Though we are living in the year 2024 which has seen immense growth in terms of industrial development and economic growth. However, there still are myriad countries across the globe that continue to struggle with economic challenges, ranking among the poorest in terms of GDP per capita. Here are 10 of the poorest nations, based on their GDP per capita:
South Sudan ($492.72)
Credit: iStock
01
South Sudan ($492.72)
On number one in the list is South Sudan. The country has been grappling with decades of conflict and is facing a number of economic hurdles, including limited infrastructure and dependence on oil revenues, which are vulnerable to fluctuations in global prices.
Burundi ($936.42)
Credit: iStock
02
Burundi ($936.42)
Then in the list is the East African nation Burundi. The economy of this country is largely agrarian, with a fai portion of the population engaged in farming. Political instability and ethnic tensions have hindered economic development.
Central African Republic ($1,140.00)
Credit: iStock
03
Central African Republic ($1,140.00)
Central African Republic, despite its immense natural resources, including diamonds and timber, continues to struggle with instability, poverty, and underdevelopment.
Democratic Republic of the Congo
($1,570.00)
Credit: iStock
04
Democratic Republic of the Congo ($1,570.00)
Congo is blessed with natural resources but still is struggling with economic growth. The country ranks among the poorest nations due to decades of conflict, corruption, and mismanagement.
Mozambique ($1,650.00)
Credit: iStock
05
Mozambique ($1,650.00)
Mozambique also faces economic challenges given factors such as low literacy rates, inadequate infrastructure, and vulnerability to natural disasters. While the country has made progress in recent years, poverty remains widespread, particularly in rural areas.
Malawi ($1,710.00)
Credit: iStock
06
Malawi ($1,710.00)
Malawi’s economy is heavily dependent on agriculture, with a large portion of the population engaged in subsistence farming. Limited access to education, healthcare, and infrastructure further exacerbates poverty in this landlocked nation.
Niger ($1,730.00)
Credit: iStock
07
Niger ($1,730.00)
Niger is faced with numerous challenges, including food insecurity, low levels of education, and a fragile healthcare system. The economy is predominantly agrarian, with agriculture accounting for a significant portion of GDP.
Chad ($1,860.00)
Credit: iStock
08
Chad ($1,860.00)
Chad’s economy is heavily reliant on oil exports, which account for the majority of government revenue. However, poverty remains widespread, exacerbated by factors such as political instability, ethnic tensions, and underdeveloped infrastructure.
Liberia ($1,880.00)
Credit: iStock
09
Liberia ($1,880.00)
Liberia is known for being a natural home of iron ore and rubber. The country faces major economic challenges due to the legacy of civil war, corruption, and weak institutions.
Madagascar ($1,990.00)
Credit: iStock
10
Madagascar ($1,990.00)
Madagascar ranks 10th in the list. The country’s economy is primarily agricultural,
