Economy of Central America - wikipedia Economy of Central America The Panama Canal is the principal trade route between Central America and the world World economy Africa Americas Central America North America South America Asia Europe Oceania The economy of Central America is the eleventh largest economy in Latin America, behind Brazil, Mexico, Argentina, Chile and Colombia, According to the World Bank, the nominal GDP of Central America reached 204 billion US dollars in 2010, as recovery from the crisis of 2009, where GDP suffered a decline to 3.8 %. The major economic income are the agriculture and tourism, although the industrial sector is in strong growth, mainly in Panama. United States is the main socio - commercial of all Central American countries. Other important socio - commercial countries in Central America are the European Union, Japan, Dominican Republic and Mexico. Currently, Central American bloc based on a bilateral free trade agreement ( FTA ) with the United States known as CAFTA - DR, and another in negotiations with Peru. The Panama Canal is the connection of Central America with the rest world, and the main means of communication for trade with Central America, South America, United States, Europe and Asia. The economic development of Central America is the Middle level, although competitiveness is remarkable : Guatemala : Is the largest economy in the isthmus and the tenth in Latin America, has the largest nominal GDP ( $118 655 million ) and GDP PPP of $81.51 billion ( 2013 data ). Maintains strong commercial relations mainly with the United States, Mexico, Taiwan, Dominican Republic, Germany and Korea. According to the International Monetary Fund, Guatemala has a stable economy. Panama : Besides having the highest HDI in the region, Panama has been the highest economic growth in Latin America, with an increase of 6.2 % ( 2014 ). Panama is recognized as the most industrial country in Central America, and the second in Latin America after Chile. Has strong business relationships and treaties with the United States, China, Colombia, Costa Rica, Japan and Singapore. Costa Rica : The economy of Costa Rica is the third largest in the region, is the Central American country that has more trade relations, mainly with the United States, Singapore, European Union, Mexico, Chile, China, CARICOM ( Caribbean Community ), among others countries. Politically, Costa Rica is the most stable country in Central America. El Salvador : According to the World Bank, El Salvador is the fourth largest economy in the region, and has a GDP PPP of $50,903 million. The Salvadoran economy grew by 3 % in 2010, after a strong contraction in 2009. Honduras : Is the second poorest country in Central America, with 60 % living in poverty according to the CIA World Factbook. In percentage, Honduras has the largest cheap labor in Central America, its economy is mainly agricultural, the main export products are rice, coffee, bananas, vegetables, and other products. Nicaragua : Is the least stable country in the region, and the second poorest in the hemisphere after Haiti. Nicaragua is the country that produces less, has the lowest HDI in the region, and it has the lowest minimum wage in Central America ( USD $141.00 ). Nicaragua is the country that receives financial assistance in the region, since 4 out of 10 people live on less than a dollar a day, according to the PNUD. Nicaragua is integrated into the Bolivarian Alliance for the Peoples of Our America ( ALBA ). Contents 1 Currency by country 2 Gross domestic product by Country ( 2012 ) 3 Exports and Imports 4 Foreign direct investment 5 Banking 6 See also 7 References Currency by country Each country has its own national currency, with the exception of El Salvador, where the US dollar was taken as currency in the country as of January 1, 2001, replacing the Salvadoran colon, Belize is a country where circulates the dollar, although of type Belizean. In the case of Panama two types of currency are circulating, the Panamanian balboa and the US dollar. Countries Official Currency Belize Belizean dollar Costa Rica Colón El Salvador American dollar Guatemala Quetzal Honduras Lempira Nicaragua Córdoba Panama Balboa / American dollar Gross domestic product by country ( 2012 ) Guatemala has the highest Gross Domestic Product in Central America, followed by Panama, Costa Rica and El Salvador. The GDP data are based on data from the World Bank corresponding to 2012. The rates of economic growth come from the CIA The World Factbook. Countries GDP PPP GDP PPP per capita nominal GDP nominal GDP per capita Economic growth ( % ) Belize $2.754. 000.000 $8.412 $1.520. 000.000 $4.481 + 3.00 Costa Rica $58.599. 000.000 $12.558 $44.884. 000.000 $9.500 + 5.10 El Salvador $45.980. 000.000 $7.734 $23.985. 000.000 $4.108 + 1.90 Guatemala $78.419. 000.000 $5.191 $50.296. 000.000 $3.330 + 3.30 Honduras $37.670. 000.000 $4.593 $18.180. 000.000 $2.185 + 3.30 Nicaragua $19.894. 000.000 $3.336 $7.828. 000.000 $1.291 + 4.10 Panama $67,804,000,000 $17,830 $36,252,500,000 $9,534 + 10.00 Exports and imports Regarding exports and imports, the balance is negative in the region, each country consumes more than it produces. The main products that the region exports are agricultural type ( cocoa, coffee, rice, flowers, etc. ), the largest purchaser is the United States. While on the other hand, the region imports nontraditional products ( cars, appliances, electronics, etc. ) and the main seller is United States. Countries Imports of goods and services ( 2010 ) Exports of goods and services ( 2010 ) Balance Panama $25.232. 000.000 $18.106. 000.000 + $835.000. 000 Costa Rica $14.010. 000,000 $12.120. 000.000 + $120.000. 000 El Salvador $8.234. 000.000 $9.333. 000.000 + $135.000. 000 Guatemala $8.135. 000.000 $8.957. 000.000 + $130.000. 000 Honduras $7.235. 000.000 $7.002. 000.000 + $96.300. 000 Nicaragua $4.723. 000.000 $3.366. 000.000 + $100.500. 000 Foreign direct investment According to the World Bank, Panama, Costa Rica and Guatemala are the countries that receive more foreign direct investment in Central America, and exceeded one billion US dollars. The next table shows the values in dollars, and investment growth between 2010 and 2014 : Countries Foreign Investment ( 2010 ) Foreign Investment ( 2011 ) Foreign Investment ( 2012 ) Foreign Investment ( 2013 ) Foreign Investment ( 2014 ) Belize $96.449. 877 $95.348. 525 $194.201. 409 $92.247. 731 $141.097. 030 Costa Rica $1.850. 664.231 $2.141. 615.128 $2.692. 160.896 $3.284. 494.667 $2.345. 257.533 El Salvador $113.160. 684 $122.500. 004 $447.709. 564 $242.345. 997 $474.801. 761 Guatemala $845.598. 200 $1.139. 659.133 $1.263. 638.429 $1.353. 141.908 $1.204. 670.350 Honduras $484.836. 873 $1.042. 571.021 $1.067. 550.208 $1.069. 029.263 -- Nicaragua $489.900. 000 $936.300. 000 $767.658. 534 $815.500. 000 $840.000. 000 Panama $2.549. 100.000 $4.395. 600.000 $3.297. 100.000 $5.053. 200.000 $5.213. 800.000 Banking Central Bank of Costa Rica Banking is one of the main economic activities in Central America, which takes place mainly in Panama, El Salvador and Costa Rica. Since 2010, Guatemala, Honduras and Nicaragua have developed strong growth of the banking. Regarding financial centers, El Salvador and Panama are the only Central American countries that have a World Trade Center. The economist magazine American Economy published its ranking `` The 250 best banks in Latin America, '' presented the list of the 42 Central American banks included. Within the Latin American general ranking, the first Central American Bank is the number 39 in the list, and it is the HSBC Panama in Panama City. Within the first 100 places in the general ranking of Amperica Economy, 7 Central banks appears : HSBC Panama ranked 39th, General of Panama at 42, National Panama ( 57 ), National of Costa Rica ( 70 ), Bladex of Panama ( 75 ), Agricultural Bank of El Salvador ( 85 ) and Costa Rica Bank of Costa Rica ( 92 ). See also Central America References Jump up ^ GDP growth ( annual % ) World Bank Data. Retrieved : 25 / 07 / 2015. Jump up ^ Relaciones Comerciales entre Centroamérica, Panamá y Japón SIECA. July 2013. Retrieved : 25 / 07 / 2015. ^ Jump up to : Report for Selected Countries and Subjects International Monetary Fund. Jump up ^ Guatemala Producto Interno Bruto ( PIB ) IndexMundi sources of the CIA The World Factbook. Retrieved : 25 / 07 / 2015. Jump up ^ FMI calificó como estable la economía de Guatemala Jump up ^ Panamá - Índice de Desarrollo Humano - IDH Retrieved : 25 / 07 / 2015. Jump up ^ Economía panameña crece al 6, 2 % Retrieved : 25 / 07 / 2015. Jump up ^ Perspectivas del FMI sobre Centroamérica Retrieved : 25 / 07 / 2015. Jump up ^ CIA The World Factbook - Honduras Retrieved : 25 / 07 / 2015. Jump up ^ ( 1 ) Prensa Latinoamericana. Retrieved : 25 / 07 / 2015. Jump up ^ ( 2 ) PNUD. Retrieved : 25 / 07 / 2015. Jump up ^ ( 3 ) La Prensa Gráfica. Retrieved ; 25 / 07 / 2015. Jump up ^ Gross domestic product 2012, PPP. World Bank. Retrieved : 25 / 07 / 2015. Jump up ^ `` Country Comparison. GDP - real growth rate '', CIA The World Factbook. Retrieved : 25 / 07 / 2015. Jump up ^ Balance preliminar de las economías de América Latina y el Caribe 2010 Panamá. Retrieved : 25 / 07 / 2015. Jump up ^ Balance preliminar de las economías de América Latina y el Caribe 2010 Costa Rica. Retrieved : 25 / 07 / 2015. Jump up ^ Balance preliminar de las economías de América Latina y el Caribe 2010 El Salvador. Retrieved : 25 / 07 / 2015. Jump up ^ Balance preliminar de las economías de América Latina y el Caribe 2010 Guatemala. Retrieved : 25 / 07 / 2015. Jump up ^ Balance preliminar de las economías de América Latina y el Caribe 2010 Honduras. Retrieved : 25 / 07 / 2015. Jump up ^ Balance preliminar de las economías de América Latina y el Caribe 2010 Nicaragua. Retrieved : 25 / 07 / 2015. Jump up ^ Inversión extranjera directa por país ( 2010 - 2014 ) Data World Bank. Retrieved : 25 / 07 / 2015. Jump up ^ Ranking de Bancos de Centroamérica The Economist magazine American Economy. Retrieved : 25 / 07 / 2015. Economy of South America Sovereign states Argentina Bolivia Brazil Chile Colombia Ecuador Guyana Paraguay Peru Suriname Uruguay Venezuela Dependencies and other territories Falkland Islands French Guiana South Georgia and the South Sandwich Islands Economy of Europe Sovereign states Albania Andorra Armenia Austria Azerbaijan Belarus Belgium Bosnia and Herzegovina Bulgaria Croatia Cyprus Czech Republic Denmark Estonia Finland France Georgia Germany Greece Hungary Iceland Ireland Italy Kazakhstan Latvia Liechtenstein Lithuania Luxembourg Macedonia Malta Moldova Monaco Montenegro Netherlands Norway Poland Portugal Romania Russia San Marino Serbia Slovakia Slovenia Spain Sweden Switzerland Turkey Ukraine United Kingdom Vatican City States with limited recognition Abkhazia Artsakh Kosovo Northern Cyprus South Ossetia Transnistria Dependencies and other entities Åland Faroe Islands Gibraltar Guernsey Isle of Man Jersey Svalbard Other entities European Union Economy of North America Sovereign states Antigua and Barbuda Bahamas Barbados Belize Canada Costa Rica Cuba Dominica Dominican Republic El Salvador Grenada Guatemala Haiti Honduras Jamaica Mexico Nicaragua Panama Saint Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines Trinidad and Tobago United States Dependencies and other territories Anguilla Aruba Bermuda Bonaire British Virgin Islands Cayman Islands Curaçao Greenland Guadeloupe Martinique Montserrat Puerto Rico Saint Barthélemy Saint Martin Saint Pierre and Miquelon Saba Sint Eustatius Sint Maarten Turks and Caicos Islands United States Virgin Islands Economy of Asia Sovereign states Afghanistan Armenia Azerbaijan Bahrain Bangladesh Bhutan Brunei Cambodia China Cyprus East Timor ( Timor - Leste ) Egypt Georgia India Indonesia Iran Iraq Israel Japan Jordan Kazakhstan North Korea South Korea Kuwait Kyrgyzstan Laos Lebanon Malaysia Maldives Mongolia Myanmar Nepal Oman Pakistan Philippines Qatar Russia Saudi Arabia Singapore Sri Lanka Syria Tajikistan Thailand Turkey Turkmenistan United Arab Emirates Uzbekistan Vietnam Yemen States with limited recognition Abkhazia Artsakh Northern Cyprus Palestine South Ossetia Taiwan Dependencies and other territories British Indian Ocean Territory Christmas Island Cocos ( Keeling ) Islands Hong Kong Macau Retrieved from `` https://en.wikipedia.org/w/index.php?title=Economy_of_Central_America&oldid=817555163 '' Categories : Economies by continent Economy of Central America Talk Contents About Wikipedia Español Français Edit links This page was last edited on 29 December 2017, at 04 : 01. Text is available under the Creative Commons Attribution - ShareAlike License ; additional terms may apply. By using this site, you agree to the Terms of Use and Privacy Policy. Wikipedia ® is a registered trademark of the Wikimedia Foundation, Inc., a non-profit organization. About Wikipedia

Question: who has the best economy in central america
Answer: Guatemala