Brazil: Latin America’s Least Globalized
    13th December 2011

     
    Panama remains most globalized economy in Latin America.
     
    BY JOACHIM BAMRUD
    Brazil has replaced Venezuela as the least globalized country in Latin America, according to the seventh annual Latin Globalization Index from Latin Business Chronicle.The index of 18 countries looks at six factors that measure a country’s links with the outside world:

    Exports of goods and services as a percent of GDP.
    Imports of goods and services as a percent of GDP.
    Foreign direct investment as a percent of GDP.
    Tourism receipts as a percent of GDP.
    Remittances as a percent of GDP.
    Internet penetration.
    The index uses data for the most recent full year, which in this case is 2010, from The World Bank, the United Nations Economic Commission for Latin America and the Caribbean, the International Monetary Fund, the International Telecommunications Union and the Santiago Chamber of Commerce.
     
    LOWEST TRADE LEVELS
    Latin Globalization Index 2011 shows that Brazil continues to have Latin America’s lowest percent of foreign trade as a percent of GDP.
     
    Its exports of goods and services in 2010 were the equivalent of 10.2 percent of its GDP. Meanwhile, imports accounted for only 11.2 percent. Both figures are declines from 2009, despite the fact that both trade grew in 2010. However, it grew less than the economy, which expanded by 7.5 percent – its best result in 25 years.
     
    Brazil also scores low when it comes to tourism receipts and remittances as a …

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