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 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 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.

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

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.

Latin America & Caribbean gdp growth rate for 2023 was 2.09%, a 1.88% decline from 2022.

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<li>Latin America & Caribbean gdp growth rate for 2022 was <strong>3.96%</strong>, a <strong>3.09% decline</strong> from 2021.</li>
<li>Latin America & Caribbean gdp growth rate for 2021 was <strong>7.05%</strong>, a <strong>13.64% increase</strong> from 2020.</li>
<li>Latin America & Caribbean gdp growth rate for 2020 was <strong>-6.59%</strong>, a <strong>7.28% decline</strong> from 2019.</li>
</ul>Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP 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.

Graph and download economic data for Gross Domestic Product: All Income Levels for Latin America and Caribbean (NYGDPMKTPCDLCN) from 1960 to 2023 about Caribbean Economies, Latin America, gross, domestic, production, and income.

The average for 2023 based on 19 countries was 0.33 percent. The highest value was in Brazil: 2.08 percent and the lowest value was in Haiti: 0.02 percent. The indicator is available from 1980 to 2023. Below is a chart for all countries where data are available.

The average for 2023 based on 18 countries was 8.01 percent. The highest value was in Nicaragua: 26.18 percent and the lowest value was in Chile: 0.02 percent. The indicator is available from 1970 to 2023. Below is a chart for all countries where data are available.

As of April 2021, Mexico's gross domestic product (GDP) was forecasted to increase by five percent during 2021. Mexico was one of the Latin American countries that faced the worst recession after the COVID-19 pandemic, as its GDP fell over eight percent in 2020. Among the biggest economies in the region, Brazil was expected to experience one of the lowest GDP growth in 2021, at around 3.7 percent.

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The average for 2023 based on 19 countries was 9351.03 U.S. dollars. The highest value was in Puerto Rico: 30122.84 U.S. dollars and the lowest value was in Haiti: 1210.03 U.S. dollars. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

Graph and download economic data for Constant GDP per capita: All Income Levels for Latin America and Caribbean (NYGDPPCAPKDLCN) from 1960 to 2023 about Caribbean Economies, Latin America, per capita, income, and GDP.

The average for 2021 based on 17 countries was 48.16 percent. The highest value was in Bolivia: 77.91 percent and the lowest value was in Haiti: 24.17 percent. The indicator is available from 1960 to 2021. Below is a chart for all countries where data are available.

The average for 2021 based on 19 countries was 7.85 percent. The highest value was in Brazil: 9.89 percent and the lowest value was in Haiti: 3.48 percent. The indicator is available from 2000 to 2022. Below is a chart for all countries where data are available.

This statistic shows the share of economic sectors in gross domestic product (GDP) in Latin America & Caribbean from 2013 to 2023. In 2023, the share of agriculture in Latin America & Caribbean's gross domestic product was 6.51 percent, industry contributed approximately 31.04 percent and the services sector contributed approximately 65.43 percent.

The average for 2022 based on 17 countries was -3.33 percent. The highest value was in Bolivia: 2.1 percent and the lowest value was in Chile: -8.7 percent. The indicator is available from 1960 to 2024. 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.

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<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.

Historical chart and dataset showing Latin America & Caribbean GDP per capita by year from 1960 to 2023.

The average for 2023 based on 18 countries was -4.91 percent. The highest value was in Puerto Rico: 6.12 percent and the lowest value was in Honduras: -23.93 percent. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

NY.GDP.MKTP.KD.ZG. Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2015 prices, expressed in U.S. dollars. GDP 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. The Gender Statistics database is a comprehensive source for the latest sex-disaggregated data and gender statistics covering demography, education, health, access to economic opportunities, public life and decision-making, and agency.