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 average for 2023 based on 11 countries was 10329.52 U.S. dollars. The highest value was in Guyana: 23325.12 U.S. dollars and the lowest value was in Bolivia: 3168.73 U.S. dollars. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

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.

As of 2023, Uruguay was the country in South America with the largest Gross Domestic Product per capita, with 21,377.63 US dollars. Guyana landed in second place, with 20,264.64 US dollars per capita. When it comes to the total GDP in South America, Brazil led the region this year with more than 2 trillion U.S. dollars.

GDP per Capita: USD: Paraguay data was reported at 5,704.547 USD in 2017. This records an increase from the previous number of 5,302.316 USD for 2016. GDP per Capita: USD: Paraguay data is updated yearly, averaging 1,091.376 USD from Dec 1950 (Median) to 2017, with 68 observations. The data reached an all-time high of 6,006.168 USD in 2014 and a record low of 55.364 USD in 1951. GDP per Capita: USD: Paraguay data remains active status in CEIC and is reported by CEIC Data. The data is categorized under World Trend Plus’s Global Economic Monitor – Table: GDP Per Capita: USD: North and South America. The Central Bank of Paraguay provides GDP per Capita in USD.

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

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 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.

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 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.

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.

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.

Graph and download economic data for Gross Domestic Product Per Capita: All Income Levels for Latin America and Caribbean (NYGDPPCAPCDLCN) from 1960 to 2023 about Caribbean Economies, Latin America, per capita, income, and GDP.

In 2025, Luxembourg was the country with the highest gross domestic product per capita in the world. Of the 20 listed countries, 13 are in Europe and four are in Asia, alongside the U.S., Canada, and Australia. There are no African or Latin American countries among the top 20. Correlation with high living standards While GDP is a useful indicator for measuring the size or strength of an economy, GDP per capita is much more reflective of living standards. For example, when compared to life expectancy or indices such as the Human Development Index or the World Happiness Report, there is a strong overlap - 14 of the 20 countries on this list are also ranked among the 20 happiest countries in 2024, and all 20 have "very high" HDIs. Misleading metrics? GDP per capita figures, however, can be misleading, and to paint a fuller picture of a country's living standards then one must look at multiple metrics. GDP per capita figures can be skewed by inequalities in wealth distribution, and in countries such as those in the Middle East, a relatively large share of the population lives in poverty while a smaller number live affluent lifestyles.

The Gross Domestic Product per capita in Brazil was last recorded at 9258.05 US dollars in 2023. The GDP per Capita in Brazil is equivalent to 73 percent of the world's average. This dataset provides - Brazil GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This scatter chart displays GDP (current US$) against health expenditure per capita (current US$) and is filtered where the region is South America. The data is about countries per year.

The Gross Domestic Product per capita in Chile was last recorded at 14226.52 US dollars in 2023. The GDP per Capita in Chile is equivalent to 113 percent of the world's average. This dataset provides - Chile GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

GDP per capita (constant 2015 US$) in Latin America & Caribbean was reported at 8861 USD in 2022, according to the World Bank collection of development indicators, compiled from officially recognized sources. Latin America & Caribbean - GDP per capita (constant 2000 US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

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.