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South America Economy





The manufacturing industries, agriculture, and trade primarily support the economy of South America. The economies of many South American countries are based on export of goods, primarily the export of agricultural products. Brazil and Argentina lead in the export of goods to other nations. Some of the major agricultural products include sugarcane, corn, wheat, soybean, and coffee. South America's mineral resources also contribute substantially to the economy. Some major mineral resources found in South America are petroleum, gold, iron ore, silver, and copper.

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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