Which Is The Poorest Country In The World In 2024 Top 10 Poorest Countries In The World By GDP Per Capita

Therefore, divide the GDP by the total number of people in the country to get GDP per capita. Syria rarely shares official economic data, so economists must rely on their best estimates—which paint a bleak picture. About 80% of Syrians lived at or below the poverty level as of 2017, poorest country in asia a 45% increase since 2007. The main cause of the sharp rise in poverty is the Syrian Civil War, which has destroyed health care infrastructure and educational facilities. Education is one of the best ways out of poverty, and roughly 50% of Syrian children no longer attend school because of the conflict.

However, it was overtaken by the likes of China and India in the 18th century. Despite these changes, the country is currently among a group of countries that have been classified as the Next Eleven. These countries have the potential of becoming the biggest economies of the 21st century. Interestingly, data shows that periods of martial law in the past have had a positive influence on the economy. The economy depends on sectors and resources including services, industry, agriculture, copper, coal, gold, oil, natural gas, and others.

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1. In recent years, Syria has also experienced very high levels of inflation which reached its highest level of 121.29% in 2014.
2. Yet the World Bank says the DRC has the resources and potential to become one of the richest countries in Africa and a growth driver for the entire continent.
3. Myanmar averaged a 6% growth rate from 2011 to 2019, according to the World Bank.
4. Today, Malawi is grappling with an economic crisis that has led to fuel shortages, a surge in food prices, and a sharp devaluation of the currency.
5. The long-term impact of this change on Afghanistan’s economic situation has yet to be seen.

Kyrgyzstan also has few natural resources that are desirable to the rest of the world, and can only export cotton and tobacco. Additionally, many areas of Kyrgyzstan lack adequate banking and financial services, which prevents people from investing and hinders economic growth. Smaller and less powerful countries in challenging regions are among the bottom ten economies. Liberia and Chad encounter obstacles like limited resources, weak financial sectors, and unfavourable tax regimes, hindering foreign investments and growth. Even larger nations like the Democratic Republic of the Congo and Mozambique struggle with poverty due to internal conflicts, political instability, and inadequate infrastructure, hampering their economic progress. Liberia’s enduring poverty stems from violent conflicts, including civil wars and outbreaks like Ebola, leading to unstable infrastructure and limited services.

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1. In addition, China has had an inflation rate of around 0.3% in 2023 with the economy heading towards deflation.
2. As we mentioned in our article about the 20 countries with the highest tariffs, the traffic through the Red Sea has declined by over 40% since the attacks from Houthis, disrupting global supply chains.
3. The country is already the world’s largest producer of cobalt and Africa’s leading source of copper—essentials in the production of electric vehicles.
4. Liberia’s enduring poverty stems from violent conflicts, including civil wars and outbreaks like Ebola, leading to unstable infrastructure and limited services.
5. Nepal’s poverty stems from political instability and corruption, a lack of industry, and its dependence on agriculture.
6. This mountainous nation is burdened by ongoing armed conflict, government corruption, and prolific income inequality.
7. Additionally, many areas of Kyrgyzstan lack adequate banking and financial services, which prevents people from investing and hinders economic growth.

Despite having the fifth-largest economy globally in terms of GDP, about 21% of India’s population (269 million people) lives below the poverty line. Causes for poverty in India include illiteracy, gender discrimination, unequal distribution of wealth, and the country’s ever-increasing population. Pakistan is suffering from political and economic instability and relies a lot on IMF loans. With a GDP per capita of $6,961, Pakistan ranks among the poorest countries in Asia by GDP per capita.

Current International Dollars: 1882  View Liberia’s GDP & Economic Data

With 80% of its landlocked territory covered by the Sahara Desert and a rapidly growing population dependent upon small-scale agriculture, Niger is under threat from desertification. Recurrent clashes of the army with the Islamic State (ISIS) affiliate Boko Haram have displaced thousands. One of Africa’s smallest nations, Malawi’s economy—largely dependent upon rain-fed crops—remains vulnerable to weather-related shocks.

Yet, while his successful election has been seen as an important step towards national reconstruction, large swaths of the country remain controlled by anti-government and militia groups. Despite problems and setbacks, in recent years growth has moderately picked up, driven by the timber industry, the revival of the agricultural sector, and the partially resumed sale of diamonds. Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity. Tajikistan has a real GDP growth rate of around 5% in 2024, as per the IMF.

Underprivileged households worldwide suffered the severest social and economic consequences of the coronavirus pandemic. In the world’s poorest nations, where high levels of informal employment are also prevalent,  there were no social safety nets or temporary loans to keep businesses open and workers employed. The World Bank has forecasted that in low and middle-income countries, the current generation of students could lose up to 10% of their future average annual income.

Tiny landlocked Burundi lacks natural resources and has been scarred by a civil war lasting from 1993 to 2005, whose aftermath is still a contributing factor to its ranking of the second-poorest country in the world. With about 80% of Burundi’s roughly 13 million citizens relying on subsistence agriculture, food insecurity is almost twice as high as the average for sub-Saharan African countries. Furthermore, access to water and sanitation remains very low and less than 5% of the population has electricity.

Top 10 poorest countries in Asia (World Bank, by GNI per capita, PPP

With approximately 80 percent of the population reliant on subsistence agriculture, food insecurity is remarkably high compared to other sub-Saharan African countries. The Democratic Republic of Congo, or the DRC, the biggest country in Sub-Saharan Africa, faces profound economic challenges despite its wealth in natural resources like cobalt and copper. Most of the population lives in poverty, with around 62 percent of Congolese living on less than $2.15 a day. Malnutrition, limited access to education and healthcare, and high fertility rates further exacerbate the country’s poverty and development constraints. Ranked by GDP per capita (current US$), Kyrgyzstan is the fifth-poorest country in Asia. The largest causes of poverty in Kyrgyzstan are its dependence on agriculture and the gaps in knowledge and resources among its people.

South Asia is the world’s fastest-growing region, and is even faster than China. The three emerging economic heavyweights in this region are India, Pakistan, and Bangladesh. These three, along with the other countries in South Asia, have unique development challenges but are addressing them through good fiscal and monetary policies and service delivery.

“In Q4, we delivered healthy top-line and bottom-line growth and made solid progress on operations, finishing off a productive 2023. In the past year, we stayed focused on constantly improving user experience, lowering costs, and increasing efficiency amidst evolving opportunities and challenges. Guided by our business philosophy, we carried out a set of proactive moves to drive more sustainable growth for the long term, mainly in the areas of user experience improvement, indiscernible, and platform ecosystem strategy. Despite some short-term impact in 2023, our strategic focus has successfully steered key operating metrics in a positive direction. In this article, we will be taking a look at the 25 poorest countries in Asia by GDP per capita.