The Pacific Alliance: the New Star among Integration Groupings

... in 2013) makes up half of the region’s total and significantly exceeds the turnover of the five Mercosur members, whose economies are more closed [2] . The average annual per capita income of the Alliance exceeds 10 thousand dollars and 14 thousand dollars in terms of the purchasing power parity. That's a pretty large market for foreign investors and exporters. Pacific Alliance member-countries enjoy the highest rates of economic growth in Latin America. In 2010-2013, the average annual GDP growth in Peru was 6 per cent, in Chile and Colombia – about 5 per cent, while in Panama and Costa Rica (both countries are in the process of becoming full members) – 9 and 5 per cent, respectively....