List of North American countries by GDP
Source | International Monetary Fund World Economic Outlook (October-2023) |
Date | 12 Feb 2024 |
The United States is the largest economy in North America, followed by Canada and Mexico. These three together hold a huge 97.75 % share of the North American economy. Dominica is the smallest economy in North America.
Three economies of North America would have gdp above $1 trillion, and six would have an economy of above $100 billion. In 2023, there would be two changes in the North American nominal ranking with Dominican Republic overtaking Puerto Rico and Costa Rica overtaking Panama. Two North American economies are in the list of top ten largest economies globally as it hosts The United States and Canada, the world's largest and 10th largest economy. Three economies are within the top 50 world gdp ranking.
Out of 24 economies, gdp (nominal) of 22 would increase, and two economies would decrease in 2023 compared to 2022. With $1.49 tn, United States will be the top contributor, accounting for 80% of the increase in the North American economy. Mexico ($346 bn) and Costa Rica ($17 bn) are other top contributors. The two decliners would be Canada and Trinidad and Tobago.
In ppp data, Mexico is at 2nd position replacing Canada which is 2nd in nominal data. Dominican Republic and Guatemala completes the top five list. Three economies would have gdp above Int. $1 trillion in 2023 and eight would have an economy of above Int. $100 billion. There would be no change in ppp ranking. Only one North American economy, United States, is in the top ten list, and three economies are within the top 50 world gdp ranking.
Out of 24 economies, gdp (ppp) of all 24 would increase in 2023 compared to 2022. United States (Int. $1487 bn), Mexico (Int. $214 bn), and Canada (Int. $114 bn) would be the top gainers.
Twenty three economies have higher GDP on a PPP basis, and one have higher on a nominal basis. Nicaragua has highest ppp to nominal ratio above 3, while Barbados have lowest figure of 0.88.
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- Nominal
- Change in Nominal
Country/Economy | GDP (billions of $) | Share (%) | Rank | ||||
---|---|---|---|---|---|---|---|
2022 | 2023 | Change | N. America | World | N. America | World | |
Antigua and Barbuda | 1.758 | 1.949 | 0.191 | 0.00617 | 0.00187 | 20 | 179 |
Aruba | 3.545 | 3.827 | 0.282 | 0.0121 | 0.00366 | 17 | 162 |
The Bahamas | 12.897 | 13.876 | 0.979 | 0.0439 | 0.0133 | 15 | 142 |
Barbados | 5.685 | 6.220 | 0.535 | 0.0197 | 0.00595 | 16 | 157 |
Belize | 2.985 | 3.218 | 0.233 | 0.0102 | 0.00308 | 18 | 166 |
Canada | 2,137.939 | 2,117.805 | -20.134 | 6.71 | 2.03 | 2 | 10 |
Costa Rica | 68.373 | 85.590 | 17.217 | 0.271 | 0.0819 | 7 | 74 |
Dominica | 0.627 | 0.697 | 0.070 | 0.00221 | 0.00067 | 24 | 187 |
Dominican Republic | 113.873 | 120.629 | 6.756 | 0.382 | 0.115 | 4 | 63 |
El Salvador | 32.489 | 35.339 | 2.850 | 0.112 | 0.0338 | 9 | 102 |
Grenada | 1.216 | 1.306 | 0.090 | 0.00414 | 0.00125 | 21 | 182 |
Guatemala | 95.004 | 102.765 | 7.761 | 0.325 | 0.0984 | 6 | 69 |
Haiti | 20.535 | 25.986 | 5.451 | 0.0823 | 0.0249 | 12 | 114 |
Honduras | 31.523 | 33.992 | 2.469 | 0.108 | 0.0325 | 10 | 103 |
Jamaica | 17.003 | 18.761 | 1.758 | 0.0594 | 0.0180 | 13 | 130 |
Mexico | 1,465.854 | 1,811.468 | 345.614 | 5.74 | 1.73 | 3 | 12 |
Nicaragua | 15.671 | 17.353 | 1.682 | 0.0549 | 0.0166 | 14 | 131 |
Panama | 76.523 | 82.348 | 5.825 | 0.261 | 0.0788 | 8 | 76 |
Puerto Rico | 115.017 | 117.515 | 2.498 | 0.372 | 0.112 | 5 | 65 |
St. Kitts and Nevis | 0.966 | 1.069 | 0.103 | 0.00338 | 0.00102 | 22 | 184 |
St. Lucia | 2.297 | 2.469 | 0.172 | 0.00782 | 0.00236 | 19 | 172 |
St. Vincent and the Grenadines | 0.947 | 1.039 | 0.092 | 0.00329 | 0.00099 | 23 | 185 |
Trinidad and Tobago | 30.053 | 27.887 | -2.166 | 0.0883 | 0.0267 | 11 | 112 |
United States | 25,462.725 | 26,949.643 | 1,486.918 | 85.3 | 25.8 | 1 | 1 |
North America | 29,715.505 | 31,582.751 | 1,867.246 | 30.23 |
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- PPP
- Change in PPP
Country/Economy | GDP (billions of Int. $) | Share (%) | Rank | PPP/Nom | ||||
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2022 | 2023 | Change | N. America | World | N. America | World | ||
Antigua and Barbuda | 2.376 | 2.601 | 0.225 | 0.00767 | 0.00149 | 20 | 180 | 1.335 |
Aruba | 5.187 | 5.502 | 0.315 | 0.0162 | 0.00315 | 16 | 172 | 1.438 |
The Bahamas | 16.780 | 18.146 | 1.366 | 0.0535 | 0.0104 | 15 | 153 | 1.308 |
Barbados | 5.017 | 5.436 | 0.419 | 0.0160 | 0.00311 | 17 | 173 | 0.874 |
Belize | 4.666 | 5.032 | 0.366 | 0.0148 | 0.00288 | 18 | 175 | 1.564 |
Canada | 2,265.320 | 2,378.973 | 113.653 | 7.02 | 1.36 | 3 | 16 | 1.123 |
Costa Rica | 130.734 | 141.527 | 10.793 | 0.417 | 0.0809 | 7 | 88 | 1.654 |
Dominica | 0.985 | 1.069 | 0.084 | 0.00315 | 0.00061 | 24 | 186 | 1.534 |
Dominican Republic | 256.390 | 273.703 | 17.313 | 0.807 | 0.157 | 4 | 65 | 2.269 |
El Salvador | 70.316 | 74.505 | 4.189 | 0.220 | 0.0426 | 10 | 106 | 2.108 |
Grenada | 2.142 | 2.307 | 0.165 | 0.00680 | 0.00132 | 21 | 181 | 1.766 |
Guatemala | 187.778 | 201.365 | 13.587 | 0.594 | 0.115 | 5 | 76 | 1.959 |
Haiti | 38.142 | 38.952 | 0.810 | 0.115 | 0.0223 | 13 | 137 | 1.499 |
Honduras | 70.330 | 75.030 | 4.700 | 0.221 | 0.0429 | 9 | 105 | 2.207 |
Jamaica | 33.750 | 35.690 | 1.940 | 0.105 | 0.0204 | 14 | 141 | 1.902 |
Mexico | 3,064.000 | 3,277.601 | 213.601 | 9.67 | 1.87 | 2 | 12 | 1.809 |
Nicaragua | 47.768 | 51.022 | 3.254 | 0.150 | 0.0292 | 11 | 124 | 2.940 |
Panama | 173.166 | 190.306 | 17.140 | 0.561 | 0.109 | 6 | 79 | 2.311 |
Puerto Rico | 128.266 | 132.052 | 3.786 | 0.389 | 0.0755 | 8 | 92 | 1.124 |
St. Kitts and Nevis | 1.619 | 1.760 | 0.141 | 0.00519 | 0.00101 | 23 | 184 | 1.646 |
St. Lucia | 3.225 | 3.452 | 0.227 | 0.0102 | 0.00197 | 19 | 177 | 1.398 |
St. Vincent and the Grenadines | 1.798 | 1.980 | 0.182 | 0.00584 | 0.00113 | 22 | 182 | 1.906 |
Trinidad and Tobago | 41.080 | 43.658 | 2.578 | 0.129 | 0.0250 | 12 | 131 | 1.566 |
United States | 25,462.725 | 26,949.643 | 1,486.918 | 79.5 | 15.4 | 1 | 2 | 1.000 |
North America | 32,013.560 | 33,911.312 | 1,897.752 | 19.4 | 1.074 |