Panama is the Latin American country with the highest economic growth in 2023. Photo: Composition by Jazmin Ceras/La República/BBC – Video: Milenio
The Economic Commission for Latin America and the Caribbean (ECLAC) released its latest report, “Preliminary Balance of the Economies of Latin America and the Caribbean 2023,” in which only one South American country stood out among the top three of this ranking. Central America and Mexico grew their GDP by 3.5% South America only 1.5%. Panama tops the list with 6.1%. Find out which South American country has the best economy and where it is located.
On the other hand, Argentina and Haiti had the worst results, with economic contractions of 2.5% and 1.8%, respectively. On his part Venezuela was one of the surprises, surpassing Peru and Colombia. According to the BBC, ECLAC forecasts 2.7% growth in Central America and Mexico and 1.4% GDP growth in South America by 2024.
Which is the country in South America with the highest economic growth in 2023?
The South American country with the highest economic growth is Paraguay with 4.5% and is third after Panama (6.1%) and Costa Rica (4.9%). This is followed by Mexico (3.6%) and Guatemala (3.4%). These would be the top 5 in the Economic Commission for Latin America and the Caribbean (ECLAC) ranking.
Brazil and Venezuela These are the following South American countries that stood out with a GDP growth of 3%. The countries with slight growth, however, were Peru (0.3%), Chile (0.1%) and Colombia (0.9%).
Economic growth in Paraguay in 2023: Photo: Revista Plus
Unfortunately, On the negative side is Argentina, a country facing nearly 200% year-on-year inflation. All of this reflects the “low dynamism of economic growth and world trade,” meaning the region is receiving limited stimulus from the global economy, according to ECLAC, quoted by the BBC.
According to ECLAC Executive Secretary José Manuel Salazar-Xirinachs, to improve, countries need to “scale productive development policies with a focus on dynamic strategic sectors, promote measures to promote public and private investments, and adapt the financing framework to improve the mobilization of resources “, he told the British media.
Economic Commission for Latin America and the Caribbean. Photo: thelogisticsworld.com.
The countries with the highest economic growth in Latin America in 2023
- Panama
- Costa Rica
- Paraguay
- Mexico
- Guatemala
- Honduras
- Dominican Republic
- Brazil
- Venezuela
- The saviour
- Bolivia
- Ecuador
- Cuba
- Uruguay
- Colombia
- Peru
- chili
- Haiti
- Argentina.
Panama, the country with the highest economic growth in Latin America. Photo: Kayak.com.pe
Which country will grow a thousand times faster than Argentina?
He International Monetary Fund (IMF) estimates that the gross domestic product (GDP) of Guyana have an increase of 115% in 2028. In addition, the South American country will refrain from exporting 390,000 barrels per year to over 1 million by 2027.
As stated Andrew TrahanCountry risk manager BMI – Fitch Solutions Research Unit – for Latin America: “Guyana will experience explosive growth this year.”
The GDP of Guyana will have an increase of 115% in 2028. Photo: Vueltaviajes.com.