Preliminary Overview of the Economy of Latin America and the Caribbean – serie

The 2024 edition of Preliminary Overview of the Economies of Latin America and the Caribbean examines the behavior of the region’s economies over the current year and updates estimates for growth and other economic indicators. Specifically, this annual report presents new gross domestic product (GDP) estimates for the region and all its countries in 2024 as well as projections for 2025. The document analyzes the economic and social dynamics of the year that is about to end and discusses the policy risks and challenges that the region will face in 2025 for fostering a transformative recovery.

This publication highlights a regional slowdown in GDP growth. It argues that the currency depreciation seen in several countries in the region could, if sustained, increase incentives for investment in tradeable sectors other than the region’s traditional exports (commodities), while redirecting expenditure to ease pressure on the current account. Growth-supporting industrial, trade, environmental, social and labour policies that take into account the needs of small and medium-sized enterprises, could help lessen the region’s structural heterogeneity. Growth combined with greater equality would thus gain economic and social sustainability, with greater reliance from investment and exports than before. It is argued that this combination would be aided by social covenants for investment.

This edition of Preliminary Overview of the Economies of Latin America and the Caribbean analyzes the economic and social dynamics at play last year, and explores the risks and policy challenges that the region will face in 2022 for driving a transformative recovery. More specifically, the document presents new Gross Domestic Product (GDP) estimates for the region and all of its countries in 2021, along with projections for 2022.