• Latin America: GDP growth forecast by country 2022

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Venezuela is expected to experience the worst economic recession in Latin America and the Caribbean in 2021 and 2022. Venezuela's gross domestic product (GDP) in 2021 is forecast to be five percent lower than the value registered in 2020, based on constant prices. 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.

Gross domestic product (GDP) real growth rate in Latin America and the Caribbean in 2021 and 2022, by country

Characteristic	2021	2022
St. Vincent and the Grenadines	-6.1%	8.3%
Venezuela	-5%	-3%
St. Kitts and Nevis	-1%	10%
Trinidad and Tobago	-1%	5.4%
Haiti	-0.7%	1.3%
Suriname	0.7%	1.5%
Antigua and Barbuda	1%	7%
Bahamas	2%	8%
Grenada	2.7%	6.2%
Ecuador	2.8%	3.5%
Uruguay	3.1%	3.2%
Barbados	3.3%	8.5%
Dominica	3.4%	7.9%
St. Lucia	3.5%	13.1%
Costa Rica	3.9%	3.5%
Paraguay	4.5%	3.8%
Jamaica	4.6%	2.7%
Honduras	4.9%	4.4%
Nicaragua	5%	3.5%
Bolivia	5%	4%
Brazil	5.2%	1.5%
Guatemala	5.5%	4.5%
Mexico	6.2%	4%
Regional average	6.3%	3%
Argentina	7.5%	2.5%
Colombia	7.6%	3.8%
Belize	8.5%	5.4%
El Salvador	9%	3.5%
Dominican Republic	9.5%	5.5%
Peru	10%	4.6%
Chile	11%	2.5%
Panama	12%	5%
Aruba	12.8%	7.5%
Guyana	20.4%	48.7%

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Release date

October 2021

More information

Region

LAC

Survey time period

October 2021

Special properties

Forecasts based on constant prices; Compared to the previous year

Supplementary notes

Data was not available for countries or territories excluded from this graph.

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