If you’re looking for the Top 10 Poorest Countries in The World, then you are at the right place. In this article, we will discuss the Top 10 Poorest Countries in The World.
In this world, there are rich countries and poor countries. In the list released by the International Monetary Fund, the countries are calculated according to the per capita gross domestic product (GDP) and take into account the average purchasing power of the population. This means that the results of the comparison are as if all countries were converted to the same currency and cost the same products and services. This article takes stock of a list of the top 10 poorest countries in the world.
Top 10 Poorest Countries in The World
10. Republic of Chad
The Republic of Chad is a typical desert landlocked country, with more than 2/3 of its territory belonging to the Sahara Desert or semi-desert. Although they are all desert countries, the Republic of Chad does not have rich oil resources like Saudi Arabia, the United Arab Emirates, and other countries. Chad is an agricultural and animal husbandry country with a very backward economy and poor people.
Not only is it one of the least developed countries in the world, but it is also rated as the poorest country in Africa by the United Nations. According to the data, as of April 2021, the per capita GDP of the Republic of Chad is about 1621 international dollars.
Liberia is very rich in resources, diamonds, gold, oil, and rubber can be seen everywhere. It stands to reason that Liberia has a superior geographical location and rich resources, so it should not be linked to poverty and backwardness, but in fact, Liberia is indeed very backward and has been rated by the United Nations as one of the poorest countries in the world.
Liberia is an agricultural country, with an agricultural population accounting for 72% of the total population. The country has 3.8 million hectares of arable land, less than 13% of which has been developed. It cannot be self-sufficient in food. According to data released by the International Monetary Fund, as of April 2021, Liberia’s per capita GDP is approximately 1602 international dollars.
Niger is one of the least developed countries in the world, and agriculture is the most basic economic production sector. Since 2013, the political situation in Niger has gradually stabilized. The government is committed to economic development and actively implements policies to attract investment. Restricted by factors such as harsh natural conditions, small market capacity, and large initial capital investment, the country faces certain difficulties in developing its economy and attracting foreign investment.
Niger’s infrastructure is backward, its industrial and agricultural foundation is weak, and it relies heavily on foreign investment. It is still in the take-off stage of economic development, and it also means that it has great development potential and opportunities in a wide range of fields. As of April 2021, Niger’s per capita GDP is about 1,320 international dollars.
In Mozambique, which is very rich in natural resources, the chemical, aluminum, petroleum, beverage, and food manufacturing industries in the industrial sector have grown strongly. The Mozambican government has vigorously adjusted the economic structure, improved the investment environment, introduced foreign capital, increased investment in agriculture and rural areas, and accelerated Infrastructure construction, advocating revenue increase and expenditure reduction.
The government has also carried out reforms to the customs, the tariffs have been greatly reduced, and customs management has improved. However, inequality and income are very large, and this increase is not reflected in the country’s per capita GDP or Human Development Index. Mozambique’s per capita GDP is only 1,293 international dollars.
6. Democratic Republic of The Congo
The Democratic Republic of the Congo is one of the world’s least-developed countries announced to the United Nations. The economy is dominated by agriculture and mining, and the industry is underdeveloped. It is the second-largest country in Africa by area. After independence from Belgium in 1960, the country fell into years of economic depression due to political assassinations, military coups, and civil wars.
Decades of political instability, corruption, and a lack of necessary infrastructure have rendered its natural wealth worthless, with a per capita GDP of only 1,132 international dollars as of April 2021. The Democratic Republic of the Congo is the second largest diamond producer in the world.
5. Central African Republic
The Central African Republic is located in the center of the African continent. It is the only way for the north-south and east-west traffic. It is sparsely populated, with an average of only 4.7 people per square kilometer. Central Africa is a multi-ethnic country with complex religions and serious conflicts. Coupled with the impact of the war, the economy is difficult to develop, and it is one of the world’s least-developed countries announced by the United Nations.
The economy of Africa is dominated by agriculture, with a weak industrial foundation, and more than 80% of industrial products are imported. From the perspective of per capita GDP, relevant data show that as of April 2021, the per capita GDP of the Central African Republic is only 1013 international dollars.
Malawi, a small country in southeastern Africa, is one of the world’s least developed countries and relies heavily on international aid. Malawi’s economy is largely based on agriculture, with the majority of the population living in rural areas. As of April 2021, its GDP is 1005 international dollars, making it the poorest country in the world.
Malawi’s main economic crops include tobacco, coffee, tea, cotton, and sugar cane. Among them, tobacco is its most important economic crop, and tobacco-related industries absorb 70% of the country’s labor force employment. Malawi is becoming more and more dependent on tobacco due to falling tobacco prices in the international market.
Somalia is one of the least developed countries in the world. As of April 2021, Somalia’s per capita GDP is only 941 international dollars. The economy is dominated by animal husbandry and its industrial base is weak. In the early 1970s, due to the excessive nationalization policy and natural disasters, the economy suffered serious difficulties.
In the 1980s, with the support of the World Bank and the International Monetary Fund, economic policies were adjusted, and the economy once improved. After 1991, due to years of civil strife, industrial and agricultural production and infrastructure were severely damaged, and the economy collapsed. The situation in some local government areas is stable and the economy has improved
2. South Sudan
South Sudan, is a landlocked country in East Africa. It is one of the world’s least-developed countries declared to the United Nations. Roads, water and electricity, medical and health care, education and other infrastructure and social services are seriously lacking, and commodities are basically imported and the prices are high.
Since 2005, the international community has provided a lot of assistance to South Korea in terms of infrastructure construction and public services. In addition to international aid, the main source of revenue for the South Sudanese government is the oil industry. As of April 2021, South Sudan’s per capita GDP is 825 international dollars. There is almost no large-scale industrial production in South Sudan, and industrial products and daily necessities are completely dependent on imports
Burundi is one of the least developed countries in the world. It is an agricultural and animal husbandry country, and its main pillar industries are coffee and tea. The difficulty in developing its economy lies in its small size, large population, poor resources, and no seaport. 70% of the country’s income comes from agriculture, and the main export products are coffee, tea, cotton, leather, etc.
However, due to the backward agricultural infrastructure, the ability to resist natural disasters is low. Industrial raw materials, machinery and equipment, and consumer goods are all dependent on imports. According to data released by the International Monetary Fund, as of April 2021, Burundi’s per capita GDP is about 772 international dollars, which is said to be one of the weakest economies in the world.
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