Chile: Globalization star
  • 533DDC2E-983A-47C7-B9F4-A4DA6EAF21DB
    Chile is Latin America’s most globalized major economy.
  • C90D5F7D-247B-4270-B2DA-3544EB390A3B
    Brazil comes in last on the index for another year.
19th November 2013

Chile is the region’s only large economy to make the top 10. Mexico also shines.

Which countries in Latin America are most integrated into the world economy? Which countries are the most dependent on foreign investment or tourism? Which are most dependent on remittances? These are some of the questions the LBC’s ninth annual Latin Globalization Index answers for our readers. The index of 18 countries in Latin Americaassigns each country in Latin America a score based on six factors: the percentage of GDP of imports, exports, foreign direct investment, tourism receipts, remittances, as well as internet penetration.
Panama comes in number one on the list for another year, due largely to their high rate of imports and exports, as well as FDI and tourism. Brazil comes in last place in the index: with a GDP of $2.25 trillion GDP, imports, exports, tourism, and investment – although outpacing levels in other countries – tend to account for a small part of the economy overall. The only major economy to make it to the top 10 is Chile – long lauded as one of the region’s most open economies.
Following Panama in the top three are two other Central American countries: Nicaragua and Honduras. Both are small economies with an outsized dependence on remittances (11 percent of GDP in Nicaragua and 16 percent in Honduras) and tourism, as well as a large dependence on imports and exports. The index’s top 10 is similarly rounded out by the region’s smaller economies, including Costa Rica, …

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