What is the largest economy in Latin America?

Which is the best economy in Latin America?

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

Rank Nation GDP (PPP) per capita (Intl$)
1 Brazil 15,642
2 Mexico 20,266
3 Argentina 22,141
4 Colombia 15,184

What are the two largest economies in Latin America?

Particular attention is given to the two largest Latin American economies, Brazil and Mexico.

Is Brazil richer than Canada?

Brazil has a GDP per capita of $15,600 as of 2017, while in Canada, the GDP per capita is $48,400 as of 2017.

What is the poorest Central American country?

Nicaragua: Is the least stable country in the region, and the second-poorest in the hemisphere after Haiti.

Gross domestic product by country (2012)

Countries El Salvador
GDP PPP per capita $7,734
nominal GDP $23,985,000,000
nominal GDP per capita $4,108

What are the 3 poorest economies in Latin America?

Bolivia reports the lowest incomes out of any South American country. Editorial credit: Goran Bogicevic / Shutterstock.com.

The Poorest Countries In South America.

Rank Nation Per Capita Income (USD)
1 Venezuela $3,374
2 Bolivia $3,683
3 Guyana $4,648
4 Suriname $5,799

What Latin American country has the worst economy?

Cuba is not included in the list due to lack of economic data. Puerto Rico is not listed since it is an unincorporated territory of the United States.

Ranking.

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Rank 1
Country Brazil
GDP (millions of US$) 1,363,767
GDP per capita 2021 (US$) 7,010

Why is Latin America not developed?

No country in Latin America can be named developed, although a few are higher-middle income. One important reason for this large gap is protectionism. … During this period, East Asia was fully into export promotion, tax incentives to exporters, low trade barriers, less protectionism, and fewer controls and regulations.

Why does Latin America struggle economically?

Many factors lead to the middle income trap, but three are especially crucial: a slowdown in growth due to an inability to achieve continuous improvements in competitiveness and productivity; the poor quality of education and the slow transfer of knowledge and innovative ideas; and.

What is the richest country in the world?

Five countries are regarded as the wealthiest countries globally, and we will talk about each one below.

  • Luxembourg. The European country of Luxembourg has been classified and defined as the wealthiest country in the world. …
  • Singapore. …
  • Ireland. …
  • Qatar. …
  • Switzerland.