In 2023, Puerto Rico and The Bahamas were the states with the highest gross domestic product (GDP) per capita in Latin America and the Caribbean. The average GDP generated per person in the Bahamas amounted to 34,749 U.S. dollars, whereas the average wealth created per capita in Puerto Rico was estimated at around 34,749 U.S. dollars. In that same year, this region's lowest GDP per capita was that of Haiti, at less than 1,693 U.S. dollars per person per year. The largest economies in Latin America GDP is the total value of all goods and services produced in a country in a year. It is an important indicator to measure the economic strength of a country and the average wealth of its population. By far, the two largest economies in the region are Brazil and Mexico, both registering GDPs three times bigger than the third place, Argentina. Nonetheless, they are the two most populated countries by a great margin.
Key economic indicators of Latin America Latin America emerges as an important region in the world economy, as of 2023, around 7.3 percent of the global GDP, a similar share to the Middle East. Nevertheless, the economic development of most of its countries has been heavily affected by other factors, such as corruption, inequality, inflation, or crime and violence. Countries such as Venezuela, Suriname, and Argentina are constantly ranking among the highest inflation rates in the world. While Jamaica, Ecuador, and Haiti rank as some of the most crime-ridden states.

The statistic shows gross domestic product (GDP) per capita in the Association of Caribbean States in 2023. GDP is the total value of all goods and services produced in a country in a year. It is considered to be a very important indicator of the economic strength of a country and a positive change is an indicator of economic growth. The Association of Caribbean States comprises Antigua and Barbuda, Bahamas, Barbados, Belize, Colombia, Costa Rica, Cuba, Dominica, Dominican Republic, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, Trinidad and Tobago and Venezuela. In 2023, GDP per capita in Barbados amounted to around 23,167.3 U.S. dollars.

Graph and download economic data for Constant GDP per capita for Developing Countries in Latin America and Caribbean (NYGDPPCAPKDLAC) from 1960 to 2023 about Caribbean Economies, Latin America, per capita, and GDP.

In 2023, four Caribbean nations were the countries with the highest gross national income per capita in Latin America and the Caribbean. On average, the national gross income amounted to around 31,990 U.S. dollars per person in the Bahamas, an island country which also had one of the highest gross domestic product per capita in this region. Outside the Caribbean Excluding the Caribbean, the economies with the highest national income per capita are generally located in South America, with the exceptions of Panama, Costa Rica and Mexico. Guyana leads among continental states with a national income of around 20.360 U.S. dollars per person. Gross national income (GNI) is the aggregated sum of the value added by residents in an economy, plus net taxes (minus subsidies) and net receipts of primary income from abroad. The biggest economies Brazil and Mexico are still miles ahead in the race for the biggest economy of Latin America. As of 2023, both nations exceeded the two trillion U.S. dollars mark in their Gross Domestic Product (GDP). While Argentina's GDP, third place, slightly surpassed the 600 billion U.S. dollars. Nonetheless, both nations also ranked as the most populated by far in the region.

Graph and download economic data for Gross Domestic Product Per Capita for Developing Countries in Latin America and Caribbean (NYGDPPCAPCDLAC) from 1960 to 2023 about Caribbean Economies, Latin America, per capita, and GDP.

Constant GDP per capita for Developing Countries in Latin America and Caribbean was 8562.81505 2010 U.S. $ in January of 2023, according to the United States Federal Reserve. Historically, Constant GDP per capita for Developing Countries in Latin America and Caribbean reached a record high of 8562.81505 in January of 2023 and a record low of 3146.02676 in January of 1960. Trading Economics provides the current actual value, an historical data chart and related indicators for Constant GDP per capita for Developing Countries in Latin America and Caribbean - last updated from the United States Federal Reserve on July of 2025.

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 table shows the gross domestic product (GDP) per capita of Bonaire, St. Eustatius, Saba and total Caribbean Netherlands. GDP is a macroeconomic concept.

Note: GDP per capita has been calculated in all years using the most current figures for GDP and population size. No correction has been made for the following two breaks in population time series: - Between 1 January 2015 and 1 January 2016, the population register of St. Eustatius was updated. As a result, approximately 600 individuals were classified as emigrants. These people were still registered in the population register of St. Eustatius, but a check-up revealed that they did not live on the island anymore. - Between 1 Januari 2018 en 1 Januari 2019, the population register of both St. Eustatius and Saba was updated. As a result, approximately 200 individuals on Sint Eustatius and over 200 individuals on Saba were classified as emigrants. These people were still registered in the population register of respectively St. Eustatius and Saba, but a check-up revealed that they did not live on these islands anymore.

Data available from: 2012

Status of the figures: The figures in this table are final.

Changes as of 26 September 2024: Data of 2022 have been added to this table.

When will new figures be published? New figures of the GDP per capita of 2023 will be published in the autumn of 2025.

Guyana was the South American country 20360the highest gross national income per capita, with 20,360 U.S. dollars per person in 2023. Uruguay ranked second, registering a GNI of 19,530 U.S. dollars per person, based on current prices. Gross national income (GNI) is the aggregated sum of the value added by residents in an economy, plus net taxes (minus subsidies) and net receipts of primary income from abroad. Which are the largest Latin American economies? Based on annual gross domestic product, which is the total amount of goods and services produced in a country per year, Brazil leads the regional ranking, followed by Mexico, Argentina, and Chile. Many Caribbean countries and territories hold the highest GDP per capita in this region, measurement that reflects how GDP would be divided if it was perfectly equally distributed among the population. GNI per capita is, however, a more exact calculation of wealth than GDP per capita, as it takes into consideration taxes paid and income receipts from abroad. How much inequality is there in Latin America? In many Latin American countries, more than half the total wealth created in their economies is held by the richest 20 percent of the population. When a small share of the population concentrates most of the wealth, millions of people don't have enough to make ends meet. For instance, in Brazil, about 5.32 percent of the population lives on less than 3.2 U.S. dollars per day.

This statistic shows the gross domestic product (GDP) per capita in selected world regions in 2023. In North America, the gross domestic product per capita in 2023 amounted to approximately 79,640.43 U.S. dollars.

This scatter chart displays health expenditure (% of GDP) against health expenditure per capita (current US$) in Caribbean. The data is about countries.

This scatter chart displays military expenditure (% of GDP) against health expenditure per capita (current US$) in Caribbean. The data is about countries.

This statistic shows gross domestic product (GDP) of Latin America and the Caribbean from 2020 to 2030 in billion U.S. dollars. In 2024, Latin America and the Caribbean's GDP amounted to about 6.76 trillion U.S. dollars.

This statistic shows the average inflation rate in Nicaragua from 1987 to 2024, with projections up until 2030. In 2024, the average inflation rate in Nicaragua amounted to about 4.64 percent compared to the previous year. Nicaragua's economy Nicaragua’s inflation rate has been on the decline since 2011, but it is expected to rise again in 2016. In 2011, the country's economy experienced higher than average annual growth, which most likely helped increase consumer confidence and may have correlated with a decrease in the inflation rate. In general, consumer confidence is rising because GDP per capita has also been increasing steadily and is expected to continue to do so in the future. However, living conditions of Nicaraguans are still far from ideal, and the country struggles to overcome its reputation as one of the poorest nations in the region. GDP per capita in Nicaragua remained under 2,000 U.S. dollars per capita in 2014; only a fraction of GDP for Latin America and the Caribbean as a whole, which was slightly over 10,000 U.S. dollars per capita that same year. Yet, while per capita GDP is low, the country reports average unemployment and typically, when unemployment is low, consumer confidence increases and prices rise. However, it is likely that any increase in inflation will still have a significant effect on the poor, even if GDP rises.

This bar chart displays military expenditure (% of GDP) by capital city using the aggregation average, weighted by gdp in Caribbean. The data is about countries.

This horizontal bar chart displays health expenditure (% of GDP) by capital city using the aggregation average, weighted by gdp in Caribbean. The data is about countries per year.

This bar chart displays tax revenue (% of GDP) by capital city using the aggregation average, weighted by gdp in Caribbean. The data is about countries.

This statistic shows the median age of the population in Brazil from 1950 to 2100. The median age is the age that divides a population into two numerically equal groups; that is, half the people are younger than this age and half are older. It is a single index that summarizes the age distribution of a population. In 2020, the median age of the Brazilian population was 32.7 years. Brazil as a developing nation The average age of the Brazil’s population has risen from a low of 16.8 years in 1965 to 32.4 years in 2020, a typical change in developing nations, and other demographic parameters support this trend: As of 2014, the share of children under 14 years of age stood at around 23.5 percent, a great improvement from earlier times. Since 2005, the fertility rate has also dropped significantly, but now it is even lower than the natural replacement rate at 1.78 children per woman. Over the same period of time, life expectancy has also risen to 74.4 years of age - higher than the average for developing nations. These changes typically happen as a result of developing countries becoming more modernized and economically diverse. Brazil’s economy had been getting significantly stronger and per capita GDP peaked in 2011 at a much higher value than the regional average for Latin America and the Caribbean. However, the Brazilian economy has reached a difficult point, and GDP per capita is expected to fall to as low as 7,447 U.S. dollars in 2016. As Brazil’s demographics are now similar to other developing countries, the economy has not been able to maintain a similar path to steady growth.

Venezuela was the most indebted country in Latin America and the Caribbean based on total government debt as a percentage of gross domestic product (GDP). The lowest general government debt to GDP ratio in the region was found in Haiti, where the total public debt accounted for only **** percent of the country's GDP as of 2024.

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.