Latin America and Caribbean Compared by Economy > GDP > Official exchange rate
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DEFINITION:
This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at offical exchange rates (OER) is the home-currency-denominated annual GDP figure divided by the bilateral average US exchange rate with that country in that year. The measure is simple to compute and gives a precise measure of the value of output. Many economists prefer this measure when gauging the economic power an economy maintains vis-a-vis its neighbors, judging that an exchange rate captures the purchasing power a nation enjoys in the international marketplace. Official exchange rates, however, can be artifically fixed and/or subject to manipulation - resulting in claims of the country having an under- or over-valued currency - and are not necessarily the equivalent of a market-determined exchange rate. Moreover, even if the official exchange rate is market-determined, market exchange rates are frequently established by a relatively small set of goods and services (the ones the country trades) and may not capture the value of the larger set of goods the country produces. Furthermore, OER-converted GDP is not well suited to comparing domestic GDP over time, since appreciation/depreciation from one year to the next will make the OER GDP value rise/fall regardless of whether home-currency-denominated GDP changed.
CONTENTS
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# | COUNTRY | AMOUNT | DATE | GRAPH | HISTORY |
---|---|---|---|---|---|
1 | Brazil | $2.22 trillion | 2012 | ||
2 | Mexico | $1.16 trillion | 2012 | ||
3 | Argentina | $468.80 billion | 2012 | ||
4 | Venezuela | $376.10 billion | 2012 | ||
5 | Colombia | $364.00 billion | 2012 | ||
6 | Chile | $264.50 billion | 2012 | ||
7 | Peru | $196.20 billion | 2012 | ||
8 | Ecuador | $82.90 billion | 2012 | ||
9 | Cuba | $72.30 billion | 2012 | ||
10 | Dominican Republic | $58.20 billion | 2012 | ||
11 | Guatemala | $49.55 billion | 2012 | ||
12 | Uruguay | $49.24 billion | 2012 | ||
13 | Costa Rica | $44.50 billion | 2012 | ||
14 | Panama | $35.76 billion | 2012 | ||
15 | Bolivia | $26.86 billion | 2012 | ||
16 | Paraguay | $25.72 billion | 2012 | ||
17 | Trinidad and Tobago | $25.40 billion | 2012 | ||
18 | El Salvador | $23.54 billion | 2012 | ||
19 | Honduras | $18.25 billion | 2012 | ||
20 | Jamaica | $14.64 billion | 2012 | ||
21 | Nicaragua | $10.36 billion | 2012 | ||
22 | The Bahamas | $8.04 billion | 2012 | ||
23 | Haiti | $7.79 billion | 2012 | ||
24 | Bermuda | $5.60 billion | 2011 | ||
25 | Suriname | $4.69 billion | 2012 | ||
26 | Barbados | $4.17 billion | 2012 | ||
27 | Guyana | $2.79 billion | 2012 | ||
28 | Aruba | $2.52 billion | 2009 | ||
29 | Cayman Islands | $2.25 billion | 2008 | ||
30 | Belize | $1.56 billion | 2012 | ||
31 | Saint Lucia | $1.30 billion | 2012 | ||
32 | Antigua and Barbuda | $1.16 billion | 2012 | ||
33 | Grenada | $779.30 million | 2012 | ||
34 | Saint Kitts and Nevis | $724.10 million | 2012 | ||
35 | Saint Vincent and the Grenadines | $703.40 million | 2012 | ||
36 | Dominica | $473.50 million | 2012 |