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.

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.

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.

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 average for 2024 based on 19 countries was 2.22 percent. The highest value was in Dominican Republic: 4.95 percent and the lowest value was in Haiti: -4.17 percent. The indicator is available from 1961 to 2024. Below is a chart for all countries where data are available.

Guyana had the highest real gross domestic product (GDP) in the Americas in 2023, reaching ** percent. Panama followed behind with *** percent. On the other hand, the GDP of Haiti decreased by *** percent in 2023.

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

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.

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.

Graph and download economic data for Gross Domestic Product for Developing Countries in Latin America and Caribbean (NYGDPMKTPCDLAC) from 1960 to 2024 about Caribbean Economies, Latin America, and GDP.

The average for 2023 based on 19 countries was 0.32 percent. The highest value was in Brazil: 2.08 percent and the lowest value was in Haiti: 0.02 percent. The indicator is available from 1980 to 2023. Below is a chart for all countries where data are available.

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.

This statistic shows the share of economic sectors in gross domestic product (GDP) in Latin America & Caribbean from 2014 to 2024. In 2024, the share of agriculture in Latin America & Caribbean's gross domestic product was 6.26 percent, industry contributed approximately 30.32 percent and the services sector contributed approximately 65.55 percent.

Graph and download economic data for Constant GDP per capita for Developing Countries in Latin America and Caribbean (NYGDPPCAPKDLAC) from 1960 to 2024 about Caribbean Economies, Latin America, per capita, and GDP.

The statistic depicts Mexico's real gross domestic product (GDP) growth rate from 2020 to 2024, with projections up until 2030. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. In 2024, Mexico's real GDP grew by about 1.45 percent compared to the previous year. Mexico's economy Mexico, having not been dramatically affected by the 2002 South American crisis, has one of the strongest economies in the Americas behind the United States and Canada. By improving its macroeconomic rules and regulations, Mexico improved on many aspects of its economy, most notably inflation. Several goals that the government wanted accomplish were the improvement of infrastructure around the country as well as newer tax laws that would allow for higher income equality. Mexico is generally an export-oriented country, with the majority of export goods consisting of electronics, automobiles and agricultural goods. Exports over the past decade have seen continuous growth, with the exception of 2009. This increase in exports is largely due to an increasing number of free trade agreements with international countries, which essentially eliminate tariffs between member countries. However, Mexico imports more than they export, having recorded an annual trade deficit over the past decade. While most economics label this as a negative aspect, other economics believe that trade deficits are associated with positive economic developments.

The average for 2023 based on 18 countries was 8.01 percent. The highest value was in Nicaragua: 26.18 percent and the lowest value was in Chile: 0.02 percent. The indicator is available from 1970 to 2023. Below is a chart for all countries where data are available.

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

The average for 2022 based on 17 countries was -3.33 percent. The highest value was in Bolivia: 2.1 percent and the lowest value was in Chile: -8.7 percent. The indicator is available from 1960 to 2024. Below is a chart for all countries where data are available.

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 August of 2025.