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CEOWORLD magazine - Latest - Special Reports - Revealed: These Are The Poorest Of The World’s Poorest Countries, 2024

Special Reports

Revealed: These Are The Poorest Of The World’s Poorest Countries, 2024

People

The world has abundant wealth and resources that could provide a decent standard of living for everyone. Unfortunately, there are still countries such as Burundi, Sierra Leone, and South Sudan where people experience extreme poverty. If you want to learn about the poorest countries in the world, you can refer to this report which lists the countries with the lowest GDP per capita in 2024. Before diving into the list, let’s first understand the concept of GDP per capita and how a country is ranked based on this metric.

GDP refers to the Gross Domestic Product, which measures the total value of goods and services produced by a country in a year. To determine how wealthy or impoverished a country is, we must also take into account its population. This is where GDP per capita comes in; it is calculated by dividing a country’s GDP by its total population.

It’s important to remember that GDP per capita doesn’t always provide the full picture. This is because the cost of living and inflation rates can differ significantly between countries. Purchasing Power Parity (PPP) is a better way to compare living standards across countries as it takes into account local costs and inflation rates. Some countries may have a higher GDP per capita due to being tax havens. Using GDP per capita PPP in the 2023 ranking can help identify the poorest countries in the world more accurately. These are the poorest countries in the world by GDP per capita PPP.

Poorest Countries in the World, 2024

RankCountryRegionGDP (PPP) per capitaGDP (PPP)GDP (nominal) per capitaGDP (nominal)
1South SudanAfrica4767,1434176,267
2BurundiAfrica89011,5512463,190
3Central African RepublicAfrica1,1095,6785392,760
4DR CongoAfrica1,510150,88367567,512
5NigerAfrica1,57942,73963117,073
6MozambiqueAfrica1,58453,71064721,936
7EritreaAfrica1,62952246442255
8MalawiAfrica1,66837,91958013,176
9North KoreaAsia1,70040,00065416750
10LiberiaAfrica1,7899,7188004,347
11ChadAfrica1,80732,37570312,596
12MadagascarAfrica1,90756,75453015,763
13AfghanistanAsia1,99180,91244314,939
14SomaliaAfrica1,99832,07871711,515
15YemenAsia2,05369,96361821,045
16Sierra LeoneAfrica2,09717,7844153,519
17KiribatiOceania2,3812971,968246
18Solomon IslandsOceania2,4111,7832,2851,690
19MaliAfrica2,63961,62591321,309
20Burkina FasoAfrica2,68362,78888820,785
21ZimbabweAfrica2,75044,4482,00632,424
22TogoAfrica2,76825,1031,0049,111
23GambiaAfrica2,8377,5029032,388
24VanuatuOceania2,9409813,4921,166
25Guinea BissauAfrica3,0885,9811,0281,991
26RwandaAfrica3,13742,3461,03213,927
27HaitiAmericas3,18638,9522,12525,986
28UgandaAfrica3,222145,1571,16352,390
29LesothoAfrica3,2356,9151,1102,373
30GuineaAfrica3,24148,7501,54323,205
31Papua New GuineaOceania3,40341,7852,58131,692
32ComorosAfrica3,4643,4321,3771,364
33TanzaniaAfrica3,595227,7251,32784,033
34SudanAfrica3,605172,65153425,569
35EthiopiaAfrica3,719393,2971,473155,804
36East TimorAsia3,7475,0621,4972,023
37MicronesiaOceania3,9224134,358458
38ZambiaAfrica4,06883,6871,48629,536
39São Tomé and PríncipeAfrica4,1479622,905674
40BeninAfrica4,30559,2411,44919,940
41SenegalAfrica4,32578,5471,71531,141
42CameroonAfrica4,661133,3351,72249,262
43NepalAsia4,934150,8001,35341,339
44MyanmarAsia5,124277,7671,38174,861
45TajikistanAsia5,36153,6791,18011,816
46CongoAfrica5,55227,9942,85814,407
47TuvaluOceania5,766635,77363
48CambodiaAsia6,08798,3191,91630,943
49NigeriaAfrica6,1481,365,9031,755390,002
50SyriaAsia6,37450,28053719719
51KyrgyzstanAsia6,43844,6231,83012,681
52SamoaOceania6,5441,3254,638939
53KenyaAfrica6,577338,9642,188112,749
54PalestineAsia6,64236,3913,46418,109
55PakistanAsia6,7731,568,4271,471340,636
56GhanaAfrica6,905227,1892,32976,628
57Ivory Coast (Côte d'Ivoire)Africa6,960202,6472,72879,430
58DjiboutiAfrica6,9857,1933,7613,873
59AngolaAfrica7,077260,3232,55093,796
60TongaOceania7,1277115,488547
61HondurasAmericas7,16375,0303,24533,992
62MauritaniaAfrica7,54233,4142,33810,357
63NicaraguaAmericas7,64251,0222,59917,353
64VenezuelaAmericas7,985211,9263,47492,210
65BangladeshAsia8,6731,476,8702,621446,349
66IndiaAsia9,18314,260,0002,6123,732,224
67LaosAsia9,78774,2051,87914,244
68Cape Verde (Cabo Verde)Africa9,9095,7174,5032,598
69UzbekistanAsia10,316371,6462,50990,392
70BoliviaAmericas10,340125,4283,85846,796
71MoroccoAfrica10,408385,3373,980147,343
72GuatemalaAmericas10,595201,3655,407102,765
73BelizeAmericas11,1665,0327,1423,218
74NauruOceania11,16914311,757150
75PhilippinesAsia11,3261,278,6243,859435,675
76NamibiaAfrica11,60330,6634,78612,647
77El SalvadorAmericas11,71774,5055,55835,339
78IraqAsia11,742508,9735,883297,695
79LebanonAsia11,79472,3703,28337945
80EswatiniAfrica11,85913,7973,9954,648
81AnguillaAmericas12,20017519,216303
82CubaAmericas12,300137,00056,495633442
83JordanAsia12,809132,0924,85150,022
84JamaicaAmericas12,99535,6906,83118,761
85TunisiaAfrica13,249162,0974,19151,271
86EcuadorAmericas13,285242,5796,500118,686
87AlgeriaAfrica13,682628,9904,875224,107
88Sri LankaAsia14,267319,5233,34274404
89VietnamAsia14,2851,434,2114,316433,356
90BhutanAsia14,29710,9693,5002,686
91UkraineEurope14,304474,7735,225173,413
92DominicaAmericas14,3481,0699,356697
93MongoliaAsia15,08852,9895,34818,782
94PalauOceania15,16926815,113267
95ParaguayAmericas15,533117,3495,84344,142
96KosovoEurope15,76727,9185,91210,469
97IndonesiaAsia15,8344,720,0005,1091,417,387
98PeruAmericas15,894548,4657,669264,636
99South AfricaAfrica16,211997,4446,191380,906
100FijiOceania16,56415,1526,0255,511
101Cook IslandsOceania16,70030019,264328
102MoldovaEurope16,91642,2176,41116,000
103French PolynesiaOceania17,0005,49019,9996055
104EgyptAfrica17,1231,920,0003,770398,397
105Saint Vincent and the GrenadinesAmericas17,8401,9809,3601,039
106SurinameAmericas18,31111,4355,6673,539
107Equatorial GuineaAfrica18,36228,3566,50210,041
108AzerbaijanAsia18,694192,1467,53077,392
109BarbadosAmericas18,7385,43621,4426,220
110Saint LuciaAmericas18,9733,45213,5722,469
111GabonAfrica19,16541,9228,83219,319
112BotswanaAfrica19,39451,8867,75820,756
113ColombiaAmericas19,4821,016,1246,976363,835
114AlbaniaEurope19,56655,9288,05723,032
115Bosnia and HerzegovinaEurope19,63468,0127,77826,945
116ArmeniaAsia19,74558,4978,28324,540
117TurkmenistanAsia19,939126,13212,93481,822
118IranAsia19,9421,810,0004,234366,438
119BrazilAmericas20,0794,260,00010,4132,126,809
120GrenadaAmericas20,1952,30711,4371,306
121North MacedoniaEurope21,39144,0557,67215,801
122GeorgiaAsia22,35782,2108,16530,023
123ThailandAsia22,4911,578,4527,298512,193
124CuracaoAmericas22,8323,20517,7182700
125Turks and Caicos IslandsAmericas22,91591820,1771139
126ChinaAsia23,30935,004,00012,54117,700,899
127BelarusEurope24,017221,1867,47768,864
128LibyaAfrica24,382166,8875,87240,194
129MexicoAmericas24,9763,420,00013,8041,811,468
130Antigua and BarbudaAmericas25,4492,60119,0681,949
131Dominican RepublicAmericas25,523273,70311,249120,629
132SerbiaEurope26,074173,07511,30175,015
133ArgentinaAmericas26,5061,239,51513,297621,833
134Costa RicaAmericas26,809141,52716,21385,590
135MontenegroEurope28,00217,43111,3387,058
136UruguayAmericas28,984103,37221,37876,244
137MauritiusAfrica29,34937,01211,75214,819
138Saint Kitts and NevisAmericas29,8931,76018,1581,069
139ChileAmericas29,935597,52017,254344,400
140Trinidad and TobagoAmericas30,71943,65819,62227,887
141New Caledonia (France)Oceania31,10011,11036,66810071
142KazakhstanAsia32,712654,05012,968259,292
143BulgariaEurope33,780216,49916,087103,099
144MontserratAmericas34,00016716,19972
145British Virgin IslandsAmericas34,20050049,4441539
146RussiaEurope35,3105,230,00013,0061,862,470
147MalaysiaAsia37,0831,225,92713,034430,895
148MaldivesAsia37,09414,74017,5596,977
149OmanAsia39,336200,29521,266108,282
150GreeceEurope39,864416,96923,173242,385
151LatviaEurope40,89276,55024,92946,668
152RomaniaEurope41,029780,79718,413350,414
153Puerto RicoAmericas41,682132,05237,093117,515
154GreenlandAmericas41,8002,41357,1163273
155Sint Maarten (Dutch part)Americas41,8121,47136,2201572
156SeychellesAfrica41,8294,17520,8902,085
157TurkeyAsia41,8883,810,00013,3841,154,600
158SlovakiaEurope42,228229,58424,471133,044
159PanamaAmericas42,738190,30618,49382,348
160CroatiaEurope42,873164,67220,87780,185
161HungaryEurope43,601421,68321,075203,829
162BahamasAmericas44,95018,14634,37113,876
163PortugalEurope45,227465,13126,879276,432
164EstoniaEurope45,23660,99730,99841,799
165PolandEurope45,5381,712,62922,393842,172
166Czech RepublicEurope49,025539,31830,475335,243
167LithuaniaEurope49,245137,32828,48279,427
168SpainEurope50,4722,510,00033,0901,582,054
169ArubaAmericas51,3525,50235,7183,827
170SloveniaEurope51,407108,68332,35068,394
171KuwaitAsia51,765256,59332,215159,687
172JapanAsia52,1206,710,00033,9504,230,862
173New ZealandOceania53,809279,18348,072249,415
174CyprusAsia53,93149,65534,79132,032
175ItalyEurope54,2593,290,00037,1462,186,082
176IsraelAsia54,771537,14053,196521,688
177South KoreaAsia56,7093,006,00033,1471,709,232
178United KingdomEurope56,8363,980,00048,9123,332,059
179FranceEurope58,7654,010,00046,3153,049,016
180CanadaAmericas59,8132,470,00053,2472,117,805
181FinlandEurope59,869335,76054,507305,689
182BahrainAsia60,71595,97328,46444,994
183GuyanaAmericas61,09948,51420,56516,329
184MaltaEurope63,48133,30338,71520,311
185AustraliaOceania64,6751,780,00063,4871,687,713
186BelgiumEurope65,813769,68253,657627,511
187GermanyEurope66,0385,720,00052,8244,429,838
188SwedenEurope66,209715,99555,216597,110
189AndorraEurope68,2325,71144,1073,692
190Saudi ArabiaAsia68,4532,390,00032,5861,069,437
191AustriaEurope69,069626,45858,013526,182
192IcelandEurope69,83327,07878,83730,570
193TaiwanAsia72,4851,685,35832,339751,930
194BruneiAsia72,61032,00034,38415,153
195Hong Kong (China)Asia72,861548,99951,168385,546
196NetherlandsEurope73,3171,297,02461,7701,092,748
197Cayman IslandsAmericas74,1554,76388,4765809
198DenmarkEurope74,958441,75471,402420,800
199United StatesAmericas80,41227,970,00080,41226,949,643
200NorwayEurope82,236452,96499,266546,768
201San MarinoEurope84,1352,87258,5411,998
202United Arab EmiratesAsia88,962895,16650,602509,179
203SwitzerlandEurope89,537788,335102,865905,684
204BermudaAmericas95,8375,441118,8467551
205Macau (China)Asia98,15769,56554,29638,480
206QatarAsia114,210328,13481,968235,500
207MonacoEurope115,7007,672234,3178596
208SingaporeAsia133,108786,87087,884497,347
209IrelandEurope137,638722,929112,248589,569
210LiechtensteinEurope139,1004,978184,0836608
211LuxembourgEurope143,30494,152135,60589,095

The world’s most impoverished countries, predominantly in sub-Saharan Africa and parts of Asia, face substantial challenges in achieving economic growth and improving the well-being of their citizens. These nations grapple with a range of issues that hinder their progress and impede the quality of life for their inhabitants.

Extreme Poverty: One of the most pressing issues in these countries is extreme poverty. A large proportion of the population in these regions lives below the international poverty line, struggling to meet basic needs such as food, shelter, and clean water. This level of poverty is often a result of a combination of factors including limited access to resources, poor infrastructure, and a lack of economic opportunities.

Healthcare and Education: Inadequate access to healthcare and education further exacerbates the challenges faced by these countries. Limited healthcare facilities, a shortage of medical professionals, and lack of access to essential medicines lead to poor health outcomes and high mortality rates. Similarly, educational systems in these countries often suffer from a lack of resources, insufficient number of schools, and untrained teachers, which results in low literacy rates and limited skill development.

Political Instability: Political instability is another significant barrier to development in these regions. Frequent conflicts, weak governance, and corruption undermine efforts to improve economic and social conditions. This instability often leads to a vicious cycle where lack of development fuels political unrest, which in turn hampers further development.

Environmental Pressures: Environmental challenges also play a crucial role in the struggles of the world’s poorest countries. Climate change, deforestation, and natural disasters disproportionately affect these regions, further limiting their ability to grow economically and provide for their citizens. These environmental issues not only impact agriculture and food security but also lead to health problems and displacement of communities.

Economic Indicators: Gross National Income (GNI): Gross National Income (GNI) is a critical metric for assessing the wealth of a nation. It measures the total domestic and foreign output claimed by residents of a country. However, GNI per capita, which divides the GNI by the population of the country, provides a more accurate insight into the average income of its citizens and their standard of living.

Low GNI Per Capita and Its Implications: Nations with the lowest GNI per capita are often those that face the aforementioned challenges. A low GNI per capita is indicative of limited economic activity and a small industrial base. This economic indicator correlates strongly with various social issues, including reduced life expectancies, high rates of illiteracy, and poor health outcomes. The low GNI per capita reflects the struggles of these countries in providing fundamental necessities for their populations, such as adequate healthcare, education, and a stable food supply.

In summary, the world’s most impoverished countries, primarily in sub-Saharan Africa and parts of Asia, are mired in a complex web of challenges. From extreme poverty and inadequate healthcare and education to political instability and environmental pressures, these nations face a steep uphill battle in improving the living conditions of their citizens. The GNI per capita serves as a telling indicator of these struggles, directly impacting life expectancy and the overall quality of life. Addressing these issues requires a multifaceted approach involving sustained international support, effective governance, and targeted development programs.


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CEOWORLD magazine - Latest - Special Reports - Revealed: These Are The Poorest Of The World’s Poorest Countries, 2024
Despina Wilson
I am a senior editor and data journalist at CEOWORLD magazine. My job involves using infographics to report on news topics related to business and policy, with a global perspective. I hold a master's degree in journalism and have worked for newspapers and reporting projects in both the US and the UK, giving me a unique transatlantic perspective. I believe that data can enhance coverage of all news topics. As a contributor, I plan cover a wide range of issues, such as gender equality, climate change, labor, and immigration, using relevant statistics and insightful visualizations.

Email: despina@ceoworld.biz