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Peru in Latin American Ranking: Openness of the Economy 2009

The degree of openness, ie the resulting ratio of total Exports and imports of both goods and services, and divide that amount by the Gross Domestic Product (GDP) reflects the weight of the external sector in an economy. A high rating indicates that this has strong links with the rest of the world, to sell a significant portion of goods and services produced, and also important to buy a portion of those required.

As discussed below, with data published by the Economic Commission for Latin America and the Caribbean (ECLAC) in its Statistical Yearbook 2010, countries in our region are very open in this respect, but also some quite focused on their domestic market. While the greatest weight in the relationship it has export and import of goods, in some cases is also significant movement of services.
Data refer to 2009, when something unusual, because the crisis considerably reduced the foreign trade. However, why not stop being a good reference about the external orientation of the various nations of the area.

As shown in the table, countries are economically small holders of the highest degrees of openness. It happens that their flows of goods and services (especially exports of the latter) are indeed important in comparison to its GDP. The most open of all is Panama, whose ratio was 145.4%, showing that the sum total of goods and services exports and imports exceeded comfortably to your product. Without doubt, this has much to do with the fact that the country is a major financial center and a focal point of trade and international transport. Honduras is another country where ratio exceeds 100%.

In larger countries, the degree of economic openness are much lower. Also, it flows of goods are much more important than service. In Mexico, this indicator is 57% and is mainly due to their trade (exports represent only about 25% of its GDP, confirming its status as the main regional exporter), as its only service flow bordering the 5% of the total.

contrast, Brazil is the most focused inward. There, the aperture ratio is low at 22.6%, which is easily verified just noting that its exports are close to 10% of its product.

Of the seven major countries in the region, Chile is the holder of the highest open rate, which reached 68.5%. His status as a major exporter of mining and its high political openness to imports explain the data, the flow of services, however, are of minor importance.

Venezuela, Argentina and Colombia recorded degrees of openness below 40%. However, in the prairie country the indicator exceeded 60% in 2005, with the help of the high price of oil. Service flows, however, there are lower weight throughout the region.

In Peru, the aperture ratio is 43.3% and was mainly in the movement of goods, for the service, although it is growing significantly, it still represents a small percentage. It should be noted that the degree of openness in our country was 33.4% in 2002, and reached 53.4% \u200b\u200bin 2008, after which it decreased due to the international crisis.