In this article, we discuss the 10 least developed countries in the world. If you want to see more of the fastest growing economies in Africa, go directly to the 30 least developed countries in the world.
10. Guinea-Bissau
Insider Monkey Development Score: 179.00
Companies in the country of Guinea-Bissau comprise both private and state-owned corporations. One of the poorest countries in the world, fishing and agriculture are dominant in the country’s economy which also explains why there is a high level of poverty in the country.
9. Burundi
Insider Monkey Development Score: 181.67
Burundi is a landlocked country and over 70% of the labor force is employed in the agriculture sector. While sufficient in food production, Burundi’s development has been negatively impacted by several factors including overpopulation, soil erosion and civil unrest.
8. Guinea
Insider Monkey Development Score: 181.67
Rural and agricultural activities make up a large portion of Guinea’s economy, with the country home to large deposits of various minerals including a quarter of the global reserves of bauxite, and nearly 2 billion tons of high-grade iron ore. In addition, the country also has major gold and diamond deposits.
7. Niger
Insider Monkey Development Score: 182.33
While it is a major exporter, Niger’s economy is still largely based on agriculture, though it is also said to contain some of the biggest uranium deposits in the world. However, high levels of drought, desertification and high population growth rate have all had a negative impact on the country’s economy, while the backlash against nuclear power has led to a drop in uranium demand as well.
6. Mali
Insider Monkey Development Score: 183.00
Most of the least developed countries in the world have an economy heavily dependent on agriculture and Mali is no exception, which is also one of the most indebted countries in the world.
5. Burkina Faso
Insider Monkey Development Score: 183.00
More than 80% of Burkina Faso’s population relies on the country’s agricultural sector with its gross national income per capita being just $966.
4. Mozambique
Insider Monkey Development Score: 183.67
While it is one of the least developed countries in the world, Mozambique does have several major industries including coal, petroleum products, aluminum, cement and chemicals among others.
3. Central African Republic
Insider Monkey Development Score: 186.00
More than 50% of Central African Republic’s economy comes through its agricultural sector, while gold and diamond mining are major industries in the countries too.
2. Chad
Insider Monkey Development Score: 188.33
Chad being landlocked has reduced its economic opportunities while drought and a lack of infrastructure have not helped matters. Agriculture is by far the biggest sector contributing to Chad’s economy.
1. Somalia
Insider Monkey Development Score: 190.33
Topping the list of the 30 least developed countries in the world is Somalia, with civil strife being one of the major reasons why the country is so far behind on the development index.
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