Argentina became the richest country in Latin America in 2009 as measured by GDP per capita purchasing power parity, PPP, according to a Latin Business Chronicle analysis based of new data from the International Monetary Fund.
Argentina replaced Chile, which was ranked as the richest the previous analysis. Argentina’s GDP per capita based on purchasing power parity (PPP) in international dollars reached 14.561 US dollars, which represents a 1.1% increase over 2008 while Chile managed second best with 14.341 US dollars following a 1.7% drop.
However, Latin Business Chronicle also admits that the rating is not without controversy since many economists have doubts about “Argentina’s official INDEC statistics”, which are used by the International Monetary Fund (IMF) to elaborate its data.
Mexico figures third with a GDP per capita purchasing power parity of 13.628 US dollars, a fall of 6.2% compared to 2008.
Uruguay meantime replaced Venezuela as the fourth richest per capita country in the region. Uruguay’s GDP per capita purchasing power parity increased 3.7% to 13.163 US dollars while Venezuela dropped 4.1% to 12.201 US dollars.
Panama figures sixth, with 11.788 US dollars, up 1.8%. In Central America, Costa Rica remains as the richest nation in the region with 10.579 US dollars down 1.8% compared to 2008.