The Pacific Alliance – comprising Chile, Colombia, Mexico, and Peru – represents nearly 40% of Latin America’s GDP, having grown at an average annual rate of 2.9% since 2000. Mercosur’s five economies – Argentina, Brazil, Paraguay, Uruguay, and Venezuela – account for roughly 50% of the region’s GDP, and grew by an average of roughly 3.4% per year during the same period, although growth has slowed since 2010.