Latinos have once again powered major growth for the U.S. economy, according to a new report from researchers at UCLA and Cal Lutheran. The annual U.S. Latino GDP report found that the total economic output, or gross domestic product, of Latinos in the United States hit a record high, reaching $4.1 trillion in 2023, up from $3.7 trillion in 2022.
Similar to last year’s report, this data shows that the GDP of the U.S. Latino population equates to the fifth largest in the world compared to other economies, topping India, the United Kingdom and France.
The 2025 U.S. Latino GDP Report is the eighth annual release that documents the large and rapidly growing economic contributions of Latinos in the United States. Produced by the UCLA Center for the Study of Latino Health and Culture and Cal Lutheran’s Center for Economic Research and Forecasting, the researchers found that even with the COVID-19 pandemic, the Latino GDP also saw the fastest growth among major economies, including China, and outpaced even the broader economy in the United States when comparing 2019 to 2023.
https://newsroom.ucla.edu/releases/us-latino-gdp
