Haiti is expected to experience the worst economic recession in Latin America and the Caribbean in 2024. Haiti's gross domestic product (GDP) in 2024 is forecast to be 3 percent lower than the value registered in 2023, based on constant prices. Aside from Argentina, Haiti, and Puerto Rico, most economies in the region were likely to experience economic growth in 2024, most notably, Guyana.

The average for 2024 based on 11 countries was 5.66 percent. The highest value was in Guyana: 43.37 percent and the lowest value was in Ecuador: -2 percent. The indicator is available from 1961 to 2024. Below is a chart for all countries where data are available.

In 2022, the regional gross domestic product (GDP) in Latin America and the Caribbean grew more than four percent compared to the previous year. In 2020, the GDP of all the subregion shrunk, with Central America being the worst hit by the economic crisis spawned from the coronavirus pandemic, with a real GDP decrease of seven percent. This was the first time that this part of Latin America experiences a GDP fall since at least 2016. Forecasts for 2023 are fairly optimistic as well.

This data package includes the underlying data and files to replicate the calculations, charts, and tables presented in From Rapid Recovery to Slowdown: Why Recent Economic Growth in Latin America Has Been Slow, PIIE Policy Brief 15-6. If you use the data, please cite as: De Gregorio, José. (2015). From Rapid Recovery to Slowdown: Why Recent Economic Growth in Latin America Has Been Slow. PIIE Policy Brief 15-6. Peterson Institute for International Economics.

The annual population growth in Latin America & the Caribbean increased by 0.1 percentage points (+16.67 percent) in 2023 in comparison to the previous year. In total, the population growth amounted to 0.69 percent in 2023. Population growth refers to the annual change in population, and is based on the balance between birth and death rates, as well as migration.

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.

The Latin American IT Market is Segmented by Enterprise Size (Large Enterprises and Small and Medium Enterprises), End-user Industry (Retail, Manufacturing, BFSI, Government, IT and Telecom, and Other End-user Industries), and Country.

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

The Report Covers Latin America Fintech Market Size & Payment Trends and it is Segmented by Service Proposition (Money Transfer and Payments, Savings and Investments, Digital Lending & Lending Marketplaces, Online Insurance & Insurance Marketplaces, and Others), and by Country (Brazil, Mexico, Argentina, and Rest of Latin America).

The Latin America E-Commerce Logistics Market report segments the industry into By Service (Transportation, Warehousing and Inventory Management, and more), By Business (B2B (Business-to-Business), B2C (Business-to-Customrs)), By Destination (Domestic, and more), By Product (Fashion and Apparel, and more), and By Country (Brazil, and more).

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.

The Latin America IT Services Market is segmented by Type (IT Consulting & Implementation, IT Outsourcing, Business Process Outsourcing), End-user (Manufacturing, Government, BFSI, Healthcare, Retail & Consumer Goods, Logistics), and by Country. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

The Latin America Food Cans Market Report is Segmented by Material Type (Aluminum Cans and Steel Cans), Application (Ready Meals, Powder Products, Fish and Seafood, Fruits and Vegetables, Processed Food, Pet Food, and Other Applications), and Country (Brazil, Mexico, Argentina, and Rest of Latin America). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The Latin America Data Center Cooling Market report segments the industry into Cooling Technology (Air-based Cooling, Liquid-based Cooling), Type (Hyperscalers (Owned & Leased), Enterprise (On-premise), Colocation), End-user Industry (IT and Telecom, Retail and Consumer Goods, Healthcare, Media and Entertainment, Federal and Institutional Agencies, Other End-user Industries), and Country (Brazil, Mexico, Chile, and more).

In 2021, the growth rate in the mobile commerce market peaked at 58 percent. Despite forecasts indicating ongoing expansion in the following years, there has been a noticeable slowdown, with an estimated year-on-year growth rate of 17 percent projected for 2027.

ABSTRACTThis paper analyzes Joan Robinson's growth model, and then adapted in order to provide an exploratory taxonomy of Growth Eras. The Growth Eras or Ages were for Robinson a way to provide logical connections among output growth, capital accumulation, the degree of thriftiness, the real wage and illustrate a catalogue of growth possibilities. This modified taxonomy follows the spirit of Robinson's work, but it takes different theoretical approaches, which imply that some of her classifications do not fit perfectly the ones here suggested. Latin America has moved from a Golden Age in the 1950s and 1960s, to a Leaden Age in the 1980s, having two traverse periods, one in which the process of growth and industrialization accelerated in the late 1960s and early 1970s, which is here referred to as a Galloping Platinum Age, and one in which a process of deindustrialization, and reprimarization and maquilization of the productive structure took place, starting in the 1990s, which could be referred to as a Creeping Platinum Age.

Abstract

After years of poor economic performance, many Latin American countries undertook ambitious programs of macroeconomic stabilization and structural reform during recent years. The change in policy created high expectations for the region. Some observers question, however, whether actual growth outcomes in several Latin American countries have measured up to such expectations. This paper offers some evidence that the response of economic growth to reforms in Latin America has not been disappointing. Because of the significant changes in policies achieved in Latin America by the 1990s and in spite of the global slowdown, Latin America did well to return to its historic rate of growth of 2 percent per capita in 1990-93. Latin America growth has responded to changes in policy variables as would have been predicted by the experience of other times and places, as summarized by a panel regression spanning all countries and multi-year periods from 1960 to 1993. In order to obtain consistent estimates of the parameters linking policy variables and growth, this paper uses a dynamic panel methodology that both controls for unobserved time- and country-specific effects and accounts for the likely joint endogeneity of the explanatory variables.

This is the data used in the paper "Has Latin America's Post-Reform Growth Been Disappointing?" by William Easterly, Norman Loayza, and Peter Montiel (Journal of International Economics, 1997).

Kind of data

Aggregate data [agg]

Mode of data collection

Other [oth]

Using a panel of 17 Latin American countries for the period 2002–18, we study the impact of economic variables on government approval. Our empirical analysis shows that the one variable that appears consistently in all estimates is economic growth. More specifically, we show that for each point of additional growth, the approval rating increases between 1.4 and 2.0 percentage points. This tells us that a program focused on growth has a positive influence on the popularity of the government.

The average for 2023 based on 12 countries was 0.81 percent. The highest value was in Venezuela: 1.88 percent and the lowest value was in Uruguay: 0.01 percent. The indicator is available from 1961 to 2023. Below is a chart for all countries where data are available.

In 2023, Argentina was found to be the fastest growing market for market research in Latin America and the Caribbean. The Uruguayan market research sector grew approximately ** percent compared to the previous year, based on annual revenue. Brazil came in bottom position, with an annual growth rate of *** percent.