8) Puerto Rico – GDP: $103.5 Billion

Puerto Rico is a high-income economy. It is the most competitive economy in the region. The nation’s economy is driven by manufacturing, followed by the service industry. Inequality is a major economic challenge for Puerto Rico. Around 41 percent of its population lives below the poverty line.

7) Peru – GDP: $368.777 Billion

Peru has an upper middle income economy. It is one of the world’s fastest growing economies with a high Human Development Index. The nation’s economic performance has been tied to exports.