What are the wealthiest markets in per capita terms and by size? What are the poorest? We take a closer look.
BY CHRONICLE STAFF
Latin America's ranking of economic size and wealth as measured by purchasing power parity is changing, new data from the International Monetary Fund (IMF) shows.
While Brazil remains the top economy in the region, the smallest economy is no longer Haiti. Now it's Nicaragua that ranks at the bottom, according to a Latin Business Chronicle analysis of the IMF’s latest World Economic Outlook. The IMF expects that to continue this year as well.
Apart from Nicaragua falling behind Haiti, other changes in GDP size include Costa Rica’s economy passing that of Uruguay this year, while Honduras will pass that of Paraguay, according to our analysis.
Meanwhile, the IMF expects Chile to replace Mexico as the richest country in Latin America as measured by GDP based on purchasing power parity (PPP) per capita in current international dollars. Mexico will fall behind not only Chile, but also Argentina, the IMF’s estimates show. And Ecuador will fall behind El Salvador when it comes to PPP per capita.
For complete rankings on GDP in 2008 and estimates for 2009 as well as GDP PPP per capita rankings for 2008 and estimates for 2009, see the links below. (Premium Subscription required).