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The economy of Colombia, here represented by capital Bogota, is now larger than that of Venezuela. (Photo: Bogota City Government)
Monday, May 20, 2013
Special Reports

Colombia GDP Passes Venezuela


Brazil economy again larger than UK and only 10% behind France.

BY LATINVEX STAFF

Brazil has again replaced the United Kingdom as the world’s sixth-largest economy, while Colombia has replaced Venezuela as Latin America’s fourth-largest economy, according to a Latinvex analysis of data from the International Monetary Fund (IMF) for 2013.

Brazil’s GDP now stands at $2.46 trillion, while that of the UK stands at $2.42 trillion. And the Brazilian economy is only 10.3 percent smaller than that of France, the fifth-largest in the world.

Meanwhile, Mexico ranks 14th worldwide thanks to a GDP of $1.3 trillion. That means Mexico’s economy is larger than those of countries like South Korea and The Netherlands but smaller than those of Spain and Australia.

All in all, Latin America’s GDP now stands at $6.0 trillion. That’s nearly the same as the economies of Germany and France combined. If Latin America were a country it would rank as the world’s fourth-largest economy behind the United States, China and Japan. The Latin American GDP is also a little less than half of the Euro area ($12.8 trillion).  

LATIN AMERICA CHANGES

Within Latin America, there are two changes compared with last year. Colombia replaced Venezuela as the fourth-largest economy, while Paraguay replaced Bolivia as the 14th-largest economy.

Colombia’s GDP now stands at $388.4 billion. That compares with $345.7 billion in Venezuela. And Paraguay’s GDP is $30.9 billion compared with $29.5 billion in Bolivia.

Globally, there were also several changes apart from Brazil replacing the UK. Venezuela’s economy is now larger than that of Denmark: $345.7 billion vs. $328.0 billion. And Peru’s GDP  has passed that of Portugal: $220.8 billion vs. $218.4 billion.

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THE NUMBERS

Latin America’s GDP Ranking 2013

Latin America’s GDP Ranking 2012

Latin America’s GDP Ranking 2014

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