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BiggerDominican Republic rises to 7th place among the highest GDP PPPs in Latin America
The DR surpasses nations with strong economies, such as Argentina, Mexico, Brazil, Colombia, Peru, and Paraguay, with the highest GDP per capita PPP.
According to a list of 190 countries published by Global Finance magazine, the Dominican Republic has become the seventh richest country in Latin America and the Caribbean, with a Gross Domestic Product per capita measured in Purchasing Power Parity (PPP) amounting to US$27,120.
The country surpasses nations with strong economies, such as Argentina, with a GDP per capita-PPP of US$26,390, Mexico (US$25,963), Brazil (US$20,809), Colombia (US$19,770), Peru (US$16,631) and Paraguay (US$16,291).
The six countries that surpass the Dominican Republic are Panama, which leads the ranking with a GDP per capita PPP of US$44,797, Puerto Rico (US$43,219), Trinidad and Tobago (US$32,685), Chile (US$31,005), Uruguay (US$30,170) and Costa Rica (US$28,558).
Luxembourg tops the global ranking with a GDP per capita PPP of $143,743. Haiti, which shares the island of Santo Domingo with the Dominican Republic, ranks last in the region and 170th globally, with a GDP per capita-PPP of US$3,108.
The Dominican Republic has positioned itself as the seventh most prosperous country in the region and the seventy-first in the world thanks to the vibrant economic growth it has registered in decades and the stability of its currency.
It is relevant to point out that purchasing power parity has a special value when comparing wealth between countries because it is one of the most appropriate measures. Unlike nominal GDP, it makes it possible to disassociate the abrupt variations that may exist in the exchange rate between a local currency and the dollar from one year to the next.
In other words, it is an indicator that eliminates what is defined as a monetary illusion, which is linked to an eventual devaluation or a rather sudden revaluation of a given currency against that of the United States. This is especially true considering that most of the inhabitants of a given nation receive their salaries and make their purchases with their currency instead of using dollars, although imported goods are expressed in dollarized prices.
Still first in motorvehicle deaths and race based birthrite racism !. You never beat them at that !. great country !
Need a tissue to wipe those tears?
You should learn to spell PLATANO before posting nonsense!
He’s a Haitian troll, pay him no mind.
Oh shut up troll your country Haiti’s constitution is the same as Dominican Republic! So it means yall are racist too????
So jealous, SO envious! I don’t blame you, Haitiano.
It is very simple; just cross the border to your side of the island and be happy. No one is forcing you to be in the Dominican Republic
Doesn’t matter if they are 7th or 1st. The poor will continue to struggle. The rich will continued to prosper off the backs of the poor, especially the rich in Spain. Infrastructure as far as roads will continue to be substandard. Small communities will continue to go without running water. So what good is this. Can’t continue to pay those people $300 to $400 for 200 to 240 hours of work and expect the average family to be able to take care of themselves. Do better.
To be fair, salaries and wages for the lower class in DR have stagnated in large part because of the migratory problem. Illegal immigrants are willing to work for much lower pay than the average Dominican, so this creates little incentive for companies to increase salaries in low-skilled labor. But in spite of the odds, the country still has a growing and bustling middle class, which now make up the majority, hence the steady rise in the GDP per capita.
In a few years we will be top three. The economy in the Dominican Republic is booming right now with the tourism. The resorts are amazing and they’re just getting better last year we were second to Mexico in tourist visits.
I feel like the best measure to combat these non Dominican posters who are clearly either Haitian or African Americans is by posting in Spanish and ignoring them. These people are so annoying. im tired of seeing their comments on every page being so disrespectful towards Dominican people and the country. This website needs better moderation. Ban these weirdos please.
You are making an assumption.. how do you know they are not Puerto Rican. Puerto Ricans and Dominicans have some tension between them. So for all you know it could be a Puerto Rican or even a Mexican posting those negative responses. And it’s outright silly to think posting in Spanish will stop it. Try posting in Spanish and I wonder what your excuse will be when you STILL HAVE TROLLS.
As someone that has been visiting this platform for years, I can tell you that Puerto Ricans (or other Hispanics for that matter) do not come on this site and post hate comments. That has not been a trend. Most, if not all, of the troll comments I see here are definitely coming from Haitians, many of them use anonymous accounts to try and fool people.
Based on the graph projection, Dominican Republic would actually be in 6th place within the region, not 7th, because Trinidad & Tobago is not part of Latin America.