Resources of the top 5 largest Latin American economies include:
- Brazil - bauxite, gold, iron ore, manganese, nickel, phosphates, platinum, tin, uranium, petroleum, hydropower, timber.
- Mexico - petroleum, silver, copper, gold, lead, zinc, natural gas, timber.
- Argentina - lead, zinc, tin, copper, iron ore, manganese, petroleum, uranium.
- Colombia - petroleum, natural gas, coal, iron ore, nickel, gold, copper, emeralds, hydropower.
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What are three natural resources Latin America?
Production of precious metals, sugar, rubber, grains, coffee, copper, and oil have at various periods of history made countries in Latin America-and their colonial powers-some of the most prosperous in the world.
What resource is most valuable in Latin America?
South America is home to some deposits of oil and natural gas, which are drilled for energy and fuel. Oil and gas extraction is the dominant industry of Venezuela, with major deposits found around Lake Maracaibo and the El Tigre region.
Is Latin America rich in natural resources?
Latin America is particularly vulnerable to the impacts of climate change as it is a region rich in natural resources. It houses 25 percent of the Earth's forests and arable land, as well as more than 30 percent of the world's water resources.
What are the 3 most common resources found in South America?
Probably the most widely exploited metals in Latin America are copper, iron ore, gold and silver. Copper is particularly important with Chile being responsible for around 25% of global production. At that level, Chile is the world's leading exporter of copper with Peru being positioned immediately behind.
What is Latin America best known for?
Latin America is known for its Caribbean rhythms like salsa, bachata, and merengue, which combine hip movements with quick steps and spins. Famous artists of these rhythms are Ruben Blades, Gilberto Santa Rosa, and Celia Cruz, just to name a few.
What does Latin America produce the most?
The main exports from Latin America are agricultural products and natural resources such as petroleum, iron, and copper....Brazil's top exports:Soybeans ($26.1 billion)Crude petroleum ($24.3 billion)Iron ore ($23 billion)Corn ($7.39 billion)Sulfate chemical woodpulp ($7.35 billion)
Is there oil in Latin America?
Oil production in Central & South America is at a high level of more than 7 million barrels per day since a decade ago. The latest figure is 7.5 million barrels per day. Two countries currently dominate Central and South American oil production: Venezuela and Brazil.
What are the 3 richest economies in Latin America?
List of Latin American and Caribbean countries by GDP (PPP)RankNationGDP (PPP) per capita (Intl$)1Brazil17,2072Mexico22,2153Argentina25,8224Colombia18,22531 more rows
What are the top 3 oil producing countries in Latin America?
Latin American oil production is dominated by Brazil, Mexico, and Venezuela. These countries are responsible for about 75% of the region's total output and are also giants on the international stage, ranking as the world's 10th, 11th, and 12th-biggest oil producers, respectively.
What are 5 natural resources in Brazil?
Brazil is rich in a variety of natural resources and is the world's leading producer of tin, iron ore and phosphate. It has large deposits of diamonds, manganese, chromium, copper, bauxite and many other minerals.
What are 5 natural resources in the Southeast region?
The Southeast is rich in natural resources. Natural resources include land, oceans, forests, minerals, and fuels. Land was the first natural resource that attracted people to the Southeast. Growing crops and raising animals was the Southeast's largest industry for many years.
What type of mineral resources are found in Latin America?
The geological diversity of South America ensures the continent is relatively rich in mineral wealth, with some of the world's largest deposits of copper, bauxite, iron ore and nickel. The copper endowment of Chile is particularly notable, accounting for 35 per cent of global copper production.
What are the 3 richest economies in Latin America?
List of Latin American and Caribbean countries by GDP (PPP)RankNationGDP (PPP) per capita (Intl$)1Brazil17,2072Mexico22,2153Argentina25,8224Colombia18,22531 more rows
What Latin American countries have the most precious metals?
Latin America's metal wealth The region's mining powerhouses of Chile, Peru, Brazil and Mexico are particularly blessed. According to the US Geological Survey, Chile has the world's largest reserves of both copper and lithium and the seventh-largest silver reserves.
What is Latin America's largest economy?
BrazilBrazil and Mexico were the countries with the largest gross domestic product (GDP) in Latin America and the Caribbean in 2021. In that year, Brazil's GDP reached an estimated value of 1.6 trillion U.S. dollars, whereas Mexico's amounted to almost 1.3 trillion U.S. dollars.
How many rivers are there in South America?
South America has three major river systems. The Orinoco is the northernmost river system, with the Amazon also in the north, and the Parana in the south of the continent.
What are the llanos in Colombia?
LLANOS OF COLOMBIA AND VENEZUELA. Colombia and Venezuela contain vast plains called llanos, which are grassy, treeless areas used for livestock grazing and farming. They are similar to the Great Plains in the United States and the pampas of Argentina.
What are the most abundant minerals in Latin America?
Gold, silver, iron, copper, bauxite (aluminum ore), tin, lead, and nickel —all these minerals are abundant in Latin America. In addition, mines throughout the region produce precious gems, titanium, and tungsten. In fact, South America is among the world's leaders in the mining of raw materials.
What are the Andes Mountains?
The Andes Mountains of the South American continent are part of a chain of mountain ranges that run through the western portion of North, Central , and South America. This range is called the Rockies in the United States, the Sierra Madre in Mexico, and the Andes in South America. There are many active volcanoes throughout the region.
How many tributaries does the Amazon River have?
The Amazon River is fed by over 1,000 tributaries, some of which are large rivers in themselves. The Amazon carries more water to the ocean than any other river in the world. In fact, it carries more water to the ocean than the next seven largest rivers of the world combined.
What are the natural resources of Latin America?
These include mineral resources, such as gold and silver, as well as energy resources, such as oil and natural gas. In addition, the region is rich in agricultural and forest resources, such as timber. These resources have drawn people to the region for centuries.
Where are the highlands of Latin America?
Other ranges in Latin America include the Guiana Highlands in the northeast section of South America. Highlands are made up of the mountainous or hilly sections of a country. The highlands of Latin America include parts of Venezuela, Guyana, Suriname, French Guiana, and Brazil. The Brazilian Highlands are located along the east coast of Brazil.
What industries use oil?
The oil is used mostly in the energy and petrochemical industrie s. The environmental impact is very bad because of the heavy pollution of all spheres. The timber is used in the paper, furniture and floor, and construction industries.
What are the natural resources of Latin America?
Explanation: Latin America is a region that is rich in numerous natural resources. Some that stick out are the oil, timber, and water. The oil is mostly found in the northern, northeastern, and eastern parts of this region, the tim ber in the northern and central parts, and the water is abundant across most of the region.
What is EITI in the extractive industry?
One example is the Extractive Industries Transparency Initiative (EITI), a global initiative that requires the dissemination of information generated throughout the value chain of the extractives sector, from permits and licenses, to the use of resources collected by the government. The initiative includes 52 countries, and important players such as Brazil have expressed interest in joining. EITI member countries are measured for their level of progress in the implementation of the EITI Standard. Even though 10 countries rich in natural resources in the region have joined, only one, Colombia, is currently listed as fully compliant.
What is the gap in Latin America?
Even though advances in transparency norms have taken place, countries in Latin America and the Caribbean continue to exhibit an implementation gap with respect to those that regulate the governance of extractive industries. According to the 2017 Resource Governance Index (RGI), countries rich in natural resources need to redouble their efforts to strengthen the rules and institutional frameworks that govern the extractives sector, and improve implementation that follows the adoption of legislation and regulations.
How does technology help in the public sector?
Technology provides a powerful weapon to combat these deficiencies by diagnosing and managing governance problems in the public sector and bolstering collective action. In Colombia, for example, the MapaRegalias platform, developed by the IDB and the Colombian government, maps the origin and destination of resources associated with the exploitation of extractive industries. Thanks to the platform, the number of irregularities detected in projects financed through the General Royalty System (SGR) and reported to a control institution for further investigation rose from only 57 in 2013 to more than 1,000 in 2016.
Why is it important to promote governance of natural resources?
Promoting the governance of natural resources also implies (among other things) moving forward with institutional reforms to improve procurement systems. As demonstrated by the Lava Jato case, there is an important link between the irregular flow of money in politics and the control systems regarding procurement and sub-contracting by state-owned enterprises. More generally, it is imperative that countries move forward in the implementation of compliance programs for these businesses, promoting specific frameworks for transparency and integrity.
What countries have made progress in the extractive industry?
Several countries in Latin America and the Caribbean have made progress in recent years in improving transparency standards in the extractive industries. Despite their efforts, results in the sector remain uneven, and challenges persist in ensuring good governance. Meanwhile, several corruption cases, many of them associated with the management ...
Why is it important to reduce the implementation gap?
To reduce the implementation gap it is important that all actors have clarity, based on data, about what works and what doesn’t. Producing and analyzing evidence about the challenges associated with the extractives industry is fundamental to understand the context, progress and challenges countries face; this includes diagnosing the governance, corruption and integrity vulnerabilities along the chain of decisions in the extractive sector.
How do extractive industries impact society?
Governments need to find effective mechanisms of accountability and citizen participation, including through representatives in communities affected by extractive industries. These mechanisms can effectively connect the information the public has at its disposal with the action expected from both governments and companies, banishing “zombie transparency” and producing the conditions in which extraction can positively impact economic and social development.
Why is Lima in the process of constructing an above ground subway system?
In order to reduce traffic and pollution, Lima is in the process of constructing an above-ground subway -type system. South America is home to a number of engineering marvels, most of which are connected to managing the continent’s natural resources.
What are the crops that grow in tropical South America?
There is also less precipitation and a prolonged dry season. Many crop s thrive in the tropical climates of South America. Cashews and Brazil nuts are cultivate d. Fruits such as avocado, pineapple, papaya, and guava are also native to tropical South America.
What is the most important economic activity in South America?
Marine fisheries are the most important economic activity along South America’s Pacific coast, although overfish ing has deplete d many fish populations. The cold Peru Current brings nutrient -rich waters to the coast, creating a fishery with everything from whales to shrimp. Peru and Chile’s abundant anchovy catches are processed into fishmeal, an ingredient used in animal feed and fertilizer. Chile is a global leader in farm-raised salmon and trout, while Ecuador is an important shrimp exporter.
Where does cacao come from?
The chocolate industries of Brazil, Venezuela, and Ecuador are slowly recovering, but most of the world’s cacao now comes from countries in tropical Africa. The continent’s temperate climates are located south of the Tropic of Capricorn and in the mid-level elevations of the Andes mountains.
What is the main economic activity in tropical South America?
Forestry and Fishing. Forestry is the management of trees and other vegetation in forests. It is a major economic activity for tropical South America, especially the Amazon River basin. Many high-value tree species, such as mahogany and rosewood, are native to the rain forest.
What is the economy of South America?
The continent’s economy is centered on the export of natural resource s. Climate and Agriculture. South America extends from a broad equatorial zone in the north to a narrow sub- Arctic zone in the south. It can be divided into four climatic regions: tropical, temperate, arid, and cold.
What are the three bodies of water that South America has?
It also has rich fisheries and port s on three bodies of water: the Caribbean Sea, Atlantic Ocean, and Pacific Ocean. The continent’s economy is centered on the export of natural resource s. Climate and Agriculture.
Mountains and Highlands
Plains For Grain and Livestock
- South America has wide plains that offer rich soil for growing crops and grasses for grazing livestock.
The Amazon and Other Rivers
- The countries of Central America and the Caribbean do not have the extensive river systems that are found in South America. In North America, the Rio Grande, which forms part of the border between the United States and Mexico, is longer than any other river in Mexico, Central America, or the Caribbean. However, these areas are all bordered by water. As a result, they are less depe…
Major Islands of The Caribbean
- The Caribbean Islands consist of three major groups: the Bahamas, the Greater Antilles, and the Lesser Antilles. These islands together are sometimes called the West Indies and were the first land encountered by Christopher Columbus when he sailed to the Western Hemisphere in 1492. They served as a base of operations for the later conquest of the mainland by the Spanish. The …
Resources of Latin America
- Latin America is a treasure house of natural resources. These include mineral resources, such as gold and silver, as well as energy resources, such as oil and natural gas. In addition, the region is rich in agricultural and forest resources, such as timber. These resources have drawn people to the region for centuries.