2023-12-17 21:42:48
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) published its recent report ‘Preliminary Balance of the Economies of Latin America and the Caribbean 2023’, in which only one South American country stood out in the top 3 of that ranking. Central America and Mexico grew 3.5% in their GDP, while South America only 1.5%. The list is led by Panama with 6.1%. Find out which is the South American nation with the best economy and where it is.
On the other side of the coin, Argentina and Haiti obtained the worst results following economically decreasing 2.5% and 1.8%, respectively. For its part, Venezuela was one of the surprises, surpassing Peru and Colombia. By 2024, ECLAC predicts that Central America and Mexico will grow 2.7%, and South America will achieve a 1.4% increase in GDP, according to the BBC.
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 in third place, following Panama (6.1%) and Costa Rica (4.9%). They are followed by Mexico (3.6%) and Guatemala (3.4%). This would be the top 5 in the ranking of the Economic Commission for Latin America and the Caribbean (ECLAC).
Brazil and Venezuela They are the following South American countries that stood out with a 3% GDP growth. On the other hand, the nations with slight growth 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 that faces year-on-year inflation of almost 200%. All of this reflects the “low dynamism of economic growth and global trade” that means that the region receives a limited boost from the world economy, according to ECLAC, cited by the BBC.
According to the executive secretary of ECLAC, José Manuel Salazar-Xirinachs, to improve, countries must “scale productive development policies with a focus on dynamic strategic sectors, promote policies to promote public and private investment, and adapt the framework of financing to enhance the mobilization of resources,” he declared to 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 Savior
- Bolivia
- Ecuador
- Cuba
- Uruguay
- Colombia
- Peru
- Chile
- Haiti
- Argentina.
Panama, the country with the highest economic growth in Latin America. Photo: kayak.com.pe
What is the country that will grow a thousand times more 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 go from exporting 390,000 barrels per year to more than 1 million by 2027.
As stated Andrew Trahancountry risk manager BMI —research unit of Fitch Solutions— for Latin America, “Guyana will experience explosive growth this year.”
The GDP of Guyana will have an increase of 115% and 2028. Photo: vuelaviajes.com.
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