Chile and Uruguay are the best South American countries for business

Chile and Uruguay are the best South American countries for business



Chile and Uruguay are the best countries in South America to do business in 2019, according to a ranking published by the US magazine Forbes.

Out of a total of 161 countries analyzed by Forbes according to their business possibilities in 2019, Uruguay ranks second in South America, behind Chile, and ahead of Brazil, Argentina and Paraguay, which are ranked third and fourth. fifth, respectively.

This specialized magazine in finance and business founded in 1917 also determines that in Latin America as a whole the preferable destinations to do business in the new year are Chile, Costa Rica, Mexico, Uruguay, Peru, Colombia, Brazil, Argentina, Dominican Republic, Guatemala , Ecuador and Paraguay, in this order.

In the group of 161 countries evaluated by Forbes, Chile ranks 33, Costa Rica 48, Mexico 54, Uruguay 58, Peru 64, Colombia 67, Brazil 73, Argentina 76, Dominican Republic 91 , Guatemala on 97, Ecuador on 99 and Paraguay on 114, Honduras on 120, Bolivia on 128 and Nicaragua on 135.

Forbes points out that Chile is a country characterized by a high level of foreign trade and a reputation of solid financial institutions, as well as a consistent policy that has given it the strongest sovereign bond rating in South America.

Exports of goods and services from Chile represent, according to Forbes, one third of its Gross Domestic Product (GDP) and basic products 60% of total exports. Copper is Chile's main export and provides 20% of the Government's income.

Its main macroeconomic data is a GDP of 277 billion dollars as of December 2018, with a growth of 1.5%; a GDP per capita of $ 15,300; a ratio between the trade balance and negative GDP, of -1.5%; a population of 17.9 million, a ratio between public debt and GDP of 24%, unemployment of 6.7% and inflation of 2.2%.

On Uruguay, the US economic magazine highlights that this southern country has a free market economy characterized by an export-oriented agricultural sector, a well-educated workforce and high levels of social spending.

He also points out that he has sought to expand trade within the Common Market of the South (Mercosur) and with countries that are not members of this bloc and that its president, Tabaré Vázquez "has maintained a combination of pro-market policies and a strong social security network. "

After financial difficulties in the late 1990s and early 2000s, Uruguay's economic growth averaged eight percent per year during the 2004-2008 period, Forbes adds.

The 2008-2009 global financial crisis halted Uruguay's vigorous growth, which decelerated to 2.6% in 2009. However, the country avoided a recession and maintained positive growth rates, mainly through higher public spending. and investment.

GDP growth reached 8.9% in 2010, but slowed significantly in the 2012-2016 period as a result of a further slowdown in the world economy and the main trading partners of Uruguay and its counterparts in Mercosur, Argentina and Brazil. . The reforms in those countries should give Uruguay an economic boost, says Forbes.

The GDP of Uruguay at December 2018 is 59 trillion dollars, with a growth of 2.7%; its GDP per capita $ 16,200; the ratio between its Trade balance and GDP is 1.5%; its population 3.4 million; the ratio between public debt and GDP 66% unemployment 7.6% and inflation 6.2%.

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