The name Latin America is derived from the languages spoken in different parts of the American continent. In North America, only Mexico is included in this context, in addition to all of Central and South America. This means that they are Latin-speaking countries, such as Portuguese, French and Spanish. The countries that make up Latin America have similarities in terms of underdevelopment, such as a fragile and backward economy, social and political problems.
In Latin America, subsistence agriculture was developed, including hunting, fishing and gathering. With the arrival of European colonizers, most Latin countries started to cultivate products destined for export, with the objective of making a profit.
Two forms of production are identified, one aimed at the foreign market (monoculture) and the other aimed at domestic supply (polyculture).
Latin countries are major exporters of primary products. In addition, they had a late industrialization in relation to developed nations, which is why Latin America became dependent.
current economy
Significant changes were recently made in Latin agriculture that promoted profound changes in space and economy. The changes occurred as a result of the insertion of machines, technologies, implements, agricultural inputs (herbicides, fertilizers, insecticides among others) and management techniques, which resulted in increased productivity and, consequently, of profits.
Livestock today occupies a prominent place, an activity practiced in a semi-intensive way, European bovine breeds are raised in cold climate regions and the Zebu breed in tropical climate areas.
Another very widespread economic activity in practically all Latin American countries is extractivism and mining. There is a large internally developed commercial flow between the Latin components, since there is a dependence on some ores, in addition to their export to various places in the world.
The industrial sector is divided into traditional and processing industries. They act in the production of raw material from the processing of ores or agricultural products, including those that produce consumer goods, such as the traditional food and textile industries, although some countries have a more diversified, ranging from basic industry to cutting-edge technology, with these characteristics we have Brazil, Argentina and the Mexico.
By Eduardo de Freitas
Graduated in Geography
Source: Brazil School - https://brasilescola.uol.com.br/geografia/economia-da-america-latina.htm
