Latin Globalization Index 2015
Panama maintains its leadership as Latin America's most globalised economy. Photo: Brian Gatwicke/Flickr

Panama maintains its leadership as Latin America's most globalised economy. Photo: Brian Gatwicke/Flickr

1st December 2015

Region continues globalizing
 
Panama remains the region’s most globalized economy, according to Latin Trade’s Latin Globalization Index 2015, a composite index that measures a country’s weight on GDP of its exports, imports, remittances, tourism receipts and foreign direct investment (FDI), as well as its internet penetration rate.  
 
By David Ramirez
 
Overall, Latin Trade’s Globalization Index rose 0.06 points, to 12.24 as nations in the region continued to make relative improvements to internationalize their economies, albeit the slowdown of global GDP and foreign trade growth.
 
Panama’s top place in our Globalization Index reflects the country’s position as  Latin America’s leader in terms of exports, FDI and tourism to GDP (60, 11 and 9 percent in 2014). The isthmus nation kept first in the Index compared to 2014, despite reductions in total export and foreign investment receipts (to US$15 billion and US$4.7 billion), together with the cooling of its economic growth rate.
 
Honduras kept second in the Index in hand with the large weight of foreign trade in its economy. At 66 percent, the Central American nation’s imports to GDP ratio is the biggest in the region. The country also holds Latin America’s record share of remittances to GDP, at 17 percent last year. Remittances reached US$3.4 billion in 2014, nearly 9% up from the previous year, thus completing five straight years of positive growth. 
 
Out of the …

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