Costa Rica Second
Most Globalized Country
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.
Despite its size, Brazil
ranked lower then other
nations in the
globalization index --
mainly because factors
like exports and imports
are less
importantrelative to its
large internal economy.
Overall, 13 of the 18
countries studied
improved their ratings
from the previous year
while five -- Bolivia,
Honduras, Venezuela,
Ecuador and Paraguay --
slipped in their
rankings.
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. |
