Poverty is one of the major issues plaguing the world. There are some poorest countries in the world where majority of the people are unemployed and are unable to meet their basic human needs. The condition of these countries can improve significantly, if the governments in these countries along with global institutions bring in policy measures to improve the lives of millions of people living in poverty.
Gross Domestic Product (PPP) per capita is considered by economists, as one of the best parameters to analyze the economic development of the countries. Here we have mentioned the ten poorest countries in the world, along with their GDP (PPP) per capita in International Dollars:
- Central African Republic –$681
One of the richest country in terms of natural resources, Central African Republic is also the poorest in terms of GDP (PPP) per capita. Conflict and corruption are the primary cause of poor condition in the country.
- Democratic Republic of Congo -$785
The DRC has abundant natural resources, yet it has very low GDP (PPP) per capita, and has faced political unrest in recent years. Despite the economic recovery in the past, the country faces uncertainty regarding the mining code and the upcoming presidential elections.
- Burundi – $808
With a history of violence and immense troubles, Burundi has widespread poverty. Several people living here are below the poverty line. Inadequate domestic food production has led to malnourishment amid the citizens.
- Liberia – $867
The county’s civil war ended in 2003, but the nation is still recovering from the damage. Corruption and government conflict are some of the reasons behind the nation’s slow economic growth.
- Niger – $1,153
Niger is one of the world’s least developed nations. Having a population around 22 million, Niger ranks quite low on Human Development Index of UN Development Program. Corruption and other internal problems have created stress on the economy.
- Malawi – $1,172
Malawi is known for the peace and harmony, yet poor governance and lack of export commodities are few reasons behind the lack of development and high poverty in the country.
- Mozambique – $1,266
The country has made progress in terms of reducing poverty, however, 50% of population is still facing problems. Most of these people are located in rural areas and the regions like Zambezia, Sofala, Manica, and Gaza have witnessed an increase in poverty in the 21st century.
- Eritrea – $1,434
Continued influence of the Cold War and several other political conflicts, left Eritrea with few resources. The country was established only in 1993 and it has been trying to make ends meet by itself, without much investment from the international community.
- South Sudan – $1,503
The isolated location of South Sudan is one of the reasons why humanitarian professionals haven’t been able to provide a great deal of assistance. The Sudanese government which ruled over South Sudan in the past was unable, or unwilling, to build better roads and infrastructure. The country was engulfed by a brutal civil war from 1995 to 2005 and is one of the newest countries to become independent.
- Madagascar – $1,554
Geographical isolation and lack of a good educational system, are part of why Madagascar is still considered a poor country.
(sourced by IMF-2017)