World’s Top 10 Poorest Countries
Studying the richest countries of the globe may be glamorous and aspirational, however, it’s also important to be aware of those at the opposite end of the wealth distribution. Assisting those countries in improving their financial positions is one of the key methods used by organizations like the UN to raise the general standard of living for the citizens of poorer countries.
A country’s national debt, educational system, political stability, and natural resources are only a few of the many factors that influence prosperity. Although not all, the majority of the world’s poorest nations are also among the least developed, commonly referred to as third-world countries or, less generously, as undeveloped countries.
In the 4-tiered World Bank rating system, the poorest nations in the world are categorized as low-income economies. The basis for this ranking is the gross national income (GNI) per capita for each nation, which is the total national income divided by the population.
Gross Domestic Product (GDP) per capita and GNI are extremely similar. Both measures calculate the total dollar value of all products made in a nation, while GNI additionally incorporates revenue from foreign sources (such as foreign investments or real estate holdings). Because of this, GNI is considered a slightly more accurate indicator of a country’s economic health.
The world’s wealth and resources are enough to ensure that everyone has access to a minimal standard of living. Burundi, South Sudan, and the Central African Republic are the three most poorest countries in the world, and their citizens continue to live in severe poverty.
Other obvious candidates for the unfavorable distinction of being the poorest of the poor, such as Afghanistan, Syria, and Lebanon, have experienced years of military, social, and political unrest; this makes any judgment problematic due to the lack of reliable economic statistics. But how do we compare the wealth and poverty of other nations?
While GDP according to capita is sometimes seemed because the benchmark indicator, the buying electricity parity (PPP), which debts for versions in residing charges and inflation fees, may offer an extra correct picture.
Here, using the same criteria, explore our list of the top 10 poorest countries in the world
- Democratic Republic of the Congo: per capita income 2020- $550
- Niger: per capita income 2020- $540
- Liberia: per capita income 2020- $530
- Central African Republic: per capita income 2020- $510
- Afghanistan: per capita income 2020- $500
- Sierra Leone: per capita income 2020- $490
- Madagascar: per capita income 2020- $480
- Mozambique: per capita income 2020- $460
- Somalia: per capita income 2020- $310
- Burundi: per capita income 2020- $270
10. Democratic Republic of the Congo
A $550 per capita income by 2020 Since gaining independence from Belgium in 1960, the Congo has undergone decades of harsh rule, political unrest, and unrelenting conflict. The country took a new direction after Félix Antoine Tshisekedi Tshilombo, the son of prominent opposition leader Etienne Tshisekedi, was elected president in 2019. He faces difficult tasks ahead of him.
The “Great African War,” which is claimed to have resulted in up to 6 million deaths, either directly from conflict or from illness and malnutrition, is said to have been ended by the controversial Joseph Kabila, who had been president since succeeding his assassinated father in 2001. Despite this, he made little progress in improving the lives of war survivors. On the other hand, a recent financial record breach shows how, while in office, he used a private bank to siphon off close to $138 million in taxpayer money. Of the 90 million people who call this country home, around 75 percent still live on less than $2 each day.
09. Niger: $540 per capita in 2020
Niger is the world’s poorest country according to the UN’s human development report, with a GNI per capita of $540, a life expectancy of 60.4 years, and a mean 2 years of education (as opposed to an expected 5.4). The country’s 21.5 million residents, or 44.5% of the population, live in extreme poverty, according to World Bank data from 2014.
Concern, an NGO, has been aiding communities in Niger for 16 years as they deal with a variety of development challenges that are made worse by terrorist invasions, migration, climate change, and uncontrollable population increase. High levels of food insecurity, persistent malaria, and restricted access to utilities like water are all signs of poverty in Niger.
08. Liberia: $530 per capita in 2020
Liberia, the oldest country in Africa, was torn apart by civil wars from 1989 to 2003. Despite the fact that peace now outnumbers conflict, the GNI per capita is only $530, and the average life expectancy is 63. Liberia was severely impacted by the West African Ebola pandemic of 2014–16, which sickened 10,675 Liberians and killed 4,809 people. The World Bank’s most recent survey of the country, completed in 2016, estimated that 51% of the population was living below the poverty line, having a long-lasting effect on survivors’ ability to support themselves. Although 10 years of education are advised, the typical Liberian only completes 4.7 years of formal education.
07. Central African Republic: $510 per person in 2020
The Central African Republic’s weak central government allows armed rebel groups to operate there and have large swaths of the country under their control. Additionally, Western nations are outraged by the government’s use of Russian mercenaries to maintain order. For our forecast period of 2026, Sub-Saharan Africa’s GDP growth is projected to be significantly below average due to persistent war. The creation of a new constitution, which is anticipated to increase the president’s power, and the adoption of bitcoin, which was recognized as a legal tender earlier this year, will need to be closely monitored in the future.
06. Afghanistan: $500 by 2020 for per capita income
in Afghanistan Despite having confirmed untapped mineral reserves worth over a trillion dollars, it is currently one of the least developed countries in the world. Nearly 50% of its population lives in poverty, while more than 23% of its workforce is unemployed. The fundamental reason for all of this has been the prolonged fighting in Afghanistan, which has had a negative influence on everyone’s health as well as deterring significant international investment and aid supplies. Afghanistan has traditionally sought foreign capital to boost its economy. In order to further hurt Afghanistan’s economy, the US Biden administration has prohibited assets worth $9.5 billion from entering the nation.
05. Sierra Leone: $490 per person in 2020
The Ebola virus devastated the economy in the middle of the 2010s. having an impact on trade and jobs following a protracted civil war that ended in 2002. The crisis in Ukraine has increased import prices this year, which has impacted consumers’ purchasing power and led to violent anti-government demonstrations in August.
A small export base, primarily made up of base metals, timber, diamonds, and cocoa, inadequate governance, and constrained fiscal space all restrain the economy. Sierra Leone is expected to become the third-poorest country in the world in 2026 with growth that is only slightly expected to be above the norm for Sub-Saharan Africa in the upcoming years. A significant event to watch out for in 2023 will be the election results.
04. Madagascar: $480 per person in 2020
Madagascar, the world’s fourth-largest island, sits 400 kilometers off the coast of East Africa. Although the nation is well known for its beautiful nature, its strong tourism industry has not been able to aid it in escaping poverty. Since the majority of people still make their living from agriculture, natural calamities have a particularly negative impact on the economy. Since achieving independence from France in 1960, Madagascar has seen periods of political turmoil, violent takeovers, and difficult elections.
But in recent years, Madagascar finally appeared to be trending upward. Poverty reduction and infrastructure development were top priorities for President Andry Rajoelina and his predecessor (and rival) HeryRajaonarimampianina. Growth was slowly accelerating, structural improvements were being undertaken, and international investors were returning.
03. Mozambique: $460 per capita in 2020
The former Portuguese territory has an abundant amount of water and agricultural land, as well as an abundance of mineral and energy deposits. Mozambique is strategically positioned as four of its six borders are landlocked and depend on it as a route for international trade, and during the past ten years, it has regularly had average GDP growth rates of above 7%.
Despite this, it is still one of the world’s ten poorest countries, with a sizeable section of the population living in extreme poverty. A 15-year civil war came to an end in 1992, but severe weather, corruption, and political unrest continued. As a result of strikes by Islamic rebel groups that have targeted the nation’s gas-rich north since 2017, which have resulted in up to 4,000 deaths and 800,000 more displaced people, the situation has gotten worse.
02. Somalia: $310 per capita in 2020
Somalians are losing hope due to three decades of internal conflict and violence that have caused hundreds of thousands of people to flee their homes, as well as frequent droughts and floods that are followed by famine and disease, a lack of access to healthcare, and extremely high unemployment rates, particularly among young people.
It never seems to be a good day for this nation of 16 million people in the Horn of Africa. The coronavirus pandemic, a locust infestation unheard of in modern times, and severe flooding caused the economy to slide in 2020, disrupting the steady GDP growth seen in the latter half of the last decade. Then, while a shaky reform was taking hold, a boycott of Ukraine’s wheat exports further depressed the country and filled local hospitals with severely malnourished children.
01. Burundi: $270 per capita in 2020
Burundi, a small, landlocked nation that has experienced civil war and Hutu-Tutsi ethnic conflict, holds the terrible distinction of being the world’s poorest country. In this country of more than 12 million people, food shortage is an important issue because 90% of the population depends on agriculture for subsistence (and most of them live in extreme poverty).
Almost twice as many people experience food insecurity compared to a typical country in sub-Saharan Africa. Water and sanitation services are still in poor supply, and only 5% of the population has access to electricity. There is no doubt that the epidemic and the conflict in Ukraine have made all these problems worse.
15 years ago, despite being declared a civil war, how did it happen? Extreme poverty is generally caused by common things: lack of infrastructure, widespread corruption, and security difficulties. A charismatic former Hutu rebel, Pierre Narkunziza, who became president, initially succeeded in uniting the country behind him and rebuilding the economy.
However, in 2015, his announcement that he would run for a third term—which the opposition opposed was unconstitutional—rekindled the previous controversy. There have been hundreds of deaths, thousands of internal and foreign displacements, a failed coup attempt, and other incidents related to the conflict.
Which are the top ten least developed nations in the world as of 2022?
Democratic Republic of the Congo: $550 per person, per year, by 2020
Niger: $540 per capita income by 2020
Liberia: $530 per capita in 2020
Central African Republic: $510 per person in 2020
Afghanistan’s GDP per capita will be $500 by 2020.
Sierra Leone: $490 per capita in 2020
Madagascar: $480 per capita in 2020
Mozambique: $460 per capita in 2020
Somalia: $310 per capita in 2020
Burundi: $270 per capita in 2020
Which nation is the richest in the world?
According to the World Bank Group, the United States will be the richest country in the world by 2021. The GDP of the United States is $22.996 trillion and it is $69,287 per person. Investopedia states that the United States represents 23.93% of the global economy.
- Inspiring Story of WhatsApp Co-Founder Jan Koum
- 5 Signs your Hands give when your liver is in Trouble
- Top 10 most-watched web series in the world