Economy of North America

This article is a blank template based on the Economy of Europe article, therefore many headings and dates etc. are unnecessary as they reflect key dates and happenings in Europe's economic history.

The economy of North America comprises more than 440 million people in 23 states. It is marked by a sharp division between the northern English-speaking countries of Canada and the United States, which are two of the wealthiest and most developed nations in the world, and the countries of Central America and the Caribbean that are less well off. Mexico lies between these two extremes. Mexico is considered to be an upper-middle income economy and is a part of NAFTA and a member of the OECD. Nevertheless it remains poorer than the United States and Canada, its neighbours to the north.

Economic development

to be completed - dates taken from European version, need to be changed to reflect major economic changes in North America

Regional variation

to be completed

Trade blocs

Asia-Pacific Economic Cooperation

The Asia-Pacific Economic Cooperation (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 to 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, Mexico and the United States.

Caribbean Community

The Caribbean Community (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, Belize, Guyana, Jamaica, Suriname and Trinidad and Tobago) un-officially 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 Lucia and Saint Vincent and the Grenadines) announced their intention to join by the second quarter of 2006. Montserrat, a British Oversees territory is awaiting approval by the United Kingdom. Haiti(suspended) and the Bahamas have no immediate plans to join.

Central American Free Trade Agreement

The Central American Free Trade Agreement (CAFTA) is an agreement between the United States and the Central American countries of Costa Rica, Guatemala, El Salvador, Honduras, and Nicaragua. The treaty is aimed at promoting free trade between its members. Canada and Mexico are negotiating membership.

North American Free Trade Agreement

The North American Free Trade Agreement (NAFTA) is an agreement between Canada, Mexico and the United States to eliminate tariffs on goods traded between themselves.

Although currently only a trade agreement, with no supranational bodies or laws as in the European Union, all three members support proposals to move towards an EU style organisation.

Currency

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 17th November 2004}.

Country	Currency	worth in Euro	worth in USD	Central Bank
Antigua and Barbuda	EC dollar		0.37	Eastern Caribbean Central Bank
Bahamas	Bahamian dollar		1	Central Bank of the Bahamas
Barbados	Barbadian dollar		0.49	Central Bank of Barbados
Belize	Belizean dollar		0.50	Central Bank of Belize
Canada	Canadian dollar			Bank of Canada
Costa Rica	Colón			Banco Central de Costa Rica
Dominica	EC dollar		0.37	Eastern Caribbean Central Bank
Dominican Republic	Dominican peso			Banco Central de la Republica Dominicana
El Salvador	US dollar			The Central Reserve Bank of El Salvador
Grenada	EC dollar		0.37	Eastern Caribbean Central Bank
Guatemala	Quetzal			Banco de Guatemala
Haiti	Gourde			Central Bank of Haiti
Honduras	Lempira			Central Bank of Honduras
Jamaica	Jamaican dollar			Bank of Jamaica
Mexico	Mexican peso			Banco de Mexico
Nicaragua	Córdoba			Banco Central de Nicaragua
Panama	Balboa			National Bank of Panama
Saint Kitts and Nevis	EC dollar		0.37	Eastern Caribbean Central Bank
Saint Lucia	EC dollar		0.37	Eastern Caribbean Central Bank
Saint Vincent and the Grenadines	EC dollar		0.37	Eastern Caribbean Central Bank
Trinidad and Tobago	Trinidad and Tobago dollar			Central Bank of Trinidad and Tobago
United States	US dollar	0.7	1	Federal Reserve System

Table correct as of 17th November 2004

Economic sectors

Agriculture

to be completed

Manufacturing

to be completed

Investing and banking

to be completed

See also

• North America