The 25 poorest countries in the world

They say that money and does not bring happiness, and certainly economic wealth does not necessarily predict the level of satisfaction and well-being of the user. However, it is necessary to maintain a certain economic level to keep our basic needs satisfied.

The same happens when we talk about a country: having money does not mean that it is well distributed, but allows to be able to manage services and basic goods to guarantee the well-being of citizens.

Although some countries have great fortune and economic wealth, there are many others that suffer serious shortages, to the point that the greatest part of its population is impoverished, they have difficult access to food and water and sometimes have socio-sanitary and humanitarian difficulties. Throughout this article we are going to do a brief overview of the 25 poorest countries in the world.

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The poorest countries in the world based on GDP

One of the most common ways of assessing the level of wealth of a country is the use of indices such as the Gross Domestic Product or GDP, which refers to

the total amount of capital a country has produced throughout the year. Based on this index and the data collected by the International Monetary Fund or IMF (taken between the years 2017 and 2018), we can consider that the 25 poorest countries are the following.

1. Tuvalu (€ 35M)

According to IMF data, Tuvalu is the country with the lowest GDP among those on record. The old Ellice Islands are since 74 one of the countries that are part of Polynesia.

Despite its beauty, this territory is poor and not very fertile, and its inhabitants do not have drinking water. It is so low above the sea that its inhabitants have had to be evacuated frequently due to the rising water level.

2. Nauru (€ 101M)

Part of Micronesia, Nauru It is a republic that is constituted within a single island and that turns out to be the second of the countries with the lowest GDP registered. Formerly, when the island exploited the extraction of phosphates, it became a country with a level development close to that of the so-called first world, but over time it has entered a recession economical.

3. Kiribati (€ 165M)

Formed by the island of Banaba and various coral atolls, this country is also part of Oceania. With a life expectancy of about 60 years, its inhabitants have to face a great lack of natural resources in their territory. Kiribati is in third position when it comes to the poorest countries in the world in terms of GDP.

4. Marshall Islands (€ 184M)

Among the territories that are part of Micronesia we can find the Marshall Islands, one of the countries with the greatest poverty and lack of economic resources.

5. Palau (€ 275M)

The third of the Micronesian countries to appear on this list, Palau is a republic whose GDP is the fifth lowest recorded by the IMF.

6. Federated States of Micronesia (€ 321M)

The fourth and last of the countries that make up Micronesia is called the Federated States of Micronesia, and it is also one of the poorest. They depend heavily on foreign international aid.

7. Sao Tome and Principe (€ 348M)

Former Portuguese colony, São Tomé and Príncipe are part of the African territory and is made up of various islands in the archipelago of the Gulf of Guinea. And with an annual GDP of € 348 million, it is one of the poorest countries on record.

8. Tonga (€ 403M)

The Kingdom of Tonga can be found in Oceania, and is made up of almost two hundred islands. Economically it depends on agriculture and tourism, and it is the eighth country with the lowest annual GDP.

9. Dominica (€ 440M)

This country and island is one of the poorest in terms of annual GDP. One of the Windward Islands, is an important part of the Caribbean and is highly dependent on the banana industry.

10. Comoros (€ 574M)

In southeastern Africa, the Union of the Comoros is a country made up of several islands. It is one of the poorest countries in all of Africa.

11. Saint Vincent and the Grenadines (€ 695M)

To the north of Venezuela, this island country whose most important island is that of San Vicente and has an economy focused on the banana industry and the sale of stamps. Your financial situation fluctuates largely due to seasonal changes.

12. Samoa (€ 744M)

Polynesian island country with agriculture as the main economic engine, depends to some extent on foreign aid to maintain itself, although changes in their financial policies have allowed their economic situation to improve.

13. Vanuatu (€ 779M)

Located in the Pacific and east of Australia, Vanuatu is a country whose main economic engine is agriculture, albeit a subsistence one. This tax haven also has one of the lowest annual GDPs.

14. Saint Kitts and Nevis (€ 878M)

An island country located in the Caribbean, the fourteenth member of this list obtained an annual GDP of about € 878M.

15. Granada (€ 998M)

The island of Grenada is part of the Antilles, and is an island country whose main source of resources are tourism, construction and trade.

16. Solomon Islands (€ 1,154M)

Part of oceanic Melanesia, the Solomon Islands form a country whose annual GDP is among the lowest in the world.

17. Guinea-Bissau (€ 1,195M)

The Republic of Guinea-Bissau is an island country bordering Senegal whose economy is survival, focused on agriculture and livestock. The timber industry is also relevant, due to the large percentage of forests in its territory.

18. Seychelles (€ 1,326M)

The Seychelles islands form an island country. Despite being one of the countries with the lowest annual GDP, its economy has grown in recent times and in fact has one of the highest human development indices in Africa. Still the country, northeast of Madagascar, presents a significant public debt and the majority of the population is in a situation of poverty.

19. Antigua and Barbuda (€ 1,342M)

Another island country, which in this case is part of the Caribbean, has tourism as its main economic engine.

20. The Gambia (€ 1,369M)

The Republic of The Gambia is one of the first non-island but continental territories on this list. Located in the western part of Africa and surrounded by Senegal, its economy is based mainly on the agriculture and livestock for subsistence, although it also exports different products.

21. San Marino (€ 1,499M)

In European territory and specifically located in Italy, San Marino is the only one of the countries on this list of that continent. Tourism is one of the most important engines at an economic level. Despite this, its GDP is one of the lowest of last year.

22. Cape Verde (€ 1,572M)

An African island country and close to Dakar, this country suffers from a lack of natural resources and frequent problems derived from natural disasters. Tourism and services are some of the main economic engines, and its position makes it a strategic point for trade.

23. Saint Lucia (€ 1,602M)

Saint Lucia is an island country located in the Caribbean Sea. Its economy is based on the banana industry, although other sectors such as tourism have also become increasingly important.

24. Belize (€ 1,649M)

In the northeast of Central America and surrounded by Mexico and Guatemala, Belize is a country whose public debt is very high. Agriculture (especially sugar) and tourism are some of the main economic areas in the country.

25. Central African Republic (€ 1,726M)

The Central African Republic is another of the few non-island countries on this list. The main economic drivers of the place are the timber and mining sectors. Its frequent armed and military conflicts are one of the various factors that prevent its economy from taking off.

Countries with the lowest GDP per capita

Although GDP can be an index that tells us about the amount of capital that a country enjoys and produces, this does not imply that this wealth is better or worse distributed.

In this sense, a more representative index than annual GDP is GDP per capita, the relationship between the country's GDP and each of its inhabitants: that is, the amount of capital and income that on average would correspond to a citizen of a specific country.

Taking this index into account, the countries that have and produce the least capital and in which the distribution of the wealth is inequitable (often relegating much of the population to extreme poverty) are the following.

1. South Sudan (€ 208)

The country with the lowest GDP per capita of those valued by the IMF is South Sudan, in which a citizen can earn an average of 208 euros over the course of a year. This African country is one of the poorest countries in the world, despite having large deposits of natural resources.

2. Burundi (€ 258)

This African country is the second country with the lowest GDP per capita and one of the poorest. This country, one of the few whose history dates back to at least the 16th century, suffers serious problems such as a high presence of the human immunodeficiency virus, a poor judicial system efficient and a high level of famine. Economically it depends on foreign aid.

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3. Malawi (€ 300)

The third poorest country in the world is Malawi, which in 2017 had a GDP per capita of just € 300 per year. As in the two previous cases, its population has a short life expectancy and high mortality. AIDS is also highly widespread, as well as numerous armed conflicts and wars. It is one of the countries with the highest population density, and its economy is based on agriculture and external aid (although corruption has been observed when distributing it).

4. Niger (€ 335)

Agriculture, livestock and mining are some of the main economic engines of Niger, which has a GDP per capita of € 335 per year. This country has suffered numerous war conflicts and coups d'état throughout its history, and it is considered one of the poorest countries in the world.

5. Central African Republic (€ 370)

Although a few years ago it was considered the poorest country in the world, the Central African Republic did not It has only one of the lowest GDP per capita but also one of the lowest annual GDP in the world. world.

Despite having a large amount of natural resources, the presence of major recurring conflicts in this country makes it difficult to improve their economic and social situation.

6. Mozambique (€ 376)

Mozambique had between 2017 and 2018 a GDP per capita of 376 euros. This country has also been beset by serious conflicts, and its population also has difficulty eating. Mortality is high and life expectancy is short. Its economy is basically subsistence and based on agriculture.

7. Madagascar (€ 398)

An island located to the east of Mozambique and other neighboring countries is Madagascar, another of the countries with the lowest GDP per capita. The country experienced severe political crises in the past. Its economy is based on agriculture (highlights that of cinnamon and coffee). Its living conditions and life expectancy of its inhabitants are above those mentioned so far, reaching 60 years of age.

8. Somalia (€ 423)

Somalia is one of the best known African countries and with the highest level of poverty. It is a country that is organized as a federal republic, although throughout history has not presented a joint and stable government, something that has hindered its management and economic improvement.

9. Democratic Republic of the Congo (€ 444)

This African country also has a high level of poverty, being one of the poorest (even having been the country with the highest level of poverty). With a high percentage of famine and one of the lowest human development indicesIn addition to having suffered different conflicts, its main economic engine is mining.

10. Sierra Leone (€ 448)

Founded by freed slaves and known in recent years for having been ravaged by the relatively recent Ebola epidemic, Sierra Leone is a country with a really low GDP per capita of € 448.

With very unevenly distributed wealth, it was named one of the countries with the highest level of poverty. Disease and famine are frequent, as is the population's dependence on humanitarian aid to survive.

11. Afghanistan (€ 504)

Afghanistan is another of the countries with a more precarious situation economically. With a GDP of € 504 and the presence of a large number of wars and armed conflicts taking place in its territory, life for civilians is not easy. The main economic engine is agriculture and mining, including their multiple oil fields.

12. Togo (€ 540)

Togo is a little known country that lies between Ghana and Benin. Its economy is based on agriculture, although it also has deposits of iron and other minerals in addition to agricultural activity. However it is mainly subsistence.

13. Uganda (€ 546)

Uganda is one more case of countries that, despite having a large amount of natural resources, is impoverished and without means. With serious war conflicts and situations of corruption, together with the country's serious indebtedness, they make survival difficult.

14. Burkina Faso (€ 570)

With a high population and a hardly cultivable soil, this country is one of the poorest in the world. Despite the difficulty of using the soil for agriculture, this sector is one of the most important in its economy. However, they need humanitarian and international aid.

15. Chad (€ 588)

This African country has a GDP per capita of € 588, and more than 80% of the country lives below the poverty line. Subsistence agriculture and livestock are their most frequent economic activities.

16. North Korea (€ 603)

Despite its secrecy and large military budget, North Korea has one of the lowest GDP per capita in the world. In addition, the totalitarian regime that governs it, its isolation and the blockades imposed make it difficult to help improve the situation of the population.

17. Liberia (€ 614)

Bordering Sierra Leone, Liberia shares with that country the fact of being one of the poorest countries and with the worst GDP per capita. Mining is one of the economic engines of this country, often exercised in subhuman conditions.

18. Ethiopia (€ 639)

This African country, with a GDP per capita of € 639, bases its economy on agriculture and mining, as well as on aid from other countries.

19. Gambia (€ 651)

The Gambia, in addition to a GDP per capita among the lowest, also has a gross GDP that is also among the most impoverished. As we have seen previously, agriculture and livestock are its main economic activities. It relies heavily on international aid to sustain itself.

20. Rwanda (€ 663)

Despite the fact that in recent times it has managed to improve its situation, Rwanda is a country with a low GDP per capita of € 663. The aftermath of wars and genocide lived in the country are still valid, so the economic capacity of the country is low. Subsistence agriculture and tourism are some of the most common economic activities.

21. Guinea-Bissau (€ 703)

Again, one of the countries in which it agrees that both gross GDP and per capita GDP are among the most lowlands of the world, Guinea-Bissau's main economic engines are agriculture and livestock, as well as industry lumber company.

22. Comoros (€ 706)

This island state, with a high level of unemployment and highly dependent on international aid, has as its main economic activities forestry or use and management of forests (both wood and other materials), tourism and agriculture (although the latter tends to be more subsistence).

23. Tajikistan (€ 709)

Located in Asia and north of Afghanistan, Tajikistan is one of the poorest countries on the Asian continent, at least when it comes to GDP per capita. With more than half of the population below the poverty line and with a high percentage of unemployment, cotton and aluminum are some of the products with which more money can be do.

24. Guinea (€ 729)

Agriculture is the majority activity in this country. They also have great mineral resources that can be exploited. However, Guinea is highly dependent on external aid to survive.

25. Benin (€ 732)

Located in Africa, the Republic of Benin is the last of the 25 poorest countries in the world if we take into account the GDP per capita as an index to analyze it. Is about a country rich in resources, but whose economic activity is based on subsistence agriculture.

Bibliographic references:

• World Economic Outlook Database (2018). International Monetary Fund.