Truth be told, we all want to stay healthy and wealthy, never wanting to be poor but what’s the fate of citizens of the Poorest country in the world?
Poverty in the world has got lots of nicknames and it means different things in different contexts, but what does it mean to be poor?
As much as we want to know the top richest countries of the world, we also want to now the poorest countries of the world, their GDP, National Income, inflation rate, unemployment rate, etc.
To help you get the most accurate information on this topic of the world’s poorest countries, we’ve written this detailed article.
Let’s start here:
Is Somalia The Poorest Country In The World?
Is Somalia the poorest country in the world? Yes, Somalia has been battered by a gruesome civil war, then the terror group AL Shabab.
It hasn’t had a stable government in years, and even the recently elected is not fully functional.
Though its GDP PPP is a little higher than some countries in this list, the country lacks infrastructure such as roads, health facilities, schools and more.
Somalis mainly get help from NGOs like world vision and the Red Cross.
List of The Top 10 Poorest Countries In The World
Starting with the very first on the list of poorest countries in the world is Somalia.
Somalia is the semblance of an emerging country. All poor economies are in tatters because of various natural and human-made issues such as:
- Political instability
- Rampant corruption and dictatorial regimes
- Civil and ethnic wars
- Exploitative colonization
- Severe climatic conditions
Based on these issues and statistics from the World Bank, here’s a list of other top countries by poverty.
Liberia is the oldest republic in Africa, but soon after its independence, it went through political instability and civil war up to 2003.
Liberia ranks among the poorest countries in Africa and in the world because:
- The economy took a beating during the 2014 Ebola epidemic leading to a decline in productivity: agriculture, trade, and labor supply.
- Locals lack basic infrastructure: roads, electricity supply, water and access to healthcare
- Dependent on foreign aid and debt which makes over 500% of the $2.335 billion GDP: 54 percent of the 4.5 million people survive with less than $2/ day
- $710 GNI per capita
3. The Central African Republic
Statistics show that this is the third poorest country in the world with millions going without access to basic services such as food, healthcare, shelter, and clothing.
Reasons for the country’s high poverty levels include:
- Diseases such as AIDS that take the family’s breadwinners away
- The civil war that slows down economic activity
- Huge foreign debt
- Corruption derailing infrastructural development
- Lots of coups and violence leading to civilian displacement
- GNI Per Capita of $730 with 64% of the 5 million people living below the poverty line.
4. South Sudan
10 of the southernmost territories in Sudan split from it in 2011 to become an autonomous region – South Sudan, with more religious freedom but that dream, has never been achieved.
This is because greed overcame those in power leading to continuous violence, coup attempts, and civilian displacements.
About 400,000 people have died since the war broke out in 2013. South Sudan is a small economy with the following statistics:
- Most of the proceeds from its economy go into military expenditure – 3rd highest military spending in the world
- It depends on oil, but due to the war, it’s hard to exploit and produce.
- It’s an informal economy: locals are mainly now peasant farmers.
- It’s a small economy: a $1200 GNI per capita meaning people live under $3 per day.
This landlocked country in East Africa has gone from a worse crisis to the next.
From ethnic conflicts between the Hutu and the Tutsi to the present political crisis, the country’s economy stands no chance of stabilizing, here’s why Burundi is on the list of the poorest countries in the world:
- The European Union stopped the flow of aid in 2016 until the Burundian government adopts good governance measures.
- The government stopped trade with neighboring Rwanda leading to rocketing food prices.
- The decrease in coffee production – the country’s main export.
- 83% of the population survive on less than $1.25/day.
- $770 GNI per capita.
6. The Democratic Republic of Congo
While it’s known for its vast natural resources that may even power the device, you’re using to read this article; the citizens rarely benefit from these resources due to:
- Corruption: the proceeds from the mine mainly fund genocidal warlords
- Lack of infrastructure: poor roads lead to huge transport costs, farmers produce doesn’t reach the market easily
- Antiquated farming methods
- Lack of investment to stimulate the economy: ongoing civil unrest and cartels scare away investors.
- Rampant diseases such as malaria, cholera, and HIV take a toll on the labor force
- $870 GNI per capita
Malawi is among the smallest country in Africa but with a large 18 million population.
Though it has had peace and stable governments since its independence, Malawi falls in this list because:
- Bad weathers and reliance on antiquated farming methods have led to food insecurity.
- Diseases such as HIV cause families to sell properties to afford Medicare
- High illiteracy levels: only 66% can read and write
- One doctor/ 50000 individuals make access to healthcare hard
- Low GDP per capita income with 50% of the population living below the poverty line
- $1,180 GNI per capita
While the penguins of Madagascar is a shout out to the island’s pleasant wildlife, the fourth biggest island in the world has not managed to unshackle itself from the chains of poverty because:
- Locals mainly depend on small-scale subsistence farming
- The economy is battered by worst climatic conditions- destructive cyclones and monsoons cause loss of life and up to $250 million in destruction.
- Lack of stable governments: it has experienced lots of coups since breaking away from France rule.
- A 63 years life expectancy.
- A $ 9.98 billion economy with an average of 64 % of the population living below $1/ day.
- $ 1,510 GNI per Capita.
Mozambique GDP per Capita is the second lowest in the world at $ 502. Mozambique economy is reliant on agriculture without the use of modern agricultural engineering technology.
Statistics showing Mozambique is among the poorest countries in the world include:
- Of its 16 million people, 12 million of them survive with less than $1.25/day.
- Crop failures due to poor bad weather and lack of modern agricultural knowledge
- Diseases causing the death of parents and guardians, creating a largely dependent population.
- $1,200 GNI per capita
The ongoing civil war in Yemen is causing massive damages to the economy.
It’s the worst humanitarian crisis of the decade. The beat down on the economy has seen the country’s GDP per capita to be estimated at $913.
Yemenis suffer from:
- Lack of infrastructure and resources such as water and healthcare: most hospitals and roads have been damaged in the war
- Massive displacement from their home and places of business
- Worst famine: 14 million people face starvation – half of the population
Also Read: The top ten richest males in Africa
Poorest Country In the World (Summary)
In a Nutshell, while there are enough resources in the world to take care of the whole of humanity, billions of people from such poor countries are grappling with a humanitarian crisis.
The estimate of poverty in the world puts 4 billion people below the poverty line. The big cause of this crisis is of human-design -war and corruption.
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