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Encyclopedia > Economy of North America
Economy of North America
During 2003 unless otherwise stated
Population: 495.4 million...
GDP (PPP) (2006): US$15.560 trillion
GDP (Currency): $11.865 trillion
GDP/capita (PPP): $25,263
GDP/capita (Currency) : $24,155
Annual growth of
per capita GDP:
1.84% (1990-2002)
Income of top 10%: 32.9%
Millionaires: 2.5 million
Unemployment
Estimated female
income
55.7% of male
Most numbers are from the UNDP from 2002, some numbers exclude certain countries for lack of information.
See also: Economy of the world - Economy of Africa - Economy of Asia - Economy of Europe - Economy of North America - Economy of Oceania - Economy of South America
edit

The economy of North America comprises more than 514 million people in 23 soverign states and 15 dependent territories. It is marked by a sharp division between the northern English and French speaking countries of Canada and the United States, which are among the wealthiest and most developed nations in the world, and the countries of Central America and the Caribbean that are less developed. Mexico lies in between these two extremes as a newly industrialized country or NIC, and is a part of NAFTA and the only Latin American member of the OECD. There are three lists of countries of the world sorted by their gross domestic product (GDP) (the value of all final goods and services produced within a nation in a given year). ... The United States dollar is the official currency of the United States. ... Map of countries by GDP (PPP) per capita for the year 2006. ... A millionaire is a person who has a net worth or wealth of more than one million United States dollars, euros, UK pounds or units of a comparably valued currency. ... This article does not cite any references or sources. ... Income, generally defined, is the money that is received as a result of the normal business activities of an individual or a business. ... The United Nations Development Programme (UNDP) is the largest multilateral source of grant technical assistance in the world. ... The world economy can be evaluated in various ways, depending on the model used, and this valuation can then be represented in various ways (for example, in 2006 US dollars). ... The economy of Africa consists of the trade, industry, and resources of the peoples of Africa. ... The economy of Asia comprises more than 4 billion people (60% of the world population), living in 46 different states. ... The economy of Europe comprises more than 710 million people in 48 different states. ... The economy of Oceania is comprised of more than. ... The economy of South America comprises about 500 million people living in 14 states and territories. ... For other uses, see Central America (disambiguation). ... “West Indian” redirects here. ... Countries currently considered NICs. ... Nafta or NAFTA may refer to: an acronym for the North American Free Trade Agreement an acronym for the New Zealand Australia Free Trade Agreement the town/Tokyo of Nafta, Tunisia This is a disambiguation page: a list of articles associated with the same title. ... The Organization for Economic Co-operation and Development (OECD) is an international organization of those developed countries that accept the principles of representative democracy and a free market economy. ...

Contents

Economic development

Roaring Twenties

The 1920s were a time of economic growth and prosperity in North America. Increased incomes as well as the large increase in the ability of private citizens to obtain credit resulted in a surge of consumer spending after World War I.[1] “The Great War ” redirects here. ...


Great Depression

The Great Depression began in North America in October 1929. The start is often dated to the stock market collapse of Black Friday although this was not the cause of the Great Depression.[2] Canada and the United States experienced especially large declines, with the gross domestic producting fall 37% from 1929 to 1933 in the United States, and 43% in Canada over the same period.[3] The economy reached its lowest point in 1933, however recovery was slow. The outbreak of World War II in 1939 created demand for war materials that brought about the end of the depression. For other uses, see The Great Depression (disambiguation). ... The Wall Street Crash of 1929, also called the Great Crash or the Crash of 29, is the stock-market crash that occurred in late October, 1929. ... Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki Tōjō Casualties Military dead: 17,000,000 Civilian dead: 33,000...


The Great Depression spurred increased government intervention in the economy in North America. The United States introduced unemployment insurance, a minimum wage and standardised working hours under the New Deal.[4] Canada introduced similar measures.[5] Mexico nationalised some key industries during the Great Depression, with the railroads nationalised by 1937 and the oil industry nationalised in 1938.[6] The minimum wage is the minimum rate a worker can legally be paid (usually per hour) as opposed to wages that are determined by the forces of supply and demand in a free market. ... The New Deal was the title President Franklin D. Roosevelt gave to the series of programs he initiated between 1933 and 1938 with the goal of providing relief, recovery, and reform (3 Rs) to the people and economy of the United States during the Great Depression. ...


World War II

The large scale enlistment of men into armed forces during World War II women entered the workforce en masse, filling many jobs in manufacturing and technical areas that had previously been closed to women.[7] The economic output in North America increased substantially, with unemployment practically eliminated in the United States.[8] Rationing severely reduced the availability of consumer goods, with the increase in industrial production coming from the demand for war materials. Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki Tōjō Casualties Military dead: 17,000,000 Civilian dead: 33,000...


Cold War

US-Canada Free Trade Agreement and NAFTA - a new era of economic integration

The Canada-United States Free Trade Agreement of 1989 and the subsequent expansion to NAFTA triggered a dramatic increase in trade between these three countries, with Mexican trade with the United States and Canada increasing threefold.[9] Over 85% of Canadian exports in 2006 went to the United States.[10] The Free Trade Agreement (FTA) was a trade agreement signed by Canada and the United States on January 2, 1988. ... Nafta or NAFTA may refer to: an acronym for the North American Free Trade Agreement an acronym for the New Zealand Australia Free Trade Agreement the town/Tokyo of Nafta, Tunisia This is a disambiguation page: a list of articles associated with the same title. ...


Regional variation

to be completed


Trade blocks

Asia-Pacific Economic Cooperation

The Asia-Pacific Economic Cooperation (APEC) is a group of Pacific Rim countries which meet with the purpose of improving economic and political ties. APEC's stated goals are aimed at free and open trade and investments by cutting tariffs between zero to five percent in the Asia-Pacific area for industrialised economies by 2010 and for developing economies by 2020. “APEC” redirects here. ... The USS Abraham Lincoln Battle Group along with ships from Australia, Chile, Japan, Canada, and Korea speed towards Honolulu in RIMPAC 2000. ...


The organisation has members from four continents, those from North America are Canada, Mexico and the United States.


Caribbean Community

The Caribbean Community (CARICOM) was created "To provide dynamic leadership and service, in partnership with Community institutions and Groups, toward the attainment of a viable, internationally competitive and sustainable Community, with improved quality of life for all". Map showing CARICOM members, associates and observers Seat of Secretariat Georgetown, Guyana Official languages English4 Membership  15 full members1  5 associate members2  7 observers3 Leaders  -  Secretary-General Edwin W. Carrington (since 1992)  -  CARICOM Heads of Government   Establishment  -  August 1, 1973  Website http://www. ...


- On January 1, 2006 six members: (Barbados, Belize, Guyana, Jamaica, Suriname and Trinidad and Tobago) un-officially ushered in the Caribbean (CARICOM) Single Market and Economy (CSME). ...


- At the official signing of the protocol on January 30, 2006 in Jamaica, A further six members: (Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia and Saint Vincent and the Grenadines) announced their intention to join by the second quarter of 2006. Montserrat, a British Oversees territory is awaiting approval by the United Kingdom. Haiti(suspended) and the Bahamas have no immediate plans to join.


Central American Free Trade Agreement

The Central American Free Trade Agreement (CAFTA) is an agreement between the United States and the Central American countries of Costa Rica, Guatemala, El Salvador, Honduras, and Nicaragua. The treaty is aimed at promoting free trade between its members. Canada and Mexico are negotiating membership. The Central American Free Trade Agreement (CAFTA) is a free trade agreement between the United States and the Central American countries of Guatemala, Honduras, and Canada, and Mexico. ... Free trade is an economic concept referring to the selling of products between countries without tariffs or other trade barriers. ...


North American Free Trade Agreement

The North American Free Trade Agreement (NAFTA) is an agreement between Canada, Mexico and the United States to eliminate tariffs on goods traded between themselves. Secretariats Mexico City, Ottawa and Washington, D.C. Official languages English, French and Spanish Membership Canada, Mexico and the United States Establishment  -  Formation 1 January 1994  Website http://www. ...


Although currently only a trade agreement, with no supranational bodies or laws as in the European Union, all three members support proposals to move towards an EU style organisation. It is unknown whether or not this may eventually develop into a North American Union similar to that of Europe. For other uses, see Europe (disambiguation). ...


Currency

Below is a list of the currencies of North America, with exchange rates between each currency and both the Euro and US Dollars as of 17th November 2004.

Country Currency worth in Euro worth in USD Central bank
Antigua and Barbuda EC dollar 0.37 Eastern Caribbean Central Bank
Bahamas Bahamian dollar 1 Central Bank of the Bahamas
Barbados Barbadian dollar 0.49 Central Bank of Barbados
Belize Belizean dollar 0.50 Central Bank of Belize
Canada Canadian dollar 0.96 Bank of Canada
Costa Rica Colón Banco Central de Costa Rica
Dominica EC dollar 0.37 Eastern Caribbean Central Bank
Dominican Republic Dominican peso Banco Central de la Republica Dominicana
El Salvador US dollar The Central Reserve Bank of El Salvador
Grenada EC dollar 0.37 Eastern Caribbean Central Bank
Guatemala Quetzal Banco de Guatemala
Haiti Gourde Central Bank of Haiti
Honduras Lempira Central Bank of Honduras
Jamaica Jamaican dollar Bank of Jamaica
Mexico Mexican peso Banco de Mexico
Nicaragua Córdoba Banco Central de Nicaragua
Panama Balboa National Bank of Panama
Saint Kitts and Nevis EC dollar 0.37 Eastern Caribbean Central Bank
Saint Lucia EC dollar 0.37 Eastern Caribbean Central Bank
Saint Vincent and the Grenadines EC dollar 0.37 Eastern Caribbean Central Bank
Trinidad and Tobago Trinidad and Tobago dollar Central Bank of Trinidad and Tobago
United States US dollar 0.7 1 Federal Reserve System

Table correct as of 17th November 2004 The East Caribbean dollar (currency code XCD) is the currency of eight members of the Organisation of Eastern Caribbean States. ... The Eastern Caribbean Central Bank is the monetary authority of a group of six Caribbean nations namely, St Kitts and Nevis, Antigua and Barbuda, Commonwealth of Dominica, St Lucia, St Vincent and the Grenadines, Grenada and two overseas territories of the U.K namely, Anguilla, Montserrat. ... The Bahamian dollar (B$; ISO 4217 code BSD) is the national currency of The Bahamas. ... The Barbados dollar – currency symbol $ or Bds$ – is the national unit of currency of Barbados. ... The Central Bank of Barbados (CBB), was established by an Act of parliament in May, 1972. ... The Belize dollar ( ISO 4217 code: BZD) is the national currency of Belize. ... The Central Bank of Belize is the central bank of Belize. ... It has been suggested that this article or section be merged with Loonie. ... Headquarters Ottawa, Ontario ,Canada Established 1935 Governor David A. Dodge Central Bank of Canada Currency Canadian dollar ISO 4217 Code CAD Website www. ... The colón is the currency of two Central American nations: Costa Rica (ISO 4217 three-letter currency code: CRC) see Costa Rican colón El Salvador (ISO 4217: SVC) – since 2001 used in parallel with the United States dollar; see dollarization, El Salvador colón. ... The Central Bank of Costa Rica (Spanish: ) is the central bank of Costa Rica. ... The East Caribbean dollar (currency code XCD) is the currency of eight members of the Organisation of Eastern Caribbean States. ... The Eastern Caribbean Central Bank is the monetary authority of a group of six Caribbean nations namely, St Kitts and Nevis, Antigua and Barbuda, Commonwealth of Dominica, St Lucia, St Vincent and the Grenadines, Grenada and two overseas territories of the U.K namely, Anguilla, Montserrat. ... ISO 4217 Code DOP User(s) Dominican Republic Inflation 8. ... The Banco Central de la República Dominicana (BCRD) was established by the Monetary and Banking Law of 1947 as the central bank of the Dominican Republic, responsible for regulating the countrys monetary and banking system. ... The United States dollar is the official currency of the United States. ... Headquarters Central Bank of El Salvador Currency United States dollar ISO 4217 Code USD The Central Reserve Bank of El Salvador (Spanish:El Banco Central de El Salvador) is the central bank of El Salvador, which controls the currency rate and regulates certain economic activities within El Salvador. ... The East Caribbean dollar (currency code XCD) is the currency of eight members of the Organisation of Eastern Caribbean States. ... The Eastern Caribbean Central Bank is the monetary authority of a group of six Caribbean nations namely, St Kitts and Nevis, Antigua and Barbuda, Commonwealth of Dominica, St Lucia, St Vincent and the Grenadines, Grenada and two overseas territories of the U.K namely, Anguilla, Montserrat. ... The Quetzal (ISO 4217 code: GTQ) is the name of the national unit of currency of Guatemala (divided into 100 centavos). ... The Bank of Guatemala (Spanish: ) is the central bank of Guatemala. ... 25 gourdes banknote overprinted after the fall of the Duvailer regime The gourde is the currency of Haiti. ... Logo The Bank of the Republic of Haiti (French: , BRH) is the central bank of Haiti. ... The lempira (ISO 4217 code: HNL) is the currency of Honduras. ... The Central Bank of Honduras (Spanish: ) is the central bank of Honduras. ... The dollar (ISO 4217 code: JMD) is the currency of Jamaica. ... The Bank of Jamaica is the central bank of Jamaica. ... ISO 4217 Code MXN User(s) Mexico Inflation 3. ... Banco de Mexico (BdeM) is Mexicos central bank. ... The córdoba (ISO 4217 code: NIO) is the national currency of Nicaragua. ... The Central Bank of Nicaragua (Spanish: ) is the central bank of Nicaragua. ... This article needs copyediting (checking for proper English spelling, grammar, usage, etc. ... The National Bank of Panama (Spanish: ) is an government owned bank. ... The East Caribbean dollar (currency code XCD) is the currency of eight members of the Organisation of Eastern Caribbean States. ... The Eastern Caribbean Central Bank is the monetary authority of a group of six Caribbean nations namely, St Kitts and Nevis, Antigua and Barbuda, Commonwealth of Dominica, St Lucia, St Vincent and the Grenadines, Grenada and two overseas territories of the U.K namely, Anguilla, Montserrat. ... The East Caribbean dollar (currency code XCD) is the currency of eight members of the Organisation of Eastern Caribbean States. ... The Eastern Caribbean Central Bank is the monetary authority of a group of six Caribbean nations namely, St Kitts and Nevis, Antigua and Barbuda, Commonwealth of Dominica, St Lucia, St Vincent and the Grenadines, Grenada and two overseas territories of the U.K namely, Anguilla, Montserrat. ... The East Caribbean dollar (currency code XCD) is the currency of eight members of the Organisation of Eastern Caribbean States. ... The Eastern Caribbean Central Bank is the monetary authority of a group of six Caribbean nations namely, St Kitts and Nevis, Antigua and Barbuda, Commonwealth of Dominica, St Lucia, St Vincent and the Grenadines, Grenada and two overseas territories of the U.K namely, Anguilla, Montserrat. ... The dollar (ISO 4217 code: TTD; also TT$) is the currency of Trinidad and Tobago. ... The Central Bank of Trinidad and Tobago is the central bank of Trinidad and Tobago. ... The United States dollar is the official currency of the United States. ... The Fed redirects here. ...


Economic sectors

Agriculture

Manufacturing

Service

Investing and banking

Global trade relations

References

  1. ^ 1920's Business and Economy.
  2. ^ Outline of the U.S. Economy. U.S. Department of State.
  3. ^ The Great Depression (1929-1939): historical context, economic impact and related links. Government of Canada.
  4. ^ U.S. Department of Labor -- Brief History of DOL - The Department in the New Deal and World War II, 1933-1945. U.S. Department of Labor.
  5. ^ Unemployment Insurance Act (1941): historical context, economic impact and related links. Government of Canada.
  6. ^ Klayton R Koppes (June 1982). "The Good Neighbor Policy and the Nationalization of Mexican Oil: A Reinterpretation" 69 (1): 62-81. 
  7. ^ American Experience. Public Broadcasting Service.
  8. ^ The National World War II Museum, New Orleans. The National World War II Museum.
  9. ^ CIA - The World Factbook -- Mexico. Central Intelligence Agency.
  10. ^ CIA - The World Factbook -- Canada. Central Intelligence Agency.

Economy by country/territory

This is an alphabetical list of the sovereign states of the world, including both de jure and de facto independent states. ... Economy - overview: Antigua and Barbudas economy is service-based, with tourism and government services representing the key sources of employment and income. ... The economy of Costa Rica heavily depends on tourism, agriculture, and electronics exports. ... The Dominican Republic is a middle-income developing country primarily dependent on agriculture, trade, and services, especially tourism. ... This article does not cite its references or sources. ... Saint Kitts and Nevis was the last sugar monoculture in the Eastern Caribbean. ... Saint Lucias economy depends primarily on revenue from banana production and tourism with some input from small-scale manufacturing. ... The St. ... Trinidad and Tobago experienced a real growth rate of 3. ... The United States has the worlds largest gross domestic product (GDP), $13. ... Download high resolution version (675x894, 685 KB)From http://cia. ... A dependent territory, dependent area or dependency is a territory that does not possess full political independence or sovereignty as a State. ... Types of administrative and/or political territories include: A legally administered territory, which is a non-sovereign geographic area that has come under the authority of another government. ... Economy - overview: The economy of the British Virgin Islands, one of the most prosperous in the Caribbean, is highly dependent on tourism, which generates an estimated 45% of the national income. ... To meet Wikipedias quality standards, this article may require rewriting and/or reformatting. ... Tourism, petroleum transhipment, and offshore finance are the mainstays of the Netherlands Antillean economy, which is closely tied to the outside world. ... The Economy of Puerto Rico is one of the most dynamic in the Caribbean region. ... The Economy of Saint Pierre and Miquelon possesses the feature that the inhabitants have traditionally earned their livelihood by fishing and by servicing fishing fleets operating off the coast of Newfoundland. ... The Turks and Caicos Islands is an overseas territory of the United Kingdom consisting of two groups of tropical islands in the Caribbean, southeast of the Bahamas, at 21°45N, 71°35W. The thirty islands total 166 sq. ... Economy - overview: GDP: purchasing power parity - $1. ... A transcontinental nation is a country belonging to more than one continent. ... World map showing the Americas CIA political map of the Americas The Americas are the lands of the Western hemisphere or New World consisting of the continents of North America[1] and South America with their associated islands and regions. ... South America South America is a continent crossed by the equator, with most of its area in the Southern Hemisphere. ...

See also


  Results from FactBites:
 
North America - Encyclopedia, History, Geography and Biography (1043 words)
North America occupies the northern portion of the landmass generally referred to as the New World, the Western Hemisphere, the Americas, or simply America.
North America's only land connection is to South America at the narrow Isthmus of Panama.
Geopolitically, Northern America is sometimes used to refer to Canada and the United States together (plus Greenland, Bermuda, and St. Pierre and Miquelon), while Central America is mainland North America south of the U.S. The term Middle America is sometimes used to refer to Mexico, Central America, and the Caribbean collectively.
  More results at FactBites »

 
 

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