The poorest countries in the world have less technologically advanced infrastructure with an imbalanced distribution of resources. These countries lack the infrastructure to sustain their productivity and suffer from war, hunger and famine. Below is a list of such countries and their GDP per capita.
Gross Domestic Product (GDP) is the most reliable and accurate measure of the poverty level. It measures the worth of goods and services produced or provided at a given time, yearly or quarterly. GDP is a calculation of the living standards, exchange rates, inflation rates, among other things.
Top 10 poorest countries in the world
Below are the top 10 countries and GDP per capita (USD). They include:
- Burundi - $263.67
- South Sudan - $303.15
- Malawi - $399.10
- Mozambique - $455.01
- Democratic Republic of the Congo (DRC) - $456.89
- Central African Republic - $480.50
- Afghanistan - $499.44
- Madagascar - $514.85
- Sierra Leone - $518.47
- Niger - $535.83
25 poorest countries in the world in 2021
What are the poorest countries in the world? They are countries with gross domestic income (GDI) and gross domestic product (GDP) per capita lower than other countries with more affluent inhabitants. This article examines the bottom 25 countries based on these criteria.
1. Burundi - $263.67
Burundi is the poorest country in Africa and has known no peace for over a decade. The state suffers from economic decline as people are either at war or fleeing from the fray. Burundi is one of the poorest countries in Africa, with poor agricultural practices and food issues still a significant issue.
2. South Sudan - $303.15
South Sudan is a landlocked country with Nilotic speakers who are majorly Christians. Since 2010, the government has experienced instability and has known no peace. The United Nations has come to salvage the situation and bring back sanity in leadership and governance as the President, Salva Kiir and rebel leader, Riek Machar, had been at loggerheads.
3. Malawi - $399.10
Malawi has suffered from politics in trade, making it impossible for the country to trade with other countries due to the stringent policies. This governance is a continuity from the colonial systems, which is outright not relevant today.
4. Mozambique - $455.01
Mozambique is one of the poorest countries in the world. The country broke into civil war shortly after gaining independence which led to massive destruction and bloodshed. Mozambique has a huge external debt burden of about $5 billion. Despite being rich in natural resources, it has not efficiently made use of these.
5. Democratic Republic of the Congo (DRC) - $456.89
Due to a history of political instability, the country has a high level of poverty. As a result, the majority of its citizens fled to other countries in search of safety. The majority of children under the age of five are short stature for their age and are frequently malnourished.
6. Central African Republic - $480.50
The Central African Republic is a major exporter of diamonds, but this has not helped much improve the country's economy. The country also suffers from war and stringent cultural practices that have utterly hindered education. In addition, most people depend on the government for aid despite the countries' poor economic status.
7. Afghanistan - $499.44
Afghanistan is the poorest country in Asia, with a GDP per Capita of $499.44. The state has been in the limelight for war, terrorism, religious intolerance and political instability. More than 60% of the people live below the international poverty line of 1.25 dollars a day. Afghanistan is on the list of the poorest countries in the world, with about 32% of its people illiterate.
8. Madagascar - $514.85
Madagascar is the recipient of exploitation from greedy individuals dating back to the colonial rule of the French Dictator, Didier Ratsiraka. As a result, millions for development and humanitarian aid end up stolen or misappropriated. Natural resources are likewise on the verge of exhaustion, with no meaningful management to bring in at least some wealth.
9. Sierra Leone - $518.47
Sierra Leone is rich in natural resources such as gold, bauxite, titanium, rutile, and diamond. The mining sector is the primary economic activity of the country, although it does not benefit it optimally. Since 1991, the All People's Congress Party and the Sierra Leone People's Party have shaped the political system, and their confrontations have frequently resulted in civil war.
10. Niger - $535.83
Niger suffers from its landlocked status, rapid population growth, lack of infrastructure, and weak health and education systems. Ultimately, it has two main challenges: political unrest, and the Sahara Desert covers around 80% of the country.
The factors indicate that the land is unsuitable for agriculture; thus, starvation and drought are prevalent. As a result, the environment is deteriorating, with no effective agricultural solutions available.
11. Eritrea - $585.16
Eritrea is one of Africa's poorest countries due to weak governance. The administration has been oppressive and has failed to promote economic growth and productivity. The oppression has put the government in a state of external debt, which has resulted in fiscal deficits. The majority of its people are subsistence farmers in rural areas who rely solely on rain for their livelihood.
12. Chad - $639.85
Chad suffers from civil war, political instability and hunger. Only 48% of urban residents have access to clean water and only 2% to basic sanitation. Over 80% of Chad's population relies on subsistence farming and livestock raising for its livelihood. The government is trying to encourage foreign investment in its oil sector to boost its ailing economy.
13. Yemen - $645.13
Yemen is currently one of the poorest low-income countries in the world; despite having enormous oil and gas resources and a large quantity of agriculturally productive land, more than 80% of the population lives in poverty.
14. Liberia - $653.60
Because of its instability, Liberia is one of the poorest countries on the planet. In less than two decades, more than 200,000 people have died from the civil upheaval in the African state. According to the International Monetary Fund, about 4.4 million people in Liberia earn less than $1 each day.
15. Togo - $690.28
Togo's political instability has resulted in a low GDP despite having phosphate as a natural resource. In addition, the country's vulnerability to terrorism is worse due to the country's frequent coups, which have hampered economic progress.
16. Haiti - $732.07
According to Transparency International's Corruption Perception Index, Haiti is one of the most corrupt countries in the world. In addition, political unrest and the 2010 earthquake have significantly influenced the island state's economy. Despite Haiti's high economic growth rate for the region, various social programs, and reducing educational costs, international donors have been sluggish to support Haiti.
17. Sudan - $734.60
Sudan's GDP fell from 123.053 billion US dollars in 2017 to 40.852 billion US dollars in 2018. Agriculture remains Sudan's most important industry, employing 80% of the labour force and accounting for 39% of GDP. Despite their importance, most farms are still rain-fed and vulnerable to drought.
In 2014, 45 per cent of the population lived on less than US$3.20 per day, up from 43 per cent in 2009. Sudan ranks 167th in human development, according to the 2015 Human Development Index (HDI), indicating that Sudan has one of the world's lowest human development rates.
18. The Gambia - $746.33
The Gambia is one of Africa's smallest countries, bordering Senegal on the continent's heartland. Tourism, fishing, and farming are the main economic activities, although there are no favourable trade policies to promote this. Approximately 33% of its population is impoverished, illiterate, and unemployed.
The most recent presidential squabble that engulfed the Gambia was in January 2017, when Jammeh refused to admit defeat to President-elect Adama Barrow.
19. Guinea-Bissau - $766.75
Guinea Bissau has a long history of civil wars and political upheavals. The military is not a compact unit and frequently breaks into rampant fights, which escalate into conflict and coups. Since its independence, no elected president has ruled for a consecutive full term of five years.
20. Burkina Faso - $768.83
Burkina Faso is a West African country with a tropical environment and a strategic location. It is a significant exporter of cotton and gold, but the country's 18 million people are still challenging to govern. According to one of the poverty indexes, almost 40% of youngsters do not have jobs.
21. Rwanda - $823.40
Rwanda is a landlocked country in East Africa that shares borders with Tanzania, Uganda, Burundi, and the Democratic Republic of Congo. A few years ago, our nation suffered ethnic conflict, which halted progress and development.
It is, nevertheless, currently functioning and resurrecting itself. However, Rwanda's GDP per capita is $823.40 and has 45.4 per cent external debt, making it one of the world's poorest countries.
22. Tajikistan - $833.55
Tajikistan is among the poorest countries in Asia. It suffers an external state debt of 40% by 2020, up from 36.6 per cent at the end of 2019. The government committed to unifying the budget and updating its Debt Management Strategy for 2021-2023 to manage borrowing criteria and debt ceilings over the medium term to ensure public finances' health.
Tajikistan faces a significant debt crisis risk, and any additional non-concessional borrowing adds to the strain on the country's public debt.
23. Mali - $899.22
The Republic of Mali is a landlocked country that lies in the middle of the Sahara Desert. More than half of its population depends on agriculture and fishing as the primary sources of income. The Sahel, a terrorist sect, has dominated the better part of Northern Mali. As a result, Mali has slow to zero economic growth, making the Uranium and Gold-rich country one of the poorest in the world.
24. Uganda - $915.35
Due to the consequences of the COVID-19 (coronavirus) pandemic, Uganda's real GDP grew at 2.9 per cent in FY20, less than half of the 6.8 per cent recorded in FY19. Uganda's medium-term prognosis has deteriorated significantly, with risks highly skewed to the downside.
Uganda's Human Capital Index (HCI) is insufficient; a child born today in Uganda is likely to be 38 per cent as productive as she could be if she had access to complete education and good health. In addition, the economy needs to create at least 700,000 jobs each year to keep up with labour force growth.
25. Zimbabwe - $921.85
In recent years, Zimbabwe's economic situation has deteriorated. The country's food output has plummeted, and vacant land gets misused by rural people that practice subsistence farming. In addition, uncertainty over the indigenisation program (forced acquisition), the apparent absence of a free press, the potential of ditching the US dollar, and power battles within ZANU-PF have raised fears that the situation would worsen.
What is the poorest country in Europe?
Moldova with a GDP of $3600. It has endured insecurity, trade barriers, economic decline, and other problems following the dissolution of the Soviet Union in 1991. The country's move to a market economy has played a significant role in the country's economic collapse.
In addition, Moldova's lack of large-scale industrialisation, food insecurity, and social policy blunders are all factors contributing to the country's poverty.
What is the richest country in the world?
Luxembourg with a GDP of $119,719.The European country of Luxembourg has been classified and defined as the wealthiest country in the world. The findings basis are from the gross domestic product values of the nation. Luxembourg's GDP in 2017 was 107,053 USD, while in 2019 it increased to 119,719 USD.
African nations continue to dominate the list of the world's poorest countries, as they have in the past. The World Bank and the International Monetary Fund's efforts have resulted in a small improvement in GDP. However, past political instability, terrorism, poor governance, corruption and mismanagement of public resources are responsible for poverty levels.
Yen.com.gh just released an intriguing piece on Ghana's visa-free countries. Ghana is one of the African countries with a visa-free travel policy. This is due to its membership in the Economic Community of West African States (ECOWAS). This usually entitles its inhabitants to a free stay in any other ECOWAS member state for 90 days.
So, where can Ghana passport holders travel without a visa? Learn more by reading the helpful topic and comprehending what is required.
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Source: YEN.com.gh
FAQs
Who has the lowest GDP per capita in the world 2021? ›
Among the economies of the world, the highest Gross Domestic Product (GDP) per capita is $131,781.72 in Luxembourg, while the lowest is $265.18 is in Burundi, based on 2021 IMF estimates.
What are the top 10 countries with the lowest GDP per capita? ›| Country (Rank) | GDP Per Capita per year ($) |
|---|---|
| 1. Central African Republic | $700 |
| 2. Burundi | $800 |
| 3. Democratic Republic of the Congo | $800 |
| 4. Liberia | $900 |
Long definition. GDP per capita is the sum of gross value added by all resident producers in the economy plus any product taxes (less subsidies) not included in the valuation of output, divided by mid-year population. Growth is calculated from constant price GDP data in local currency.
What are the poorest countries today? ›Burundi is the world's poorest country followed by Central African Republic, DR Congo, South Sudan and Somalia as the poorest. The richest countries are Luxembourg, Singapore, Ireland, Qatar and Switzerland. Soberingly, 19 of the 20 poorest countries are all located in Africa.
What is the 2021 GDP per capita? ›GDP per capita, current dollars - Country rankings
The average for 2021 based on 175 countries was 16224.73 U.S. dollars. The highest value was in Luxembourg: 135682.8 U.S. dollars and the lowest value was in Burundi: 236.8 U.S. dollars. The indicator is available from 1960 to 2021.
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Haiti, a country situated in Caribbean Sea has the most of its population (77%) Below Poverty Line. This article tells about the 10 poorest economies of the world. In the list of ten countries no country has its total GDP greater than the total assets of the richest person of the world i.e. Bill gates.
How many countries in the world are poor? ›1.3 billion people in 107 developing countries, which account for 22% of the world's population, live in multidimensional poverty.
Which state has the lowest per capita income? ›Bihar has the lowest per Capita income in India. GSDP per capita is estimated by GSDP divided by population.
Which country has the lowest GDP per capita in Asia? ›GDP per capita, Purchasing Power Parity, 2021 - Country rankings: The average for 2021 based on 42 countries was 24589.41 U.S. dollars. The highest value was in Singapore: 106032.23 U.S. dollars and the lowest value was in Afghanistan: 1516.31 U.S. dollars. The indicator is available from 1990 to 2021.
Which countries have negative GDP? ›
Other notable economies having negative number are : Venezuela, Ukraine, Brunei Darussalam, Macao SAR, Greece and Kuwait. Generally countries having higher Per capita income has lower growth rate (depicted in the chart).
Is GDP per capita a good thing? ›As a result, higher GDP per capita is often associated with positive outcomes in a wide range of areas such as better health, more education, and even greater life satisfaction.
Why is per capita important? ›GDP per capita is an important indicator of economic performance and a useful unit to make cross-country comparisons of average living standards and economic wellbeing.
What is the difference between GDP and per capita? ›GDP per capita, purchasing power parity (PPP) (current international $) - This is the GDP divided by the midyear population, where GDP is the total value of goods and services for final use produced by resident producers in an economy, regardless of the allocation to domestic and foreign claims.
What country has the lowest GDP? ›Burundi is believed to have a GDP per capita of just 308 U.S. dollars - for reference, Luxembourg has the highest GDP per capita in the world, at almost 129,000 U.S. dollars, which is around 420 times larger than that of Burundi (U.S. GDP per capita is over 250 times higher than Burundi's).
What are the 5 poorest states? ›The ten poorest states in the US in terms of poverty rate are Mississippi, Louisiana, New Mexico, West Virginia, Arkansas, Alabama, Kentucky, Oklahoma, Georgia, and South Carolina – as well as the District of Columbia.
Why are poor countries poor? ›Researchers say that poor states are poor because their economies fail to grow fast enough. Among other causes are low levels of education, poor water quality and weak health systems.
How many of the 30 poorest countries are in Africa? ›Of the 27 countries worldwide currently ranked by World Bank as Low Income Economies, indicating they are the very poorest countries in the world, 23 are located in Africa.
Who has the lowest GDP in Africa? ›São Tomé and Príncipe is the smallest economy in Africa. None of the African economies would have gdp above $500 billion, and six would have an economy of above $100 billion. In 2021, South Africa will overtake Egypt to become the 2nd largest economy in Africa.
Is Ethiopia a rich or poor country? ›With about 117 million people (2021), Ethiopia is the second most populous nation in Africa after Nigeria, and still the fastest growing economy in the region, with 6.3% growth in FY2020/21. However, it is also one of the poorest, with a per capita gross national income of $960.
Who has the biggest GDP per capita in the world 2021? ›
In 2021, Luxembourg would have the highest GDP per capita, while South Sudan and Burundi would be the poorest economy in nominal and PPP terms,resp. The per capita of the richest economy, Luxembourg, would be 1,069% and 676% of the global average in nominal and PPP methods, respectively.
What is usa per capita 2021? ›United States of America - Gross domestic product per capita in current prices. In 2021, GDP per capita for United States of America was 70,249 US dollars.
What is the per capita of USA? ›In 2021, the gross domestic product per capita in the United States amounted to around 69,227.11 U.S. dollars. Thus, the United States is one of the countries with the largest GDP per capita worldwide.
How much debt is the US in? ›How much the government pays in interest depends on the total national debt and the various securities' interest rates. As of February 2023 it costs $307 billion to maintain the debt, which is 12% of the total federal spending. The national debt has increased every year over the past ten years.
How did America get rich? ›The integration of far-flung settlements required new technologies — steam engines, canals and railroads — setting the country on a natural course to industrial development. In sum, slavery and conquest created the foundation upon which the U.S. economy grew.
Is the US economy strong? ›The economy was resilient in 2022 – but recession fears are growing The U.S. economy grew at an annual rate of 2.9% in the final three months of last year — a surprisingly strong finish. But growth is expected to slow in 2023, and possibly even reverse.
Which US states are ranked by GDP per capita? ›GDP per capita also varied widely throughout the United States in 2021, with New York ($93,463), Massachusetts ($91,130), and Washington state ($86,265) recording the three highest GDP per capita figures in the U.S., while Mississippi ($42,411), Arkansas ($47,770), and West Virginia ($49,017) recorded the three lowest ...
Which country is No 1 in world? ›The overall ranking of Best Countries measure global performance on a variety of metrics. Switzerland is the best country in the world for 2022.
What is the US GDP per capita by year? ›U.S. gdp per capita for 2021 was $70,249, a 10.57% increase from 2020. U.S. gdp per capita for 2020 was $63,531, a 2.44% decline from 2019. U.S. gdp per capita for 2019 was $65,120, a 3.66% increase from 2018. U.S. gdp per capita for 2018 was $62,823, a 4.87% increase from 2017.
Is Spain is a poor country? ›Spain Is The 15th Richest Country In The World
A first reason why Spain is not a poor country is because it is actually one of the richest nations in the world. Spain has a GDP of 1.28 trillion USD. This makes it the 15th richest country in the world out of 195 nation states.
What is the top 20 richest country in the world? ›
- Luxemburg. Luxemburg being on the top of the list, has a GDP of 140,694 dollars per capita. ...
- Singapore. Singapore is on second on this list, with a GDP per capita of 131,425. ...
- Ireland. ...
- Qatar. ...
- Switzerland. ...
- Norway. ...
- United Arab Emirates. ...
- United States.
Iceland stands at the top of countries with the lowest poverty rates with a poverty rate of 4.9% in 2021.
Is Portugal considered a poor country? ›Under the UN's definition, Portugal is thus highly developed, with a score of 0.866 in 2021. A score between 0.8 and 1.0 refers to very high human development. Portugal scored above the world average of 0.732 in 2021. However, Portugal does score below the USA with 0.921 and the United Kingdom with 0.929.
Who are the poorest of poor? ›The 'poorest of the poor' are those who are systematically denied equal access to their family resources in rural areas.
Where do the poor live in America? ›For the first time, suburbs became home to more poor residents than cities. In 2015, 16 million poor people lived in the suburbs, outnumbering the poor population in cities by more than 3 million, small metro areas by more than 6 million, and rural areas by more than 8 million.
What is the poverty rate in the US? ›Official Poverty Measure
The official poverty rate in 2021 was 11.6 percent, with 37.9 million people in poverty. Neither the rate nor the number in poverty was significantly different from 2020 (Figure 1 and Table A-1).
Step 1: Determine the family's poverty threshold for that year. The family's 2022 poverty threshold (below) is $35,801.
Which continent is the poorest GDP? ›In the nominal list, the bottom three positions are occupied by African subregions. Australia and New Zealand would add $9,284 in 2021, followed by Northern Europe ($6,746), Northern America ($6,371), Western Europe ($4,847), and Southern Europe ($3,131).
What are the top 10 poorest states? ›The ten poorest states in the US in terms of poverty rate are Mississippi, Louisiana, New Mexico, West Virginia, Arkansas, Alabama, Kentucky, Oklahoma, Georgia, and South Carolina – as well as the District of Columbia.
What are the 5 most poorest countries? ›
Burundi is the world's poorest country followed by Central African Republic, DR Congo, South Sudan and Somalia as the poorest.
Which country economy is declining? ›In 2021, Myanmar ranked 1st among the countries with the highest GDP decrease with a decrease of approximately 17.94 percent compared to the previous year.
How rich is California compared to other countries? ›If California were a sovereign nation (2022), it would rank in terms of nominal GDP as the world's fifth largest economy, behind Germany and ahead of India. Additionally, California's Silicon Valley is home to some of the world's most valuable technology companies, including Apple, Alphabet, and Nvidia.
Why is Africa rich but poor? ›Colonialism Of Modern Era
Arguably, the world's poorest continent lags because of modern age colonialism, which severely affects its economic growth and development. In simple words, colonialism is described as an act of practicing full or partial control over another country.
North America gdp per capita for 2021 was $68,370, a 11.26% increase from 2020. North America gdp per capita for 2020 was $61,452, a 2.76% decline from 2019. North America gdp per capita for 2019 was $63,199, a 3.31% increase from 2018.