THE RICHEST COUNTRIES IN SOUTH AMERICA

Chile is the richest country in South America by GDP per capita and Brazil is the
wealthiest in terms of GDP (PPP).

The economy of the South American continent represents the economy of the 12
nations and 3 territories of the continent housing a total population of about 410
million. Initially, after attaining independence, most South American nations used
the Import Substitution economic policy. The policy was implemented from the
1930s to the 1980s. It was implemented with the objective of growing domestic
businesses which were at that time not competitive and at par with international
industries. However, the policy led to a debt crisis in the continent and the
countries fell farther behind the Western countries in economic development.

The real growth of the South American economies began in the 1990s when the
countries adopted the Free-Market economy system which helped the countries
overcome the debt crisis. At present, agriculture, mining, and forestry are the major
South American industries.

5. Colombia - $13,579

Colombia, located in the continent's northwest, is the fifth richest country in South
America in terms of per capita GDP (PPP). The country occupies an area of about
1,141,748 square km and has a population of around 48 million.

The main export item of Colombia which makes up 45% of all exports of the
country is petroleum. The next big sector is the manufacturing industry. The
country also has the world’s fastest growing information technology sector and the
largest shipbuilding industry outside Asia. The country is going through a period of
economic boom with a rapid increase in GDP and a decrease in poverty levels.

4. Brazil - $15,164
Brazil, the largest country in South America by both size and population, is also the
fourth richest country in the continent in terms of GDP (PPP). Brazil has a long
coastline along the Atlantic Ocean and is bound by most of South American
countries with the exception of Chile and Ecuador.

The economy of Brazil can be described as an inward-oriented economy. The

country’s economy suffered a major setback in 2013 and entered a recession the
next year. It is currently recovering from the recession, though the country has
pretty much re-emerged. The service sector contributes 67.0% of the GDP and the
industrial sector accounts for 27.5%. Agriculture accounts for a mere 5.5% of the
country’s GDP.

3. Argentina - $19,486

Spanning an area of 2,780,400 square km, Argentina is the 8th largest country in

the world. It is the third richest country in South America in terms of GDP per
capita. The country is located in the continent’s southern part where it is bordered
by Chile, Brazil, Bolivia, Paraguay, and Uruguay. It has an extensive coastline
along the Atlantic Ocean to the east. Argentina has a population of around 43
million people.

The economy of Argentina is based on the country’s rich natural resources, export-

oriented agriculture, an educated population, and a diversified industrial sector.
The economic performance of the country has gone through several ups and
downs in the past few decades. Currently, it is classified as a middle emerging
economy.

2. Uruguay - $22,445

Uruguay is the second richest South American nation in terms of GDP per capita.
The country is located in South America’s southeastern region where it occupies
an area of about 176,000 square km. The population of the country is 3.42 million.
Uruguay has a stable economy with a literate workforce and an export-oriented
agricultural sector serving as the pillars of the country’s economy. Beef and wool
are the most powerful export-oriented industries in the country. Some mining
activities are also carried out. Plastics are the most significant manufactured
exports of the country. The telecommunications sector is also well-developed.
Travel and tourism contribute to 9.4% of the country's GDP.

1. Chile - $24,588

Chile has the richest economy in South America in terms of GDP per capita. Chile
occupies a long and narrow strip of territory between the Pacific Ocean and the
Andes mountain range in southern South America. Peru, Bolivia, and Argentina are
the immediate neighbors of Chile. The country covers an area of about 756,096.3
square km. As of 2012, it has a population of 16,341,929.

Chile is one of the most prosperous and stable economies of the continent and the
World Bank ranks the Chilean economy as a high-income economy. It is the
world’s 30th most competitive country. As of 2012, the largest economic sectors by
GDP in Chile are mining, business and personal services, wholesale, retail trade,
and manufacturing. Only 4.9% of the GDP is contributed by the agricultural and
allied sectors.

The Richest Countries In South America

Rank Country Income (Per Capita)

1 Chile 24,588

2 Uruguay 22,445

3 Argentina 19,486

4 Brazil 15,164

5 Colombia 13,579
 6 Suriname 13,403

7 Peru 12,994

8 Venezuela 12,035

9 Ecuador 9,882

10 Paraguay 9,098

11 Guyana 8,173

12 Bolivia 7,174
This page was last updated on June 29, 2018.
By Oishimaya Sen Nag

[ CITATION Ois18 \l 9226 ]

Bibliografía
Nag, O. S. (29 de June de 2018). Worldatlas. Obtenido de
https://www.worldatlas.com/articles/the-richest-countries-in-south-
america.html