According to the World Bank, Latin America’s leading economy will double that of Brazil and Mexico by 2024 | Uruguay | Richest countries in the world in 2025 | USA | Canada | World Bank | Peru | Panama | World Economies 2025 | Economic Forces | the world

According to the World Bank, Latin America’s leading economy will double that of Brazil and Mexico by 2024 |  Uruguay |  Richest countries in the world in 2025 |  USA |  Canada |  World Bank |  Peru |  Panama |  World Economies 2025 |  Economic Forces |  the world

This country is located in South America and has a GDP higher than that provided in 2023. Photo: LR/Freepik composite

He World Bank, in its latest World Economic Outlook report, said the global economy has maintained growth of 2.6% over the past three years. However, in Latin America and the Caribbean, where a slight slowdown is expected at 1.8%, recovery is expected. 2025 and objective 2.7%. In this situation, a particular country stands out as the leading economy in the region after showing a significant increase compared to its peers.

This small South American country is basically leading the way GDP per capita in the region, but it offers growth projections significantly higher than such economic giants Brazil and Mexico. This situation reflects the effective economic policies and stability that have characterized the nation in recent years, and it sets an example for other Latin American countries to follow.

The United States continues to dominate the ranking of America’s major economies. Photo: Peru Retail

What is the main economy in Latin America and the highest GDP in 2024?

According to the World Bank, Uruguay is poised to become the most important economy in Latin America in 2024, in terms of GDP per capita. US$18.109. This achievement puts the country ahead of other major countries in the region such as Panama (US$16,294) and Chile (US$14,248). Uruguay has maintained steady economic growth that has allowed it to outpace major economies in terms of GDP per capita.

Uruguayans’ economic success is largely due to their human development policies, investment in infrastructure, and economic diversification. Despite global and regional challenges, these factors have contributed to creating a favorable environment for economic growth. This strategic approach was key to its GDP growth of 3.2% in 2024, higher than the regional average.

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Uruguay provided the highest growth in its GDP in 2024. Photo: Nodal

How did the country surpass Brazil and Mexico twice?

Notably, Uruguay surpasses large economies such as Brazil and Mexico in terms of GDP per capita. Brazil, with its large area and abundant natural resources, and Mexico, with its strategic proximity to the United States, cannot match Uruguay’s performance in terms of per capita wealth. Brazil projects 2% GDP growth in 2024, while Mexicans record a GDP per capita of US$10,327.

Where does Peru rank in the rankings?

Peru, with its growing economy based on mining and agriculture, also appears in the rankings of Latin American economies, although it does not reach the level of Uruguay. The Andean country has shown significant economic growth in recent decades, but its GDP per capita remains significantly lower compared to regional leaders. However, the Peruvian nation remains a growing economy, particularly in diversifying its economy and improving its public policies.

What is America’s top 20 economy?

The top 20 economies in the United States by GDP include both North America and Latin America and the Caribbean. The US and Canada topped the list, followed by Uruguay, Panama and Chile. The ranking reflects the size of economies and their ability to generate wealth and growth on a per capita basis.

  • America
  • Canada
  • Uruguay
  • Panama
  • Chile
  • Costa Rica
  • Argentina
  • Mexico
  • Brazil
  • Dominican Republic
  • Colombia
  • Peru
  • Paraguay
  • Ecuador
  • Guatemala
  • Savior
  • Bolivia
  • Honduras
  • Nicaragua
  • Haiti

Major US Economies in 2024 Photo: World Bank/LR

5 Keys: “Latin America’s leading economy to surpass Brazil and Mexico twice by 2024”

Major Economies of Latin America: The World Bank predicts that Uruguay will be the region’s leading economy in terms of GDP per capita by 2024, surpassing Brazil and Mexico.
GDP Growth: Uruguay’s GDP per capita reached US$18,109 in 2024, indicating significant growth and economic stability.
Effective economic policies: Human development policies, investment in infrastructure and economic diversification are key factors in Uruguay’s success.
Regional Comparison: Brazil and Mexico, despite their large sizes and resources, cannot match Uruguay’s performance in GDP per capita.
Continental Ranking: Uruguay is among the continent’s top 3 economies, along with the United States and Canada.
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