Priya Srivastava, TIMESOFINDIA.COM Updated : Jun 16, 2024, 16:10 IST
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10 poorest countries in the world of 2024
Despite living in the year 2024, marked by significant industrial and economic growth, many countries around the world continue to face economic challenges, ranking among the poorest in terms of GDP per capita.
The poorest countries in the world face significant challenges in economic development, healthcare, and infrastructure. They often struggle with high levels of poverty, limited access to education, and inadequate healthcare systems.
Here are 10 of the poorest nations, based on their GDP per capita:
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South Sudan ($492.72)
On number one in the list is South Sudan. The country has been grappling with decades of conflict and is facing a number of economic hurdles, including limited infrastructure and dependence on oil revenues, which are vulnerable to fluctuations in global prices.
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Burundi ($936.42)
Then in the list is the East African nation Burundi. The economy of this country is largely agrarian, with a fai portion of the population engaged in farming. Political instability and ethnic tensions have hindered economic development.
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Central African Republic ($1,140.00)
Central African Republic, despite its immense natural resources, including diamonds and timber, continues to struggle with instability, poverty, and underdevelopment.
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Democratic Republic of the Congo ($1,570.00)
Congo is blessed with natural resources but still is struggling with economic growth. The country ranks among the poorest nations due to decades of conflict, corruption, and mismanagement.
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Mozambique ($1,650.00)
Mozambique also faces economic challenges given factors such as low literacy rates, inadequate infrastructure, and vulnerability to natural disasters. While the country has made progress in recent years, poverty remains widespread, particularly in rural areas.
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Malawi ($1,710.00)
Malawi's economy is heavily dependent on agriculture, with a large portion of the population engaged in subsistence farming. Limited access to education, healthcare, and infrastructure further exacerbates poverty in this landlocked nation.
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Niger ($1,730.00)
Niger is faced with numerous challenges, including food insecurity, low levels of education, and a fragile healthcare system. The economy is predominantly agrarian, with agriculture accounting for a significant portion of GDP.
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Chad ($1,860.00)
Chad's economy is heavily reliant on oil exports, which account for the majority of government revenue. However, poverty remains widespread, exacerbated by factors such as political instability, ethnic tensions, and underdeveloped infrastructure.
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Liberia ($1,880.00)
Liberia is known for being a natural home of iron ore and rubber. The country faces major economic challenges due to the legacy of civil war, corruption, and weak institutions.
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Madagascar ($1,990.00)
Madagascar ranks 10th in the list. The country’s economy is primarily agricultural, with the majority of the population engaged in subsistence farming. Political instability and natural disasters, such as cyclones and droughts, have hindered economic growth and development.
