Economy of the Americas

Economy of the Americas

Statistics
Population	1.056 billion (13.6% of the world)
GDP	$33.981 trillion
GDP growth	Per capita: 3%
GDP per capita	Currency: US$23,989
Millionaires (US$)	3.75 million
Unemployment	10%
Through merging of North America and South America information All values, unless otherwise stated, are in US dollars.

The economy of the Americas comprises more than 1 billion people in 35 different countries and 18 territories. Sometimes divided into the continents of North America and South America depending on the source, like other continents, the wealth between the states in the Americas varies considerably, with significant wealth inequality within nations. The difference in wealth across the Americas can be seen roughly between the economies of North America and South America, with the countries in the former (most notably the United States) significantly better off than those in the latter.

Economic development

Main article: Economic history of the Americas

Regional variation

Main articles: Economy of North America and Economy of South America

Economic Integration

Asia-Pacific Economic Cooperation

The Asia-Pacific Economic Cooperation (APEC) is a group of Pacific Rim countries which meet with the purpose of improving economic and political ties. APEC's stated goals are aimed at free and open trade and investments by cutting tariffs between zero and five percent in the Asia-Pacific area for industrialised economies by 2010 and for developing economies by 2020.

The organisation has members from four continents, those from North America are Canada, Mexico and the United States.

Caribbean Community

The Caribbean Community (CARICOM) was created "To provide dynamic leadership and service, in partnership with Community institutions and Groups, toward the attainment of a viable, internationally competitive and sustainable Community, with improved quality of life for all".

- On January 1, 2006 six members: (Barbados, Belize, Guyana, Jamaica, Suriname and Trinidad and Tobago) unofficially ushered in the Caribbean (CARICOM) Single Market and Economy (CSME).

- At the official signing of the protocol on January 30, 2006 in Jamaica, A further six members: (Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia and Saint Vincent and the Grenadines) announced their intention to join by the second quarter of 2006. Montserrat, a British Oversees territory is awaiting approval by the United Kingdom. Haiti and the Bahamas have no immediate plans to join.

Central American Free Trade Agreement

The Central American Free Trade Agreement (CAFTA) is an agreement between the United States and the Central American countries of Costa Rica, Guatemala, El Salvador, Honduras, and Nicaragua. The treaty is aimed at promoting free trade between its members. Canada and Mexico are negotiating membership.

United States Mexico Canada Agreement

The United States Mexico Canada Agreement (USMCA) is an agreement between Canada, Mexico and the United States to eliminate tariffs on goods traded between themselves as well as environmental and worker protections.

Although currently only a trade agreement, with no supranational bodies or laws as in the European Union, there have been various proposals to move towards a customs union or a North American currency union. It is unknown whether or not this may eventually develop into a North American Union similar to that of Europe.

Currency and Central Banks

Below is a list of the currencies of North America, with exchange rates between each currency and both the euro and US dollars ^{as of 12 April 2008}. This list may vary as it is not current.

Country	Currency	worth in euro	worth in USD	Central bank
Antigua and Barbuda	EC dollar	0.24	0.38	Eastern Caribbean Central Bank
Argentina	Argentine peso	0.24	0.38	Central Bank of Argentina
Bahamas	Bahamian dollar	0.63	1.00	Central Bank of the Bahamas
Barbados	Barbadian dollar	0.32	0.50	Central Bank of Barbados
Belize	Belizean dollar	0.32	0.51	Central Bank of Belize
Bolivia	Bolivian boliviano	0.32	0.51	Central Bank of Bolivia
Brazil	Brazilian real	0.15	0.17	Central Bank of Brazil
Canada	Canadian dollar	0.62	0.98	Bank of Canada
Chile	Chilean peso	0.62	0.98	Central Bank of Chile
Colombia	Colombian peso	0.62	0.98	Bank of the Republic
Costa Rica	Colón	0.001	0.002	Central Bank of Costa Rica
Cuba	Cuban convertible peso	0.847	1.08	Central Bank of Cuba
	Cuban peso	0.030	0.038
Dominica	EC dollar	0.24	0.38	Eastern Caribbean Central Bank
Dominican Republic	Dominican Republic Peso	0.02	0.03	Central Bank of the Dominican Republic
Ecuador	US dollar	0.63	1.00	Central Bank of Ecuador
El Salvador	US dollar	0.63	1.00	Central Reserve Bank of El Salvador
Greenland	Danish krone	0.13	0.19	Denmark's National Bank
Grenada	EC dollar	0.24	0.38	Eastern Caribbean Central Bank
Guatemala	Quetzal	0.08	0.13	Bank of Guatemala
Guyana	Guyanese dollar	0.08	0.13	Bank of Guyana
Haiti	Gourde	0.02	0.03	Central Bank of Haiti
Honduras	Lempira	0.03	0.05	Central Bank of Honduras
Jamaica	Jamaican dollar	0.009	0.01	Bank of Jamaica
Mexico	Mexican peso	0.06	0.09	Bank of Mexico
Nicaragua	Córdoba	0.03	0.05	Central Bank of Nicaragua
Panama	Balboa	0.63	1.00	National Bank of Panama
Paraguay	Paraguayan guaraní	0.63	1.00	Central Bank of Paraguay
Peru	Peruvian sol	0.63	1.00	Bank of the Nation
Saint Kitts and Nevis	EC dollar	0.24	0.38	Eastern Caribbean Central Bank
Saint Lucia	EC dollar	0.24	0.38	Eastern Caribbean Central Bank
Saint Vincent and the Grenadines	EC dollar	0.24	0.38	Eastern Caribbean Central Bank
Suriname	Surinamese dollar	0.24	0.38	Central Bank of Suriname
Trinidad and Tobago	Trinidad and Tobago dollar	0.10	0.16	Central Bank of Trinidad and Tobago
Uruguay	Uruguayan peso	0.75	1.00	Central Bank of Uruguay
United States	US dollar	0.63	1.00	Federal Reserve System
Venezuela	Venezuelan bolívar	0.75	1.00	Central Bank of Venezuela

Table correct as of 12 April 2008

Global trade relations

The bulk of the American trade is done internally, between North America and South America, and also with Europe and China.

See also

• United States–Mexico–Canada Agreement (USMCA)