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.

The average for 2023 based on 11 countries was 11093.98 U.S. dollars. The highest value was in Uruguay: 22797.81 U.S. dollars and the lowest value was in Bolivia: 3686.28 U.S. dollars. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

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.

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 2024 based on 19 countries was 19884 U.S. dollars. The highest value was in Puerto Rico: 44125 U.S. dollars and the lowest value was in Haiti: 2801 U.S. dollars. The indicator is available from 1990 to 2024. Below is a chart for all countries where data are available.

GDP per Capita: USD: United States data was reported at 59,774.000 USD in 2017. This records an increase from the previous number of 57,797.000 USD for 2016. GDP per Capita: USD: United States data is updated yearly, averaging 6,725.000 USD from Dec 1929 (Median) to 2017, with 89 observations. The data reached an all-time high of 59,774.000 USD in 2017 and a record low of 455.000 USD in 1933. GDP per Capita: USD: United States 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 Bureau of Economic Analysis provides annual GDP per Capita in USD.

Graph and download economic data for Median Family Income in South Census Region (MEFAINUSSOA646N) from 1953 to 2023 about South Census Region, family, median, income, and USA.

In 2023, the regional average income per capita in Latin America and the Caribbean reached 9,566.22 U.S. dollars, up from some 8,827.08 dollars per person in the previous year. At that point in time, five Caribbean states and Uruguay registered the highest gross national income per capita in Latin America and the Caribbean. 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 Gross Domestic Product per capita in Chile was last recorded at 14579.40 US dollars in 2024. The GDP per Capita in Chile is equivalent to 115 percent of the world's average. This dataset provides - Chile GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product per capita in the United States was last recorded at 66682.61 US dollars in 2024. The GDP per Capita in the United States is equivalent to 528 percent of the world's average. This dataset provides - United States GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

The Gross Domestic Product per capita in Argentina was last recorded at 12667.03 US dollars in 2024. The GDP per Capita in Argentina is equivalent to 100 percent of the world's average. This dataset provides - Argentina GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product per capita in Colombia was last recorded at 6873.42 US dollars in 2024. The GDP per Capita in Colombia is equivalent to 54 percent of the world's average. This dataset provides - Colombia GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Uruguay was the Latin American country with the highest average monthly salary as of 2024, with a net value of around ***** U.S. dollars per month, followed by Costa Rica, with *** U.S. dollars per month. Employment development areas in Latin America Following the recuperation in this sector after the job losses endured throughout the COVID-19 pandemic, the unemployment rate persists in its endeavor to stabilize. Informal employment remains as the predominant actor across most Latin American countries, serving as a primary avenue for economic sustenance. Notably, the construction sector has experienced substantial growth, outpacing other relevant industries like tourism and hospitality. Poverty Throughout the past two decades, poverty levels in Latin America remain unchanged. Honduras takes the lead as the country bearing the highest poverty rate, with nearly half of its population dwelling in these circumstances. Across the region, the prevalent delineation is that of individuals classified within the non-extreme and lower-middle poverty strata, characterized by modest income levels.

The Gross Domestic Product per capita in Brazil was last recorded at 9564.58 US dollars in 2024. The GDP per Capita in Brazil is equivalent to 76 percent of the world's average. This dataset provides - Brazil GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Estimate of Median Household Income for South Carolina (MHISC45000A052NCEN) from 1989 to 2023 about SC, households, median, income, and USA.

The Gross Domestic Product per capita in El Salvador was last recorded at 4585.23 US dollars in 2024. The GDP per Capita in El Salvador is equivalent to 36 percent of the world's average. This dataset provides - El Salvador GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 1820, Western Europe was the region with the highest GDP per capita, however the non-European developed countries of the United States, Canada, Australia, and New Zealand saw their average GDP per capita grow much higher by the outbreak of the First World War. These developed nations and Europe were the only regions where GDP per capita was higher than the global average, while all other regions were below (although Latin America did have an above average GDP in 1820).

Graph and download economic data for Median Personal Income in South Census Region (MEPAINUSSOA646N) from 1974 to 2023 about South Census Region, personal income, personal, median, income, and USA.

Out of all 50 states, New York had the highest per-capita real gross domestic product (GDP) in 2024, at 92,341 U.S. dollars, followed closely by Massachusetts. Mississippi had the lowest per-capita real GDP, at 41,603 U.S. dollars. While not a state, the District of Columbia had a per capita GDP of more than 210,780 U.S. dollars. What is real GDP? A country’s real GDP is a measure that shows the value of the goods and services produced by an economy and is adjusted for inflation. The real GDP of a country helps economists to see the health of a country’s economy and its standard of living. Downturns in GDP growth can indicate financial difficulties, such as the financial crisis of 2008 and 2009, when the U.S. GDP decreased by 2.5 percent. The COVID-19 pandemic had a significant impact on U.S. GDP, shrinking the economy 2.8 percent. The U.S. economy rebounded in 2021, however, growing by nearly six percent. Why real GDP per capita matters Real GDP per capita takes the GDP of a country, state, or metropolitan area and divides it by the number of people in that area. Some argue that per-capita GDP is more important than the GDP of a country, as it is a good indicator of whether or not the country’s population is getting wealthier, thus increasing the standard of living in that area. The best measure of standard of living when comparing across countries is thought to be GDP per capita at purchasing power parity (PPP) which uses the prices of specific goods to compare the absolute purchasing power of a countries currency.