Latin America & Caribbean: GDP real growth by country 2020-2021

Venezuela is expected to experience the worst economic recession in Latin America and the Caribbean in 2020 and 2021. Venezuela's gross domestic product (GDP) in 2020 is forecast to be 25 percent lower than the value registered in 2019, based on constant prices. Aside from Venezuela and Nicaragua, most economies in the region were likely to experience economic growth in 2020, most notably, Caribbean islands as Aruba and Barbados.

Among the largest Latin American economies, Peru was expected to register the highest growth in 2021, with over seven percent. Guyana, on the other hand, was the only country in the region whose economy would grow both in 2020 and 2021, according to these October 2020 estimates.