In detail, the IMF forecast report as of October 2021, showed that Brazil will produce products and services for a total of 3.6 trillion international dollars, adjusted for purchasing power parity.
It is followed by the Mexican economy, which will reach a GDP of 2.9 trillion dollars. Finally, Argentina will add about 1.1 trillion, which makes it clear that they are the three most important markets in Latin America.
And the rest of the countries in the region?
The historical trend shows that Venezuela it used to be the fourth largest Latin American economy from 1980 to the beginning of this century. Already in 2010 it went down a notch, placing itself in fifth place, behind Colombia, which showed great progress.
Since 2017According to reports, Venezuela’s economy shrank compared to other South American countries such as Chile, Peru and Ecuador, so it was relegated to almost the last positions of the table.
According to IMF calculations for 2022, Venezuela will be relegated to the 11th position among the largest economies in the region, also behind Dominican Republic, Guatemala and Panama. If this projection is fulfilled, this would be the first year so far this century without Venezuela and with Panama in the top ten.
The note of these 40 years, according to the report, was given Chile and Dominican Republic, as the countries that have managed to advance more positions in the table.
Chile has consolidated itself as one of the Latin American economies that will grow the most in 2021, and it already has a guaranteed place in fifth position. While the Dominican Republic would advance two boxes, from ninth position in 2001, to seventh in 2022.
Source From: Ambito
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