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 countrys 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 ...