Tuesday, December 16, 2008

Costa Rica second most globalized nation in Latin America

Most Latin American countries increased their roles in the world economy through trade, foreign investment, Internet penetration and other measures in 2007, according to a new report released by Miami-based Latin Business Chronicle.

In the Latin Globalization Index, which analyzed 18 countries, Panama was ranked as the most globalized nation in the region, followed by Costa Rica, Nicaragua, Chile and Paraguay.

Latin America's two largest economies, Brazil and Mexico, were ranked last and in 10th place, respectively, but both improved from last year's ratings.

The globalization index uses six elements to measure a county's globalization level: exports, imports, foreign direct investment, tourism receipts, remittances and Internet penetration. All factors except Internet penetration are calculated as a percent of Gross Domestic Product.

The index also measures the biggest winners and losers in foreign direct investment. Those showing the best gains in foreign investment were Panama, Chile, El Salvador, Costa Rica and Honduras.

The biggest losers were Venezuela, Ecuador, Bolivia, Paraguay and Guatemala.

Y0u can read the full Miami Herald report, By JOE MANN here

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