Introduction: What are the world’s poorest countries and how are they affecting the world economy?
The world’s poorest countries are the countries with the lowest GDP per capita, where people are running out of food and basic necessities. This is an issue that affects all of the world and has a direct impact on the economy.
The most recent figures from 2018 put estimates of the number of people living in poverty at 1.9 billion, or over 30 per cent of the global population. People living in poverty live on less than $5/day and have a very limited access to resources such as clean water and healthcare.
The effects these poor countries have on the world economy can be seen in many different ways, but one way it is seen is through migration patterns. Poor countries have high rates of emigration because they can’t provide for their people or their children are dying due to lack of resources
Poor countries have high rates of emigration because they are struggling to compete with developed ones on a global scale. This emigration puts pressure on developing countries and leads to the drain of skilled labor and resources.
The Top 8 Poorest Countries In The World Today
The Global Economy is a complex system that has many players, and it’s based on the idea of exchange. What are those countries that are considered to be the poorest in the world?
The 8 poorest countries in the world today are Afghanistan, Democratic Republic of Congo, Ethiopia, Niger, Mali, Liberia and Yemen. These countries have caused a global economic slump with their slow economic growth rates and lack of development opportunities.
What Are The Most Poorer Countries In The World?
The countries in the list of the poorest countries are ranked according to GDP per capita.
The list includes:
– South Sudan
– Central African Republic
– Burundi
– Zimbabwe
– Yemen
– Rwanda
Here are some of the Countries Where Average Person’s Annual Salary is Less than $1,000
Despite the high penalties being imposed on citizens that try to skirt these restrictions, many people are still flouting the law.
The Global Income Poverty Line is $3.20 a day, which is the minimum amount that would enable a person to afford food, clothing and other basic necessities of life.
The World Bank has calculated the average annual salary of a person in every country in 2018. Countries with an average annual salary less than $1,000 include Liberia ($864), Syria ($848), Sierra Leone ($811) and Guatemala ($770).
Bangladesh – $532
Bangladesh is situated in the southeastern region of South Asia, bordering India and Myanmar. It is home to thousands of islands and approximately 150 ethnic groups.
Bangladesh is a poor country with a GDP per capita of $1474. Burundi is a small Central African country, with an economy primarily based on agriculture and mining.
The GDP per capita in Bangladesh was $532 while that in Burundi was $637. The reason for this difference between the two countries is due to various factors such as the access to natural resources and economic infrastructure which are different in both countries, most notably the use of electricity as well as transportation networks which are also different in both countries.
Lesotho-South Africa -$743 (includes South Africa)
This is the best example of a country that has seen a decline in its economy. In 2009, South Africa and Lesotho’s economies had similar GDPs at $3 trillion. Today, the GDP of South Africa is $1.6 trillion while the GDP of Lesotho is $743 billion.
But despite this deep economic slump, there are some industries in Lesotho that have grown significantly – such as tourism and agriculture. This can be attributed to how much the country relies on foreign direct investment for its development but also to how landlocked it is – barring export-oriented crops or resource extraction industries like mining or timber harvesting, farming is the only option for a stable income.
Since tourism has been one of these few sectors to grow since 2009, it has benefited from growth
Mali-Burkina Faso-Guinea Bissau-Guinea Equatorial Guinea-Liberia-Niger-Rwanda-Sierra Leone (all combined)-$3,807 (combined)
The World Bank have released a report on the least developed countries in the world. The report takes into account a number of variables, including economic output, health, education and labor force participation.
The least developed countries in the world are Mali-Burkina Faso-Guinea Bissau-Guinea Equatorial Guinea-Liberia-Niger-Rwanda-Sierra Leone (all combined)-$3,807 (combined). Sierra Leone was the only country to be ranked as worse off than Afghanistan.
Neglected tropical diseases are widespread among these less developed countries and together they account for over 80% of global deaths from neglected tropical diseases every year.
Conclusion on poorest countries in the world
In the end, we see that there are some countries with a lot of poverty, but also some other countries that have a more difficult time with poverty than others.
In conclusion, it is hard to say where the poorest country in the world is because of the many different factors that contribute to how poor someone is.