What are the largest economies in Latin America?

North America travel

Brazil and Mexico were the countries with the largest gross domestic product (GDP) in Latin America and the Caribbean in 2021. In that year, Brazil’s GDP reached an estimated value of 1.6 trillion U.S. dollars, whereas Mexico’s amounted to almost 1.3 trillion U.S. dollars.

What are the 3 richest economies in Latin America?

List of Latin American and Caribbean countries by GDP (PPP)

Rank Nation GDP (PPP) per capita (Intl$)
1 Brazil 17,207
2 Mexico 22,215
3 Argentina 25,822
4 Colombia 18,225

What are the 3 poorest economies in Latin America?

Poorest Countries in South America 2022

  • Bolivia.
  • Venezuela.
  • Dominica.


What is the main economy in Latin America?

Latin America’s economy is composed of two main economic sectors: agriculture and mining. Latin America has large areas of land that are rich in minerals and other raw materials. Also, the tropical and temperate climates of Latin America makes it ideal for growing a variety of agricultural products.

Which 5 Latin American country is the richest?

Here are the 10 richest countries in South America:

  • Brazil – $35.21 Bn.
  • Argentina – $33.98 Bn.
  • Venezuela – $13.83 Bn.
  • Colombia – $10.19 Bn.
  • Chile – $9.68 Bn.
  • Peru – $5.83 Bn.
  • Ecuador – $2.86 Bn.
  • Uruguay – $2.54 Bn.

Which Latin American country has the best economy?

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.

What is the most powerful country in Latin America?

Latin America: number of active military personnel 2022, by country. In 2021,Brazil led the ranking of countries with the largest number of active military personnel in Latin America and the Caribbean, with 360,000 soldiers. It was followed by Colombia with 295,000 military personnel.

What is the most developed country in Latin America?

Chile

Human Development Index: 0.851



Chile is the most developed country in South America. In 2010, Chile joined the OECD. Their GDP, quality of life, infant mortality rate, life expectancy, and HDI are enough for most economists to classify the country as developed.

Who has the freest economy in Latin America?

Economic freedom, overall index – Country rankings



The average for 2022 based on 12 countries was 56 index points. The highest value was in Chile: 74 index points and the lowest value was in Venezuela: 25 index points. The indicator is available from .

What is the fastest growing economy in Latin America?

List

Rank Nation GDP growth rate (%)
1 Montserrat 7.40
2 Panama 5.40
3 Nicaragua 4.90
4 Honduras 4.80

What is the second largest economy in Latin America?

Mexico

With a population of almost 130 million, a rich cultural history and diversity, and abundant natural resources, Mexico is among the 15 largest economies in the world and the second largest economy in Latin America.

Which Latin American country has the best economy in 2022?

Aside from Venezuela, Haiti and a few island nations, most economies in the region were likely to experience economic growth in 2022, most notably, Guyana and Aruba. Among the largest Latin American economies, Peru was expected to register the highest growth in 2022, with over four percent.

What is the poorest state in Latin America?

Haiti’s economic and social development continues to be hindered by political instability, increasing violence and unprecedented levels of insecurity, which exacerbate fragility. Haiti remains the poorest country in the Latin America and the Caribbean (LAC) region and among the poorest countries in the world.

What are the 3 main exports of Latin America?

The main exports from Latin America are agricultural products and natural resources such as petroleum, iron, and copper.

What is the most developed country in Latin America?

Chile

Human Development Index: 0.851



Chile is the most developed country in South America. In 2010, Chile joined the OECD. Their GDP, quality of life, infant mortality rate, life expectancy, and HDI are enough for most economists to classify the country as developed.

What is the second largest economy in Latin America?

Mexico

With a population of almost 130 million, a rich cultural history and diversity, and abundant natural resources, Mexico is among the 15 largest economies in the world and the second largest economy in Latin America.

Is Puerto Rico the richest country in Latin America?

Puerto Rico and The Bahamas were the states with the highest gross domestic product (GDP) per capita in Latin America and the Caribbean as of 2021.

Who is richer Dominican or Mexico?

The Dominican Republic is a middle-income country, while Mexico is a lower-middle-income country. The Dominican Republic has a higher GDP per capita than Mexico, and a lower poverty rate.

Which Latin American country is the best to live?

Best Countries to Retire in South America:

  • Uruguay. Nestled in between Brazil and Argentina, Uruguay is a highly desirable country for retirees wanting to retire in beautiful South America.
  • Chile. Located on the west coast of South America, Chile is a wonderland of excitement for future retirees.
  • Argentina.
  • Peru.
  • Ecuador.