5 Worst Performing Economies in 2023

In this article, we are going to list the 5 worst performing economies in 2023. For a detailed coverage of this topic please take a look at 20 Worst Performing Economies in 2023.

5. Chile

Real GDP Growth Rate of the Country (2023): -1%

Chile’s economy is facing a downward trajectory with its economic adjustment expected to continue slow growth in 2023. The government’s contractionary policies have caused a drop in consumption, weakened labor markets, and depleted household liquidity. Chile has a GDP of $358.56 billion and ranks fifth on our list of the worst performing economies in 2023.

4. Estonia

Real GDP Growth Rate of the Country (2023): -1.2%

Estonia is one of the worst performing economies as the country’s weak private consumption amid high inflation continues to harm the economy. Estonia has a GDP of $41.55 billion, supported by limited exports and fragile growth in trade partner economies.

3. Equatorial Guinea 

Real GDP Growth Rate of the Country (2023): -1.8%

An upper middle-income country, Equatorial Guinea faced a recession for almost seven years. The country has a GDP of $15.1 billion and ranks third on our list of the worst economies in 2023.

2. Ukraine

Real GDP Growth Rate of the Country (2023): -3%

Ukraine has been trapped in a massive war against Russia which has far-reaching economic and human impacts. The country has been relying on foreign aid to survive a struggling economy during the war. Ukraine has a GDP of $148.71 billion and ranks among the worst performing economies in 2023.

1. Sri Lanka 

Real GDP Growth Rate of the Country (2023): -3%

Sri Lanka is going through the worst crises in its history as the country announced bankruptcy in July 2022. The country’s economy continues to shrink with indefinite economic problems on its way. Sri Lanka ranks first on our list of the worst economies in 2023. 

You can also check out 11 Best Recession Dividend Stocks to Buy and 10 Best Gold Stocks Under $50.