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.

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 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.

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.

As of 2023, Brazil's Gross Domestic Product (GDP) amounted to more than *** trillion US dollars. That amount was not only more than all other South American countries' GPDs combined, but also puts Brazil in 8th place worldwide. Argentina came in second, with around *** billion USD this same year.

This dataset provides values for GDP PER CAPITA PPP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

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 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.

Latin America & Caribbean economic growth for 2023 was 7.100 trillion US dollars, a 11.9% increase from 2022.

<ul style='margin-top:20px;'>

<li>Latin America & Caribbean economic growth for 2022 was <strong>6.345 trillion US dollars</strong>, a <strong>13.69% increase</strong> from 2021.</li>
<li>Latin America & Caribbean economic growth for 2021 was <strong>5.581 trillion US dollars</strong>, a <strong>16.14% increase</strong> from 2020.</li>
<li>Latin America & Caribbean economic growth for 2020 was <strong>4.806 trillion US dollars</strong>, a <strong>15.09% decline</strong> from 2019.</li>
</ul>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 U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

The average for 2021 based on 12 countries was 34.3 percent. The highest value was in Colombia: 43.7 percent and the lowest value was in El Salvador: 29 percent. The indicator is available from 1963 to 2023. Below is a chart for all countries where data are available.

In 2024, Mexico ranked as the country with the second-best economic performance amongst the seven Latin American nations included in the ranking, with a index score of 49.88 in a scale from 0 to 100, only behind Puerto Rico. Venezuela obtained the worst score in this macro-economic evaluation of the domestic economy, at 28.85 index points.

The average for 2023 based on 12 countries was 0.787 points. The highest value was in Chile: 0.878 points and the lowest value was in Venezuela: 0.709 points. The indicator is available from 1980 to 2023. Below is a chart for all countries where data are available.

The average for 2021 based on 12 countries was 25 people per square km. The highest value was in Ecuador: 72 people per square km and the lowest value was in Guyana: 4 people per square km. The indicator is available from 1961 to 2021. Below is a chart for all countries where data are available.

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 South American data center rack market is experiencing robust growth, projected to reach a market size of XX million by 2025, with a Compound Annual Growth Rate (CAGR) of 11.60% from 2025 to 2033. This expansion is driven by several key factors. Firstly, the increasing adoption of cloud computing and digital transformation initiatives across various sectors, including IT & telecommunications, BFSI (Banking, Financial Services, and Insurance), government, and media & entertainment, is fueling demand for reliable and scalable data center infrastructure. The region is witnessing significant investments in digital infrastructure development, including the expansion of broadband networks and 5G deployments, further bolstering the data center market. Growing data volumes and the need for enhanced data security and disaster recovery solutions also contribute to market growth. Market trends include a shift towards higher rack densities to optimize space utilization, growing adoption of modular data center designs for faster deployment and scalability, and increased focus on energy efficiency and sustainability in data center operations. However, the market faces certain restraints, such as economic volatility in some South American countries, limited access to funding for infrastructure development in certain regions, and a potential shortage of skilled professionals to manage and maintain sophisticated data center equipment. Segmentation analysis reveals significant demand across various rack sizes (quarter, half, and full rack), with the full rack segment likely dominating due to the needs of large enterprises. Key players such as Fujitsu Corporation, Legrand SA, Hewlett Packard Enterprise, nVent Electric PLC, Schneider Electric SE, Dell Inc, Black Box Corporation, Rittal GMBH & Co KG, Vertic Group Corp, and Eaton Corporation are actively competing in this market, offering a range of solutions to meet diverse customer requirements. Geographic variations exist within South America, with Brazil, Argentina, and Chile representing the largest markets due to higher levels of economic activity and technological advancement. The South American data center rack market's future growth prospects are promising, particularly considering the ongoing digitalization efforts across various countries. The continued expansion of cloud services, the rise of big data analytics, and the increasing reliance on digital platforms across all sectors will fuel demand for advanced data center infrastructure. While economic uncertainties and infrastructure challenges pose some obstacles, government initiatives to promote digital economies and attract foreign investment could mitigate these risks. The market will likely see increased adoption of innovative technologies, including artificial intelligence (AI) and machine learning (ML), for data center management and optimization. Furthermore, the focus on sustainability and energy efficiency will drive the adoption of green data center technologies and practices. Competition among established vendors and emerging players will intensify, leading to pricing pressures and innovation in product offerings. Specific regional growth patterns will depend on the pace of economic development, regulatory frameworks, and the level of investment in digital infrastructure within each country, with Brazil, Argentina, and Chile expected to continue as the leading markets within the region across the forecast period (2025-2033). Analyzing the specific market needs of each South American country will be crucial for vendors to effectively tailor their product and service offerings and achieve success within this dynamic and growing market. Recent developments include: November 2022: Ascenty, the prevailing market leader in Latin America's data center domain, unveiled its groundbreaking initiative to construct five novel facilities, further cementing its position of preeminence with an aggregate of 33 infrastructures spanning Brazil, Chile, Mexico, and now Colombia. The novel data centers were strategically situated, including Santiago 3, encompassing 21,000 m² with a power capacity of 16 MW; Bogota 1 and 2, each spanning 9,000 m² and equipped with a 12 MW capacity; and finally, So Paulo 5 and 6, boasting an expansive area of 7,000 m² and a commanding capacity of 19 MW each., August 2022: The largest vertical data center in Latin America, SGRUTB04, with a total capacity of 18MW, was launched by Scala Data Centers, the region's top platform for environmentally friendly data centers in the hyperscale market. The Tamboré Campus, a complex owned by the firm in Greater So Paulo, Brazil, was where SGRUTB04 is situated. It was devoted to a single hyperscale client and was likely to operate at full capacity for more than ten years. This new Scala data center is 5 meters tall, has seven floors, four dedicated to data halls, and has a total built-out space of over 140,000 square feet, or more than 1,500 racks.. Key drivers for this market are: Increasing Deployment of Data Center Facilities, Growing Cloud Computing Adoption Leading to Investment in Hyperscale Data Centers; BFSI Sector Expected to Hold a Significant Share. Potential restraints include: Increasing Utilization of Blade Servers. Notable trends are: IT and Telecom to have significant market share.

South Korea ELI: by Region: South America data was reported at 44.300 Index in Sep 2019. This records an increase from the previous number of 36.500 Index for Jun 2019. South Korea ELI: by Region: South America data is updated quarterly, averaging 51.400 Index from Sep 2010 (Median) to Sep 2019, with 37 observations. The data reached an all-time high of 79.500 Index in Jun 2018 and a record low of 12.500 Index in Mar 2016. South Korea ELI: by Region: South America data remains active status in CEIC and is reported by Korea Trade-Investment Promotion Agency. The data is categorized under Global Database’s South Korea – Table KR.JA072: Export Leading Index.

The average for 2022 based on 12 countries was 0.67 percent. The highest value was in Suriname: 1.6 percent and the lowest value was in Argentina: 0.4 percent. The indicator is available from 1990 to 2022. Below is a chart for all countries where data are available.

The Latin American office real estate market, encompassing key nations like Brazil, Mexico, Colombia, and Chile, exhibits robust growth potential. Driven by expanding economies, increasing urbanization, and a burgeoning technology sector, the market is projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 5.5% from 2025 to 2033. Significant investments in infrastructure and a rise in foreign direct investment further fuel this expansion. However, economic volatility in certain regions and potential regulatory hurdles pose challenges. The market segmentation reveals Brazil and Mexico as leading contributors to overall market size, benefiting from robust economic activity and substantial corporate presence. Colombia and Chile also contribute significantly, with a growth trajectory closely linked to their respective economic performance and attractiveness to international businesses. While precise market sizing for 2025 is unavailable, leveraging the provided CAGR and assuming a 2024 market size of approximately $100 billion USD (a plausible estimate considering the scale of the economies involved), the market size for 2025 can be estimated to be around $105.5 billion USD. This growth is expected to continue, with further expansion fueled by the increasing demand for modern and sustainable office spaces, particularly in major metropolitan areas. Competition among major players like CBRE Group, Cushman & Wakefield, and local firms such as OAS S.A. and Andrade Gutierrez S.A., is intensifying, leading to innovation in design, technology integration, and sustainable building practices. The market is also witnessing increased adoption of flexible workspaces and co-working models, catering to evolving corporate needs. This demand for flexible solutions is likely to drive further investment and growth in specific segments of the market. Long-term prospects remain positive, though careful consideration of macroeconomic factors and localized market conditions is crucial for successful investment and strategic planning. The forecast period from 2025 to 2033 presents lucrative opportunities, particularly for companies offering innovative and sustainable solutions tailored to the specific needs of different markets within Latin America. Recent developments include: June 2022: Patria Investments ('Patria'), a global alternative asset manager, acquired VBI Real Estate ('VBI'), one of the top independent alternative real estate asset managers in Brazil, with approximately USD 75 Million in assets under management across both development and core real estate vehicles. The transaction is structured in two stages, the first of which entails the acquisition of 50% of VBI by Patria. The second stage, when closed, will lead to full ownership and integration of VBI to Patria's platform, January 2022: Brazilian real estate group SYN Prop e Tech has enlisted US firm Paul Hastings LLP and local firm Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados to sell its stake in a portfolio of office buildings in São Paulo to Canadian asset management fund Brookfield for 1.8 billion reais (USD 318 million).. Notable trends are: Demand for Grade-A Offices, Co-working Offices to Rise.