No doubt, the earth is filled with the thriving countries and plenty of them are struggling to strengthen their economy. As the economy of a country measured by the Gross Domestic Products which is the sum of all monetary values of all goods in a given time period. If the GDP of the country drops down to an extreme level, these are the poorest countries in the world.
The GDP per capita is irrespective of the individual earnings, thus we have generated a list of 10 Poorest Countries in the world that have drastically lower GDP per Capita.
Madagascar – $1,505 per capita per year
Madagascar not ruined economically, politically. The country has a huge agricultural potential to gross handsome capita. It has performed well with their agriculture. However, they have to put limitations on their trade barrier to protect their agricultural base. Over the few years of low political reforms, the economic instability negatively affected. The corruption and the lack of funds have hindered the growth of the country.
Eritrea – $1,410 per capita per year
With the $1,410 capita per year, Eritrea has dragged in the list of poorest countries. Although, the country is not so famous but counted among the underdeveloped countries. No doubt, the judiciary, and politics are the important authorities of the country. The week judicial system and corruption have affected the Eritrea economy brutally. The public sectors of the country are still giving a major source of employment while the private sectors are in critical forms.
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Guinea – $1,265 per capita per year
We are staying in the African region for the eighth rank, as Guinea has the only $1,265 capita per year. The nation located in the West African region and bordered by Mali, Sierra Leone, and Senegal. Here is also the corruption has taken all the resources away from the poorest nation. When to look at natural resources, Guinea is rich in minerals, iron, gold, and even diamonds but they aren’t able to set up the mining industry.
Mozambique – $1,215 per capita per year
Unfortunately, Mozambique is struggling with extreme level of poverty. The country is located on the southwest coast of Africa and surrounded by borders of Malawi, Zimbabwe and South Africa. Mozambique has made many reforms to strategically improve its current economy but the huge debt is hindering the reforms.
Malawi – $1,134 per capita per year
Next on our list of 10 poorest countries followed down with Malawi on the sixth rank. Malawi is formerly known as Nyasaland. The total area of the country is 118,000 km2 and the population is the around 18,091,575. It’s a small country which is mostly crippled by massive government corruption.
Niger – $1,107 per capita per year
The country in Western Africa named after the River, “Niger River”. Almost 80% of the area lies in Sahara Dessert and the rest one is for the Islamic populations. Its population is around 21 million. Despite having natural oil resources, Niger is facing internal problems alongside with corruption.
Liberia – $855 per capita per year
Liberia sometimes considered as the failed state and sometimes the underdeveloped country. Formerly, the country has to face a nice economy for a variety of reasons including the outbreak of Ebola. But the country goes down in ranking for the rising of the militant group. It’s the oldest African Republic and known for its long-running war.
Burundi – $814 per capita per year
Well, Burundi is flaunting at 3rd rank on our list of poorest countries in the world. Over 80% population belongs to the agricultural profession. Unfortunately, the agriculture which is providing the jobs to massive population is unpredictable. Widespread corruption has also played a vital role in destroying the economy of the country.
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The Democratic Republic of the Congo – $773 per capita per year
In our list of poorest countries in the world, two poorest countries are adjacent to each other with their location. The Democratic Republic of the Congo that is severely damaged by Civil Wars. Another big reason behind the poverty of the Democratic Republic of Congo is its political instability. Since the establishment of the country, DRC never gains political stability. However, the high inflation rates and the large debt make it one of the poorest country in the world.
Central African Republic – $652 per capita per year
The central African Republic has a total land area of 620,000 km2 and covering the population of almost 4.6 million. The central African Republic is continuously fighting for over control and resources. The corrupt government failed to control the inflation rates and to manage the economy of the country. It has drowned to the drastically low level as the capita per year is $652 only.