The economy of the Americas comprises more than 1 billion people in 35 different countries and 18 territories. Sometimes divided into the continents of North America and

South America South America is a continent entirely in the Western Hemisphere and mostly in the Southern Hemisphere, with a relatively small portion in the Northern Hemisphere at the northern tip of the continent. It can also be described as the sout ...

depending on the source, like other continents, the

wealth Wealth is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions. This includes the core meaning as held in the originating Old English word , which is from an I ...

between the states in the Americas varies considerably, with significant wealth inequality within nations. The difference in wealth across the Americas can be seen roughly between the economies of North America and

, with the countries in the former (most notably the United States) significantly better off than those in the latter.

Economic development

Regional variation

Economic Integration

Asia-Pacific Economic Cooperation

The

Asia-Pacific Economic Cooperation The Asia-Pacific Economic Cooperation (APEC ) is an inter-governmental forum for 21 member economies in the Pacific Rim that promotes free trade throughout the Asia-Pacific region.

(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 and five percent in the Asia-Pacific area for industrialised economies by 2010 and for developing economies by 2020. The organisation has members from four continents, those from North America are

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...

Mexico Mexico (Spanish: México), officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatema ...

and the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...

Caribbean Community

The

Caribbean Community The Caribbean Community (CARICOM or CC) is an intergovernmental organization that is a political and economic union of 15 member states (14 nation-states and one dependency) throughout the Caribbean. They have primary objectives to promote econo ...

(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"''. - On January 1, 2006 six members: (

Barbados Barbados is an island country in the Lesser Antilles of the West Indies, in the Caribbean region of the Americas, and the most easterly of the Caribbean Islands. It occupies an area of and has a population of about 287,000 (2019 estimate) ...

Belize Belize (; bzj, Bileez) is a Caribbean and Central American country on the northeastern coast of Central America. It is bordered by Mexico to the north, the Caribbean Sea to the east, and Guatemala to the west and south. It also shares a wate ...

, Guyana,

Jamaica Jamaica (; ) is an island country situated in the Caribbean Sea. Spanning in area, it is the third-largest island of the Greater Antilles and the Caribbean (after Cuba and Hispaniola). Jamaica lies about south of Cuba, and west of His ...

, Suriname and

Trinidad and Tobago Trinidad and Tobago (, ), officially the Republic of Trinidad and Tobago, is the southernmost island country in the Caribbean. Consisting of the main islands Trinidad and Tobago, and numerous much smaller islands, it is situated south of ...

) unofficially 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 Kitts and Nevis (), officially the Federation of Saint Christopher and Nevis, is an island country and microstate consisting of the two islands of Saint Kitts and Nevis, both located in the West Indies, in the Leeward Islands chain ...

, Saint Lucia and

Saint Vincent and the Grenadines Saint Vincent and the Grenadines () is an island country in the Caribbean. It is located in the southeast Windward Islands of the Lesser Antilles, which lie in the West Indies at the southern end of the eastern border of the Caribbean Sea w ...

) announced their intention to join by the second quarter of 2006. Montserrat, a British Oversees territory is awaiting approval by the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the European mainland, continental mainland. It comprises England, Scotlan ...

. Haiti and

the Bahamas The Bahamas (), officially the Commonwealth of The Bahamas, is an island country within the Lucayan Archipelago of the West Indies in the North Atlantic. It takes up 97% of the Lucayan Archipelago's land area and is home to 88% of the ar ...

have no immediate plans to join.

Central American Free Trade Agreement

The

Central American Free Trade Agreement Central is an adjective usually referring to being in the center of some place or (mathematical) object. Central may also refer to: Directions and generalised locations * Central Africa, a region in the centre of Africa continent, also known as ...

(CAFTA) is an agreement between the

and the Central American countries of Costa Rica, Guatemala, El Salvador, Honduras, and

Nicaragua Nicaragua (; ), officially the Republic of Nicaragua (), is the largest country in Central America, bordered by Honduras to the north, the Caribbean to the east, Costa Rica to the south, and the Pacific Ocean to the west. Managua is the countr ...

. The treaty is aimed at promoting

free trade Free trade is a trade policy that does not restrict imports or exports. It can also be understood as the free market idea applied to international trade. In government, free trade is predominantly advocated by political parties that hold econ ...

between its members.

and

are negotiating membership.

United States Mexico Canada Agreement

The United States Mexico Canada Agreement (USMCA) is an agreement between Canada, Mexico and the United States to eliminate tariffs on goods traded between themselves as well as environmental and worker protections. Although currently only a trade agreement, with no supranational bodies or laws as in the

European Union The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been de ...

, there have been various proposals to move towards a

customs union A customs union is generally defined as a type of trade bloc which is composed of a free trade area with a common external tariff.GATTArticle 24 s. 8 (a) Customs unions are established through trade pacts where the participant countries set up ...

or a North American currency union. It is unknown whether or not this may eventually develop into a

North American Union The North American Union (NAU) is a theoretical economic and political continental union of Canada, Mexico and the United States, the three largest and most populous countries in North America. The concept is loosely based on the European Union, o ...

similar to that of

Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a subcontinent of Eurasia and it is located entirel ...

Currency and Central Banks

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 12 April 2008}. This list may vary as it is not current. ''Table correct as of 12 April 2008''

Stock exchanges

Economic sectors

Agriculture and fishing

Manufacturing

Investing and banking

Global trade relations

The bulk of the American trade is done internally, between North America and South America, and also with Europe and China.

References

{{DEFAULTSORT:Economy of the Americas

Americas The Americas, which are sometimes collectively called America, are a landmass comprising the totality of North and South America. The Americas make up most of the land in Earth's Western Hemisphere and comprise the New World. Along with th ...