Top 10 Richest Spanish Speaking Countries In The World
Buenos dias hablas español? Good morning, do you speak Spanish? Who are the richest Spanish speaking countries in the world? The Spanish language is a Romance language that arose from colloquial spoken Latin in Europe’s Iberian Peninsula.
It is now a global language with nearly 500 million native speakers, the majority of whom live in America and Spain.
It is the world’s second most spoken native language after Mandarin Chinese, and the fourth most spoken language overall after English, Mandarin Chinese, and Hindi, as well as the most widely spoken Romance language.
In this article, we are going to be taking a look at the top 10 richest Spanish speaking countries. Here they are:
Mexico is the richest Spanish speaking country in the world. Mexico is the world’s 13th-largest country by area, covering 1,972,550 square kilometers (761,610 square miles).
In April 2018, Mexico had the 15th largest nominal GDP (US$1.15 trillion) and the 11th largest by purchasing power parity ($2.45 trillion).
Agriculture has contributed 4% of the economy over the last two decades, while industry (primarily automotive, oil, and electronics) has contributed 33%, and services (particularly financial services and tourism) have contributed 63%.
According to the International Monetary Fund, Mexico could become the World’s fifth or seventh largest economy by 2050.
Argentina is South America’s second-largest country, after Brazil. Argentina is a sovereign state with twenty-three provinces and one autonomous city, Buenos Aires, which serves as the federal capital and largest city in the country.
The provinces and the capital each have their own constitutions, but they are all part of a federal system. Argentina’s economy is the third-largest in Latin America, and the second-largest in South America, thanks to abundant natural resources and a diverse industrial sector.
Colombia’s GDP (PPP) was $500 billion in 2012. (28th in the world and third in South America). Its main exports include mineral fuels, oils, distillation products, fruit and other agricultural products, sugars and sugar confectionery and textile, fabrics and furniture.
Chile is located on a long, narrow swath of land between the Andes Mountains to the east and the Pacific Ocean to the west. Santiago is the country’s capital and largest city, and Spanish is the official language.
Chile is one of the world’s largest copper mining nations. Copper mining accounts for 20% of Chilean GDP and 60% of exports. Chile has the most economic freedom in South America (ranking 7th worldwide). According to the World Bank, Chile’s economy is a market economy with a high income.
Peru is one of the richest Spanish speaking countries in the world. At 1.28 million km2 (0.5 million mi2), Peru is the 19th largest country in the world and the third-largest in South America. Peru has a population of 33 million, and its capital and largest city is Lima.
Its habitats range from the arid plains of the Pacific coastal region in the west to the peaks of the Andes mountains.
Peru’s economy is the 48th largest in the world (based on purchasing power parity), and the World Bank classifies its income level as upper-middle. Peru is one of the world’s fastest-growing economies as of 2011, thanks to an economic boom in the 2000s.
It has a higher-than-average Human Development Index of 0.77, which has steadily improved over time. Exports have historically been linked to the country’s economic performance because they provide hard currency to finance imports and external debt payments.
6. Costa Rica
Costa Rica is bounded to the north by Nicaragua, to the northeast by the Caribbean Sea, to the southeast by Panama, to the southwest by the Pacific Ocean, and to the south by Ecuador.
San José, the capital and largest city, is home to an estimated 333,980 people, with a population of around two million in the surrounding metropolitan area.
The country has been regarded as economically stable, with moderate inflation, estimated at 2.6 per cent in 2017, and moderately high GDP growth, increasing from $41.3 billion in 2011 to $52.6 billion in 2015.
The GDP for 2018 is expected to be US$59.0 billion, with an estimated GDP per capita (purchasing power parity) of Intl.1. Many foreign companies operate in Costa Rica’s Free Trade Zones (FTZs), where they can take advantage of investment and tax breaks.
According to the government, the zones supported over 82,000 direct jobs and 43,000 indirect jobs in 2015, with the United States accounting for well over half of that investment.
Companies with facilities in the America Free Zone in Heredia, for example, include Intel, Dell, HP, Bayer, Bosch, DHL, IBM, and Okay Industries.
Uruguay is a country in South America. It has a population of 3.51 million, of whom 2 million live in its capital and largest city, Montevideo. Uruguay experienced a major economic and financial crisis between 1999 and 2002.
Between 2007 and 2009, Uruguay was the only country in America that did not technically experience a recession (two consecutive downward quarters).
The growth, use, and sale of cannabis were legalized on 11 December 2013 making Uruguay the first country in the world to fully legalize marijuana.
Panama’s capital and largest city is Panama City, home to nearly half the country’s 4 million people. The handover of the Canal and military installations by the US has given rise to large construction projects.
A project to build a third set of locks for the Panama Canal A was overwhelmingly approved in a referendum on October 22, 2006.
The official estimated cost of the project is US$5.25 billion, but the canal is of major economic importance because it provides millions of dollars of toll revenue to the national economy.
Venezuela is also one of the richest Spanish speaking countries in the world. Venezuela is a country on the northern coast of South America, consisting of a continental landmass and many islands and islets in the Caribbean Sea.
Per capita GDP for 2016 was estimated at US$15,100, ranking 109th in the world.
As of 2011, more than 60% of Venezuela’s international reserves was in gold. The first of US$11 billion of repatriated gold bullion arrived in Caracas; Chávez called the repatriation of gold a “sovereign” step that will help protect the country’s foreign reserves from the turmoil in the U.S. and Europe.
However, government policies quickly spent down this returned gold and in 2013 the government was forced to add the dollar reserves of state owned companies to those of the national bank to reassure the international bond market.
Paraguay is one of only two landlocked countries in South America. It has a population of 7 million, nearly 3 million of whom live in the capital and largest city of Asunción.
Paraguay is the fifth-largest soybean producer in the world and the second-largest producer of stevia. The country has a GDP of about 100 million USD per annum.