Would you like to know more about the poorest countries in the world? Most readers probably aren’t even aware of which nations actually make up this list, while others might already be making a mental note of the possible candidates. Of course, just about anyone will know which countries definitely don’t have a spot on this list, and chances are you’re not from such a country.
Certainly, there is no shame in being one of the poorest countries in the world. In fact, it is quite astonishing to learn that few take any interest in these places, never mind actually knowing anything about their economic situation, or why they haven’t developed to the same extent as other countries of the world. Hence, if we can raise even a little awareness to the general population by presenting a compact list of the poorest nations on the planet, we consider it a good endeavor. After all, how can anyone be concerned about the issues of poverty, if they haven’t the slightest idea as to which regions suffer the most?
If you have already read our list on the 10 underdeveloped countries in the World, then be sure to continue reading, since the ten poorest countries in the world certainly deserve some attention too, if not more so. Who knows? Maybe you might even become interested in one of these places and want to contribute in one way or another. Of course, we have already mentioned that we do not expect to see any surprises, and the African continent naturally contributes the most nations to the list. Poverty has been a life-threatening condition for some of these countries for decades, making improvements to their economic situation increasingly important.
In order to compile the following list on the ten poorest countries in the world, we used the GDP (Gross Domestic Product) per capita as our main indicator, using information provided by the International Monetary Fund (IMF). Now let’s see which nations make up this unfortunate ranking.
10. Afghanistan
The war-ridden nation of Afghanistan is the first item on our list and to the surprise of many, is actually better off than the rest of the lot. After all, the war that began in 2001 has left a deep scar and dealt heavy damage to the local economy, making recovery very complicated.
The list of the poorest countries in the world continues on the next page with an exotic land that has yet to fully tap into its abundant resources.
9. Madagascar
The exotic island of Madagascar might be rich in biodiversity, yet its economy does not seem to benefit from this abundance of nature. Despite its growth potential in the tourism industry, exporting natural resources has been this country’s top priority, thus tying around 70% of the workforce to agriculture.
8. Malawi
This landlocked nation located in south central Africa is considered to be amongst the least developed countries in the world. Financial assistance from international organizations such as the IMF and the World Bank, are the main reason Malawi’s economy does not collapse altogether.
7. Niger
Unlike its neighbor Nigeria, the largest economy in Africa, with abundant rivers and access to the Atlantic, Niger suffers from regular droughts, which puts a huge strain on agriculture. Even with the largest uranium ore deposits in the world, this nation is having a very hard time developing an economy based on more than subsistence farming.
6. Central African Republic
Relying on subsistence farming and limited exports makes constructing a strong economy very difficult. When financial planning and economic strategies are nowhere to be found, countries like the Central African Republic fail to exploit resources properly. This nation’s GDP per capita gives evidence of this fact.
5. Eritrea
The State of Eritrea is located in the Horn of Africa, with a coastline along the Red Sea, which leaves it in close proximity of Saudi Arabia. Eritrea’s economy has actually been growing at a constant pace over the past few years, and although it has quite some ground to cover, it could eventually distance itself altogether.
4. Liberia
Liberia was once an American colony, yet its fate was quite different from that of its former ruler. Mining in this nation was once a relatively fruitful activity, yet civil wars have devastated the country, and external debt has crippled the already weak economy.
3. Burundi
Yet another landlocked country appears on our list, in what seems to be a clear pattern for the African economies. Overpopulation, erosion, and civil war only add to the already harsh living conditions in this impoverished nation.
2. Zimbabwe
Following a war with the Democratic Republic of Congo, the economy of Zimbabwe simply could not take any more strain, and collapsed. Almost 14 years later, the economic ruin provoked by hyperinflation and massive unemployment has yet to dissipate.
1. Democratic Republic of Congo
It is quite shocking to note that the poorest country in the world, actually has huge wealth in terms of natural resources. Raw mineral wealth is estimated at around $24 trillion, yet the political conditions in the Democratic Republic of Congo have not allowed this potentially robust economy to flourish.
