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 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.

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.

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 19 countries was 19519 U.S. dollars. The highest value was in Puerto Rico: 42995 U.S. dollars and the lowest value was in Haiti: 2956 U.S. dollars. The indicator is available from 1990 to 2023. Below is a chart for all countries where data are available.

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.

According to recent estimates, the most affected sectors by the coronavirus pandemic in Latin America would be wholesale and retail trade as well as services in general, such as tourism, foodservice, transport, and communications. In 2020, this group of most affected sectors was forecasted to represent more than 16 percent of Brazil’s gross domestic product (GDP). Among the countries shown in this graph, Brazil is the nation where sectors moderately affected by the pandemic could represent the highest contribution to GDP (75.8 percent).

Which Latin American economies were most vulnerable to the pandemic? In 2020, the economic sectors most affected by the coronavirus pandemic - wholesale and retail, hotels and restaurants, transport and services in general - were forecasted to account for 35.5 percent of Panama’s GDP. In addition, the moderately and most affected economic segments were estimated to contribute the most to Panama’s GDP (a combined 97.6 percent) than any other country in this region. A similar scenario was projected in Mexico, where the sectors that would least suffer the pandemic's negative effects would account for only 3.4 percent of GDP.

Did the pandemic put a stop to economic growth in Latin America? Economic growth changed dramatically after the COVID-19 outbreak. Most of the largest economies in Latin America fell under recession in 2020. Estimates predict a more optimistic scenario for 2021, with countries such as Mexico, Colombia, and Argentina growing their GDP at least five percent.

The average for 2023 based on 12 countries was 36.69 million. The highest value was in Brazil: 216.42 million and the lowest value was in Suriname: 0.62 million. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

The average for 2023 based on 20 countries was 32.24 million. The highest value was in Brazil: 216.42 million and the lowest value was in Puerto Rico: 3.21 million. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

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.

The average for 2023 based on 10 countries was 53.56 billion U.S. dollars. The highest value was in Brazil: 289.79 billion U.S. dollars and the lowest value was in Suriname: 0.88 billion U.S. dollars. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

The South American challenger bank market, valued at $389.26 million in 2025, is experiencing robust growth, projected to expand significantly over the forecast period (2025-2033) at a Compound Annual Growth Rate (CAGR) of 12.57%. This surge is driven by several key factors. Increasing smartphone penetration and internet access across the region are fostering a digitally savvy population increasingly comfortable with online banking services. Furthermore, the region's underserved populations, lacking access to traditional banking services, present a vast untapped market for challenger banks offering convenient and accessible financial products. The increasing demand for personalized financial solutions and a preference for user-friendly mobile-first banking experiences are additional significant drivers. Competition among established players and the emergence of innovative fintech companies further fuels market dynamism. Growth is segmented across service types (payments, savings, current accounts, credit, loans) and end-users (business and personal segments). Brazil, as the largest economy in South America, is anticipated to hold a dominant market share, followed by other major economies like Argentina, Colombia, and Chile. However, growth potential exists across all countries within the region. Despite the considerable growth potential, the market faces certain challenges. Regulatory hurdles and the need for robust cybersecurity infrastructure remain key restraints. Furthermore, building trust and brand awareness within a market accustomed to traditional banking institutions requires significant investment in marketing and customer acquisition strategies. Nevertheless, the overall positive trajectory of the South American challenger banking sector indicates a promising future for innovative financial institutions catering to the evolving needs of the region's population. The ongoing evolution of financial technology and increasing financial inclusion initiatives will further fuel market growth, attracting significant investment and fostering competition in the years to come. South America Challenger Banks Market: A Comprehensive Report (2019-2033) This comprehensive report provides a detailed analysis of the dynamic South America challenger banks market, encompassing the period from 2019 to 2033. It offers invaluable insights into market size, growth drivers, challenges, and future trends, making it an essential resource for investors, industry professionals, and strategic decision-makers. The report utilizes 2025 as the base year and provides forecasts until 2033, incorporating data from the historical period (2019-2024). This report covers key players such as NU Bank, Uala, Albo, Nequi, DaviPlata, Banco Inter, Neon, C6 bank, and Burbank (list not exhaustive). Recent developments include: In November 2023, N26, a German challenger bank, announced its exit from Brazil, marking the end of its two-year stint in the South American market. This move aligns with N26's strategic shift in geographical focus. The bank made its foray into Brazil in 2021, having obtained a Sociedade de Crédito Direto (SCD) license from the Banco Central do Brasil., In October 2023, Nubank had introduced over 40 new products and features, including innovative credit options like FGTS anniversary withdrawal anticipation and NuConsignado for INSS retirees and pensioners. With operations in Brazil, Colombia, and Mexico, Nubank has exceeded 90 million customers in Latin America, solidifying its position as one of the world's fastest-growing financial services firms.. Notable trends are: Rising Fintech Investments in South America Fueling the Growth.

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.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

The South American food emulsifiers market, valued at approximately $XX million in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 5.45% from 2025 to 2033. This expansion is driven primarily by the burgeoning food and beverage industry across the region, particularly in Brazil, Argentina, and Colombia. Increasing consumer demand for processed and convenience foods, coupled with the growing adoption of emulsifiers to enhance texture, stability, and shelf life of products, fuels market growth. Key application segments include dairy, bakery, confectionery, and meat, poultry & seafood, reflecting the diverse culinary landscape and increasing demand for processed food products. The market is characterized by a diverse range of emulsifiers, including lecithin, monoglycerides, diglycerides & derivatives, sorbitan esters, and polyglycerol esters, each catering to specific functional requirements within various food applications. While challenges such as fluctuating raw material prices and stringent regulatory compliance exist, the overall market outlook remains positive, driven by sustained economic growth and evolving consumer preferences in South America. Furthermore, the market's segmentation by type and application provides valuable insights into specific growth drivers. For instance, the rising popularity of bakery products and the increasing demand for enhanced texture and shelf life in dairy products are key drivers for the growth of specific emulsifier types within these segments. The geographical distribution indicates that Brazil, as the largest economy in South America, dominates the market, followed by Argentina and Colombia. However, growth opportunities exist in the "Rest of South America" segment as consumer preferences evolve and the food processing industry expands in smaller economies within the region. The presence of established global players like Cargill, ADM, and BASF, alongside regional manufacturers, contributes to a competitive landscape that drives innovation and product diversification within the South American food emulsifiers market. This competitive environment will likely further fuel market expansion and product differentiation in the coming years. Notable trends are: Growing Demand for Specialty Food Ingredients.

Latin America market held more than 5% of the global revenue with a market size of USD 0.33 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2023 to 2030.

The South America ETF market, valued at $9.24 billion in 2025, exhibits robust growth potential, projected to expand at a Compound Annual Growth Rate (CAGR) exceeding 5.00% from 2025 to 2033. This growth is fueled by increasing investor interest in emerging markets, particularly South America, driven by factors such as economic diversification, rising middle classes in key countries like Brazil and Colombia, and the region's abundant natural resources. Furthermore, the increasing availability of sophisticated investment vehicles like ETFs makes accessing these markets more accessible to a broader range of investors. Competition among major players like Banco do Brasil, iShares, Itaú Asset Management, and others, further stimulates innovation and product development within the sector, broadening the appeal of South American ETFs. While potential macroeconomic headwinds and geopolitical instability within the region pose challenges, the long-term growth prospects remain positive, supported by consistent economic development in several South American nations. The sustained growth trajectory is underpinned by several key trends. The rising adoption of passive investment strategies globally favors ETF growth. Moreover, regulatory developments aimed at simplifying investments and improving market transparency within South America contribute positively. Though potential economic volatility and currency fluctuations remain risks, the diversification benefits offered by South America ETFs continue to attract investors seeking higher returns, thereby mitigating these risks. The expanding range of ETFs focusing on specific South American sectors (e.g., commodities, technology, financials) further caters to diverse investor preferences, driving market expansion. The market's relatively high concentration among major players indicates potential opportunities for smaller firms to gain market share through niche product offerings and strategic partnerships. Key drivers for this market are: Increased Transparency and the Ability to Trade Throughout the Day, Increased Demand for Low-Cost and Diversified Investment Options. Potential restraints include: Increased Transparency and the Ability to Trade Throughout the Day, Increased Demand for Low-Cost and Diversified Investment Options. Notable trends are: Increase in Number of ETFs.

Based on land area, Brazil is the largest country in Latin America by far, with a total area of over 8.5 million square kilometers. Argentina follows with almost 2.8 million square kilometers. Cuba, whose surface area extends over almost 111,000 square kilometers, is the Caribbean country with the largest territory.

Brazil: a country with a lot to offer

Brazil's borders reach nearly half of the South American subcontinent, making it the fifth-largest country in the world and the third-largest country in the Western Hemisphere. Along with its landmass, Brazil also boasts the largest population and economy in the region. Although Brasília is the capital, the most significant portion of the country's population is concentrated along its coastline in the cities of São Paulo and Rio de Janeiro.

South America: a region of extreme geographic variation

With the Andes mountain range in the West, the Amazon Rainforest in the East, the Equator in the North, and Cape Horn as the Southern-most continental tip, South America has some of the most diverse climatic and ecological terrains in the world. At its core, its biodiversity can largely be attributed to the Amazon, the world's largest tropical rainforest, and the Amazon river, the world's largest river. However, with this incredible wealth of ecology also comes great responsibility. In the past decade, roughly 80,000 square kilometers of the Brazilian Amazon were destroyed. And, as of late 2019, there were at least 1,000 threatened species in Brazil alone.

The Latin American passenger car market, encompassing Brazil, Argentina, Mexico, and the Rest of Latin America, presents a dynamic landscape characterized by significant growth potential. With a current market size exceeding (estimated) $XX million in 2025 and a Compound Annual Growth Rate (CAGR) exceeding 4%, the market is projected to reach (estimated) $YY million by 2033. This expansion is driven by several key factors. Rising disposable incomes across the region, coupled with expanding middle classes, are fueling increased demand for personal vehicles. Government initiatives aimed at improving infrastructure and promoting sustainable transportation, including incentives for electric vehicle adoption, are further bolstering market growth. Furthermore, the increasing preference for SUVs and hatchbacks, reflecting changing consumer preferences, is significantly impacting segment-wise sales. However, the market faces challenges, including economic volatility in some Latin American countries and fluctuations in fuel prices, which can impact consumer purchasing power. The intense competition among established global players like Fiat Chrysler Automobiles, Volkswagen, and General Motors, along with the growing presence of Asian manufacturers like Hyundai and Toyota, shapes the competitive dynamics of this market. The segmentation of the market reveals diverse trends. While gasoline-powered vehicles continue to dominate, the electric vehicle segment is exhibiting robust growth, albeit from a smaller base. This growth is spurred by increasing environmental awareness and government support. Regional variations are also notable; Brazil, the largest market in Latin America, is expected to lead in overall growth, followed by Mexico and Argentina. However, the "Rest of Latin America" segment should not be overlooked, as it holds promising potential for future expansion, dependent on economic growth and infrastructure development in individual countries. This detailed analysis underscores the need for manufacturers to adapt their strategies to meet the unique demands and evolving preferences of consumers within this diverse and dynamic region. Understanding regional nuances and consumer trends will be crucial for achieving sustained success in the Latin American passenger car market. This comprehensive report provides an in-depth analysis of the Latin America passenger cars market, covering the period from 2019 to 2033. With a base year of 2025 and an estimated year of 2025, this study offers a detailed forecast from 2025 to 2033, built upon historical data from 2019 to 2024. The report explores market size in million units, key trends, growth drivers, and challenges, offering valuable insights for stakeholders across the automotive value chain. It segments the market by vehicle type (hatchback, sedan, SUV), fuel type (gasoline, diesel, electric), and geography (Brazil, Argentina, Mexico, Rest of Latin America), providing a granular understanding of market dynamics. This report is essential for automotive manufacturers, suppliers, investors, and government agencies seeking to understand and capitalize on opportunities within this dynamic market. Recent developments include: Nov 2022: Great Wall Motors (GWM) announced that it will begin selling the Haval H6 SUV in Brazil in the first quarter of 2023, with a package of semi-autonomous features and safety technologies, including facial recognition, which can identify up to five different people registered in the system., Oct 2022: Toyota stated that it would introduce the "Conquest," a new model of the Toyota Hilux made in Argentina. The number of pickup models produced at Zárate will rise from 15 to 16 with the Conquest's anticipated debut. Although it will be more affordable and have less power than the Hilux GR-Sport III, the Hilux Conquest will have a distinctive look and unique features and be focused on off-road and recreational use., Jan 2022: Link, an electric vehicle manufacturer in the US, planned to set up its assembly plant in the Mexican state of Puebla. This production setup received an investment of USD 265 million.. Key drivers for this market are: Surge in Awareness About the Benefits of Leasing, Shift in Trends Towards Rental. Potential restraints include: Labor Shortage may obstruct the market growth, The economic downturn in the equipment leasing sector will impede market expansion. Notable trends are: Zero Emission Vehicles Gaining Traction in Latin America.

The South American commercial aircraft aviation fuel market is experiencing robust growth, driven by a burgeoning air travel sector and increasing passenger numbers across the region. Brazil, Argentina, and Colombia represent the largest markets, fueled by expanding domestic and international air connectivity. The market is primarily composed of Air Turbine Fuel (ATF), with a growing segment of sustainable aviation biofuels (SAF) gaining traction due to increasing environmental concerns and regulatory pressures. While traditional fuels like ATF and AVGAS remain dominant, the shift towards biofuels presents a significant opportunity for market expansion and diversification. The market's Compound Annual Growth Rate (CAGR) exceeding 12% suggests a strong trajectory for the forecast period (2025-2033). Growth is further supported by increasing tourism, economic development, and the expansion of low-cost carrier operations within South America. However, factors like fluctuating crude oil prices and geopolitical instability pose potential restraints. Major players like Petroleo Brasileiro S.A., Repsol S.A., and international oil giants are strategically positioned to capitalize on this growth, investing in infrastructure and supply chain optimization to meet the rising demand. The market segmentation by fuel type and geography provides a granular understanding of growth drivers and market dynamics within each region. The forecast period will witness a significant increase in the demand for aviation fuel, driven by factors such as increasing air travel, fleet modernization, and the expansion of regional air networks. Brazil, being the largest economy in South America, will likely continue to dominate the market share, followed by Argentina and Colombia. The adoption of biofuels is anticipated to accelerate, albeit gradually, as technological advancements reduce production costs and increase overall efficiency. This transition towards sustainable aviation fuels will likely be influenced by government policies and initiatives aimed at promoting environmental sustainability within the aviation industry. Competition among major players will remain fierce, focusing on supply chain efficiency, pricing strategies, and securing long-term contracts with airlines. Ongoing infrastructure development at major airports throughout South America will also contribute positively to the market's overall growth. Notable trends are: ATF to Dominate the Market.

The South American feed vitamins market, valued at approximately $XX million in 2025, is projected to experience steady growth with a Compound Annual Growth Rate (CAGR) of 1.40% from 2025 to 2033. This growth is driven by several factors, including the increasing demand for animal protein in the region, the rising adoption of intensive farming practices, and a growing focus on animal health and productivity. Specific vitamin segments like Vitamin A, Vitamin C, and Vitamin E are anticipated to witness robust growth due to their vital roles in animal immune function and overall health. The poultry and swine sectors are expected to be key drivers within the animal type segment, given their significant contribution to meat production in South America. Brazil, being the largest economy in the region, is projected to hold the largest market share, followed by Argentina and the Rest of South America. However, factors such as fluctuating raw material prices and economic volatility in certain South American nations could pose challenges to market expansion. The competitive landscape includes both multinational corporations and regional players, with companies like Cargill, DSM, and others continuously innovating to offer advanced feed vitamin formulations tailored to the specific nutritional needs of different animal species and farming systems. Continued investments in research and development, coupled with a focus on sustainable and efficient farming practices, will be pivotal for future market expansion. The market segmentation reveals considerable opportunities for specialized vitamin products catering to specific animal types. For instance, ruminant feed vitamin demands may reflect differing nutritional needs compared to poultry. Geographic variations in market penetration also exist, presenting opportunities for companies focused on regional expansion. While Brazil and Argentina currently represent major markets, the 'Rest of South America' segment presents potential for future growth, contingent on economic conditions and the adoption of modern farming techniques. Regulatory changes and evolving consumer preferences regarding animal welfare and food safety will continue to shape the market dynamics. The ongoing adoption of precision livestock farming technologies is likely to increase demand for specialized and high-quality feed vitamins in the long run. The overall outlook for the South American feed vitamins market remains positive, with significant potential for growth fueled by a confluence of factors related to animal production and consumer demand. This comprehensive report provides an in-depth analysis of the South America feed vitamins market, offering valuable insights into market size, growth drivers, challenges, and future trends. Covering the period from 2019 to 2033, with 2025 as the base year, this study is essential for businesses operating in or planning to enter this dynamic sector. The report segments the market by vitamin type (Vitamin A, Vitamin B, Vitamin C, Vitamin E, Other Vitamins), animal type (Ruminants, Poultry, Swine, Aquaculture, Other Animal Types), and geography (Brazil, Argentina, Rest of South America), providing a granular understanding of market dynamics. This report is crucial for strategic decision-making, investment planning, and competitive analysis within the South American feed and animal nutrition industry. Key drivers for this market are: Increased Demand for Meat, Initiatives By the Key Players; Focus on Animal nutrition and Health. Potential restraints include: Shift Toward Vegan- Based Diet, Changing Raw Material Prices and Strict Government Rules to Restrict Market Growth. Notable trends are: Increasing Feed Production Drives the Market.