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These are now the poorest countries in the world

More than 721 million people in the world currently live in extreme poverty, as defined by the World Bank, with a maximum of $1.90 per day (less than $700 per day). Although the rate has improved in recent years, it still represents more than 9 percent of the Earth’s total population. Recent analysis research on the poorest countries in the world.

This extreme poverty is usually concentrated in relatively low-income countries. The usual measure of this is Gross National Income (GNI), which shows how much income a country’s residents and businesses generate in a given year.

The country ranking is easy to explain if we look at the fact that in 2019 there were 7.8 billion people on Earth who generated a total income of $134.6 trillion – the latest available global figure. Worldwide, its per capita GNI is $17,535.

The United States, the world’s largest economy, has a per capita GNI of $66,060, making the United States the tenth richest country in the world. However, at the other end of the list are 27 countries with per capita GNI of less than $3,000—not even $1,000 in two states.

Most of the countries included in the list of the poorest countries are located in Africa. There are historical reasons for this, but the important economic factor is that although many countries are rich in valuable raw materials, the income generated by them enriches only a narrow group of elites. That is, a large group of societies do not benefit at all from the income they produce.

The 24/7 Wall Street The world’s poorest countries were compiled based on World Bank data (in US dollars). We present the five farms at the end of the list.

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5. Niger

Niger’s per capita GNI is $1,210, making it the fifth poorest country in the world. More than 80 percent of the population lives in rural areas, which means that agriculture is the engine of the country. Niger’s GDP in 2020 was $13.7 billion, 37.8 percent of which came from agriculture. This was only 3.5 percent of the global economy as a whole.

More than 80 percent of Nigeria’s population lives in rural areasSource: Agence France-Presse / Christina Doyla

In a country of 24.2 million people, the average life expectancy is currently 62.4 years and many of them do not have access to proper education, infrastructure, and health care. This is evidenced by the fact that only 35 percent of the population over the age of 15 is literate and 19 percent of the population does not have access to electricity.

4. Democratic Republic of the Congo

The vast central African country has a population of 89.6 million and a per capita GNI of just $1,100. Corruption is one of the biggest problems plaguing the country’s economy, which hampers development significantly.

In many African countries, an opaque political environment and severe corruption are hampering development opportunitiesSource: Agence France-Presse / Samir Tounsi

The GDP of the Democratic Republic of the Congo in 2020 was $49.9 billion. Because many do not have access to adequate health care in the country, the average life expectancy is only 60.7 years.

3. Central African Republic

The third poorest country in the world is the Central African Republic, with a per capita GNI of just over $1,000 (exactly $1,040). Opportunities for education and economic development in the country are very limited, and Only 37.4 percent of the population over the age of 15 is literate. In addition, only 14.3% of the total population has access to electricity.

The Central African Republic has the lowest life expectancy in the worldSource: Getty Images / 2021 Getty Images / Siegfried Modola

The problem of the state is the same as the problem of poor countries. However, the Central African Republic has the lowest life expectancy in the world at 53.3 years. With this said, life expectancy in the state is about 20 years lower than the global average. The state has a total population of 4.8 million, and its GDP was just $2.3 billion in 2020.

2. Somalia

Somalia is one of two countries on the global list of 193 countries with a per capita GNI of less than $1,000 – only $870. The country’s suffering is well illustrated by the fact that more than two-thirds of Somalia’s population lives on less than $1.90 a day.

More than two-thirds of the Somali population lives on less than $1.90 a daySource: Anadolu Agency via Getty Images / 2020 Anadolu Agency / Anadolu Agency

Political instability and corruption are serious problems in a country of 15.9 million people, with a life expectancy of only 57.4 years. By the way, the country has not had a functioning central government for decades. Somalia’s GDP was $4.9 billion in 2020.

1. Burundi

Burundi in East Africa is the poorest country in the world, with a per capita GNI of only $780. That’s just a fraction of the $17,535 in global GNI per capita.

It is common in rich countries for GDP to come from exports (the world average here is 29.5 percent), However, for Burundi, the rate is only 5 percent, the lowest in the world. The country has a population of 11.9 million, of which more than 86 percent live in rural areas – the second highest rate in the world. Average life expectancy is 61.6 years.

Burundi is the poorest country in the worldSource: Rei-artur, CC BY-SA 3.0 – Wikimedia Commons

28.5 percent of Burundi’s GDP in 2020, 28.5 percent, came from agriculture, far exceeding the global 3.5 percent.