In 2024, Brazil and Mexico were expected to be the countries with the largest gross domestic product (GDP) in Latin America and the Caribbean. In that year, Brazil's GDP could reach an estimated value of 2.4 trillion U.S. dollars, whereas Mexico's amounted to almost two trillion U.S. dollars. GDP is the total value of all goods and services produced in a country in a given year. It measures the economic strength of a country and a positive change indicates economic growth.

This dataset provides values for GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In 2022, the regional gross domestic product (GDP) in Latin America and the Caribbean grew more than four percent compared to the previous year. In 2020, the GDP of all the subregion shrunk, with Central America being the worst hit by the economic crisis spawned from the coronavirus pandemic, with a real GDP decrease of seven percent. This was the first time that this part of Latin America experiences a GDP fall since at least 2016. Forecasts for 2023 are fairly optimistic as well.

Historical chart and dataset showing Latin America & Caribbean gdp growth rate by year from 1961 to 2023.

As of 2024, three out of ten Latin American and Caribbean cities with the highest local purchasing power were located in Mexico. With an index score of 51.3, people in Querétaro had the highest domestic purchasing power in Mexico. In South America, the city with the highest domestic purchasing power for 2024 was Montevideo, scoring 53 index points.

The average for 2023 based on 10 countries was 53.56 billion U.S. dollars. The highest value was in Brazil: 289.79 billion U.S. dollars and the lowest value was in Suriname: 0.88 billion U.S. dollars. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

Latin America & Caribbean economic growth for 2023 was 7.100 trillion US dollars, a 11.9% increase from 2022.

<ul style='margin-top:20px;'>

<li>Latin America & Caribbean economic growth for 2022 was <strong>6.345 trillion US dollars</strong>, a <strong>13.69% increase</strong> from 2021.</li>
<li>Latin America & Caribbean economic growth for 2021 was <strong>5.581 trillion US dollars</strong>, a <strong>16.14% increase</strong> from 2020.</li>
<li>Latin America & Caribbean economic growth for 2020 was <strong>4.806 trillion US dollars</strong>, a <strong>15.09% decline</strong> from 2019.</li>
</ul>GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

The South America Food Additives Market Report Segments the Industry by Product (Preservatives, Bulk Sweeteners, and More), Form (Dry and Liquid), Source (Natural and Synthetic), Application (Bakery and Confectionery, Dairy and Desserts, Beverages, and More), and by Geography (Brazil, Argentina, Chile, and Rest of South America). The Market Forecasts are Provided in Terms of Value (USD).

The Latin American travel market, valued at $52.18 billion in 2025, is experiencing robust growth, projected to expand at a Compound Annual Growth Rate (CAGR) of 5.41% from 2025 to 2033. This growth is fueled by several key drivers. The rising middle class across various Latin American nations is a significant factor, with increased disposable income leading to greater spending on leisure and travel. Furthermore, improved infrastructure, including enhanced airport facilities and transportation networks in key tourist destinations like Mexico, Brazil, and Peru, is facilitating easier and more convenient travel. Government initiatives promoting tourism, such as visa relaxations and marketing campaigns highlighting cultural heritage and natural attractions, are also contributing to the market's expansion. Emerging trends include a growing preference for sustainable and eco-friendly tourism, a surge in adventure tourism activities catering to millennial and Gen Z travelers seeking unique experiences, and the increasing popularity of experiential travel focusing on immersive cultural interactions. However, the market faces certain restraints. Political instability in some regions, fluctuating exchange rates impacting travel costs, and concerns about safety and security in certain areas can deter potential tourists. The segment breakdown reveals a dynamic landscape: international tourism contributes significantly, driven by global interest in Latin America's diverse offerings, while domestic tourism is also expanding rapidly, fueled by rising local travel preferences. Purpose-based travel segments are diverse, ranging from the growing appeal of adventure tourism to the sustained demand for business travel and conferences, alongside significant family and friend visits. Key players in this market, including international hotel chains like Marriott and Hilton, alongside regional and specialized agencies such as Tangol SRL and Condor Travel, are actively competing to cater to these diverse segments. The competitive landscape is characterized by a mix of large multinational corporations and smaller, specialized travel agencies focusing on niche markets. International hotel chains leverage their global brand recognition and established infrastructure to dominate the accommodation sector. However, smaller, local agencies often possess a deeper understanding of the local culture and can offer more personalized and authentic experiences, attracting a distinct segment of travelers. The market's regional variations are significant, with Brazil and Mexico consistently ranking as the largest markets, attracting a substantial share of both domestic and international tourists. Other countries like Peru, Argentina, and Colombia are also experiencing considerable growth, benefiting from their unique cultural and natural attractions. Future growth will likely be influenced by factors such as economic conditions in both Latin America and key source markets globally, ongoing infrastructure development, and the effectiveness of government tourism policies in addressing challenges like safety and sustainability. The market's success hinges on effectively managing these challenges while capitalizing on the growing demand for unique and authentic travel experiences. The continued expansion of digital platforms and online booking services will also play a crucial role in shaping the future of this dynamic market. This report provides an in-depth analysis of the Latin America travel market, encompassing market size, segmentation, key trends, leading players, and future growth prospects. The market is valued in the billions, with significant opportunities for growth driven by both international and domestic tourism. Recent developments include: In January 2024, Trip.com Group and LATAM Airlines signed a new NDC agreement. Both companies have reached an agreement to give international travellers a contemporary and effective ticketing experience., In January 2023, UNWTO and the Development Bank of Latin America (CAF) have established a new partnership to encourage and maintain investment in tourism throughout Latin America and the Caribbean regions. As part of the collaboration, investment guides for tourism are being created for five nations, Uruguay, Barbados, Ecuador, El Salvador, and Panama.. Key drivers for this market are: Internet Penetration is Driving the Market. Potential restraints include: Government Regulations are Restraining the Market. Notable trends are: Rising Tourism Industry Investment affecting Latin America Travel and Tourism Industry..

Brazil, the most populated country and the economy with the highest GDP in Latin America, had the largest market research revenue in the region in 2022. Out of all the Latin American and Caribbean countries included in the study, Brazil ranked first, with a market research revenue of *** million U.S. dollars, followed by Mexico, with *** million U.S. dollars.

The South America Seed Market report segments the industry into Breeding Technology (Hybrids, Open Pollinated Varieties & Hybrid Derivatives), Cultivation Mechanism (Open Field, Protected Cultivation), Crop Type (Row Crops, Vegetables), and Country (Argentina, Brazil, Rest of South America). Get five years of historical data alongside five-year market forecasts.

The South American challenger bank market, valued at $389.26 million in 2025, is experiencing robust growth, projected to expand significantly over the forecast period (2025-2033) at a Compound Annual Growth Rate (CAGR) of 12.57%. This surge is driven by several key factors. Increasing smartphone penetration and internet access across the region are fostering a digitally savvy population increasingly comfortable with online banking services. Furthermore, the region's underserved populations, lacking access to traditional banking services, present a vast untapped market for challenger banks offering convenient and accessible financial products. The increasing demand for personalized financial solutions and a preference for user-friendly mobile-first banking experiences are additional significant drivers. Competition among established players and the emergence of innovative fintech companies further fuels market dynamism. Growth is segmented across service types (payments, savings, current accounts, credit, loans) and end-users (business and personal segments). Brazil, as the largest economy in South America, is anticipated to hold a dominant market share, followed by other major economies like Argentina, Colombia, and Chile. However, growth potential exists across all countries within the region. Despite the considerable growth potential, the market faces certain challenges. Regulatory hurdles and the need for robust cybersecurity infrastructure remain key restraints. Furthermore, building trust and brand awareness within a market accustomed to traditional banking institutions requires significant investment in marketing and customer acquisition strategies. Nevertheless, the overall positive trajectory of the South American challenger banking sector indicates a promising future for innovative financial institutions catering to the evolving needs of the region's population. The ongoing evolution of financial technology and increasing financial inclusion initiatives will further fuel market growth, attracting significant investment and fostering competition in the years to come. South America Challenger Banks Market: A Comprehensive Report (2019-2033) This comprehensive report provides a detailed analysis of the dynamic South America challenger banks market, encompassing the period from 2019 to 2033. It offers invaluable insights into market size, growth drivers, challenges, and future trends, making it an essential resource for investors, industry professionals, and strategic decision-makers. The report utilizes 2025 as the base year and provides forecasts until 2033, incorporating data from the historical period (2019-2024). This report covers key players such as NU Bank, Uala, Albo, Nequi, DaviPlata, Banco Inter, Neon, C6 bank, and Burbank (list not exhaustive). Recent developments include: In November 2023, N26, a German challenger bank, announced its exit from Brazil, marking the end of its two-year stint in the South American market. This move aligns with N26's strategic shift in geographical focus. The bank made its foray into Brazil in 2021, having obtained a Sociedade de Crédito Direto (SCD) license from the Banco Central do Brasil., In October 2023, Nubank had introduced over 40 new products and features, including innovative credit options like FGTS anniversary withdrawal anticipation and NuConsignado for INSS retirees and pensioners. With operations in Brazil, Colombia, and Mexico, Nubank has exceeded 90 million customers in Latin America, solidifying its position as one of the world's fastest-growing financial services firms.. Notable trends are: Rising Fintech Investments in South America Fueling the Growth.

The average for 2023 based on 12 countries was 0.787 points. The highest value was in Chile: 0.878 points and the lowest value was in Venezuela: 0.709 points. The indicator is available from 1980 to 2023. Below is a chart for all countries where data are available.

The Report Covers Latin America Fintech Market Size & Payment Trends and it is Segmented by Service Proposition (Money Transfer and Payments, Savings and Investments, Digital Lending & Lending Marketplaces, Online Insurance & Insurance Marketplaces, and Others), and by Country (Brazil, Mexico, Argentina, and Rest of Latin America).

The average for 2023 based on 12 countries was -0.47 points. The highest value was in Uruguay: 0.72 points and the lowest value was in Venezuela: -2.15 points. The indicator is available from 1996 to 2023. Below is a chart for all countries where data are available.

The South America Confectionery Market report segments the industry into Confections (Chocolate, Gums, Snack Bar, Sugar Confectionery), Distribution Channel (Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others), and Country (Argentina, Brazil, Rest of South America). Get five years of historical data and five-year market forecasts.

Between 2023 and 2029, all countries located within the South American continent are expected to grow on average by over **** percent, with Chile expected to record the largest market gain. Brazil and Argentina are also amongst the strongest markets, with an expected market increase of **** and *** percent.

The Latin American IT Market is Segmented by Enterprise Size (Large Enterprises and Small and Medium Enterprises), End-user Industry (Retail, Manufacturing, BFSI, Government, IT and Telecom, and Other End-user Industries), and Country.

The South American flavor and fragrance market, valued at approximately $XX million in 2025, is projected to experience robust growth, driven by a compound annual growth rate (CAGR) of 4.75% from 2025 to 2033. This expansion is fueled by several key factors. The burgeoning food and beverage industry across Brazil, Argentina, and the rest of South America is a primary driver, with increasing demand for processed foods, innovative beverage formulations, and enhanced sensory experiences in products like savory foods, dairy products, bakery items, and confectionery. The growing popularity of functional foods and beverages, emphasizing health and wellness, further contributes to market growth. Additionally, the cosmetics and personal care sectors, particularly in Brazil and Argentina, are exhibiting strong growth, propelling demand for high-quality fragrances and flavorings in perfumes, skincare products, and hair care items. While challenges such as economic volatility in certain South American regions and potential supply chain disruptions exist, the overall market outlook remains positive. The preference for natural flavors and fragrances is also influencing market trends, leading to increased innovation and product development in this segment. Competition among established players like Givaudan, Firmenich, and IFF, alongside regional and specialty companies, is fostering innovation and driving product differentiation. The market segmentation reveals significant opportunities. The synthetic flavor and fragrance segment currently holds a larger market share compared to the natural segment, but the latter is experiencing faster growth due to increasing consumer preference for natural and clean-label products. Within applications, the food and beverage sector is the dominant segment, followed by the beauty and personal care industry. Brazil and Argentina are the leading markets, benefiting from a larger population base and higher disposable incomes compared to the rest of South America. The forecast period (2025-2033) indicates a continuous upward trend, promising lucrative investment opportunities for companies engaged in research, development, production, and distribution within the South American flavor and fragrance market. Further growth is anticipated with the expansion of e-commerce and growing middle-class purchasing power. Recent developments include: July 2022: IFF (International Flavor and Fragrance, Inc.), an industry leader in solutions for food, beverages, health, biosciences, and scent, announced an investment of USD 15.8 million in three of its innovation centers in Latin America. The facilities are located in Brazil, Colombia, and Chile. The sites feature state-of-the-art research, application, sensory labs, and pilot plants and offer customers access to complete product-design capabilities., July 2022: Givaudan, Bühler, and Cargill formed a consortium in collaboration with the Food Tech Hub Latam and the Institute of Food Technology (ITAL) to build a food innovation center in the city of Campinas, recognized as Brazils tech powerhouse. The Tropical Food Innovation Lab will be located in ITAL, one of the leading public research institutes in Brazil, in a fully-refurbished 1,300 square meter area. This new hub will be the go-to place in Latin America to connect and develop sustainable food and beverage products., June 2021: Kerry announced the opening of its new taste facility in Latin America, which serves mainly Mexico, Central America, the Caribbean, and the Andean region. The new state-of-the-art facility significantly increased Kerry's capacity in the region and further supported customers in delivering local and sustainable taste solutions.. Notable trends are: Rising Demand for Convenience Food Products.

The average for 2022 based on 12 countries was 76.7 percent. The highest value was in Chile: 99.4 percent and the lowest value was in Dominican Republic: 46.9 percent. The indicator is available from 2000 to 2022. Below is a chart for all countries where data are available.