A country can be called rich or poor based on its employment rate, gross domestic product per capita (GDP per capita), literacy rate, purchasing power parity (PPP) and several other parameters. If these stats are high than the country is added to the list of top richest countries all over the world however if the GDP and PPP are low then that particular country falls in the list of top poorest countries in the world.
Here we have prepared a list of Top 10 Most Poorest Countries in the World with regard to their annual income.
Guinea the West African country has population of 10.5 million; having majority of Muslims about 85 percent of total population. In spite of the rich diamonds and gold deposits in the country they still have rather low GDP $523.10, added in the list of poorest country in the world. Ever since their independence from franc Guinea has very low GDP as well as growth rate and are incapable to rebuild their economy to improve the per capita income and economy.
Formally known as the Federal Democratic Republic of Ethiopia, it is situated in the Horn of Africa, inhabiting nearly 88 million people it is also one of the most crowded non-coastal country in the world. The country is also one of the poorest country in the world with a nominal $505.00 per capita income because of high populated region in contrast to its annual earnings which are rather low.
8: The Gambia
Gambia the enclave West Africa country is the smallest one on African land with population of almost 1.8 million and area measuring up to 10,689 square kilometers. Gambia’s per capita income is in the order of $488.60 which is purely based on farming, fishing and tourism. The Gambia is below the international poverty line therefore it is enlisted in top poorest country in the world for extremely low annual income.
7: Democratic Republic of the Congo
The Democratic Republic of the Congo is a Central African country which is also famous as Congo; it is named in the list of poorest country in the world. Their population is more than 77 million. Congo is very affluent in natural resources, however a lack of infrastructure, political instability, corruption and misuse of resources ruined all development in the country as their GDP is about $484.
Madagascar has an projected population of above 22 million rate of poverty can easily be configured by this figure as 90 percent of population is living on less than 2 dollar by day. The main cause of this economic failure and low quality of living is the political crisis which qualified it to in appear the list of top 10 poorest countries in the world with the per capita income of just $463.00. This highly populated nation’s economy is based on agriculture and Ecotourism which improves living standards and also plays a vital role in general economic growth.
Liberia is another poorest country in which around 85 percent population spends their lives below international poverty line with the GDP Per Capita (PPP) at $454.30. The West African country has almost 4 million inhabitants in an area approximately around 111,369 square kilometers. Before two successive civil wars Liberia was a developed country. In recent times, Ebola epidemic has also generated health and economic crisis in Liberia and victimized numerous people.
Republic of Niger is a non-coastal country in Western Africa having a population of around 17 million with majority of population of Muslims. Niger is the largest nation in Africa having 80 percent of area of Sahara Desert. Niger is a low ranked country in Africa where desertification is widespread which went drought. Niger is enrolled in the top poorest countries in the world having a GDP of $415.40 which is not good enough to fulfill the fundamental needs of its people.
3: Central African Republic
The Central African Republic has a range of natural resources and minerals including uranium, crude oil, lumber, gold, diamonds and hydropower however regardless of of all these considerable reserves the country stands amongst the poorest countries in the world. With a GDP of $333.20 Central African Republic has a low economic growth and modest human development.
Burundi is situated in the African Great Lakes which is enlisted as one of the top poorest country in the world with a low GDP of $267.10. The country is suffers from warfare, corruption, political crisis, economic instability and illiteracy which inhibited the growth and development in Burundi.
Malawi is a Southeast African country having a population of 16 million. Malawi is amongst one of the smallest countries in Africa with a low GDP of around $226.50. The country is in our list of top poorest countries in the world because of its low per capita and poor living standards. Malawi has a low life expectancy and very high infant mortality which uncontrolled till now. It is also one of least developed countries in the world.