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
20232024ChangeS. AmericaWorld S. AmericaWorld
ARGArgentina645.511604.382-41.12914.20.549225
BOLBolivia45.46848.1722.7041.130.0438995
BRABrazil2,173.6712,188.41914.74851.51.99110
CHLChile335.642328.720-6.9227.730.299446
COLColombia363.570417.20753.6379.810.379338
ECUEcuador118.845121.4252.5802.850.110664
GUYGuyana17.05023.0335.9830.5420.020911121
PRYParaguay42.95544.9371.9821.060.04081099
PERPeru266.912283.30916.3976.660.257550
SURSuriname3.7474.9181.1710.1160.0044712161
URYUruguay77.24182.4825.2411.940.0749882
VENVenezuela99.203106.3277.1242.500.0966772
South America 4,189.815 4,253.331 63.516 3.86
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GDP (PPP)

Code Country/Economy GDP (billions of Int. $) Share (%) Rank PPP/Nom
20232024ChangeS. AmericaWorld S. AmericaWorld
ARGArgentina1,369.9021,353.804-16.09814.30.6962312.240
BOLBolivia133.771139.1585.3871.470.07158922.889
BRABrazil4,456.6114,702.004245.39349.82.42172.149
CHLChile642.824674.38831.5647.140.3474432.052
COLColombia1,085.4361,129.63844.20212.00.5813322.708
ECUEcuador288.797296.7287.9313.140.1536652.444
GUYGuyana42.54862.65120.1030.6630.0322111202.720
PRYParaguay119.888127.4167.5281.350.06559932.835
PERPeru574.258605.57031.3126.410.3115482.137
SURSuriname13.13813.8500.7120.1470.00712121592.816
URYUruguay116.640123.2236.5831.300.063310961.494
VENVenezuela210.817222.35611.5392.350.1147772.091
South America 9,054.630 9,450.786 396.156 4.86 2.222