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.

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.

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.

Constant GDP per capita for Developing Countries in Latin America and Caribbean was 7610.66549 2010 U.S. $ in January of 2020, 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 8291.73809 in January of 2014 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 March 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 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 statistic shows gross domestic product (GDP) of Latin America and the Caribbean from 2019 to 2029 in billion U.S. dollars. In 2023, Latin America and the Caribbean's GDP amounted to about 6.56 trillion U.S. dollars.

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.

Under a Paris Agreement warming scenario – which means limitting the temperature rise to less than 1.5ºC above pre-industrial levels – Latin America and the Caribbean would experience a loss of roughly four percent of the region's per capita GDP. This figure increases under more extreme warming scenarios, reaching a loss of 16 percent of the region's GDP if temperatures go up to 3.2ºC above pre-industrial levels.

Venezuela was the most indebted country in Latin America and the Caribbean based on total government debt as 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 14.9 percent of the country's GDP as of 2024.

This statistic displays GDP per capita of Sint Maarten from 2009 to 2022. It shows that GDP per capita of Sint Maarten fluctuated over this period, amounting to roughly 64,800 ANG in 2022. In 2009, GDP had been 44,700 ANG.

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.

This statistic displays the gross domestic product (GDP) per capita in Bonaire in the Caribbean Netherlands from 2012 to 2016 (in U.S. dollars). Between 2012 and 2016, GDP per capita in Bonaire remained largely stable. In 2016, GDP per capita peaked at 22,500 U.S. dollars.

In 2017, the number of air trips per capita amounted to 0.4 and it was forecast to increase to 0.9 trips by 2037. In 2016, air transport contributed 156 billion U.S. dollars to the gross domestic product (GDP) in Latin America and the Caribbean.

Brazil led the list with a total of 4,390 kidnapping cases in the latest available data. Ecuador followed with 1,246 occurrences in 2022. On the flip side, there was only three reported kidnapping in the Antigua and Barbuda during that year. Homicides, another recurrent problem in Latin America Among the region's prevalent offenses, intentional homicide emerged as one of the main concerns in the region. Nonetheless, the rates vary among the different countries. Brazil leads the ranking of the most number of homicides in Latin America, as well as being the most populated country by far. On the other hand, Jamaica holds the top position according to the homicide rate, reporting nearly 61 instances per 100,000 inhabitants in 2023. Nevertheless, even with these varying homicide rates across countries, four out of five of the world's most perilous urban centers are situated in Mexico, with Colima leading the pack at a 2024 homicide rate of 140 per 100,000 inhabitants.

Cost of violence in Central America Following criminal acts, the responsibility for addressing the consequences falls squarely on the government, causing government expenditure to surge, called the cost of violence. Notably, Panama is more severely impacted in Central America, with the economic cost of violence per inhabitant accounting for over 3,771 U.S. dollars in 2022. In terms of a percentage of Gross Domestic Product (GDP), El Salvador takes the first place with a value of 15 percent of their GDP.

In 2023, the national gross income per capita in Brazil amounted to around 9,070 U.S. dollars, an increase from 8,240 dollars per person in the previous year. 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. Excluding countries and territories in the Caribbean, Uruguay and Chile were the Latin American countries with the highest national income per capita. Demographic elements and income There are many factors that may influence the income level, such as gender, academic attainment, location, ethnicity, etc. The gender pay gap, for example, is significant in Brazil. As of 2023, the monthly income per capita of men was 3,271 Brazilian reals, while the figure was 2,588 reals in the case of women. Additionally, monthly per capita household income varies greatly from state to state; the figures registered in Distrito Federal and São Paulo more than double the income of federative units like Acre, Alagoas or Maranhão. A high degree of inequality The Gini coefficient measures the degree of income inequality on a scale from 0 (total equality of incomes) to 100 (total inequality). Between 2010 and 2022, Brazil's degree of inequality in wealth distribution based on the Gini coefficient reached 52.9. That year, Brazil was deemed one of the most unequal countries in Latin America. Although the latest result represented one of the worst values in recent years, the Gini index is projected to improve slightly in the near future.

As of July 28, 2024, nearly 1.8 million people have died due COVID-19 in Latin America and the Caribbean. The country with the highest number was Brazil, reporting around 700,000 deaths. As a result of the pandemic, Brazil's GDP was forecast to decline by approximately six percent in 2020. Meanwhile, Mexico ranked second in number of deaths, with approximately 335 thousand occurrences. For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

The global per capita consumer spending on healthcare in was forecast to continuously increase between 2024 and 2029 by in total 178.3 U.S. dollars (+21.56 percent). After the ninth consecutive increasing year, the healthcare-related per capita spending is estimated to reach 1,005.36 U.S. dollars and therefore a new peak in 2029. Consumer spending, in this case healthcare-related spending per capita, refers to the domestic demand of private households and non-profit institutions serving households (NPISHs). Spending by corporations and the state is not included. The forecast has been adjusted for the expected impact of COVID-19.Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP). The shown data adheres broadly to group 06. As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data is shown in nominal terms which means that monetary data is valued at prices of the respective year and has not been adjusted for inflation. For future years the price level has been projected as well. The data has been converted from local currencies to US$ using the average exchange rate of the respective year. For forecast years, the exchange rate has been projected as well. The timelines therefore incorporate currency effects.Find more key insights for the per capita consumer spending on healthcare in countries like Caribbean and Asia.