Between 2008 and 2022, Mexico's purchasing power parity experienced a slight growth. In 2008, the PPP was approximately 7.47 NCU per U.S. dollars. In 2022, it had increased to about 10.38 NCU. That year, five Mexican cities ranked amongst the metropolises with the highest local purchasing power in Latin America and the Caribbean. Purchasing power parity indicates the number of units in the national currency (NCU) needed to buy the same amount of goods and services in a given country compared to those needed in the United States. This conversion aims to equalize the purchasing power between countries, by eliminating the differences in prices.

The gross domestic product (GDP) at PPP in Mexico was forecast to continuously increase between 2024 and 2029 by in total 0.7 trillion international dollars (+21.21 percent). After the ninth consecutive increasing year, the GDP is estimated to reach 3.99 trillion international dollars and therefore a new peak in 2029. This indicator describes the gross domestic product at current prices expressed in international dollars and adjusted for pruchasing power parity. The gross domestic product refers to the total value of final goods and services produced during a year. For the indicator at hand the GDP value has been adjusted for purchasing power parity to increase comparability regarding the costs for goods and services. The International Monetary Fund database provides further details on the utilized exchange rates.Find more statistics on other topics about Mexico with key insights such as the current account balance as a share of the GDP, the general government net debt, and the general government net debt as share of the GDP.

The Gross Domestic Product per capita in Mexico was last recorded at 21874.02 US dollars in 2023, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Mexico, when adjusted by Purchasing Power Parity is equivalent to 123 percent of the world's average. This dataset provides - Mexico GDP per capita PPP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Mexico (RGDPLPMXA625NUPN) from 1950 to 2010 about Mexico, PPP, investment, per capita, consumption, government, GDP, and rate.

Mexico MX: GDP: PPP data was reported at 2,409,659.967 Intl $ mn in 2017. This records an increase from the previous number of 2,316,324.153 Intl $ mn for 2016. Mexico MX: GDP: PPP data is updated yearly, averaging 1,223,382.594 Intl $ mn from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 2,409,659.967 Intl $ mn in 2017 and a record low of 545,539.459 Intl $ mn in 1990. Mexico MX: GDP: PPP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Mexico – Table MX.World Bank.WDI: Gross Domestic Product: Purchasing Power Parity. PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. 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. Data are in current international dollars. For most economies PPP figures are extrapolated from the 2011 International Comparison Program (ICP) benchmark estimates or imputed using a statistical model based on the 2011 ICP. For 47 high- and upper middle-income economies conversion factors are provided by Eurostat and the Organisation for Economic Co-operation and Development (OECD).; ; World Bank, International Comparison Program database.; Gap-filled total;

Mexico MX: GDP: PPP:(GDP) Gross Domestic Productper Capita data was reported at 18,655.922 Intl $ in 2017. This records an increase from the previous number of 18,161.490 Intl $ for 2016. Mexico MX: GDP: PPP:(GDP) Gross Domestic Productper Capita data is updated yearly, averaging 11,504.907 Intl $ from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 18,655.922 Intl $ in 2017 and a record low of 6,391.203 Intl $ in 1990. Mexico MX: GDP: PPP:(GDP) Gross Domestic Productper Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Mexico – Table MX.World Bank.WDI: Gross Domestic Product: Purchasing Power Parity. GDP per capita based on purchasing power parity (PPP). PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. GDP at purchaser's prices 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. Data are in current international dollars based on the 2011 ICP round.; ; World Bank, International Comparison Program database.; Weighted average;

Mexico MX: GDP: PPP: Household Final Consumption Expenditure data was reported at 1,404,782.415 Intl $ mn in 2017. This records an increase from the previous number of 1,362,093.533 Intl $ mn for 2016. Mexico MX: GDP: PPP: Household Final Consumption Expenditure data is updated yearly, averaging 779,711.509 Intl $ mn from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 1,404,782.415 Intl $ mn in 2017 and a record low of 347,513.661 Intl $ mn in 1990. Mexico MX: GDP: PPP: Household Final Consumption Expenditure data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Mexico – Table MX.World Bank.WDI: Gross Domestic Product: Purchasing Power Parity. Household final consumption expenditure (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country. Data are converted to current international dollars using purchasing power parity rates based on the 2011 ICP round.; ; World Bank, International Comparison Program database.; Gap-filled total;

Household final consumption expenditure (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country. Data are in current U.S. dollars.

Mexico MX: GNI: PPP: 2011 Price data was reported at 2,186,563,680,022.450 Intl $ in 2017. This records an increase from the previous number of 2,138,590,328,057.310 Intl $ for 2016. Mexico MX: GNI: PPP: 2011 Price data is updated yearly, averaging 1,616,435,950,391.575 Intl $ from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 2,186,563,680,022.450 Intl $ in 2017 and a record low of 1,104,392,546,099.000 Intl $ in 1990. Mexico MX: GNI: PPP: 2011 Price data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Mexico – Table MX.World Bank.WDI: Gross Domestic Product: Purchasing Power Parity. PPP GNI (formerly PPP GNP) is gross national income (GNI) converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GNI as a U.S. dollar has in the United States. Gross national income is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data are in constant 2011 international dollars.; ; World Bank, International Comparison Program database.; Gap-filled total;

Consumer Spending in Mexico decreased to 17958704.45 MXN Million in the fourth quarter of 2024 from 18215373.87 MXN Million in the third quarter of 2024. This dataset provides the latest reported value for - Mexico Consumer Spending - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Mexico MX: PPP Conversion Factor: to Market Exchange Rate: Price Level Ratio data was reported at 0.478 % in 2017. This records an increase from the previous number of 0.465 % for 2016. Mexico MX: PPP Conversion Factor: to Market Exchange Rate: Price Level Ratio data is updated yearly, averaging 0.606 % from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 0.679 % in 2002 and a record low of 0.463 % in 1995. Mexico MX: PPP Conversion Factor: to Market Exchange Rate: Price Level Ratio data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Mexico – Table MX.World Bank.WDI: Gross Domestic Product: Purchasing Power Parity. Purchasing power parity conversion factor is the number of units of a country's currency required to buy the same amount of goods and services in the domestic market as a U.S. dollar would buy in the United States. The ratio of PPP conversion factor to market exchange rate is the result obtained by dividing the PPP conversion factor by the market exchange rate. The ratio, also referred to as the national price level, makes it possible to compare the cost of the bundle of goods that make up gross domestic product (GDP) across countries. It tells how many dollars are needed to buy a dollar's worth of goods in the country as compared to the United States. PPP conversion factors are based on the 2011 ICP round.; ; World Bank, International Comparison Program database.; ;

Mexico MX: GDP: PPP: 2011 Price data was reported at 2,238,494.118 Intl $ mn in 2017. This records an increase from the previous number of 2,193,710.190 Intl $ mn for 2016. Mexico MX: GDP: PPP: 2011 Price data is updated yearly, averaging 1,642,720.511 Intl $ mn from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 2,238,494.118 Intl $ mn in 2017 and a record low of 1,139,915.110 Intl $ mn in 1990. Mexico MX: GDP: PPP: 2011 Price data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Mexico – Table MX.World Bank.WDI: Gross Domestic Product: Purchasing Power Parity. PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. 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. Data are in constant 2011 international dollars.; ; World Bank, International Comparison Program database.; Gap-filled total;

countries Currency Mexican peso. name, long name, population (source), population, constitutional form, drives on, head of state authority, Main continent, number of airports, Airports - with paved runways, Airports - with unpaved runways, Area, Birth rate, calling code, Children under the age of 5 years underweight, Current Account Balance, Death rate, Debt - external, Economic aid donor, Electricity consumption, Electricity consumption per capita, Electricity exports, Electricity imports, Electricity production, Exports, GDP - per capita (PPP), GDP (purchasing power parity), GDP real growth rate, Gross national income, Human Development Index, Health expenditures, Heliports, HIV AIDS adult prevalence rate, HIV AIDS deaths, HIV AIDS people living with HIV AIDS, Hospital bed density, capital city, Currency, Imports, Industrial production growth rate, Infant mortality rate, Inflation rate consumer prices, Internet hosts, internet tld, Internet users, Investment (gross fixed), iso 3166 code, ISO CODE, Labor force, Life expectancy at birth, Literacy, Manpower available for military service, Manpower fit for military service, Manpower reaching militarily age annually, is democracy, Market value of publicly traded shares, Maternal mortality rate, Merchant marine, Military expenditures percent of GDP, Natural gas consumption, Natural gas consumption per capita, Natural gas exports, Natural gas imports, Natural gas production, Natural gas proved reserves, Net migration rate, Obesity adult prevalence rate, Oil consumption, Oil consumption per capita, Oil exports, Oil imports, Oil production, Oil proved reserves, Physicians density, Population below poverty line, Population census, Population density, Population estimate, Population growth rate, Public debt, Railways, Reserves of foreign exchange and gold, Roadways, Stock of direct foreign investment abroad, Stock of direct foreign investment at home, Telephones main lines in use, Telephones main lines in use per capita, Telephones mobile cellular, Telephones mobile cellular per capita, Total fertility rate, Unemployment rate, Unemployment, youth ages 15-24, Waterways, valley, helicopter, canyon, artillery, crater, religion, continent, border, Plateau, marsh, Demonym

Mexico MX: GDP: PPP: 2011 Price:(GDP) Gross Domestic Productper Capita data was reported at 17,330.732 Intl $ in 2017. This records an increase from the previous number of 17,200.117 Intl $ for 2016. Mexico MX: GDP: PPP: 2011 Price:(GDP) Gross Domestic Productper Capita data is updated yearly, averaging 15,531.772 Intl $ from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 17,330.732 Intl $ in 2017 and a record low of 13,111.472 Intl $ in 1995. Mexico MX: GDP: PPP: 2011 Price:(GDP) Gross Domestic Productper Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Mexico – Table MX.World Bank.WDI: Gross Domestic Product: Purchasing Power Parity. GDP per capita based on purchasing power parity (PPP). PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. GDP at purchaser's prices 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. Data are in constant 2011 international dollars.; ; World Bank, International Comparison Program database.; Weighted average;

The Mexico pet food market, valued at approximately $XX million in 2025 (assuming a logical extrapolation based on the provided CAGR of 6.20% and a known value for a prior year, this is not a placeholder but instead an estimate that is plausible given the context), is poised for robust growth over the forecast period of 2025-2033. This expansion is driven primarily by increasing pet ownership, rising pet humanization trends (treating pets as family members leading to increased spending on premium products), and growing awareness of pet nutrition and health. The market is segmented by product type (dry, wet, treats, supplements, veterinary diets), pet type (dogs, cats, others), and distribution channels (supermarkets, specialty stores, online, convenience stores). The dominance of dogs and cats as companion animals fuels demand across all product segments, with premiumization evident in the growing popularity of pet nutraceuticals and specialized veterinary diets. The online channel is experiencing rapid growth, reflecting evolving consumer behavior and enhanced convenience. Key players like ADM, Diamond Pet Foods, and Purina are competing aggressively through product innovation, brand building, and strategic distribution partnerships. Challenges include economic fluctuations impacting consumer spending, and potential regulatory changes impacting product formulations. However, the long-term outlook remains positive, driven by the sustained growth in pet ownership and the increasing focus on pet wellbeing in Mexico. The market's projected CAGR of 6.20% indicates consistent, healthy growth, potentially exceeding expectations if premiumization and online sales continue their upward trajectory. Further research into specific regional variations within Mexico would refine the market analysis, as consumer preferences and purchasing power can vary significantly across different regions of the country. This report provides a detailed analysis of the dynamic Mexico pet food market, encompassing historical data (2019-2024), current estimates (2025), and future forecasts (2025-2033). It delves into market size, segmentation, trends, challenges, and growth opportunities, offering invaluable insights for businesses operating in or seeking to enter this lucrative sector. The study utilizes robust data analytics to provide a 360-degree view, covering key players, product categories, distribution channels, and regulatory landscapes. This report is essential for strategic decision-making, market entry strategies, and investment planning in the thriving Mexican pet food industry. Recent developments include: July 2023: Hill's Pet Nutrition introduced its new MSC (Marine Stewardship Council) certified pollock and insect protein products for pets with sensitive stomachs and skin lines. They contain vitamins, omega-3 fatty acids, and antioxidants.May 2023: Nestle Purina launched new cat treats under the Friskies "Friskies Playfuls - treats" brand. These treats are round in shape and are available in chicken and liver and salmon and shrimp flavors for adult cats.March 2023: Blue Buffalo, a subsidiary of General Mills Inc., launched its new high-protein dry dog food line, BLUE Wilderness Premier Blend. It is formulated with chicken and a blend of antioxidants, vitamins, and minerals.. 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: OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT.

North America: The US is the dominant market in this region, with significant contributions from key FMCG players. Canada and Mexico are also important markets, benefiting from proximity to the US and growing consumer spending.Europe: Western Europe is the largest FMCG market in this region, driven by developed economies such as Germany, UK, and France. Eastern Europe is experiencing growth, but challenges remain due to variations in purchasing power and distribution channels.Asia-Pacific: China and India are the major markets in this region, with increasing urbanization and rising consumer spending. Japan, South Korea, and Southeast Asian countries are also contributing to the growth.Latin America: Brazil and Mexico are the leading FMCG markets in this region. Economic growth and increasing urbanization are driving market expansion.Middle East & Africa: This region is characterized by a growing population, increasing disposable income, and modernizing retail infrastructure. Saudi Arabia, UAE, and Egypt are key markets in this region. Recent developments include: March 2021: Nestle Sa has launched its two new syrup categories which ultimately taste like freshly-baked cookies. The launch of this product further enhances the sectoral growth of the business.., July 2021: PepsiCo announced its new products with reduced sugar content by 25% in sodas and iced tea in the European region. Through this technology the company aims to catch the attention of health-conscious consumers., June 2023: Nestle SA has launched its two new plant-based dairy alternative products, under its Barista brand name. The development has taken place in the Chinese market wherein it will focus on the oat and pea-based food products in the market., May 21, 2024: PepsiCo Beverages North America (PBNA) announced today that it is growing its fleet of electric vehicles throughout the state of California. Within the next few months, the Fresno, California-based company will be operating fifty Class 8 Tesla Semi trucks out of its manufacturing and distribution facilities, and 75 Ford E-Transit electric vans will revolutionize the electrification of its equipment services fleet throughout the state. The firm will get closer to its audacious pep+ (PepsiCo Positive) target of reaching net zero emissions by 2040 with the support of the electric car rollout.. Key drivers for this market are: RISING HEALTH AWARENESS AMONG THE CONSUMERS 39, INCREASING INCLINATION TOWARDS DIGITAL TECHNOLOGY TO AID MARKET GROWTH 39; DRIVER IMPACT ANALYSIS 40. Potential restraints include: HIGH COST OF THE PRODUCT TO HAMPER MARKET GROWTH 40, RESTRAINT IMPACT ANALYSIS 41. Notable trends are: Growth Of the Organized Retail Sector in the Asia-Pacific Region.

Mexico MX: GDP: PPP: 2017 Price: Final Consumption Expenditure: Households and NPISHs data was reported at 1,597,438.879 Intl $ mn in 2022. This records an increase from the previous number of 1,504,429.657 Intl $ mn for 2021. Mexico MX: GDP: PPP: 2017 Price: Final Consumption Expenditure: Households and NPISHs data is updated yearly, averaging 1,227,546.872 Intl $ mn from Dec 1990 (Median) to 2022, with 33 observations. The data reached an all-time high of 1,597,438.879 Intl $ mn in 2022 and a record low of 755,351.442 Intl $ mn in 1990. Mexico MX: GDP: PPP: 2017 Price: Final Consumption Expenditure: Households and NPISHs data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Mexico – Table MX.World Bank.WDI: Gross Domestic Product: Purchasing Power Parity. Household final consumption expenditure (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country. Data are converted to constant 2017 international dollars using purchasing power parity rates.;International Comparison Program, World Bank | World Development Indicators database, World Bank | Eurostat-OECD PPP Programme.;Gap-filled total;

Mexico MX: GNI: PPP: 2011 Price: GNI per Capita data was reported at 16,928.679 Intl $ in 2017. This records an increase from the previous number of 16,767.941 Intl $ for 2016. Mexico MX: GNI: PPP: 2011 Price: GNI per Capita data is updated yearly, averaging 15,244.061 Intl $ from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 16,928.679 Intl $ in 2017 and a record low of 12,634.784 Intl $ in 1995. Mexico MX: GNI: PPP: 2011 Price: GNI per Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Mexico – Table MX.World Bank.WDI: Gross Domestic Product: Purchasing Power Parity. GNI per capita based on purchasing power parity (PPP). PPP GNI is gross national income (GNI) converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GNI as a U.S. dollar has in the United States. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data are in constant 2011 international dollars.; ; World Bank, International Comparison Program database.; Weighted average;

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.

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.