South America has a rapidly developing
economy. With many
industries and a flourishing
trade and
import-export market, it is fast becoming a
economy with considerable size.
South American countries had a slow pace of
economic development in the past. In recent times, however,
South America has as a whole undergone rapid
economic development. Aided by greater
economic independence since the times of the second World War, South
America has been largely successful in developing its
economy rapidly.
The biggest individual
economies in
South America are those of Brazil, Argentina, Colombia and Chile.
Currently undergoing massive growth are the
economies of Argentina, Venezuela and Peru. Major
industries in
South America are agriculture, which encompasses a vital part of the
economy, and other important
industries like fishing, natural resources, handicrafts etc.
Trade is also an important part of the
economy.
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