10 Poorest Countries in the World 2024 According to IMF Data
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| illustration of GDP, one that determines the country's economic condition. Photo: Getty Images/Khanchit Khirisutchalual |
List of 10 Poorest Countries in the World
1. South Sudan (492.72 US dollars)
2. Burundi (936.42 US dollars)
3. Central African Republic (1,140.00 US dollars)
4. Congo (1,570.00 US dollars)
5. Mozambique (1,650.00 US dollars)
6. Malawi (1,710.00 US dollars)
7. Nigeria (1,730.00 US dollars)
8. Chad (1,860.00 US dollars)
9. Liberia (1,880 US dollars)
10. Madagascar (1,990 US dollars)
- The poorest countries in the world have the lowest Gross Domestic Product (GDP). GDP is the main measure of economic activity in a country, which can increase or decrease.
Quoted from a book entitled Macroeconomic Theory Introduction from Sadono Sukirno, GDP is the value of goods and services produced with original production factors from a country. Including from other countries in the country.
The movement of GDP or GDP is recorded by the UN financial organization the International Monetary Fund (IMF). This list of the poorest countries in the world is updated regularly
List of 10 Poorest Countries in the World
Quoted from the Times of India based on IMF data as of February 21 2024. The data is compiled based on the total GDP per capita produced by a country.
1. South Sudan (492.72 US dollars)
With an exchange rate of 1 US dollar equal to IDR 15,915, this country's GDP is around IDR 7,841,639. South Sudan is the world's youngest and poorest country. This country, which is located in the eastern Africa region, has to face various challenges. For example, conflict, war and limited infrastructure have an impact on low GDP.
2. Burundi (936.42 US dollars)
This country, which is also located in eastern Africa, is the next poorest country on the list. GDP in Burundi is approximately equivalent to IDR 14,903,124.
Burundi has to face political instability, poverty and poor economic conditions which have an impact on low GDP values. These factors certainly have an impact on Burundi's development.
3. Central African Republic (1,140.00 US dollars)
The GDP or GDP value of this country is equivalent to IDR 18,143,100. The Central African Republic (CAR) is also facing political instability. This condition has an impact on hampering the country's economic growth. As a result, the government and citizens of the Central African Republic have to face poverty.
4. Congo (1,570.00 US dollars)
Congo's position as one of the poorest countries in the world in 2024 can be said to be tragic. Because, the Democratic Republic of the Congo (DRC) is known as a country rich in natural resources. The GDP value of the country of Congo is equivalent to IDR 24,986,550. Congo has to face challenges in the form of conflict, corruption and poor government management which have an impact on the country's development.
5. Mozambique (1,650.00 US dollars)
The next poorest country in the world is Mozambique, which is also on the African continent. Mozambique only has a GDP of approximately IDR 26,259,750
The country of Mozambique is located in the southeastern part of the African continent. The country has had to face economic instability and natural disasters, which have resulted in poor economic growth.
6. Malawi (1,710.00 US dollars)
The GDP of this country is approximately IDR 26,259,750 which makes it one of the poorest countries in the world. Malawi has to face various problems that hamper economic growth.
Malawi is a country that relies on agriculture for daily living. However, Malawi is experiencing food shortages and is affected by climate change.
7. Nigeria (1,730.00 US dollars)
The Nigerian region is a country that has no borders by sea (landlocked). Nigeria is surrounded by deserts and other countries, so it tends to be dry and hot. These conditions result in Nigeria having to face low agricultural land productivity. Nigeria's GPD or GDP is roughly equivalent to IDR 27,532,950.
8. Chad (1,860.00 US dollars)
Chad is another country in Africa that has the title of poorest in the world. The total GDP or GDP of one of these oil producing countries is IDR 29,601,900.
This country's low GDP is due to political instability, conflict and dependence on mining products. Revenue from petroleum is not processed into wide-ranging development or progress in other sectors of life.
9. Liberia (1,880 US dollars)
Liberia has to face considerable challenges in the economic field. These challenges include remnants of previous conflicts, weak infrastructure, and dependence on export commodities. Currently, Liberia's GDP is IDR 30,079,350. Liberia must overcome these challenges to increase GDP, which will impact the welfare of citizens.
10. Madagascar (1,990 US dollars)
Madagascar's total GDP or GDP is equivalent to IDR 31,670,850. Like Congo, this country is actually rich in biological and non-biological natural resources.
Unfortunately, this wealth is not managed well for the welfare of the people. Madagascar faces poverty, political instability, and environmental degradation which results in low GDP.
Apart from the 10 poorest countries in the world, there are still several other countries that have very low GDP or GDP. These countries include Sierra Leone, Kiribati and Solomon Islands.