The economy of Colombia is the fourth largest in Latin America as measured by gross domestic product. Colombia has experienced a historic economic boom over the last decade. Throughout the 20th century Colombia was Latin America's 4th and 3rd largest economy GDP (PPP) and between 2012-2014 it became the 4th largest in Latin America (nominal) GDP. As of 2018 the GDP (PPP) per capita has increased to over US$14,000, and GDP (PPP) increased from US$250 billion in 1990 to nearly US$800 billion. Poverty levels were as high as 65% in 1990, but decreased to under 30% by 2014.