Latin America is expected to face a year followed with lower economic growth along with much weaker public finances, which in turn, will lead to the potential downfall of the region in sovereign ratings. Based on industry classification, the Latin American economy is classified into automobile, food & beverage, construction, oil & gas, aviation, retail, travel and tourism, and others. Latin America generates its economic growth from the oil, manufacturing, tourism, and agricultural industry. The region has nearly 15% of oil resources of the world and exports its oil and related commodities to the US, China, and other countries.