The country can be classified into rich and poor on the basis of its rate of employment, Gross Domestic Product (GDP) per capita, the rate of literacy, purchasing power affinity, and various other parameters.If the figures of GDP and PPP are lower then the country falls into the category of poorest countries. In the world, there are many countries which have GDP lower than $1000 in a year. Here is given a list of top 10 poorest countries in the world:
The country is situated in the south-eastern Africa having a population of 16 million, It is among the list of top 10 poorest countries in the world with a GDP of $226.50. Due to its low per capita and living standards of people, the country is among the poorest countries.
The high infant mortality and the expectancy of low life can not be controlled yet in the country. It is a less developed country in the world. Some improvement shaves seen in the country but not enough because these aids depend upon the variable foreign aids.
It is a country in the Great Lakes of Africa which is enlisted in the poorest countries of the world. The nation has a gross rate of GDP of $267.10. The country has to face issues like warfare, corruption, illiteracy and political growth. The instability in the economic condition restrains the growth and its development.
According to the Global Hunger Index, it is also the hungriest country in the world and accommodates up to 10 million of people who belongs to a diverse ethnic culture like Hutu and Tulsi contributing to the political restlessness.
3 The Central African Republic
This place is highly rich in minerals and naturally available resources like lumber, crude oil, uranium, gold, diamonds and power of hydro energy. Despite all these resources, the country is among the list of poorest countries of the world. Also, the country has very less development of humankind and its economic growth, with the net GDP of $333.20.
The growth has been demolished by the Central African Republic Bush War and also leads to the displacement of the massive population leaving many people as homeless.
The country has a population of about 17 million with the majority of Muslims located in the Republic of Western Africa. In the continent Africa, it is considered as the largest nation in which 80% of the area is occupied by the Sahara Desert. It is among the low-ranking country of Africa.
The drought went with the process of common desertification and enrolling the country into the top poorest countries of the world. The nation has a GDP of $415.50 approx. This net worth is not sufficient for fulfilling the basic needs of the people of the country.
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It is one of the poorest countries in the world and the population of about 85 million spends their lives below the poverty line of international level with a GDP of $454.30 per capita. The country has four million habitants in the West Africa acquiring an area of around 111,369 square kilometers adding onto the poorest countries of the world.
Before two civil wars, the country is considered to be the most developed country. But the war caused the death of 0.5 million people and the economy of the country is devastated. An economic and health crisis has been generated by an epidemic Ebola which victimized thousands of people.
It is known to be an island country situated in the Indian Ocean. An estimate tells that 22 million of people in the country are below the rate of poverty. In a day, ninety per cent of people is living on less than two dollars.
A political crisis is the main cause of lower quality of life and weakness in the economy, enrolling into the poorest countries in the world. The country has a capital of $463.00 per capita. The overall economic growth is mostly influenced by the agriculture and ecotourism which also improves the living standards of people.
7 The Democratic Republic of the Congo
It is also known as Congo situated in the Central Africa including in the list of poorest countries. It is the second largest country in Africa in terms of area with a population of more than 77 million.
The country is rich in natural resources but the instability in politics results in corruption, lack of infrastructure and less development. In the country, the misuse of the resources leads to the decline of its GDP to $484.
8 The Gambia
It is the smallest country in the land of Africa situated in the enclave of West Africa. The country has a population of about 1.8million and acquiring an area of 10,689 square kilometers of the continent. The per capita income for the people is about $488.90 which comes from the farming, tourism, and fishing.
It also comes under the international level of poverty, enlisting it in the list of poorest countries of the world. It uses the old techniques of fishing and farming so it did not increase the level of the economy.
In history, it remains to be the wealthiest nation. They have undergone a vast reform sin politics, one of the benefits facilitated in the growth of economy and stabilization. In terms of its economic performance, it has placed itself above the nations of Sub-Saharan Africa. It holds the GDP of $505.00 remains to be one of the poorest countries in the world.
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The gross domestic product (GDP) of the country is a power of purchasing goods and services that are produced in the country itself divided by its population for the measurement of the wealth of the country. It gives the definition of purchasing power of a single person in a country.
The country has a per capita income of $523.10 and it has not seen a stability in economic conditions since 1990’s when their agricultural and mining industries were performed well.