per capita income

wadek798

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Aug 25, 2006
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I am curious to know the average medium income for the DR. I will be retiring from the US military in about 2 to 3 yrs and was curious about what to expect from my retirement income.
 

J D Sauser

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Nov 20, 2004
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I am curious to know the average medium income for the DR. I will be retiring from the US military in about 2 to 3 yrs and was curious about what to expect from my retirement income.

You do not want to base your calculation of retirement needs on the average per capita income, which some statistics seem to indicate is around USD 200.oo per month.

The reason why YOU can't calculate like them is, that most locals live in large families together, help each other, share and so forth. You will probably not benefit from that social network and have to live on your income alone... or maybe eventually even share it with others.

... J-D.
 

chola1978

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Mar 20, 2006
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Well may be this can help. My grandmother a retire Nurse get about 14000 pesos per month from the Seguro Social where she work for 47 years. On top of that Her kids give her about another 8 or 10 per month and she has a working class lifestyle .for someone that has all the illness of a person working 40 something years in a hospital the amount of money she get goes to feed her medical bills.
So if your have your home free and clear, a good income ob about 700-900 USd dollar and a simple life style mentality this would be heaven. Just my humble opinion. By the way my grandmother lives in a Bario of Santiago so she does benefit form some the things JD was mentioning.
Suerte.
 

NALs

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Jan 20, 2003
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Well, to answer the OP's question:

Per capita GDP (PPP) in 2006 was US$8,400 or RD$268,800. Source

Ranking all countries based on per capita GDP (PPP) places the Dominican Republic at 106 of 229 countries or 54th percentile, meaning that the DR is "wealthier" than 54% of the world's countries, at least when it comes to production of wealth on a per capita basis.

The DR's per capita income on a purchasing power parity basis is higher than:

104. Panama $8,200
109. China $7,700
114. Venezuela $7,200
119. Peru $6,600
133. El Salvador $4,900
139. Jamaica $4,600
141. Ecuador $4,500
159. Nicaragua $3,100
188. Haiti $1,800 (the DR is almost 5 times wealthier, despite sharing the same island)
228. Somalia $600 (the DR is 14 times wealthier)

For comparison:

1. Luxembourg $71,400 (roughly 9 times wealthier than the DR)
5. United Arab Emirates $49,700
9. United States $44,000 (roughly 5 times wealthier than the DR)
28. United Kingdom $31,800
37. Gibraltar $27,900
59. Puerto Rico $19,300 (slightly more than twice as wealthy as the DR)

(Source)

-NALs
 
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Lambada

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Mar 4, 2004
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With the greatest of respect, Nals, how is the comparative data going to help someone 'retiring from the US military in about 2 to 3 yrs and curious about what to expect from his retirement income'?

OK so wadek798 probably phrased his/her question a little obtusely - did you mean, wadek, 'what sort of lifestyle will my US military retirement pension purchase in the DR?'. If you don't want to tell us what the figure is then do a search using search function at top of page using terms like 'cost of living' 'living on retirement pension' etc etc. There has been quite a lot written on this. Or state a ball park figure if you want to. I'm afraid being neither from the US nor ex-military myself I do not have a clue as to the sort of figure you might be meaning.

And JD is right. Whatever your pension is it will be a lot higher than the average medium income here but a retired US and a retired Dominican lifestyle are two very different things. And of course, as Nals tells us, such a pension would purchase that much more in Somalia................:rolleyes: which just has to be the one place a retired US military person would want to retire.........
 

Chip

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Jul 25, 2007
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We had a retired fellow as a member of DR1 pass away recently unfortunately and by all accounts he was able to live relatively comfortable on his retirement. I understood that he was an NCO.

A decent house can be rented in Santiago and campo areas for RD6000 and food and so forth will set you back probably RD15-20k a month for a grand total of RD21-26k. You will be able to live relatively good, albeit not being able to eat out a lot or buying a lot of imported goods.
 

jaguarbob

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Mar 2, 2004
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I am curious to know the average medium income for the DR. I will be retiring from the US military in about 2 to 3 yrs and was curious about what to expect from my retirement income.

I am a retired military,and live quite well on$2500.USD a month.What a Dominican makes has not much to do with your life style.I do not have a car,as I can travel the city for 15 to 20 pesos anywhere,or get a cab in front of my house for 150pesos,or walk,which I do very often. .I have a small house in Samana,and get the guagua from here to in front of my house there for 200 pesos,and about 5 hours of bachata and friendly dominicans.
pm me if you want.
bob
 

NALs

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Jan 20, 2003
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Per Capita GDP in RD$ (2005): RD$97,968.

http://www.bancentral.gov.do/estadisticas_economicas/sector_real/pib_percapita_anual.xls

Nals, haven't I explained this to you on several occasions already? Please stop posting that cia.gov rubbish.


P.S. Even those numbers posted on the DR Central Bank website are exagerated due to the peg of the DR$ to the US$.
1. That figure is nominal and of 2005, the figure I presented is on a purchasing power parity basis and of 2006. In fact, nominal per capita GDP for 2006 was US$2,194 or RD$70,213 based on the CIA figures.

If you don't like what the CIA publishes, well then that's your problem. Plenty of global organizations, many of which are respectable, consult with the CIA intelligence data on various aspects concerning the countries of the world. On the day the majority of those organization reject the data from the CIA will be the day I will do the same.

In fact, figures from the IMF or the CIA are both good as far as I, and a host of organizations, institutions, and other economists, are concerned.

-NALs
 

NALs

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With the greatest of respect, Nals, how is the comparative data going to help someone 'retiring from the US military in about 2 to 3 yrs and curious about what to expect from his retirement income'?
The OP asked for the per capita GDP of the DR and I complied with his request. The rest was simply for comparative purposes.

-NALs
 

suarezn

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Feb 3, 2002
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I would think Mondongo's figures are a lot closer to reality than the "facts" offered by the CIA and IMF. To begin with I think the population is grossly underestimated. Ever since I can remember the population seems to be around 8.5 to 9.0 million inhabitants and doesn't seem to change much. I think we reproduce a lot faster than that...
 

mondongo

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Jan 1, 2002
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==> The official statistic for DR GDP per capita comes from the DR Central Bank. It is RD$97,968 (2005 data). That is not debatable. The IMF uses this number.

==> The reason I post here thread is to promulgate correct information about the DR.

==> No-one in their right mind would ever put hard earned capital at risk by reading cia.gov. I can't believe I actually have to say that!

==> Nals, PPP by definition, cannot be used to to estimate the per capita GDP in local currency. I can't believe I had to say that!


What's that Jethro Tull song?......"Thick as a brick"
 

NALs

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To begin with I think the population is grossly underestimated. Ever since I can remember the population seems to be around 8.5 to 9.0 million inhabitants and doesn't seem to change much. I think we reproduce a lot faster than that...
The population growth rate for the DR has been declining steadily for the past couple of decades.

In fact, in the 1980s, the DR registered a population growth rate of 2.3% vs. today's 1.5%. (Sources: World Geographical Encyclopedia Vol. 2 pg. 154 and this source)

In any case, when Trujillo was killed the country had an estimated 3 million individuals, by 1981 it had risen to 5,647,977; by 1990 it had risen to 7,012,500; it surpased the 8 million mark in 1998/1999 and about a year ago surpased the 9 million mark to today's population estimate of 9,365,818.
(sources: World Geographical Encyclopedia Vol. 2 pags. 153-155 and this source)

-NALs
 

NALs

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Jan 20, 2003
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Mondongo said:
==> The official statistic for DR GDP per capita comes from the DR Central Bank. It is RD$97,968 (2005 data). That is not debatable. The IMF uses this number.
No one is debating such, but rather taking figures from various sources. In fact, all the figures presented here from the CIA comes from the Central Bank of the DR. In fact, that's how the CIA compiles its data set, its all based on what the governments of each of those countries present to them and when updated data is not presented, guess what? It's not updated.

Mondongo said:
==> No-one in their right mind would ever put hard earned capital at risk by reading cia.gov. I can't believe I actually have to say that!
No one in their right mind would invest anything based on what the IMF says either. In fact, investment climate is decided on various sources, including credit ratings, figures from the government on econ growth and stability, ROI figures, and data from CIA and IMF.

Mondongo said:
==> Nals, PPP by definition, cannot be used to to estimate the per capita GDP in local currency. I can't believe I had to say that!
Hm. Let me quote myself:

NALs said:
That figure is nominal and of 2005, the figure I presented is on a purchasing power parity basis and of 2006. In fact, nominal per capita GDP for 2006 was US$2,194 or RD$70,213 based on the CIA figures.

As can be clearly seen from the quote, I made it clear that Mondongo was talking about apples and I about oranges. He posts a nominal figure and attempts to contrast such to the my figure which was based on PPP. In fact, to make a fair comparison, I even went further to take the NOMINAL per capita GDP based on the NOMINAL GDP divided by THE POPULATION number which gave the NOMINAL figure of US$2,194. Because the figure was NOMINAL, I knew that to see how much that is in DOMINICAN PESOS all I had to do was multiply such figure by the exchange rate and using 32:1 as a ballpark estimate of the current exchange rate that lead me to the conclusion of RD$70,213.

Mondongo said:
What's that Jethro Tull song?......"Thick as a brick"
How about "Look in the Mirror" by Rachel Little?

-NALs
 

DRob

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Aug 15, 2007
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Any reason why you guys are at each other's throats?

Nals and Mondongo,

I don't get why there's so much vitriol between you. I mean, I'm certainly not above getting a bit argumentative myself, but I usually am not being serious or personal about it.

Seems like you two, however, have definitely gotten personal. I mean, we're discussing GDP figures. The end of the world, this ain't.

So what's the beef?
 

chola1978

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Mar 20, 2006
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LOLOLOLO I guess the OP got more than he bargain for by asking a statical question. Since I am not a economist I limit my self to giving the OP some info that will be relevant to living here on a retirement income. Bueno as it was said before if you are getting anything about 1000usd per month you can live an okay life here in Santiago.
 

planner

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Sep 23, 2002
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I am curious to know the average medium income for the DR. I will be retiring from the US military in about 2 to 3 yrs and was curious about what to expect from my retirement income.

Actually this is what the OP asked!!! Where does it say anything at all about GDP?????

You boys are arguing over nothing.... go start a thread about that if you want to.

This poster wants to know if he can live comfortably on his pension....

Like Lambada suggested, do some searches, lots has been written regarding costs of living and lifestyles.... My guess is - if you have over 25 years in the military you can probably survive decently on your pension here......
 

bob saunders

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Jan 1, 2002
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I am sure that I will be able to live well on my Canadian Military pension. I could live well on it here in Canada as long as I didn't have huge mortgage payments so in the DR, the same applies. It all comes down to life style, for your $2k or more pension, it shouldn't be difficult as long as you don;t become the pedaho.