15 Fastest Declining Economies in the World in 2024

4. Sudan

Average GDP Growth: -5.10%

Sudan’s economy had already been stagnant from years of sanctions and deep corruption but if now faces a dire collapse. Since fighting erupted on April 15, critical infrastructure in Khartoum, the economic hub, has been devastated and has shut factories, banks, and markets. The Sudanese pound has depreciated by 600% against the dollar since 2018 and has thus, affected inflation and caused severe shortages of basic goods.