Latin America is the most unequal region in the world. Inequality is impeding the region’s economic growth. Poverty is one of the main challenges faced by many Latin American nations.
Here is a brief overview of the top 10 largest economies in Latin America as of 2014, ranked according to their GDP (nominal).
The economy of Cuba is a largely centrally planned economy, which is dominated by state-run enterprises. Capital investment is restricted and requires approval by the government.
Oil accounts for around 40 percent of Ecuador’s exports. The nation is a major exporter of banana. The industry is concentrated mainly in Guayaquil. The nation serves on the World Trade Organization.