List of North American countries by GDP (nominal)

Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries in North America are sorted by nominal GDP estimates based on 2018 data from the World Economic Outlook by the International Monetary Fund.[1]

The United States is the largest economy in North America, comprising over 86% of the continent's gross domestic product.

  United States (86.12%)
  Canada (6.79%)
  Mexico (5.03%)
  Other (2.06%)

The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency.[2] Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population.[3] Therefore, these figures should be used with caution.

Some countries/regions may have citizens which are on average wealthy. These countries/regions could appear in this list as having a small GDP. This would be because the country/region listed has a small population, and therefore small total economy; the GDP is calculated as the population times market value of the goods and services produced per person in the country.[4]

Comparisons of national wealth are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP.[5] On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures.[6]

List

Region
Rank
World
Rank
Country
2018 GDP (nominal)[7]
millions of International dollars
North America23,953,501
11 United States20,412,870
210 Canada1,798,512
315 Mexico1,212.831
469 Guatemala78,356
576 Dominican Republic80,413
-- Cuba68,234 (2013)
670 Panama66,711
775 Costa Rica61,287
8100 El Salvador29,407
9104 Honduras24,021
10106 Trinidad and Tobago22,158
11118 Jamaica15,256
12121 Nicaragua14,532
13136 The Bahamas12,318
14139 Haiti9,417
15151 Barbados5,317
16166 Belize1,912
17171 Saint Lucia1,755
18172 Antigua and Barbuda1,612
19175 Grenada1,180
20176 Saint Kitts and Nevis972
21180 Saint Vincent and the Grenadines835
22182 Dominica476

See also

References

  1. Moffatt, Mike. "A Beginner's Guide to Purchasing Power Parity Theory". About.com. IAC/InterActiveCorp. Retrieved 31 May 2014.
  2. Ito, Takatoshi; et al. (January 1999). "Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia" (PDF). Changes in Exchange Rates in Rapidly Development Countries: Theory, Practice, and Policy Issues. National Bureau of Economic Research. Retrieved 1 June 2014.
  3. "What is GDP and why is it so important?". Investopedia. IAC/InterActiveCorp. 26 February 2009. Retrieved 30 May 2014.
  4. Callen, Tim (28 March 2012). "Purchasing Power Parity: Weights Matter". Finance & Development. International Monetary Fund. Retrieved 30 May 2014.
  5. Callen, Tim (28 March 2012). "Gross Domestic Product: An Economy's All". Finance & Development. International Monetary Fund. Retrieved 31 May 2014.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.