Central America is a region that consists of seven countries, including Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama. In this article, we will explore the current Gross Domestic Product (GDP) of each country in Central America and analyze their economic growth.
Table of Contents
Table of Contents
Central America is a region that consists of seven countries, including Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama. In this article, we will explore the current Gross Domestic Product (GDP) of each country in Central America and analyze their economic growth.
What is GDP?
GDP is the total value of goods and services produced within a country's borders during a specific period. It is used to measure a country's economic growth and standard of living.
What is the GDP of Belize?
Belize has a population of approximately 400,000 and a GDP of $3.1 billion. Despite being the smallest country in Central America, Belize's economy has been growing steadily over the years, mainly driven by tourism and agriculture.
What is the GDP of Costa Rica?
Costa Rica has a population of approximately 5 million and a GDP of $61.5 billion, making it the second-largest economy in Central America. The country's economy is driven by tourism, electronics, and agriculture.
What is the GDP of El Salvador?
El Salvador has a population of approximately 6.4 million and a GDP of $26.4 billion. The country's economy is mainly driven by the service sector, including finance and telecommunications.
What is the GDP of Guatemala?
Guatemala has a population of approximately 18 million and a GDP of $83.8 billion. The country's economy is driven by agriculture, including coffee, sugar, and bananas.
What is the GDP of Honduras?
Honduras has a population of approximately 10 million and a GDP of $23.2 billion. The country's economy is driven by agriculture, including coffee, palm oil, and bananas.
What is the GDP of Nicaragua?
Nicaragua has a population of approximately 6.6 million and a GDP of $13.8 billion. The country's economy is mainly driven by agriculture, including coffee, tobacco, and beef.
What is the GDP of Panama?
Panama has a population of approximately 4 million and a GDP of $71.2 billion. The country's economy is mainly driven by the Panama Canal, which generates significant revenue for the country. Additionally, the service sector, including banking, tourism, and logistics, also contributes significantly to the country's GDP.
Conclusion
Central America's economy is diverse, with each country having its strengths and weaknesses. However, the region's economy has been growing steadily over the years, with some countries experiencing faster growth than others. It is essential to note that the COVID-19 pandemic has had a significant impact on the region's economy, with some countries experiencing a decline in GDP. Nevertheless, Central America remains an attractive region for investment opportunities, with many industries showing great potential for growth.
