In this article, we discuss the 5 poorest countries in Europe. If you want to see more of the poorest countries in this region, check out 20 Poorest Countries in Europe.
5. Bosnia and Herzegovina
GDP per Adult in 2021: $8,453
Bosnia and Herzegovina, commonly known as Bosnia, is a nation located in Southeastern Europe within the Balkans region. The capital and largest city of the country is Sarajevo. It is classified as a developing country, with its economy predominantly influenced by the industrial and agriculture sectors. Bosnia holds memberships in various international organizations, including the United Nations, the Organization for Security and Co-operation in Europe, and the Council of Europe. The Bosnian War inflicted substantial material damages on the country’s economy, amounting to billions of dollars. As a result, Bosnia faces the dual challenge of rebuilding a war-torn nation and implementing transitional liberal market reforms to transform its priorly mixed economy. In 2021, the GDP per adult in Bosnia and Herzegovina amounted to $8,453, positioning it as one of the poorest countries in Europe.
4. Albania
GDP per Adult in 2021: $8,203
Albania, known officially as the Republic of Albania, is a nation located in Southeastern Europe within the Balkans region. Its capital and largest city is Tirana. Albania is classified as a developing country, with an upper-middle-income economy that is primarily driven by the service sector. The country is actively involved in various international organizations, including the United Nations, World Bank, UNESCO, NATO, and OIC. However, Albania remains one of the poorest countries in Europe, with GDP per adult coming in at $8,203 as of 2021.
3. Kosovo
GDP per Adult in 2021: $6,512
Kosovo, officially referred to as the Republic of Kosovo, is a nation in Southeast Europe that has achieved partial diplomatic recognition. It is a landlocked country situated in the heart of the Balkans, with Pristina serving as its capital and largest city. Kosovo is categorized as a developing country, with an upper-middle-income economy. It holds membership in international organizations such as the International Monetary Fund and the World Bank. The economy of Kosovo has faced challenges due to political upheaval, the dismissal of Kosovo employees by Serbia, and the repercussions of the Yugoslav Wars. As one of the poorest countries in Europe, Kosovo has GDP per adult of $6,512 as of 2021.
2. Ukraine
GDP per Adult in 2021: $5,779
Ukraine is an Eastern European country with its capital and largest city being Kyiv. The country operates as a unitary state with a semi-presidential system. It holds the distinction of being a founding member of the United Nations and maintains membership in organizations such as the Council of Europe, the World Trade Organization, and the OSCE. Despite its potential and resources, Ukraine continues to face significant economic challenges and remains one of the poorest countries in Europe, with GDP per adult of $5,779 as of 2021. Corruption is a prevalent issue that hinders the country’s progress and development. Furthermore, the ongoing Ukraine-Russia war is inflicting additional damage to the Ukrainian economy, thus worsening the existing challenges.
1. Moldova
GDP per Adult in 2021: $4,440
Moldova, officially known as the Republic of Moldova, is a landlocked nation situated in Eastern Europe. The capital and largest city of Moldova is Chișinău. The country holds membership in various international organizations, including the United Nations, the Council of Europe, the World Trade Organization, and the Association Trio. From 1992 to 2001, Moldova experienced a severe economic crisis, resulting in a majority of the population falling below the poverty line. Although Moldova witnessed substantial growth in the early 2000s, it remains one of the poorest countries in Europe. In 2021, Moldova’s GDP per adult stood at $4,440, with the service sector playing a dominant role in the country’s economy.
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