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Chilean capital Santiago. Chile is now the fourth-largest economy in Latin America, ahead of Colombia. (Photo: Chile Government)
Wednesday, January 26, 2022
Analysis

Latin America GDP Ranking: Chile Passes Colombia


Chile now fourth-largest economy in Latin America.

BY LATINVEX STAFF

Chile’s economy is now larger than that of Colombia, according to a Latinvex analysis of new data from the International Monetary Fund (IMF). That means Chile now is the fourth-largest economy in Latin America behind Brazil, Mexico and Argentina.

Meanwhile, Costa Rica – which in 2020 passed Panama – is expected to once again lag Panama next year, according to projections from the IMF.

Colombia’s economy grew by 9.9 percent last year, according to the World Bank. That’s the highest growth in more than 100 years, according to the government.

However, Chile’s grew by 11.8 percent, according to World Bank data. That’s the highest rate since the IMF started compiling data in 1980.

And in 2020, Colombia's economy fell 6.8 percent, while that of Chile contracted 5.8 percent.

Although Colombia’s economy is expected to grow faster than that of Chile the next five years, Chile will likely keep its position as the fourth-largest economy at least through 2026, according to IMF projections.

Brazil, Latin America’s top economy, ranks 12th worldwide, while Mexico – the second-largest in Latin America – ranks 15th, according to Latinvex and IMF data.


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THE NUMBERS

Latin America’s GDP Ranking (2021-23)
 

 

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