50 Poorest Countries in the World
In this article, we will be taking a look at the 50 poorest countries in the world. To skip our detailed analysis, you can go directly to see the 10 poorest countries in the world.
You might think that with the resources the world boasts right now, it is simply the proper usage of such resources which is why the success or failure of each country is based on its own performance and mistakes. Racists believe the truth to be even simpler; since most of the poorest countries in the world are located in Africa, these people believe that people who aren't white are simply inferior in every way, also pointing to most of the developed countries in the world having a population which is majority white.
Of course, the truth is anything but the above. There are several major reasons which impact the success of a country. Before we talk about the present, let's first go to the past. European nations colonized most of the world centuries ago, with many countries only declaring independence in the last century. Let's consider India for example. According to a 2014 study, India was quite well off five centuries ago, before the British entered the country. While the British started trading in India much earlier, they became the dominant power in the country in 1757, after which it ruled the subcontinent for two centuries, in which wealth was plundered from India at a massive scale, while millions in the country were left destitute. Even though the British left India after dividing it into India and Pakistan in 1947, both countries still have a lot of catch up to do. While they may not be among the poorest countries in the world, and India's GDP may be competing with the biggest nations, poverty is still a huge issue with hundreds of millions living below the poverty line in the country due to inequality of resource distribution, with the country also being home to one of the wealthiest families in the world.
Pixabay/Public Domain
Another study, conducted in 1996, researched the impact of colonization on Africa, where many countries were colonized by European powers. The study concluded that after considering everything, the impact of colonization on Africa's growth was overall negative, stating "Finally, we show that variables capturing colonial heritage account for the different and negative performance of Africa relative to other continents are highly correlated with the Sub-Sahara dummy that other studies have used".
While history and colonization have impacted the poorest countries in the world, there are other factors at play as well. According to another study conducted in 2019, stated that high-income countries realize the importance of research and development, and invest heavily in it, to come up with solutions to problems that exist right now. On the other hand, low income countries either do not give R&D its due importance, or have too many other issues or too few resources to be able to properly allocate investments to R&D. In 2019, global R&D expenditure was $1.7 trillion and only 10 countries accounted for more than 80% of it, most of them being Western, developed nations. Sub-Saharan Africa has the lowest percentage spend on R&D meanwhile. While high income countries have outpaced poverty and infrastructure issues, low income countries are still impacted severely by these issues, not to mention malnutrition and food crisis, which takes up most of their resources. Low income countries also account for more than 85% of the global disease burden which again eats into the already meagre resources these countries have.
Another reason that has affected the poorest countries in the world is industrialization. The first instance of industrialization, which transforms an economy from being agriculture dominated to becoming an industrial economy, took place in Western Europe and North America from the mid 18th to early 19th century. This gave these countries a massive advantage in being able to maximize income per person as opposed to other economies which were still mostly agrarian based, and hence, not as well-off. In the 20th century, countries in East Asia became industrialized as well, while Brazil, Russia, China and South Africa are currently in the process of undergoing industrialization. There are other issues as well that plague poorer countries including corruption and lack of implementation of laws, not to mention a lack of access to education, which is extremely important in enabling a country to break off its shackles and rising further.
The above explanations show quite a gloomy picture of the poorest countries in the world, and make it seem almost impossible to get out of this situation. However, there are positive stories to focus on as well. When it gained independence in 1948, South Korea was home to a mostly agricultural based economy with low income and an impoverished population. However, from 1960 to 1996, the country underwent rapid growth which transformed it into an industrial society, which is home to some giants corporations including Samsung Group, KB Financial Group Inc. (NYSE:KB) and POSCO Holdings Inc. (NYSE:PKX). One of the main reasons that the country has improved so much is because of its strong focus on high quality education which has been accessible to the vast majority of the population (see 25 most educated countries).
Just like South Korea, there are many other nations which are working on improving their economies and developing strongly. This makes them prime for investment, but with additional risks. If you want a safe, steady investment, you can invest in Western Europe and North America, which are still growing but at low rates, and relatively free of any substantial risks. On the other hand, the poorest countries in the world generally have much higher growth rates as there is a lot more potential to grow substantially, with the risk that things might not pan out and even go in the other direction. When we discuss the list, we will mention the average 5 year growth rate of the country's GDP to display how ripe these nations could be for investment. We calculated the CAGR of each country's economy over the last five years, and five of the top 10 countries are from Africa, which is also home to several of the poorest countries in the world.
To determine the poorest countries in the world, we have considered both their GDP and GDP per capita. There will be countries with higher GDP because of a bigger population but shouldn't be counted among the richest countries since their GDP per capita is quite low. This is why we've allocated 70% weightage to GDP per capita, with all data being taken from the World Bank. Most of these companies have a GDP which isn't even close to some of the most valuable companies in the world, including Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG) and Apple Inc. (NASDAQ:AAPL). So, without further ado, let's take a look at the countries which may not be doing so well right now, but could improve dramatically in the coming years and decades, starting with number 50:
50. Samoa
Total GDP (in billions): $0.8
GDP Per Capita: $3,857
5 Year CAGR: -0.94%
There are several Pacific islands in our list, including Samoa, which has struggled to fight poverty because of a vulnerability to natural disasters and rising unemployment. Tourism is an increasingly important sector of the economy in Samoa, with the country's beautiful beaches, cultural attractions, and friendly locals attracting visitors from around the world.
49. Zimbabwe
Total GDP (in billions): $28.4
GDP Per Capita: $1,773.9
5 Year CAGR: 10.04%
Zimbabwe is a country in southern Africa with a diverse economy that is driven by a number of different industries. One of the few countries with a CAGR of over 10%, Zimbabwe is still quite poor, with poverty increasing since the 1990s. Zimbabwe has a number of natural resources, including diamonds, gold, platinum, and chrome, and these resources are an important contributor to the economy.
48. Republic of Congo
Total GDP (in billions): $13.4
GDP Per Capita: $2,290
5 Year CAGR: 3.8%
The Republic of the Congo is a smaller country located on the Atlantic coast of central Africa. It is bordered by Gabon to the west, Cameroon to the northwest, the Central African Republic to the north, and the Democratic Republic of the Congo to the east. The capital city of the Republic of the Congo is Brazzaville. A low level of education and high unemployment has led to the Republic of Congo being among the poorest countries in the world.
47. Haiti
Total GDP (in billions): $20.9
GDP Per Capita: $1,830
5 Year CAGR: 3.8%
Haiti is a Caribbean country with a small and underdeveloped economy that is primarily based on agriculture, manufacturing, and services. Remittances from Haitian nationals living abroad are a significant contributor to the economy of Haiti. The 2010 earthquake absolutely devastated Haiti and the country hasn't recovered since. It is home to an extremely high percentage of crimes, with gangs basically ruling its capital. Haiti struggles with consistent and efficient energy generation and distribution, and the lack of access to affordable and reliable power hinders investment and business growth in the country. Most of the electricity in Haiti is generated using imported fossil fuels.
46. Senegal
Total GDP (in billions): $27.6
GDP Per Capita: $1,637
5 Year CAGR: 5.6%
Senegal is a West African country with a diversified economy. A low literacy rate and high unemployment rates have contributed to Senegal being among the poorest countries in the world. Senegal has a trade agreement with the US. Under this trade agreement, Senegal exports processed foods, seafood, and cosmetics. Historically, France has been the main source of foreign direct investment in Senegal, but in recent years, China has also become a significant investor in the country.
45. Djibouti
Total GDP (in billions): $3.5
GDP Per Capita: $3,150
5 Year CAGR: 4.7%
Djibouti is a small country in the Horn of Africa with a small and underdeveloped economy. Djibouti's land is quite arid which makes farming very difficult and with a lack of industrialization, there aren't many other opportunities for sustenance. Djibouti has a number of ports that are an important contributor to the economy, with the port of Doraleh being a major regional hub for trade.
44. Bhutan
Total GDP (in billions): $2.5
GDP Per Capita: $3,266
5 Year CAGR: 0.7%
Bhutan is a small, landlocked country in South Asia with a small and underdeveloped economy. Bhutan's poverty is caused by the country not having many natural resources. Bhutan has a number of hydroelectric power plants that are an important contributor to the economy, with the country exporting a significant amount of electricity to India (see 20 countries that produce the most electricity).
43. Timor-Leste
Total GDP (in billions): $3.6
GDP Per Capita: $2,741
5 Year CAGR: 17.8%
Timor-Leste (also known as East Timor) is a small, developing country in Southeast Asia with a small and underdeveloped economy. Timor-Leste has really uneven terrain, because of which farming and water-gathering are both quite difficult in a country where most of the people are dependent on agriculture. Timor-Leste has a number of oil and gas reserves that are an important contributor to the economy, with the country exporting a significant amount of oil and gas to other countries.
42. Nicaragua
Total GDP (in billions): $14
GDP Per Capita: $2,046
5 Year CAGR: 0.3%
Nicaragua is the second poorest country in the Western hemisphere and relies on the US for two thirds of its exports. Nicaragua is a significant exporter of coffee to the United States, with the country exporting a variety of coffee including specialty coffee, organic coffee, and fair trade coffee (see 12 countries that produce the best coffee). Nicaragua also exports a wide range of fresh and frozen fruits and vegetables to the United States, including bananas, pineapples, avocados, and beans. Political instability, conflicts and inequality between urban and rural areas have all contributed to poverty in Nicaragua.
41. Myanmar
Total GDP (in billions): $65.1
GDP Per Capita: $1,210
5 Year CAGR: 1.2%
Myanmar (also known as Burma) is a country in Southeast Asia. Myanmar is one of the poorest countries in the world and the ethnic cleansing of Rohingya Muslims followed by a coup by one of the most brutal armies in the world means that there is very little likelihood that things will improve in the near future. Myanmar's main exports are petroleum gas, rice, textiles, and refined copper. China is Myanmar's main trading partner.
40. Ethiopia
Total GDP (in billions): $111.3
GDP Per Capita: $925
5 Year CAGR: 6.4%
Ethiopia is a landlocked country in East Africa with a large and underdeveloped economy. Ethiopia is one of the countries where colonization has been a major contributor to the place where it finds itself right now. Agriculture is a significant contributor to the economy of Ethiopia, with crops such as coffee, teff, and oilseeds being important exports.
39. Cabo Verde
Total GDP (in billions): $1.9
GDP Per Capita: $3,293
5 Year CAGR: 1.8%
Cabo Verde (also known as Cape Verde) is a small, island nation in the Atlantic Ocean with a small and underdeveloped economy. Since 1990, Cabo Verde has experienced significant economic growth, largely due to the rapid expansion of tourism, which accounts for 25% of the country's GDP. Tourism is an increasingly important sector of the economy in Cabo Verde, with the country's stunning beaches, cultural attractions, and rich history attracting visitors from around the world.
38. Cambodia
Total GDP (in billions): $27
GDP Per Capita: $1,625
5 Year CAGR: 4.0%
Cambodia is a country in Southeast Asia. Cambodia's economy has grown at an average annual rate of 7.7% between 1998 and 2019, making it one of the fastest-growing economies in the world. This growth has been driven by exports of garments and an increase in tourism. 18% of Cambodians live below the poverty line.
37. Mauritania
Total GDP (in billions): $10
GDP Per Capita: $2,166
5 Year CAGR: 8.0%
Mauritania is a predominantly desert country (75% of the country is the Sahara Desert), with very little arable land (only 0.5% of the total land area) and large areas of pastoral land. Mauritania has a number of natural resources, including iron ore, gypsum, and oil, and these resources are a significant contributor to the country's economy. Mauritania's especially hydrocarbon sector has potential for growth. U.S. energy company Kosmos Energy discovered a large deposit of natural gas off the coast of Mauritania and Senegal in 2014.
36. Micronesia
Total GDP (in billions): $0.4
GDP Per Capita: $3,571
5 Year CAGR: 2.0%
Federated States of Micronesia is a country in the Pacific Ocean with a small and underdeveloped economy. The Federated States of Micronesia's economy is primarily based on subsistence agriculture and fishing. The country lacks valuable mineral deposits, with the exception of high-grade phosphate. Micronesia is one of several Pacific islands where the governments do not properly spend funds received in aid, thereby exacerbating poverty instead of eradicating it.
35. Tanzania
Total GDP (in billions): $67.8
GDP Per Capita: $1,099
5 Year CAGR: 4.9%
Tanzania is a country in East Africa with a large and underdeveloped economy. Tanzania has failed to improve its agricultural productivity over the past few decades which is why it is still among the poorest countries in the world. Nevertheless, Tanzania has experienced significant economic development in recent years, which has been fueled by its diverse natural resources and growing tourism industry.
34. Vanuatu
Total GDP (in billions): $1.0
GDP Per Capita: $2,997
Year CAGR: 1.7%
Vanuatu is a small, island nation in the Pacific Ocean with a small and underdeveloped economy. The top three industries are agriculture, fishing, and tourism. Rural areas in Vanuatu have very limited infrastructure while the country's food security is also under threat from climate change.
33. Nepal
Total GDP (in billions): $36.3
GDP Per Capita: $1,208
5 Year CAGR: 4.6%
Nepal is a landlocked country in South Asia with a large and underdeveloped economy. Nepal's economic growth has been slower compared to many of its neighboring countries due to a history of political instability. Despite Nepal charging thousands of dollars to hundreds of climbers each year who want to climb Mount Everest, its location means that the development of infrastructure is more difficult while the country also needs to make more advances in agricultural technology.
32. Solomon Islands
Total GDP (in billions): $1.6
GDP Per Capita: $2,305
5 Year CAGR: 2.1%
The Solomon Islands are a group of islands in the Pacific Ocean with a small and underdeveloped economy. Solomon Islands has been considered among the poorest countries in the world due to political unrest, natural disasters and a lack of access to education. More than three quarters of the labor force in this island nation is engaged in subsistence farming and fishing.
31. Benin
Total GDP (in billions): $17.1
GDP Per Capita: $1,319
5 Year CAGR: 6.2%
Benin is a country located in West Africa, bordered by Togo to the west, Nigeria to the east, and Burkina Faso and Niger to the north. It is situated on the coast of the Gulf of Guinea and has an area of approximately 112,620 square kilometers. The capital of Benin is Porto-Novo, but the largest city is Cotonou. Benin is a former French colony and is home to a diverse population with a rich cultural heritage. Around half of Benin's population is employed in the agriculture sector which is quite vulnerable. However, its GDP improvement shows that the country is on track to improve. In 2021, the economy of Benin experienced a strong recovery argely driven by the services and construction sectors, with an estimated growth rate of 7.2%.
30. Uganda
Total GDP (in billions): $40.5
GDP Per Capita: $884
5 Year CAGR: 5.7%
Uganda is a landlocked country located in East Africa, bordered by Kenya to the east, South Sudan to the north, the Democratic Republic of Congo to the west, and Rwanda and Tanzania to the south. It has an area of approximately 236,040 square kilometers. The capital of Uganda is Kampala, which is also the largest city in the country. Uganda is home to a really complex land system which has resulted in uneven land distribution and unequal spread of resources. Uganda is a significant producer of coffee, with the country exporting a variety of coffee beans to countries around the world.
29. Zambia
Total GDP (in billions): $22.1
GDP Per Capita: $1,137
5 Year CAGR: -3.1%
Zambia is a landlocked country located in Southern Africa, bordered by Angola to the west, the Democratic Republic of Congo to the north, Tanzania to the north-east, Malawi to the east, Mozambique to the south-east, Zimbabwe to the south, and Botswana to the south-west. The country has been mired in major external debt which is a significant reason behind its poverty. One of the main factors contributing to Zambia's debt problem is the country's reliance on borrowing to finance its development projects and infrastructure. This has led to a large increase in the country's external debt, which has put pressure on the government's ability to pay its debts and meet its financial obligations. In addition, the country has faced economic challenges, including a decline in the prices of its main exports and a slowdown in economic growth, which have made it more difficult for the government to repay its debts.
28. Sao Tome and Principe
Total GDP (in billions): $0.5
GDP Per Capita: $2,361
5 Year CAGR: 7.0%
S?o Tomé and Príncipe is a small island nation located in Central Africa, off the coast of Gabon. It is made up of two main islands, S?o Tomé and Príncipe, and a number of smaller islets. The country has an area of approximately 1,001 square kilometers and is home to a population of around 200,000 people. The capital of S?o Tomé and Príncipe is S?o Tomé, which is also the largest city in the country. Sao Tome and Principe does not possess many assets or even means of production, which is why average income is quite low in the country. The country's main export is cocoa.
27. Guinea
Total GDP (in billions): $16.1
GDP Per Capita: $1,189
5 Year CAGR: 9.3%
Guinea is a country located in West Africa. It is bordered by Guinea-Bissau to the northwest, Senegal to the north, Mali to the northeast, Ivory Coast to the east, and Liberia and Sierra Leone to the south. The capital city of Guinea is Conakry. The country has a diverse economy, with significant contributions from the mining sector, agriculture, and the service sector.
Guinea has significant reserves of minerals, including bauxite, iron ore, and gold, and the mining sector has been a major contributor to the country's economic growth. In recent years, the government has implemented a number of reforms aimed at improving the business environment and attracting foreign investment, which have helped to drive economic growth.
However, Guinea still faces a number of challenges, including limited infrastructure, political instability, and a lack of access to credit for many businesses. In addition, the country has a high poverty rate, with more than half of the population living below the poverty line. Improving the economic prospects of the country's poorest citizens will require further efforts to address these challenges.
26. Sudan
Total GDP (in billions): $34.3
GDP Per Capita: $752
5 Year CAGR: -23.3%
Sudan is a country located in North Africa. It is bordered by Egypt to the north, the Red Sea to the northeast, Eritrea and Ethiopia to the east, South Sudan to the south, the Central African Republic to the southwest, Chad to the west, and Libya to the northwest. The capital city of Sudan is Khartoum. Sudan has the worst CAGR of any country in the world based on our calculations. In recent years, the country has faced significant economic challenges, including high inflation, a large trade deficit, and a shortage of foreign exchange.
Following the ouster of former President Omar al-Bashir in 2019 and the establishment of a transitional government, Sudan has been working to implement economic reforms and secure international support to help stabilize the economy. In 2020, the International Monetary Fund (IMF) approved a three-year extended arrangement under the Extended Fund Facility for Sudan, which aims to support the country's economic reform program and help it address its external imbalances.
Sudan has also been working to improve relations with its neighbors and regional organizations, which could help to boost trade and investment and contribute to economic growth. However, the country still faces significant challenges, including ongoing conflicts and political instability, which could hinder its economic development.
25. Burkina Faso
Total GDP (in billions): $19.7
GDP Per Capita: $893
5 Year CAGR: 6.9%
Burkina Faso is a country located in West Africa. It is bordered by Niger to the east, Benin to the southeast, Togo and Ghana to the south, C?te d'Ivoire to the southwest, Mali to the northwest, and Senegal and Mauritania to the west. The capital city of Burkina Faso is Ouagadougou. Burkina Faso is a low-income, landlocked country with a largely agrarian economy. Agriculture accounts for a significant share of the country's Gross Domestic Product (GDP) and employs a large proportion of the labor force. Cotton, livestock, and gold are among the country's major exports. Burkina Faso also has some deposits of manganese, limestone, and marble.
Over the past decade, Burkina Faso has experienced relatively strong economic growth, with an average annual GDP growth rate of nearly 7%. This growth has been driven in part by the country's mining sector and by favorable weather conditions that have supported agriculture. However, the country's economic growth has not been evenly distributed, and poverty remains a significant challenge, with more than half of the population living below the poverty line. A lack of rural productivity and a growing population means that the country has struggled to provide the majority of its population with sufficient resources.
24. Democratic Republic of Congo
Total GDP (in billions): $55.4
GDP Per Capita: $577
5 Year CAGR: 7.8%
The Democratic Republic of Congo (DRC) has large deposits of gold, cobalt, and high-grade copper. Cobalt, a crucial component in the production of electric vehicles, gives the DRC a strategic advantage in the shift towards renewable energy. In 2020, the DRC was the leading global producer of cobalt, with a output of 95,000 tons, or about 41% of the world's total cobalt production. In 2021, nearly 64% of Congolese lived on less than $1.25 a day, which signifies how much the population is suffering. On the positive side, it has posted one of the highest CAGRs among any countries, and could be ripe for investment.
23. Kyrgyz Republic
Total GDP (in billions): $8.5
GDP Per Capita: $1,277
5 Year CAGR: 2.1%
The Kyrgyz Republic, also known as Kyrgyzstan, is a country located in Central Asia. It is bordered by Kazakhstan to the north, China to the east, Tajikistan to the south, and Uzbekistan to the west. The capital city of Kyrgyzstan is Bishkek. Two-thirds of the population of Kyrgyz Republic live in rural areas and while the country is dependent on agriculture, many do not even have agricultural education which could help improve its income per capita. The country is heavily dependent on exports of minerals, particularly gold, and on remittances from Kyrgyz citizens working abroad. The country also has a significant agricultural sector, with livestock and grain being the main products.
22. Mali
Total GDP (in billions): $19.1
GDP Per Capita: $874
5 Year CAGR: 4.5%
Mali is a country located in West Africa. It is bordered by Algeria to the north, Niger to the east, Burkina Faso and C?te d'Ivoire to the south, Guinea to the southwest, and Senegal and Mauritania to the west. The capital city of Mali is Bamako. Mali needs to really work on improving its educational infrastructure which is extremely poor. The average daily wage in the country is $1.25 per day. Agriculture, including crops such as millet, rice, and maize, as well as livestock and forestry, accounts for a significant share of the country's Gross Domestic Product (GDP) and employs a large proportion of the labor force. Mali also has some mineral resources, including gold, phosphates, and limestone.
21. Yemen
Total GDP (in billions): $21.6
GDP Per Capita: $702
5 Year CAGR: -4.2%
Yemen is a country located in the Middle East, on the southwestern tip of the Arabian Peninsula. It is bordered by Saudi Arabia to the north, Oman to the east, the Arabian Sea to the south, and the Gulf of Aden to the west. Yemen has experienced significant economic challenges in recent years due to ongoing conflict and political instability. The country has been embroiled in a civil war since 2015, which has severely damaged infrastructure, disrupted trade and agriculture, and led to widespread shortages of food, water, and other basic necessities. As a result, the country's economy has contracted significantly, and the poverty rate has increased dramatically.
Yemen is home to one of the biggest malnutrition crises in the world right now, due to a lack of resources which makes it difficult to impossible for many in the country to afford even basic necessities. The International Monetary Fund (IMF) estimates that Yemen's economy contracted by approximately 50% between 2014 and 2020, and that the poverty rate rose from 52% in 2014 to 78% in 2020. The IMF has also warned that the economic and humanitarian crisis in Yemen could deepen further unless a resolution to the conflict is reached.
20. Comoros
Total GDP (in billions): $1.3
GDP Per Capita: $1,577
5 Year CAGR: 3.8%
The Comoros is a country located in the Indian Ocean, off the eastern coast of Africa. It is made up of four main islands and several smaller ones, and is situated between Mozambique and Madagascar. The capital city of the Comoros is Moroni. The economy of Comoros is dependent on agriculture and fishing, with a fast-increasing population and lack of infrastructure contributing to it being one of the poorest countries in the world.
19. Togo
Total GDP (in billions): $8.4
GDP Per Capita: $973
5 Year CAGR: 5.6%
Togo is a country located in West Africa. It is bordered by Ghana to the west, Benin to the east, and Burkina Faso to the north. The capital city of Togo is Lomé. Agriculture, including crops such as cassava, maize, and yams, as well as livestock and forestry, accounts for a significant share of the country's Gross Domestic Product (GDP) and employs a large proportion of the labor force. Togo also has some mineral resources, including phosphates, limestone, and marble.
Togo has seen its development be impacted by political instability and external debts, but it has still posted a healthy CAGR over the previous five years. This growth has been supported by increased foreign investment, particularly in the mining and construction sectors, and by improved infrastructure.
18. Tajikistan
Total GDP (in billions): $8.7
GDP Per Capita: $897
5 Year CAGR: 3.0%
Tajikistan is a country located in Central Asia. It is bordered by Kyrgyzstan to the north, China to the east, Afghanistan to the south, and Uzbekistan to the west. The capital city of Tajikistan is Dushanbe. The country's recent economic growth has been supported by increased foreign investment, particularly in the mining and hydroelectric sectors, and by improved infrastructure. Tajikistan also faces a number of other economic challenges, including a large trade deficit, limited infrastructure, and a reliance on a single commodity (aluminum) for a significant share of its export revenue. Civil unrest has been part of the country's history for a while, in addition to government corruption which has stifled its growth potential.
17. Rwanda
Total GDP (in billions): $11.1
GDP Per Capita: $822
5 Year CAGR: 3.7%
Rwanda is a small, landlocked country located in East Africa. It is known for its stunning natural beauty, with rolling hills, lakes, and mountains, and is home to a number of national parks and wildlife reserves.
Rwanda is also known for its efforts to promote peace and reconciliation following the 1994 Rwandan genocide, in which an estimated 800,000 people were killed. The country has made significant progress in rebuilding and reconciling its society, and has been recognized internationally for its efforts to promote gender equality and improve the lives of women and girls.
In recent years, Rwanda has also been recognized for its rapid economic growth and efforts to attract foreign investment. The country has implemented a number of economic reforms and has a business-friendly environment, which has helped to drive growth in sectors such as tourism, manufacturing, and services.
16. Niger
Total GDP (in billions): $14.9
GDP Per Capita: $591
5 Year CAGR: 5.9%
Niger is a landlocked country located in West Africa. It is known for its vast, arid desert landscape and its diverse population, which includes a number of ethnic groups and languages. Niger is also home to a number of important natural resources, including uranium, oil, and gold.
Agriculture accounts for more than 40% of the country's GDP, with over 10 million people in Niger living in extreme poverty. The country has a high poverty rate, with more than three-quarters of the population living below the poverty line, and has been working to address challenges such as food insecurity, limited access to education and healthcare, and inadequate infrastructure.
15. Kiribati
Total GDP (in billions): $0.2
GDP Per Capita: $1,606
5 Year CAGR: 1.9%
Kiribati is a small island nation located in the Pacific Ocean. It is made up of 33 coral atolls and islets, and is located about halfway between Australia and Hawaii. Kiribati is known for its pristine beaches, clear blue waters, and unique cultural traditions.
Kiribati is also known for its vulnerability to the impacts of climate change, particularly sea level rise. The country's low-lying islands are at risk of being inundated by rising seas, which could lead to the displacement of its population and the loss of critical infrastructure. Kiribati has been at the forefront of efforts to address climate change and advocate for the rights of small island developing states.
Kiribati's imports are more than double the level of its exports, which is not a sustainable for a country if it wants to develop in the long term.
14. Chad
Total GDP (in billions): $11.8
GDP Per Capita: $686
5 Year CAGR: 3.3%
Chad is a landlocked country located in Central Africa. Chad is known for its vast oil reserves, which have been a significant source of revenue for the country in recent years. However, Chad has also faced a number of challenges, including political instability, conflict, and a lack of infrastructure. Internal conflict and high levels of corruption has ensured that more than two-thirds of the population living below the poverty line, and has been working to address challenges such as food insecurity, limited access to education and healthcare, and inadequate infrastructure.
13. Mozambique
Total GDP (in billions): $15.8
GDP Per Capita: $492
5 Year CAGR: 3.6%
Mozambique is a country located in Southeast Africa. It is known for its long coastline, which stretches along the Indian Ocean, and its diverse landscape, which includes a number of national parks and wildlife reserves. Mozambique is also home to a number of ethnic groups and languages, and has a rich cultural heritage.
Mozambique is known for its natural resources, including coal, natural gas, and hydroelectric power, which have been a significant source of revenue for the country in recent years. However, Mozambique has also faced a number of challenges, including political instability, conflict, and a lack of infrastructure. The country has a high poverty rate, with more than two-thirds of the country have to live in poverty and even in Sub-Sahara Africa, it is one of the poorest nations.
12. Malawi
Total GDP (in billions): $12.6
GDP Per Capita: $635
5 Year CAGR: 7.1%
Malawi is a low-income, developing country with a largely agrarian economy. Agriculture, including crops such as maize, tobacco, and legumes, as well as livestock and forestry, accounts for a significant share of the country's Gross Domestic Product (GDP) and employs a large proportion of the labor force. Malawi also has some mineral resources, including limestone and uranium. Malawi has one of the highest CAGRs among the poorest countries in the world, which it needs to maintain to sustain its high population growth.
11. Madagascar
Total GDP (in billions): $14.5
GDP Per Capita: $501
5 Year CAGR: 1.9%
Madagascar is an island nation located in the Indian Ocean, off the eastern coast of Africa. It is known for its unique flora and fauna, which includes a number of species found nowhere else in the world. Madagascar, which is dependent on both tourism and agriculture, has seen 90% of its forests disappear in addition to seeing over a fifth of the country burning every year from agricultural fires which has resulted in severe environmental degradation. Madagascar has some mineral resources, including coal, oil, and natural gas.
Click to continue reading and see the 10 poorest countries in the world. Suggested articles:
Disclosure: None. 50 poorest countries in the world is originally published at Insider Monkey.