List of North American countries by GDP

Source International Monetary Fund World Economic Outlook (October-2023)
Date12 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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GDP (Nominal)

Country/Economy GDP (billions of $) Share (%) Rank
20232024ChangeN. AmericaWorld N. AmericaWorld
Antigua and Barbuda1.9542.1270.1730.006300.0019420177
Aruba3.9374.0690.1320.01200.0037117164
The Bahamas13.81614.3900.5740.04260.013115142
Barbados6.3886.8630.4750.02030.0062716156
Belize3.0943.2960.2020.009760.0030118166
Canada2,140.0862,242.182102.0966.642.05210
Costa Rica86.50996.0589.5490.2840.0877772
Dominica0.6580.7080.0500.002100.0006524188
Dominican Republic119.966127.3567.3900.3770.116463
El Salvador34.01635.3331.3170.1050.032310105
Grenada1.3281.4060.0780.004160.0012821182
Guatemala102.036110.0357.9990.3260.100666
Haiti21.53324.0462.5130.07120.022012118
Honduras34.88637.3552.4690.1110.03419103
Jamaica18.88420.0981.2140.05950.018313129
Mexico1,788.8972,017.025228.1285.971.84312
Nicaragua17.41218.8291.4170.05570.017214130
Panama83.38287.3473.9650.2590.0797876
Puerto Rico115.799117.7631.9640.3490.108565
St. Kitts and Nevis1.0681.1340.0660.003360.0010422184
St. Lucia2.4642.5820.1180.007640.0023619172
St. Vincent and the Grenadines1.0411.1280.0870.003340.0010323185
Trinidad and Tobago28.14228.3650.2230.08400.025911113
United States27,357.82528,781.0831,423.25885.226.311
North America 31,985.121 33,780.578 1,795.457 30.84
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GDP (PPP)

Country/Economy GDP (billions of Int. $) Share (%) Rank PPP/Nom
20232024ChangeN. AmericaWorld N. AmericaWorld
Antigua and Barbuda2.6042.8290.2250.007840.00152201801.330
Aruba5.6575.8570.2000.01620.00315171731.439
The Bahamas18.12518.9890.8640.05260.0102151521.320
Barbados5.6395.9890.3500.01660.00323161710.873
Belize4.9155.2040.2890.01440.00280181741.579
Canada2,386.4602,472.22785.7676.851.333161.103
Costa Rica142.845152.1419.2960.4220.08197881.584
Dominica1.0681.1440.0760.003170.00062241861.616
Dominican Republic271.903293.36521.4620.8130.1584632.304
El Salvador75.98480.1514.1670.2220.043291052.268
Grenada2.3462.5020.1560.006940.00135211811.780
Guatemala201.211213.27612.0650.5910.1155761.938
Haiti38.76238.506-0.2560.1070.0207131401.601
Honduras75.37879.9754.5970.2220.0431101062.141
Jamaica35.71937.2391.5200.1030.0201141411.853
Mexico3,275.7993,434.224158.4259.521.852121.703
Nicaragua51.78454.8903.1060.1520.0296111242.915
Panama192.444202.0139.5690.5600.1096782.313
Puerto Rico133.964136.9212.9570.3800.07378931.163
St. Kitts and Nevis1.7341.8600.1260.005160.00100231841.640
St. Lucia3.4413.6100.1690.01000.00194191781.398
St. Vincent and the Grenadines1.9782.1330.1550.005910.00115221821.891
Trinidad and Tobago44.52846.6792.1510.1290.0251121321.646
United States27,357.82528,781.0831,423.25879.815.5121.000
North America 34,332.113 36,072.807 1,740.694 19.43 1.068