New Delhi: GDP is one of the most popular abbreviations used in Economics. The full form of GDP is gross domestic product. It is often cited in news and government reports, and other reports by central banks, and the business community. It is used as a reference point for the health of national and global economies. If the GDP is growing, workers and businesses are generally better off than when it is not.
GDP is a monetary measure of the market value of all the final goods and services produced and rendered in a specific time period by a country. It is widely used to measure a country or region’s economic health. To get GDP per capita, the GDP is divided by the total number of people in the country. In this article, we will take a look at the poorest nations in the world as per GDP per capita.
Poorest nations in the world as per GDP per capita
South Sudan
From 2013 to 2020, South Sudan was embroiled in a civil war. The country endured rampant human rights abuses, including ethnic massacres, forced displacement and killings of journalists. Since 2020, it has been governed by a coalition formed by leaders of the former warring factions, Salva Kiir Mayardit and Riek Machar. The country is experiencing ongoing and systemic ethnic violence. The GDP of the country is $6.52 billion.
Burundi
Burundi is one of the poorest nations when it comes to GDP per capita, and is one of the least developed countries. It faces widespread poverty, corruption, instability, authoritarianism, and illiteracy. In 2018, the World Happiness Report ranked it as the least happy in the world with a rank of 156. Its land is used mostly for subsistence agriculture and grazing. Deforestation, soil erosion, and habitat loss are major ecological concerns. The GDP of Burundi is $3.08 billion.
Central African Republic
The Central African Republic, despite its significant mineral deposits and other resources, along with significant quantities of arable land, is among the ten poorest countries in the world. As of 2022, according to the Human Development Index (HDI), it ranked 191 out of 193 countries. The country had the second lowest inequality-adjusted Human Development Index (IHDI), and the country is also estimated to be the unhealthiest and also the worst country in which to be young. The GDP of the country is $2.81 billion.
Democratic Republic of the Congo
The country has tremendous natural resources but it is suffering from political instability and centuries of colonial exploitation. The country has witnessed little development and in 2021, DR Congo’s level of human development was ranked 179th out of 191. As of 2018, around 600,000 Congolese refugees were still living in neighbouring countries. The fighting has displaced 4.5 million people and 2 million people risk starvation. The GDP of the country is $73.76 billion.
Mozambique
The nation located in southeast Africa is one of the poorest and most underdeveloped countries in the world, ranking low in GDP per capita, human development, measures of inequality and average life expectancy. Despite being rich in natural resources and boasting an improving GDP, the country remains among the world’s poorest. The country faces poverty due to rapid population growth, natural disasters, disease, wealth inequality and low agricultural productivity. The GDP of the country is $22.98 billion.
