Several researcher projects have been found a positive correlation between the entrepreneurship and economic growth. However, this relationship is not clear in economies with a strong participation of informal sector in which the informal enterprises are concentrated in low-productivity activities. Accordingwith that, this paper analyzes the relationship between informal entrepreneurship and productive diversification for twelve countries in Latin America in 2000 and 2010. In despite of significant correlationbetween the variables analyzed for the most countries studied not founded, someof them reported an inverse relationship between informal entrepreneurship and productive diversification.