Poorest Countries In Each Continent in the World

Several countries in the world are facing financial issues, the majority of which are lacking resources, or infrastructure. Some countries in the world are facing financial problems in recent years due to war and other international crises.

The following section includes the poorest country in the world for each of the continents including Africa, Asia, Australia, Europe, North America, and South America.

1. Poorest Country In Africa

South Sudan is the poorest country in Africa.

South Sudan gained independence from Sudan in 2011. The majority of the population depends on farming, with a lesser minority depending on animal husbandry, and approximately 80% of the population lives in rural areas. Since the current crisis began in December 2013, more than 2 million South Sudanese have sought sanctuary in neighboring nations.

• GDP: $3.9 billion
• Population: 11,104,916

2. Poorest Country In Asia

Yemen has the world’s poorest GDP per capita of $2,136, making it the poorest country in Asia.

However, years of ongoing conflict make finding particular economic data for evaluations hard. Yemen’s poverty is caused by the country’s continuous civil war, corruption, and poor economic management. As a result of the civil conflict, an increasing number of Yemenis are living in poverty. Approximately 79% of the population is impoverished, with 65% classified as extremely poor.

• GDP: $21.05 billion
• Population: 34,449,825

3. Poorest Country In Australia

Tasmania, with incomes 26% below the national income and wealth average, is the Poorest Country in Australia.

Tasmanians work fewer hours or do not work at all, earn less, and produce less than those living in other states.

In October 2012, Tasmania’s unemployment rate was 7.7%, compared to the Australian average of 4.9% – a rate of unemployment that was more than a third higher. The Tasmanian economy’s poor performance was a significant subject in local public debate in 2012.

• GDP: AUD 64,408
• Population: 579000

4. Poorest Country In Europe

Ukraine is Europe’s poorest country

Ukraine faces serious economic issues, with a PPP GDP of $6,700. Despite its great potential and abundant resources, the country has faced political insecurity and ongoing conflicts, which have impacted its economic progress. High unemployment rates, poverty, and restricted access to good education and healthcare all contribute to many Ukrainians’ economic difficulties.

• GDP: $160.50 billion
• Population: 37,050,276

5. Poorest Country In North America

Haiti, North America’s poorest country, is experiencing a fast growth in population, which is exceeding the country’s ability to provide for its citizens. It is often seen as the poorest country in the world.

Haiti suffered severe damage from a massive earthquake in January 2010, which was the country’s worst natural disaster in history, and recovery is still ongoing. Slavery, revolution, deforestation, corruption, debt, and war are all issues that have contributed to Haiti’s political instability, poverty, and bad infrastructure.

• GDP: $20.25 billion
• Population: 11,724,763

6. Poorest Country In South America

Venezuela is South America’s poorest country, with a per capita GDP of $3,641. Unfortunately, the country is currently experiencing a severe financial crisis. The crisis has moved beyond unemployment, and bad economic performance is now hurting the basic quality of life of all individuals. According to the UN, 94% of Venezuelans are today poor.

• GDP: $111.81 billion
• Population: 28,838,499

South Sudan is considered one of the poorest countries in the world. It is located in East-Central Africa, has a population of around 12 million people, and covers an estimated area of 644,330 square kilometers. Juba serves as the capital, and the country gained independence from Sudan on July 9, 2011, facing ongoing challenges such as internal conflicts and economic cricis despite its significant oil resources.

Identifying the poorest country in the world demands a deep dive into global economic landscapes. To understand why some countries are really poor, we need to look closely at things like how they handle money, share resources, and trade with other nations. By digging into these details for the top 10 poorest countries in the world, we can uncover the many challenges these countries face, giving us a clearer picture of why their economies are struggling.

In this article, we have covered the list of the top 10 poorest countries in the world, sorted by their GDP(Gross Domestic Product) and PPP(Purchasing Power Parity), economic challenges, and disparities across the globe. We have covered the deep realities of the poorest countries in the world, examining factors such as income inequality, development struggles, and the impact of international aid on these nations’ socioeconomic status.

Let’s get a closer look at these and identify the poorest country in the world based on GDP.