Spain and with overseas connections in the main colonial centers controlling the transatlantic trade. Economic thought between 1500 and 1700 was predominantly
mercantilist, such as the
School of Salamanca. This reflected
early modern Europe before the
Industrial Revolution but after the
Renaissance. and the Spanish crown instituted a series of changes in policy in the eighteenth century, known as the
Bourbon Reforms, designed to bring the Spanish America under closer crown control. However, one innovation was
comercio libre ("free commerce"), which was not
free trade as generally understood, but allowed all Spanish and Spanish American ports to be accessible to each other, excluding foreign traders, in a move to stimulate economic activity yet maintain crown control. At independence in the early nineteenth century, Spanish America and Brazil had no foreign investment or direct, legal contact with economic partners beyond those allowed within controlled trade. Unlike the later
East India Companies, which were chartered companies established by the
Dutch,
English, and others, the
Casa collected all colonial taxes and duties, approved all voyages of exploration and trade, maintained secret information on trade routes and new discoveries, licensed captains, and administered
commercial law. In the period before the 18th century, Latin America's economy was larger than that of
British America, and had a similar level of development. The English and
French colonies in North America had a temperate climate and no major indigenous populations whose labor could be exploited. France was developing
Colbertism in the 17th century, during the reign of
Louis XIV, which would later evolve into
Dirigisme. The Southern United States used plantation agriculture and had large black slave populations, sharing more characteristics with Brazil and the Caribbean than the northern English colonies. The main difference with Latin America is that the southern English colonies are predominantly Protestant to this day, forming a "
Bible Belt," rather than Catholic. The northern English colonies were characterized by the family farm, with a homogeneous European-descent population and a much less sharp divide between rich and poor. Unlike Spanish America and Brazil which restricted immigration, the northern English colonies were a magnet for migration, encouraged by the British crown.
Size • Brazil is the world's largest producer of sugarcane, soy, coffee, oranges,
guaraná,
açaí and
Brazil nut; is one of the top five producers of maize,
papaya, tobacco,
pineapple, banana, cotton,
beans,
coconut,
watermelon, lemon and
yerba mate; is one of the top ten world producers of
cocoa,
cashew,
avocado,
tangerine,
persimmon,
mango,
guava, rice,
oat,
sorghum and tomato; and is one of the top 15 world producers of grapes, apples, melons, peanuts,
figs,
peaches, onions,
palm oil and
natural rubber. • Argentina is the world's largest producer of
yerba mate; is one of the five largest producers in the world of soy, maize,
sunflower seeds, lemons and pears, one of the 10 largest producers in the world of
barley, grapes,
artichokes, tobacco and cotton, and one of the 15 largest producers in the world of wheat,
oats,
chickpeas, sugarcane,
sorghum and
grapefruit. • Chile is one of the five largest world producers of
cherries and
cranberries, and one of the ten largest world producers of grapes, apples,
kiwi, peaches,
plums and
hazelnuts, focusing on exporting high-value fruits. • Colombia is one of the five largest producers in the world of coffee,
avocados and palm oil, and one of the ten largest producers in the world of sugarcane, bananas,
pineapples and
cocoa. It is the main producer of
Coca, an illegal plant that is the main ingredient in
Cocaine • Peru is the world's largest producer of
quinoa; is one of the five largest producers of avocados,
blueberry,
artichokes and
asparagus; one of the ten largest producers in the world of coffee and
cocoa; one of the 15 largest producers in the world of potatoes and pineapples, and also has a large production of grapes, sugarcane, rice, bananas, maize and
cassava; its agriculture is considerably diversified. • Paraguay is currently the 6th largest producer of soy in the world and entering the list of the 20 largest producers of maize and sugarcane. In Central America, the following stand out: • Guatemala is one of the ten largest producers in the world of coffee, sugar cane, melons and
natural rubber, and one of the world's 15 largest producers of bananas and
palm oil. • Honduras is one of the five largest producers of coffee in the world, and one of the ten largest producers of
palm oil. • Costa Rica is the world's largest producer of pineapples. • Dominican Republic is one of the world's top five producers of
papayas and avocados, and one of the ten largest producers of
cocoa. • Mexico is the world's largest producer of avocados, one of the world's top five producers of
Chile, lemons, oranges, mangos, papayas,
strawberries, grapefruit, pumpkins and asparagus, and one of the world's 10 largest producers of sugar cane, maize,
sorghum,
beans, tomatoes,
coconuts, pineapple, melons and blueberries. Brazil is the world's largest exporter of
chicken meat: 3.77 million tons in 2019. The country had the second largest herd of cattle in the world, 22.2% of the world herd. The country was the second largest producer of beef in 2019, responsible for 15.4% of global production. It was also the third largest world producer of milk in 2018. This year, the country produced 35.1 billion liters. In 2019, Brazil was the fourth largest pork producer in the world, with almost four million tons. In 2018, Argentina was the fourth largest producer of beef in the world, with a production of 3 million tons (behind only United States, Brazil and China). Uruguay is also a major meat producer. In 2018, it produced 589 thousand tons of beef. In the production of
chicken meat, Mexico is among the ten largest producers in the world, Argentina among the 15 largest and Peru and Colombia among the 20 largest. In beef production, Mexico is one of the ten largest producers in the world and Colombia is one of the 20 largest producers. In the production of pork, Mexico is among the 15 largest producers in the world. In the production of
honey, Argentina is among the five largest producers in the world, Mexico among the ten largest and Brazil among the 15 largest. In terms of
cow's milk production, Mexico is among the 15 largest producers in the world and Argentina among the 20 largest.
Mining and petroleum ,
Potosi, Bolivia, still a major mine Mining is one of the most important economic sectors in Latin America, especially for
Chile,
Peru and
Bolivia, whose economies are highly dependent on this sector. The continent has large productions of: • Gold (mainly in
Peru, Mexico,
Brazil and Argentina); • Silver (mainly in Mexico, Peru, Chile, Bolivia and Argentina); • Copper (mainly in
Chile,
Peru, Mexico and Brazil); • Iron ore (Brazil, Peru and
Chile); •
Zinc (Peru, Mexico, Bolivia and Brazil); •
Molybdenum (Chile, Peru and Mexico); •
Lithium (
Chile, Argentina and Brazil); • Lead (Peru, Mexico and Bolivia); •
Bauxite (Brazil and Jamaica); •
Tin (Peru, Bolivia and Brazil); •
Manganese (Brazil and Mexico); •
Antimony (Bolivia, Mexico, Guatemala and Ecuador); •
Nickel (Brazil, Dominican Republic and Cuba); •
Niobium (Brazil); •
Rhenium (Chile); •
Iodine (
Chile), Brazil stands out in the extraction of • Iron ore (where it is the 2nd largest producer and exporter in the world—iron ore is usually one of the three export products that generate the greatest value in the country's
trade balance) • Copper • Gold •
Bauxite (one of the five largest producers in the world) •
Manganese (one of the five largest producers in the world) •
Tin (one of the largest producers in the world) •
Niobium (98% of known world reserves) and •
Nickel In terms of gemstones, Brazil is the world's largest producer of
amethysts,
topaz, and
agates and one of the main producers of
tourmaline, emeralds,
aquamarines,
garnets and
opals. Chile contributes about a third of the world's copper production. In addition, Chile was, in 2019, the world's largest producer of iodine and
rhenium, the second largest producer of
lithium and
molybdenum, the seventh largest producer of salt, the eighth largest producer of
potash, the thirteenth-largest producer of
sulfur and the thirteenth largest producer of iron ore in the world. In 2019, Peru was the second largest world producer of copper and silver, third largest world producer of lead, fourth largest world producer of
tin, fifth largest world producer of
boron, and fourth largest world producer of molybdenum. fifth largest world producer of
tin; seventh largest producer of
zinc, and the eighth largest producer of lead. In 2019, Mexico was the world's largest producer of silver ninth largest producer of gold, the world's fifth largest producer of
bismuth, the world's 13th largest producer of
manganese and the 23rd largest world producer of
phosphate. It is also the eighth largest world producer of
salt. In the production of gold, between 2006 and 2017, the country produced 15 tons per year until 2007, when its production increased significantly, breaking a record of 66.1 tons extracted in 2012. In 2017, it extracted 52.2 tons. The country is among the 25 largest gold producers in the world. In the production of silver, in 2017 the country extracted 15,5 tons. In the production of
oil, Brazil was the tenth largest oil producer in the world in 2019, with 2.8 million barrels a day. Mexico was the twelfth largest, with 2.1 million barrels a day, Colombia in 20th place with 886 thousand barrels a day, Venezuela was the twenty-first place, with 877 thousand barrels a day, Ecuador in 28th with 531 thousand barrels a day and Argentina. 29th with 507 thousand barrels a day. Since Venezuela and Ecuador consume little oil and export most of their production, they are part of
OPEC. Venezuela had a big drop in production after 2015 (when it produced 2.5 million barrels a day), falling in 2016 to 2.2 million, in 2017 to 2 million, in 2018 to 1.4 million and in 2019 to 877 thousand, due to lack of investment. In the production of natural gas, in 2018, Argentina produced 1,524 bcf (billions of cubic feet), Mexico produced 999, Venezuela 946, Brazil 877, Bolivia 617, Peru 451, Colombia 379. In the production of coal, the continent had three of the 30 largest world producers in 2018: Colombia (12th), Mexico (24th) and Brazil (27th).
Manufacturing , the largest Brazilian chemical industry , the largest Brazilian pharmaceutical industry , Argentina. The
World Bank annually lists the top manufacturing countries by total manufacturing value. According to the 2019 list: • Mexico had the twelfth most valuable industry in the world (US$217.8 billion) • Brazil the thirteenth largest (US$173.6 billion) • Venezuela the thirtieth largest (US$58.2 billion, however, it depends on oil to reach this value) • Argentina the 31st largest (US$57.7 billion) • Colombia the 46th largest (US$35.4 billion) • Peru the 50th largest (US$28.7 billion) • Chile the 51st largest (US$28.3 billion). In Latin America, few countries stand out in industrial activity: Brazil, Argentina, Mexico and, less prominently, Chile. Begun late, the industrialization of these countries received a great boost from World War II: this prevented the countries at war from buying the products they were used to importing and exporting what they produced. At that time, benefiting from the abundant local raw material, the low wages paid to the labor force and a certain specialization brought by immigrants, countries such as Brazil, Mexico and Argentina, as well as Venezuela, Chile, Colombia and Peru, were able to implement important industrial parks. In general, in these countries there are industries that require little capital and simple technology for their installation, such as the food processing and textile industries. The basic industries (steel, etc.) also stand out, as well as the metallurgical and mechanical industries. The industrial parks of Brazil, Mexico, Argentina and Chile, however, present much greater diversity and sophistication, producing advanced technology items. In the rest of Latin American countries, mainly in Central America, the processing industries of primary products for export predominate. In the
food industry, in 2019, Brazil was the second largest exporter of processed foods in the world. In 2016, the country was the second largest producer of
pulp in the world and the eighth largest producer of paper. In the
footwear industry, in 2019, Brazil ranked fourth among world producers. In 2019, the country was the eighth largest producer of
vehicles and the ninth largest producer of steel in the world. In 2018, the
chemical industry of Brazil was the eighth largest in the world. In the
textile industry, Brazil, although it was among the five largest world producers in 2013, is very little integrated into world trade. In the aviation sector, Brazil has
Embraer, the third largest aircraft manufacturer in the world, behind
Boeing and
Airbus.
Infrastructure ; New
Agua Clara locks (Atlantic side) Transport in Latin America is basically carried out using the road mode, the most developed in the region. There is also a considerable infrastructure of
ports and
airports. The railway and
fluvial sector, although it has potential, is usually treated in a secondary way. Brazil has more than 1.7 million km of
roads, of which 215,000 km are paved, and about 14,000 km are
divided highways. The two most important highways in the country are
BR-101 and
BR-116. Argentina has more than 600,000 km of roads, of which about 70,000 km are paved, and about 2,500 km are divided highways. The three most important highways in the country are
Route 9,
Route 7 and
Route 14. Chile has about 82,000 km of roads, 20,000 km of which are paved, and about 2,000 km are divided highways. The most important highway in the country is the
Route 5 (
Pan-American Highway) These 4 countries are the ones with the most developed road infrastructure and with the largest number of double-lane highways, in South America. The roadway network in Mexico has an extent of , of which are paved, Of these, are multi-lane
expressways: are four-lane highways and the rest have 6 or more lanes. There are 1,580 airports in Mexico, the fourth-largest number of airports by country in the world. The seven largest airports—which absorb 90% of air travel—are (in order of air traffic):
Mexico City,
Cancún,
Guadalajara,
Monterrey,
Tijuana,
Acapulco, and
Puerto Vallarta. Considering all of Latin America, the 10 busiest airports in 2024 were: Bogotá (Colombia), Mexico City (Mexico), São Paulo-Guarulhos (Brazil), Cancún (Mexico), Santiago (Chile), Lima (Peru), São Paulo-Congonhas (Brazil), Tocumen (Panama), Guadalajara (Mexico) and Brasilia (Brazil). About
ports, Brazil has some of the busiest ports in South America, such as
Port of Santos,
Port of Rio de Janeiro,
Port of Paranaguá,
Port of Itajaí,
Port of Rio Grande,
Port of São Francisco do Sul and
Suape Port. Argentina has ports such as
Port of Buenos Aires and
Port of Rosario. Chile has important ports in
Valparaíso,
Caldera,
Mejillones,
Antofagasta,
Iquique,
Arica and
Puerto Montt. Colombia has important ports such as
Buenaventura,
Cartagena Container Terminal and
Puerto Bolivar. Peru has important ports in
Callao,
Ilo and
Matarani. The 15 busiest ports in South America are: Port of Santos (Brazil), Port of Bahia de Cartagena (Colombia), Callao (Peru), Guayaquil (Ecuador), Buenos Aires (Argentina), San Antonio (Chile), Buenaventura (Colombia), Itajaí (Brazil), Valparaíso (Chile), Montevideo (Uruguay), Paranaguá (Brazil), Rio Grande (Brazil), São Francisco do Sul (Brazil), Manaus (Brazil) and Coronel (Chile). The four major seaports concentrating around 60% of the merchandise traffic in Mexico are
Altamira and
Veracruz in the
Gulf of Mexico, and
Manzanillo and
Lázaro Cárdenas in the Pacific Ocean. Considering all of Latin America, the 10 largest ports in terms of movement are: Colon (Panama), Santos (Brazil), Manzanillo (Mexico), Bahia de Cartagena (Colombia), Pacifico (Panama), Callao (Peru), Guayaquil (Ecuador), Buenos Aires (Argentina), San Antonio (Chile) and Buenaventura (Colombia). The
Argentine rail network, with 47,000 km of tracks, was one of the largest in the world and continues to be the most extensive in Latin America. It came to have about 100,000 km of rails, but the lifting of tracks and the emphasis placed on motor transport gradually reduced it. It has four different trails and international connections with Paraguay, Bolivia, Chile, Brazil and Uruguay.
Chile has almost 7,000 km of railways, with connections to Argentina, Bolivia and Peru.
Colombia has only about 3,500 km of railways. Among the main Brazilian
waterways, two stand out:
Hidrovia Tietê-Paraná (which has a length of 2,400 km, 1,600 on the Paraná River and 800 km on the Tietê River, draining agricultural production from the states of Mato Grosso, Mato Grosso do Sul, Goiás and part of Rondônia, Tocantins and Minas General) and
Hidrovia do Solimões-Amazonas (it has two sections: Solimões, which extends from Tabatinga to Manaus, with approximately 1600 km, and Amazonas, which extends from Manaus to Belém, with 1650 km. Almost entirely passenger transport from the Amazon plain is done by this waterway, in addition to practically all cargo transportation that is directed to the major regional centers of Belém and Manaus). In Brazil, this transport is still underutilized: the most important waterway stretches, from an economic point of view, are found in the Southeast and South of the country. Its full use still depends on the construction of locks, major dredging works and, mainly, of ports that allow intermodal integration. In Argentina, the waterway network is made up of the La Plata, Paraná, Paraguay and Uruguay rivers. The main river ports are
Zárate and
Campana. The port of Buenos Aires is historically the first in individual importance, but the area known as Up-River, which stretches along 67 km of the Santa Fé portion of the Paraná River, brings together 17 ports that concentrate 50% of the total exports of the country.
Energy As of 2023, Latin America and the Caribbean generates 60% of its electricity from
renewable energy – double the global average of 30%. Despite this, fossil fuels still play a substantial role, especially in transportation and industry, with oil and gas constituting a notable portion. Approximately two-thirds of the region's
energy mix comes from fossil fuels, Of the region's total energy production, 43% is
hydroelectric, 8%
wind and 6% is
solar.
Brazil in Paraná in
Parnaíba in
Angra dos Reis, Rio de Janeiro , the largest in Brazil and Latin America with a capacity of 321 MW The Brazilian government has undertaken an ambitious program to reduce dependence on imported petroleum. Imports previously accounted for more than 70% of the country's oil needs but Brazil became self-sufficient in oil in 2006–2007. Brazil was the 10th largest oil producer in the world in 2019, with 2.8 million barrels / day. Production manages to supply the country's demand. Brazil is one of the main world producers of
hydroelectric power. In 2019, Brazil had 217 hydroelectric plants in operation, with an installed capacity of 98,581 MW, 60.16% of the country's energy generation. In the total generation of electricity, in 2019 Brazil reached 170,000 megawatts of installed capacity, more than 75% from renewable sources (the majority, hydroelectric). In 2013, the
Southeast Region used about 50% of the load of the National Integrated System (SIN), being the main energy consuming region in the country. The region's installed electricity generation capacity totaled almost 42,500 MW, which represented about a third of Brazil's generation capacity. The
hydroelectric generation represented 58% of the region's installed capacity, with the remaining 42% corresponding basically to the
thermoelectric generation. São Paulo accounted for 40% of this capacity; Minas Gerais by about 25%; Rio de Janeiro by 13.3%; and Espírito Santo accounted for the rest. The
South Region owns the
Itaipu Dam, which was the largest hydroelectric plant in the world for several years, until the inauguration of
Three Gorges Dam in China. It remains the second largest operating hydroelectric in the world. Brazil is the co-owner of the Itaipu Plant with Paraguay: the dam is located on the
Paraná River, located on the border between countries. It has an installed generation capacity of 14 GW for 20 generating units of 700 MW each.
North Region has large hydroelectric plants, such as
Belo Monte Dam and
Tucuruí Dam, which produce much of the national energy. Brazil's hydroelectric potential has not yet been fully exploited, so the country still has the capacity to build several renewable energy plants in its territory. according to ONS, total installed capacity of
wind power was 22 GW, with average
capacity factor of 58%. While the world average wind production capacity factors is 24.7%, there are areas in Northern Brazil, specially in Bahia State, where some wind farms record with average capacity factors over 60%; In 2019, wind energy represented 9% of the energy generated in the country. In 2019, it was estimated that the country had an estimated wind power generation potential of around 522 GW (this, only onshore), enough energy to meet three times the country's current demand. In 2021 Brazil was the 7th country in the world in terms of installed wind power (21 GW), and the 4th largest producer of wind energy in the world (72 TWh), behind only China, USA and Germany. Nuclear energy accounts for about 4% of Brazil's electricity. The nuclear power generation monopoly is owned by
Eletronuclear (Eletrobrás Eletronuclear S/A), a wholly owned subsidiary of
Eletrobrás. Nuclear energy is produced by
two reactors at
Angra. It is located at the Central Nuclear Almirante Álvaro Alberto (CNAAA) on the Praia de Itaorna in
Angra dos Reis, Rio de Janeiro. It consists of two
pressurized water reactors, Angra I, with capacity of 657 MW, connected to the power grid in 1982, and Angra II, with capacity of 1,350 MW, connected in 2000. A third reactor, Angra III, with a projected output of 1,350 MW, is planned to be finished. according to ONS, total installed capacity of
photovoltaic solar was 21 GW, with average
capacity factor of 23%. Some of the most
irradiated Brazilian States are MG ("Minas Gerais"), BA ("Bahia") and GO ("Goiás"), which have indeed world irradiation level records. In 2019, solar power represented 1.27% of the energy generated in the country. and the 11th largest producer of solar energy in the world (16.8 TWh).
Other countries After Brazil, Mexico is the country in Latin America that most stands out in energy production. In 2020, the country was the 14th largest petroleum producer in the world, and in 2018 it was the 12th largest exporter. In natural gas, the country was, in 2015, the 21st largest producer in the world, and in 2007 it was the 29th largest exporter. Mexico was also the world's 24th largest producer of coal in 2018. In renewable energies, in 2020, the country ranked 14th in the world in terms of installed wind energy (8.1 GW), 20th in the world in terms of installed solar energy (5.6 GW) and 19th in the world in terms of installed hydroelectric power (12.6 GW). In third place, Colombia stands out: In 2020, the country was the 20th largest petroleum producer in the world, and in 2015 it was the 19th largest exporter. In natural gas, the country was, in 2015, the 40th largest producer in the world. Colombia's biggest highlight is in coal, where the country was, in 2018, the world's 12th largest producer and the 5th largest exporter. In renewable energies, in 2020, the country ranked 45th in the world in terms of installed wind energy (0.5 GW), 76th in the world in terms of installed solar energy (0.1 GW) and 20th in the world in terms of installed hydroelectric power (12.6 GW). Venezuela, which was one of the world's largest oil producers (about 2.5 million barrels/day in 2015) and one of the largest exporters, due to its political problems, has had its production drastically reduced in recent years: in 2016, it dropped to 2.2 million, in 2017 to 2 million, in 2018 to 1.4 million and in 2019 to 877 thousand, reaching only 300,000 barrels/day at a given point. The country also stands out in hydroelectricity, where it was the 14th country in the world in terms of installed capacity in 2020 (16,5 GW).
headquarters in Buenos Aires, Argentina. Argentina was, in 2017, the 18th largest producer in the world, and the largest producer in Latin America, of natural gas, in addition to being the 28th largest oil producer; although the country has the Vaca Muerta field, which holds close to 16 billion barrels of technically recoverable shale oil, and is the second largest shale natural gas deposit in the world, the country lacks the capacity to exploit the deposit: it is necessary capital, technology and knowledge that can only come from offshore energy companies, who view Argentina and its erratic economic policies with considerable suspicion, not wanting to invest in the country. In renewable energies, in 2020, the country ranked 27th in the world in terms of installed wind energy (2.6 GW), 42nd in the world in terms of installed solar energy (0.7 GW) and 21st in the world in terms of installed hydroelectric power (11.3 GW). The country has great future potential for the production of wind energy in the Patagonia region. Chile, although currently not a major energy producer, has great future potential for solar energy production in the Atacama Desert region. Paraguay stands out today in hydroelectric production thanks to the Itaipu Power Plant. Trinidad and Tobago and Bolivia stand out in the production of natural gas, where they were, respectively, the 20th and 31st largest in the world in 2015. Ecuador, because it consumes little energy, is part of OPEC and was the 27th largest oil producer in the world in 2020, being the 22nd largest exporter in 2014. Mexico is the only Latin American country to be ranked in the top 10 worldwide in the number of tourist visits. It received by far the largest number of international tourists, with 39.3 million visitors in 2017, followed by Argentina, with 6.7 million; then Brazil, with 6.6 million; Chile, with 6.5 million; Dominican Republic, with 6.2 million; Cuba with 4.3 million; Peru and Colombia with 4.0 million. The
World Tourism Organization reports the following destinations as the top six tourism earners for the year 2017: Mexico, with US$21,333 million; the Dominican Republic, with US$7,178 million; Brazil, with US$6,024 million; Colombia, with US$4,773 million; Argentina, with US$4,687 million; and Panama, with US$4,258 million. ,
Argentine Patagonia Places such as
Cancún,
Riviera Maya,
Chichen Itza,
Cabo San Lucas, Mexico City,
Acapulco,
Puerto Vallarta,
Guanajuato City,
San Miguel de Allende,
Guadalajara in Mexico,
Punta Cana,
Santo Domingo in Dominican Republic,
Punta del Este in Uruguay,
San Juan,
Ponce in Puerto Rico, Panama City in Panama,
Poás Volcano National Park in Costa Rica,
Viña del Mar in Chile,
Rio de Janeiro,
Florianópolis,
Iguazu Falls, São Paulo,
Armação dos Búzios,
Salvador,
Bombinhas,
Angra dos Reis,
Balneário Camboriú,
Paraty,
Ipojuca,
Natal,
Cairu,
Fortaleza and
Itapema in Brazil;
Buenos Aires,
Bariloche,
Salta,
Jujuy,
Perito Moreno Glacier,
Valdes Peninsula,
Guarani Jesuit Missions in the cities of Misiones and Corrientes,
Ischigualasto Provincial Park,
Ushuaia and
Patagonia in Argentina;
Isla Margarita,
Angel Falls,
Los Roques archipelago,
Gran Sabana in Venezuela;
Machu Picchu, Lima,
Nazca Lines,
Cuzco in Peru;
Lake Titicaca,
Salar de Uyuni, La Paz,
Jesuit Missions of Chiquitos in Bolivia;
Tayrona National Natural Park,
Santa Marta,
Bogotá,
Cali,
Medellín,
Cartagena,
San Andrés in Colombia, and the
Galápagos Islands in Ecuador are popular among international visitors in the region.
Trade blocs ,
Evo Morales,
Néstor Kirchner,
Cristina Fernández,
Luiz Inácio Lula da Silva,
Nicanor Duarte, and
Hugo Chávez at the signing of the founding charter of the
Bank of the South The major
trade blocs (or
agreements) in the region are the
Pacific Alliance and
Mercosur. Minor blocs or trade agreements are the
G3 Free Trade Agreement, the
Dominican Republic – Central America Free Trade Agreement (DR-CAFTA), the
Caribbean Community (CARICOM) and the
Andean Community of Nations (CAN). However, major reconfigurations are taking place along opposing approaches to integration and trade; Venezuela has officially withdrawn from both the CAN and G3 and it has been formally admitted into the Mercosur (pending ratification from the Paraguayan legislature). The president-elect of Ecuador has manifested his intentions of following the same path. This bloc nominally opposes any Free Trade Agreement (FTA) with the United States, although Uruguay has manifested its intention otherwise. Chile, Peru, Colombia and Mexico are the only four Latin American nations that have an FTA with the United States and Canada, both members of the
North American Free Trade Agreement (NAFTA).
China China's economic influence in Latin America increased substantially in the 21st century. Imports from China valued $8.3 billion in 2000, but by 2022 its value was $450 billion and had grown to be the largest trading partner of South America, as well as the second-largest for the broader Latin America. In particular, many of the investments are related to the
Belt and Road Initiative or energy. China has also provided loans to several Latin American countries; this has raised concerns about the possibility of debt traps." ==Inequality==