We expect Latin American economies to expand in 2017 after a contraction in 2016. This is mainly due to recovery in Brazil and Argentina, whereas Mexico will continue to grow moderately. We expect online retail in Latin America to grow at a compound annual growth rate (CAGR) of 16.6% and reach $45 billion in 2021. The growth rates are also improved by the recovery of currency exchange rates. Brazil remains the largest market, while Mexico will be the fastest-growing online retail market in Latin America. Our forecast details online retail growth across 10 product categories and three markets.