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.

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.

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.

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.

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.

Latin America & Caribbean gdp growth rate for 2023 was 2.15%, a 1.83% decline from 2022.

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

<li>Latin America & Caribbean gdp growth rate for 2022 was <strong>3.99%</strong>, a <strong>3.01% decline</strong> from 2021.</li>
<li>Latin America & Caribbean gdp growth rate for 2021 was <strong>7.00%</strong>, a <strong>13.65% increase</strong> from 2020.</li>
<li>Latin America & Caribbean gdp growth rate for 2020 was <strong>-6.65%</strong>, a <strong>7.37% decline</strong> from 2019.</li>
</ul>Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 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 average for 2025 based on 20 countries was 2.14 percent. The highest value was in Argentina: 5.5 percent and the lowest value was in Venezuela: -4 percent. The indicator is available from 1980 to 2030. Below is a chart for all countries where data are available.

Brazilian banks continued to dominate the Latin American financial landscape, with the top five largest banks by assets in 2024 all hailing from Brazil. Itaú Unibanco lead the pack with assets exceeding *** billion U.S. dollars, followed by Banco do Brasil and Banco Bradesco. This concentration of financial power in Brazil underscores the country's economic influence in the region, despite challenges faced by other Latin American economies.

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 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.

The average for 2023 based on 20 countries was 0.87 percent. The highest value was in Venezuela: 1.88 percent and the lowest value was in Puerto Rico: -0.45 percent. The indicator is available from 1961 to 2023. Below is a chart for all countries where data are available.

Techsalerator’s Import/Export Trade Data for Latin America

Techsalerator’s Import/Export Trade Data for Latin America delivers an extensive and detailed analysis of trade activities throughout the Latin American region. This comprehensive dataset provides valuable insights into import and export transactions involving companies across various sectors within Latin America.

Coverage Across All Latin American Countries

The dataset encompasses all countries in Latin America, including:

Argentina Bolivia Brazil Chile Colombia Ecuador Guyana Paraguay Peru Suriname Uruguay Venezuela Additionally, it includes countries in Central America and the Caribbean:

Belize Costa Rica El Salvador Guatemala Honduras Nicaragua Panama Cuba Dominican Republic Haiti Jamaica Trinidad and Tobago Comprehensive Data Features

Transaction Details: The dataset provides detailed information on individual trade transactions, including product descriptions, quantities, values, and dates. This allows for precise tracking of trade flows and patterns.

Company Information: It includes specific details about the companies involved in trade, such as company names, locations, and industry sectors, facilitating targeted market research and business analysis.

Categorization: Transactions are categorized by industry sectors, product types, and trade partners. This helps in understanding market dynamics and sector-specific trends within the region.

Trade Trends: Users can analyze historical data to observe trends and shifts in trade volumes, identify emerging markets, and assess the impact of economic or political events on trade patterns.

Geographical Insights: The data offers insights into regional trade flows and the relationships between Latin American countries and their global trade partners, including major trading nations outside the region.

Regulatory and Compliance Data: The dataset includes information on trade regulations, tariffs, and compliance requirements, aiding businesses in navigating the regulatory landscape of international trade within Latin America.

Applications and Benefits

Market Research: Businesses can utilize the data to uncover new market opportunities, analyze competitive landscapes, and understand consumer demand across various Latin American countries.

Strategic Planning: Companies can leverage insights from the data to refine trade strategies, optimize supply chains, and mitigate risks associated with international trade in the region.

Economic Analysis: Analysts and policymakers can use the data to monitor economic performance, evaluate trade balances, and make informed decisions on trade policies and economic development initiatives.

Investment Decisions: Investors can assess trade trends and market potentials to make informed decisions about investments in Latin America’s diverse economies.

Techsalerator’s Import/Export Trade Data for Latin America provides a crucial resource for organizations involved in international trade, offering a detailed, reliable, and expansive view of trade activities across the Latin American continent.

The average for 2023 based on 18 countries was -4.91 percent. The highest value was in Puerto Rico: 6.12 percent and the lowest value was in Honduras: -23.93 percent. The indicator is available from 1960 to 2023. 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.

The average for 2023 based on 11 countries was 10329.52 U.S. dollars. The highest value was in Guyana: 23325.12 U.S. dollars and the lowest value was in Bolivia: 3168.73 U.S. dollars. 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 18 countries was -0.68 billion U.S. dollars. The highest value was in Brazil: 52.18 billion U.S. dollars and the lowest value was in Mexico: -24.97 billion U.S. dollars. The indicator is available from 1960 to 2023. 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.

Latin America & Caribbean gni per capita for 2023 was $9,566, a 8.37% increase from 2022.

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

<li>Latin America & Caribbean gni per capita for 2022 was <strong>$8,827</strong>, a <strong>7.64% increase</strong> from 2021.</li>
<li>Latin America & Caribbean gni per capita for 2021 was <strong>$8,200</strong>, a <strong>6.38% increase</strong> from 2020.</li>
<li>Latin America & Caribbean gni per capita for 2020 was <strong>$7,709</strong>, a <strong>12.48% decline</strong> from 2019.</li>
</ul>GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. 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. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.

The Latin American data center construction market is experiencing robust growth, projected to reach a market size of $5.14 billion in 2025 and maintain a Compound Annual Growth Rate (CAGR) exceeding 8.71% from 2025 to 2033. This expansion is fueled by several key factors. Firstly, the burgeoning digital economy across the region is driving increased demand for robust and reliable data storage and processing capabilities. Secondly, significant investments in digital infrastructure by governments and private companies are supporting the construction of new data centers and upgrades to existing facilities. Furthermore, the rising adoption of cloud computing and the expansion of e-commerce are contributing to this growth. The market is segmented by infrastructure type (electrical, mechanical, and general construction), tier type (Tier I-IV), enterprise size (small, medium, and large), and end-user industry (banking, IT, government, healthcare, etc.). Brazil, Mexico, and Colombia are expected to be leading markets within Latin America due to their established economies and burgeoning tech sectors. Competitive pressures are shaping the market landscape with a range of companies including global and regional players involved in construction and data center infrastructure provision. The growth trajectory is, however, not without challenges. While significant opportunities exist, restraints include potential infrastructure limitations in some areas, regulatory hurdles, and the need for skilled labor to manage and maintain these complex facilities. Furthermore, the market is susceptible to economic fluctuations affecting investment levels. The market is expected to see continued growth through strategic partnerships and mergers and acquisitions within the industry. The focus on sustainability and energy efficiency in data center design and construction will also be a significant driver influencing the market, with companies increasingly prioritizing eco-friendly solutions. The consistent growth in digital adoption across various sectors indicates the Latin American data center construction market will continue its upward trajectory well into the projected forecast period. Recent developments include: January 2023: The Santos Port Authority (SPA) is planning to have a new data center constructed by the Brazilian company Zeittec. Zeittec and the SPA, the state-owned organization in charge of running the Port of Santos in the state of So Paulo, have agreed to the terms of a building agreement for a new data center. It is anticipated that work on the Safe Room will begin in January and be finished in the middle of 2023. According to the firm, the SPA Safe Room will be safe from both break-ins and fires thanks to walls that have been certified by NBR 10.636 as being able to resist fire for up to 120 minutes (CF 120). It will have OM4 laser multimode optical fibers and CAT 6A structured cabling., December 2022: Aligned, which is financed by Macquarie Group, intends to acquire Odata. The parties are in "advanced discussions" about a deal that would value Odata at roughly $1.8 billion, including debt, and may be revealed as soon as next week. The company announced at the opening of its first Mexican facility earlier this year that it would soon start building a second 30MW data center in Querétaro, and Peru would be its next market.. Key drivers for this market are: Growth in Network Connectivity and Increased Adoption of Digital Transformation Related Technologies in the Region, Favorable tax Incentive Structure Introduced by Local Governments has Led to the Higher Participation from International Players; Ongoing Consolidation Efforts by Major Data Center Construction Companies to Aid their Expansion Activities; Growing Awareness on Modular Deployments and Increasing Rack Density. Potential restraints include: Integration issues with traditional systems, Data quality and accuracy issues. Notable trends are: IT and Telecommunications Segment to Hold a Significant Share of the Market.