The resources that make significant contributions to domestic economies and regional job sectors include fisheries, agriculture, forestry, mining and oil and gas bauxite, iron, nickel, petroleum and timber, among others.
The attention by regional governments towards economic diversification in the early 1990s is often associated with increased production in tourism, oil, and nickel, spurred by foreign investment in these primary industries.
However, unlike many developed countries, this trend may be accounted for by a growing tertiary sector, as opposed to industrial growth, except for Trinidad and Tobago and Mexico.
A recent example includes the dismantling of the Lomé Convention, which provided Caribbean Banana exports preferential treatment from the EU, by the WTO in 1999.
Recent studies have also looked at the qualitative difference of capitalist globalization in comparison to earlier eras of capitalism, and shown how the region is becoming enmeshed in the accumulation chains of transnational business elites.
[2] The European Investment Bank is also collaborating with the national government to fund $60 million in emergency healthcare spending connected to the COVID-19 pandemic.
Due to the lack of economic opportunity and low GDP per capital levels, Caribbean people are traveling in large numbers to developed countries.
Historically, the Caribbean's banana industry has been one of the biggest exports; however, agriculture is beginning to decline in the world economy.
Educational opportunities for health care allow women in the Caribbean to receive advanced knowledge on nursing and their degrees are recognized in their host countries.
Income earned in host countries is usually enough for a female immigrant from the Caribbean to live off of and still send remittances back home.
Lately, however, there been serious deficiencies and neglect in the health care market due to Caribbean nurses staying abroad after pursuing their education.