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Latin American Globalization Index 2005

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Originally published by Latin Business Chronicle in October 2005.

Panama is Latin America's most globalized economy, followed by the Dominican Republic, the
Latin American Globalization Index shows.  
    The index, developed by
Latin Business Chronicle, looks at six key indicators to rank globalization. These include 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 and Internet penetration.
    Argentina ended last due to low levels of trade and foreign direct investment.
    In terms of trade groups, the CAFTA countries did best (accounting for four of the top seven ranks), while the Andean and Mercosur countries did
worst.
    Among the surprises: Chile did
not score higher than fifth place, while the Dominican Republic came in second and Honduras fourth.

 

LATIN AMERICAN GLOBALIZATION INDEX
Rank, country and score
1Panama14.46
2Dom. Rep13.54
3Costa Rica12.99
4Honduras11.20
5Chile10.62
6Nicaragua9.77
7El Salvador9.53
8Uruguay8.59
9Mexico8.19
10Paraguay7.59
11Ecuador7.36
12Guatemala6.47
13Venezuela6.43
14Brazil5.56
15Colombia5.55
16Peru5.55
17Argentina5.53

Source:
Latin American
Globalization Index 2005,
© Latin Business Chronicle

The index was released in October 2005 and did not include Bolivia or  Haiti, which lacked the necessary data. Subsequently, the data has become available and shows that if they were to be included, they would rank 8th and 13th, respectively. 

Latin American Globalization Index
Scores for each category. For details on methodology and sources, see below.
 ExportsImportsFDITourism receiptsRemittancesInternet penetration
Argentina2.41.50.120.170.021.32
Brazil2.21.70.300.050.091.22
Chile3.83.10.810.120.002.79
Colombia1.92.10.250.100.400.80
Costa Rica4.64.80.320.760.162.35
Dom. Rep.4.84.70.241.651.240.91
Ecuador3.02.80.400.120.570.47
El Salvador2.64.00.350.211.580.89
Guatemala1.72.80.050.291.020.60
Honduras3.55.10.260.531.490.32
Mexico3.03.20.250.160.241.34
Nicaragua2.24.90.590.021.840.22
Panama6.46.10.340.500.170.95
Paraguay3.03.40.120.100.720.25
Peru2.01.80.210.160.211.17
Uruguay3.02.80.190.410.092.10
Venezuela3.61.80.100.030.020.88


HOW WE DID IT: Methodology and sources


  METHODOLOGY

  We gave a score of 0,1 for each percent. For example, 4.5% resulted in a
  score of 0,45. Each of the six categories was weighed equally.

  SOURCES

  Exports of goods and services as % of GDP
  All figures except Dominican Republic by World Bank,
  World Development Indicators 2005.
  Dominican Republic export figures from Dominican Central Bank and GDP
  figure from IMF World Economic Outlook, April 2005.

  Imports of goods and services as % of GDP
  All figures except Dominican Republic by World Bank,
  World Development Indicators 2005.
  Dominican Republic import figures from Dominican Central Bank and GDP
  figure from IMF World Economic Outlook, April 2005.

  FDI as % of GDP
  La Inversión extranjera en América Latina y el Caribe 2004, United Nations
  Economic Commission for Latin America and the Caribbean, March 2005.
  GDP Figures from IMF World Economic Outlook, April 2005.

  Tourism receipts as % of GDP
  Tourism receipts figures from the World Torism Organisation, World Tourism
  Barometer
, June 2005, except in case of Venezuela, where source was EIU
  Executive Briefing 12 May 2005.
  GDP Figures from IMF World Economic Outlook, April 2005.

  Remittances as % of GDP
  Remittance figures from the Inter-American Development Bank, MIF,
  Migrant Remittances
  GDP Figures from IMF World Economic Outlook, April 2005.

  Internet penetration in 2004
  All figures from the International Telecommunications Union.
 

 

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