Struggling Economies: The 15 Poorest Countries in the World

Poverty is more pronounced in some nations than others because of economic disparities. Throughout this list, you’ll get a glimpse into the struggles of the 15 poorest countries in the world, all based on GDP per capita.

1. Haiti – The Caribbean’s Challenge

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Despite having a rich cultural heritage, Haiti struggles with poverty. The economy of this nation of over 12 million people is underdeveloped, with a GDP per capita of $3,190. Political instability and natural disasters contribute to the economic issues.

2. Rwanda – Rising from the Ashes

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An essential part of Rwanda’s narrative concerns resilience and rebuilding. Previously devastated by genocide, this East African nation has begun to recover economically. Despite having a GDP per capita of $3,140, Rwanda still struggles with poverty.

3. Zimbabwe – In the Shadow of Economic Decline

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Its rich resources and mismanagement of the economy make Zimbabwe a country of contradictions. With 16.16 million people, its GDP per capita of $2,750 reflects a nation overcoming hyperinflation and political turmoil.

4. Burkina Faso – The West African Struggle

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In West Africa, Burkina Faso’s 23.41 million citizens face poverty, with a GDP per capita of $2,680. This country has limited natural resources, and security concerns are escalating despite its growing population.

5. Mali – Amidst Sahelian Challenges

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The economic situation of Mali is similar to that of Burkina Faso, but it faces its own unique challenges. Despite political instability and environmental hardship, Mali’s 23.35 million residents earn $2,640 annually.

6. Yemen – Conflict and Poverty

Yemen
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Conflict and humanitarian crises ravage Yemen, one of the poorest countries in the Arab world. As a result of the ongoing war, 34.07 million people generate just $2,050 in GDP per capita.

7. Somalia – The Fight Against Instability

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In East Africa, Somalia’s 16.05 million inhabitants live with the consequences of a long-running conflict. Somalia’s path to economic stability needs to be improved by political instability and climatic challenges.

8. Madagascar – The Island’s Economic Isolation

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Madagascar is a biodiversity hotspot off the southeastern coast of Africa but is economically isolated. Geographic isolation and political volatility constrain its 29.77 million residents, who earn $1,910 per capita.

9. Chad – Central Africa’s Landlocked Challenge

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Chad’s landlocked location in Central Africa compounds its economic difficulties. With a population of 17.92 million, the country’s GDP per capita of $1,810 reflects its inability to harness oil reserves.

10. Malawi – The Struggle in East Africa

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The East African nation of Malawi is known for its picturesque landscapes and $1,670 GDP per capita. The 22.73 million Malawians struggle against poverty and food insecurity despite their agricultural potential.

11. Niger – Confronting Desertification

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Environmental challenges and poverty are encroaching on Niger as the Sahara Desert grows. An estimated 27.07 million people live in Niger, and the country has a GDP per capita of $1,580, which highlights the broader plight of the Sahel region.

12. Mozambique – The Coastal Challenge

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Mozambique faces natural disasters and economic challenges. The country’s 33.9 million citizens struggle to overcome the legacy of civil war and cyclones.

13. Democratic Republic of the Congo – Rich Land, Poor People

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A vast mineral wealth lies beneath the surface of the Democratic Republic of the Congo, but the country remains impoverished. The country’s resource-rich land fails to provide for its massive population of nearly 100 million.

14. Burundi – The Burden of Overpopulation

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Overpopulation and political strife intensify Burundi’s struggle in East Africa. A land of limited resources and a population of 12.98 million, Burundi faces the arduous task of fostering economic growth.

15. South Sudan – A Young Nation’s Ordeal

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The world’s youngest nation, South Sudan, ranks first on this list with a GDP per capita of $475.81. Amidst conflict and the upheaval of establishing a stable economy, its citizens face immense challenges.

Unable to move forward

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The panorama of the 15 poorest countries in the world not only highlights the current economic situation of the named ones but exposes the diverse problems facing the world economy in general. There’s a need for a shift to support the structure of those living in the world as we face tremendous stress.

Source.

Author: Christopher Alarcon

Title: Journalist

Expertise: personal finance, side hustles, time management

Bio:

Christopher Alarcon is a journalist with a deep passion for personal finance. He has contributed to major online publications, including MSN, Wealth of Geeks, and Business Insider.