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North American Economy

The North American economy is characterized by a great diversity of products and services, a strong use of technology and a workforce, in general, specialized. There is also a great regional disparity when we compare the productive capacity of the countries in the north, Canada and the United States, and Mexico, in the south. Even within countries we have regional inequalities, since all have territories of continental proportions. In 1992, these countries created the Northern American Free Trade Agreement (NAFTA abbreviated by AbbreviationFinder.org), a free market agreement that provides for the end of tariff barriers between the three countries.

Industry

The great economic engine of the North American continent is undoubtedly the strong industry in Canada and the United States, especially the latter. With a high use of cutting edge technology and specialized labor, these two countries are responsible for a large part of the manufactured items of the American continent - which also has South and Central America.

We can highlight products with high added value, such as automobiles, appliances and electronics. With regard to heavy industry, these industrial parks are located mainly in the northeast of the United States and southeast of Canada, in the Great Lakes region, and also in the southwest of the United States, more precisely in Silicon Valley, California.

The Mexican industry is one of the most developed in Latin America, however it does not stand up to its northern neighbors and is characterized mainly by the production of textiles, industrialized foods and chemicals, concentrated in the region of Mexico City and Guadalajara. A characteristic of the Mexican industry is the production units specialized in finalizing the assembly of imported products, the maquiladoras. This type of industry had a great boost with the entry of Mexico in NAFTA, these units are concentrated in northern Mexico, mainly in the state of Sonora.

Agriculture

North America has a diversified agriculture, cultivating corn, soybeans, and wheat on the plains of southern Canada and the midwestern United States, in addition to the production of warm climate fruits in California and the southwestern United States, and cold climate fruits in the Great Lakes region and on the northeastern coast of the USA and southeastern Canada. Agriculture in these countries has a strong technological apparatus and many government subsidies to maintain competitiveness in both the domestic and foreign markets. Mexico produces a wide variety of agricultural crops such as beans and corn, the basis of the Mexican population's diet, in addition to coffee, fruit, cotton, sisal and soy. These last three are mainly for export. Mexico, like most of Latin America, suffers from a serious concentration of land, making it difficult to develop sustainable agriculture. Livestock is very present in the North American continent, with a strong presence of sheep herds in southern Canada and, mainly, of cattle in the central west and southeast of the USA, with a strong production of milk and dairy products. This sector, as well as in agriculture, has a strong use of technology. In Mexico, the presence of cattle and pigs stands out.

Mining and Oil

North America has large reserves of minerals, such as oil in the southern center and Alaska, the United States, western Canada and eastern Mexico, and natural gas in the same spaces where oil reserves are found. The Gulf of Mexico is full of oil extraction platforms. The uranium is much explored in northern Canada, as well as silver in the desert regions of Mexico. It is also possible to find deposits of coal, iron, copper, nickel, lead and zinc in different regions of North America.

Countries in North America
  1. Antigua and Barbuda
  2. Bahamas
  3. Barbados
  4. Belize
  5. Canada
  6. Costa Rica
  7. Cuba
  8. Dominica
  9. Dominican Republic
  10. El Salvador
  11. Greenland
  12. Grenada
  13. Guatemala
  14. Haiti
  15. Honduras
  16. Jamaica
  17. Mexico
  18. Nicaragua
  19. Panama
  20. Saint Kitts and Nevis
  21. Saint Lucia
  22. Saint Vincent and the Grenadines
  23. Trinidad and Tobago
  24. United States

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