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BY JOAQUIN BAMRUD
The Dominican Republic has replaced Ecuador as the seventh largest economy in Latin America, according to a Latinvex analysis of the latest data from the International Monetary Fund (IMF). The IMF predicts that the Dominican Republic will also maintain that position during the next five years.
The Dominican GDP now amounts to 120.6 billion dollars, above Ecuador’s 118.7 billion dollars.
Earlier this year, Latinvex reported that the Dominican Republic will become the third richest country in the region in per capita terms in 2028 as a result of having the highest growth rate in Latin America during the 2024-2028 five-year period.
A decade ago, the Dominican Republic was the tenth largest economy in Latin America with a GDP of $62.8 billion, behind countries such as Venezuela, Ecuador and Uruguay. In 2014, the Dominican managed to surpass Uruguay and in 2019, Venezuela.
Brazil remains the largest economy in Latin America, followed by Mexico, Argentina, Colombia, Chile, Peru and now the Dominican Republic, according to latinovex.