Brazil has the largest economy in South America. Due to Brazil's high birth rate, the mortality rate is also high. Some people have limited access to adequate health care and clean water, making Brazil a developing country. Of the 18 Latin American countries evaluated by MIT, only eight have a positive economic reading, and Nicaragua and Venezuela rank the lowest in terms of economic complexity.
Mexico has the highest economic complexity and leads the ranking in Latin America with a score of 1.09, although it is in 23rd position worldwide. However, not all Latin American countries have a wide range of products to export, let alone sophisticated goods or services, since most countries in the region mainly export raw materials.