In 2025, 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 2.3 trillion U.S. dollars, whereas Mexico's amounted to almost 1.8 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.

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.

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.

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 Central government debt, total (% of GDP) for Caribbean Small States (GCDODTOTLGDZSCSS) from 2006 to 2007 about Caribbean Economies, debt, government, and GDP.

This bar chart displays GDP (current US$) by country full name using the aggregation sum in Caribbean. The data is about countries.

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.

This table shows the gross domestic product (GDP) on an annual basis of Bonaire, St. Eustatius, Saba and total Caribbean Netherlands. GDP is a macroeconomic concept. The volume change of GDP is a measure of a country's economic growth. This volume change is relative to the previous year. 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 of 2023 will be published in the autumn of 2025.

Historical dataset showing Latin America & Caribbean GDP by year from 1960 to 2023.

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

In 2023, the combined contribution of the travel and tourism sector to the gross domestic product (GDP) in Latin America and the Caribbean amounted to approximately 714 billion U.S. dollars. Based on the contribution value in constant 2023 prices, the travel and tourism sector is expected to grow by 3.9 percent in the following year.

This dataset is about countries in Caribbean. It has 13 rows. It features 3 columns: GDP, and inflation.

This scatter chart displays expense (% of GDP) against unemployment (% of total labor force) in Caribbean. The data is about countries.

This table contains the gross domestic product (GDP) per capita on an annual basis of Bonaire, Sint Eustatius, Saba and for the entire Caribbean Netherlands. GDP is a macroeconomic concept. Note: GDP per capita is calculated in all years using the most up-to-date figures of GDP and population size. No adjustment has been made for the following two trend breaks in population size: - Between January 1, 2015 and January 1, 2016, a clean-up of the population administration took place on Sint Eustatius. About 600 people have been designated as emigrants. In 2015, these persons were still registered in the population administration of Sint Eustatius, but were found no longer to live on this island during a check. - Between January 1, 2018 and January 1, 2019, a clean-up of the population administration took place on Sint Eustatius and Saba. In addition, approximately 200 persons on St. Eustatius and more than 200 persons on Saba have been designated as emigrants. In 2018, these persons were still registered in the population records of St. Eustatius and Saba respectively, but were found to no longer live on these islands when checked. Data available from: 2012 Status of the figures: The figures in this table are final. Changes as of September 29, 2022 Data from 2020 have been added to this table. When will new numbers come out? The gross domestic product per capita of 2021 will be published in the autumn of 2023.

Historical dataset showing Latin America & Caribbean trade to gdp ratio by year from 1960 to 2023.

This dataset is about countries in Caribbean. It has 13 rows. It features 3 columns: GDP, and democracy score.

The Gross Domestic Product per capita in Dominican Republic was last recorded at 9168.29 US dollars in 2024. The GDP per Capita in Dominican Republic is equivalent to 73 percent of the world's average. This dataset provides - Dominican Republic GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This table contains the gross domestic product (GDP) on an annual basis of Bonaire, Sint Eustatius, Saba and for the entire Caribbean Netherlands. GDP is a macroeconomic concept. The volume change of GDP is the measure of a country's economic growth. This volume change is compared to the previous year. Data available from 2012 to 2017 Status of the figures: The figures in this table are final. Changes as of September 24, 2020: None, this table has been discontinued. In 2020, Statistics Netherlands carried out a revision of the gross domestic product of the Caribbean Netherlands. New statistical sources and estimation methods have been used. This table with data for revision has been replaced by the Caribbean Netherlands table; gross domestic product (GDP). See section 3. When will new figures be released? Not applicable anymore.

In Caribbean region, the travel and tourism sector contributed more than 60 billion U.S. dollars to the gross domestic product in 2022. Among all listed Caribbean territories, the Dominican Republic and Cuba registered the highest total contributions of this sector to the GDP.

We provide the data used for this research in both Excel (one file with one matrix per sheet, 'Allmatrices.xlsx'), and CSV (one file per matrix).

Patent applications (Patent_applications.csv) Patent applications from residents and no residents per million inhabitants. Data obtained from the World Development Indicators database (World Bank 2020). Normalization by the number of inhabitants was made by the authors.

High-tech exports (High-tech_exports.csv) The proportion of exports of high-level technology manufactures from total exports by technology intensity, obtained from the Trade Structure by Partner, Product or Service-Category database (Lall, 2000; UNCTAD, 2019)

Expenditure on education (Expenditure_on_education.csv) Per capita government expenditure on education, total (2010 US$). The data was obtained from the government expenditure on education (total % of GDP), GDP (constant 2010 US$), and population indicators of the World Development Indicators database (World Bank 2020). Normalization by the number of inhabitants was made by the authors.

Scientific publications (Scientific_publications.csv) Scientific and technical journal articles per million inhabitants. The data were obtained from the scientific and technical journal articles and population indicators of the World Development Indicators database (World Bank 2020). Normalization by the number of inhabitants was made by the authors.

Expenditure on R&D (Expenditure_on_R&D.csv) Expenditure on research and development. Data obtained from the research and development expenditure (% of GDP), GDP (constant 2010 US$), and population indicators of the World Development Indicators database (World Bank 2020). Normalization by the number of inhabitants was made by the authors.

Two centuries of GDP (GDP_two_centuries.csv) GDP per capita that accounts for inflation. Data obtained from the Maddison Project Database, version 2018 (Inklaar et al. 2018), and available from the Open Numbers community (open-numbers.github.io).

Inklaar, R., de Jong, H., Bolt, J., & van Zanden, J. (2018). Rebasing “Maddison”: new income comparisons and the shape of long-run economic development (GD-174; GGDC Research Memorandum). https://www.rug.nl/research/portal/files/53088705/gd174.pdf

Lall, S. (2000). The Technological Structure and Performance of Developing Country Manufactured Exports, 1985‐98. Oxford Development Studies, 28(3), 337–369. https://doi.org/10.1080/713688318

Unctad. 2019. “Trade Structure by Partner, Product or Service-Category.” 2019. https://unctadstat.unctad.org/EN/.

World Bank. (2020). World Development Indicators. https://databank.worldbank.org/source/world-development-indicators