List of South American countries by GDP

Source IMF World Economic Outlook (October-2024)
Date07 Nov 2024

Brazil is the largest economy in South America, followed by Argentina, Chile, Colombia, and Peru. Together, these five hold a huge 90% share of the South American economy. Suriname has the smallest economy in South America.

One economy of South America would have a GDP above $1 trillion, and seven would have an economy above $100 billion. There would be no change in South American nominal ranking in 2024. Brazil is the only South American economy in the top ten largest economies globally, and five economies are within the top 50 world GDP rankings.

Out of 12 economies, the nominal GDP of 10 would increase, and two economies would decrease in 2024 compared to 2023. Colombia ($53.6 bn), Peru ($16.4 bn), and Brazil ($14.7 bn) will be the top contributors. Argentina and Chile are the two decliners.

In PPP data, the five largest economies of South America are Brazil, Argentina, Colombia, Chile, and Peru. Three economies would have a GDP above Int. $1 trillion in 2024, and ten would have an economy above Int. $100 billion. There will be no change in PPP ranking in 2024. Only one South American economy, Brazil, is in the top ten list, and five economies are within the top 50 world GDP rankings.

Out of 12 economies, the GDP (PPP) of 11 would increase, and one economy would decrease in 2024 compared to 2023. Again, Brazil (Int. $245 bn) will be the top contributor, followed by Colombia (Int. $44 bn). Argentina is the sole decliner.

All economies have higher GDP on a PPP basis, with Bolivia having the highest PPP to nominal ratio of 2.89, while Uruguay has the lowest figure of 1.49.

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GDP (Nominal)

Code Country/Economy GDP (billions of $) Share (%) Rank
20242025ChangeS. AmericaWorld S. AmericaWorld
ARGArgentina604.382574.201-30.18113.00.497226
BOLBolivia48.17251.3023.1301.160.0444995
BRABrazil2,188.4192,307.162118.74352.32.00110
CHLChile328.720362.24033.5208.220.314444
COLColombia417.207419.3312.1249.510.363340
ECUEcuador121.425125.6584.2332.850.109664
GUYGuyana23.03324.4831.4500.5550.021211122
PRYParaguay44.93746.8031.8661.060.040510101
PERPeru283.309294.89811.5896.690.255550
SURSuriname4.9184.9570.0390.1120.0042912162
URYUruguay82.48286.4233.9411.960.0748882
VENVenezuela106.327109.9573.6302.490.0952772
South America 4,253.331 4,407.415 154.084 3.82
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GDP (PPP)

Code Country/Economy GDP (billions of Int. $) Share (%) Rank PPP/Nom
20242025ChangeS. AmericaWorld S. AmericaWorld
ARGArgentina1,353.8041,447.25093.44614.60.7082312.520
BOLBolivia139.158144.8045.6461.460.07088922.823
BRABrazil4,702.0044,890.950188.94649.52.39182.120
CHLChile674.388702.97928.5917.110.3444431.941
COLColombia1,129.6381,178.73449.09611.90.5763322.811
ECUEcuador296.728305.8559.1273.090.1506652.434
GUYGuyana62.65172.99710.3460.7380.0357111152.982
PRYParaguay127.416134.6617.2451.360.06599942.877
PERPeru605.570632.73227.1626.400.3095482.146
SURSuriname13.85014.5230.6730.1470.00710121602.930
URYUruguay123.223129.2526.0291.310.063210961.496
VENVenezuela222.356233.17510.8192.360.1147772.121
South America 9,450.786 9,887.912 437.126 4.84 2.243