Income per capita in Latin America & Caribbean countries 2023

In 2023, four Caribbean nations were the countries with the highest gross national income per capita in Latin America and the Caribbean. On average, the national gross income amounted to around 31,990 U.S. dollars per person in the Bahamas, an island country which also had one of the highest gross domestic product per capita in this region.

Outside the Caribbean

Excluding the Caribbean, the economies with the highest national income per capita are generally located in South America, with the exceptions of Panama, Costa Rica and Mexico. Guyana leads among continental states with a national income of around 20.360 U.S. dollars per person. Gross national income (GNI) is the aggregated sum of the value added by residents in an economy, plus net taxes (minus subsidies) and net receipts of primary income from abroad.

The biggest economies

Brazil and Mexico are still miles ahead in the race for the biggest economy of Latin America. As of 2023, both nations exceeded the two trillion U.S. dollars mark in their Gross Domestic Product (GDP). While Argentina's GDP, third place, slightly surpassed the 600 billion U.S. dollars. Nonetheless, both nations also ranked as the most populated by far in the region.

Gross national income per capita in Latin America and the Caribbean in 2023, by country (in U.S. dollars)

Characteristic	Income per capita in U.S. dollars
Bahamas	31,990
Puerto Rico	25,240
St. Kitts and Nevis	21,380
Barbados	21,280
Guyana	20,360
Antigua and Barbuda	19,990
Uruguay	19,530
Panama	18,010
Trinidad and Tobago	17,940
Chile	15,820
Costa Rica	13,850
Argentina	12,520
St. Lucia	12,400
Mexico	12,100
St. Vincent and the Grenadines	10,070
Grenada	9,800
Dominican Republic	9,700
Regional average	9,566.2
Brazil	9,070
Dominica	8,920
Belize	7,190
Peru	6,990
Colombia	6,870
Ecuador	6,510
Paraguay	6,200
Jamaica	6,150
Guatemala	5,580
Suriname	5,360
El Salvador	4,920
Bolivia	3,600
Honduras	2,900
Nicaragua	2,270
Haiti	1,740

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Release date

July 2024

More information

Region

LAC

Survey time period

2023

Special properties

Based on current prices

Supplementary notes

No data available for countries or territories excluded from this graph.
Some figures have been rounded.

The source provides the following additional information: "GNI per capita is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies."

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