The average income of someone living in the Dominican Republic, as measured by Gross National Income (GNI) per capita, was $8,100 in 2021. When considering the available data from 2018 to 2021, the average GNI per capita stands at approximately $7,735. This figure provides insight into the economic prosperity and living standards within the country.
Understanding Gross National Income (GNI) Per Capita
Gross National Income (GNI) per capita is a widely used economic indicator that represents the total income earned by a country's residents and businesses, including income earned abroad, divided by its mid-year population. It serves as a valuable metric for understanding the average income level and economic well-being of a nation's citizens. While GNI per capita gives an overall average, it's important to note that actual individual incomes can vary significantly due to income distribution disparities.
Dominican Republic's GNI Per Capita Trends
Analyzing the GNI per capita over several years reveals the economic trajectory of the Dominican Republic. The data illustrates a general upward trend, reflecting economic growth, with some fluctuations.
GNI Per Capita in the Dominican Republic (2018-2021)
The following table presents the Gross National Income per capita for the Dominican Republic in recent years:
| Year | Income per capita in U.S. dollars |
|---|---|
| 2021 | $8,100 |
| 2020 | $7,170 |
| 2019 | $7,990 |
| 2018 | $7,680 |
As observed from the figures, the GNI per capita saw a notable increase from $7,680 in 2018 to $7,990 in 2019, indicating healthy pre-pandemic growth. In 2020, likely influenced by global economic slowdowns, there was a dip to $7,170. However, the economy demonstrated resilience with a significant rebound in 2021, reaching $8,100, which reflects a strong recovery and continued economic development. This recent peak signifies progress in the overall income generation within the country.
