Take a look at the below list of Top 10 Poorest Countries In The World based on per capita income 2017. Different countries in the world have different economies. This variation is caused by a number of factors. For example, a poor country is said to be so because of high rate of unemployment, illiteracy, lack of enough natural resources, poor leadership and more. Poor countries heavily depend on foreign aid from developed nations with stable economies. We are going to look st some of the poorest countries based on per capita income.Per capita income is the average income earned by every person in a given country in a specified year.It is an important parameter that is mainly used to measure economic development of a country. Here are the poorest countries in the world 2017.
List of Top 10 Poorest Countries In The World 2017
This is an Arab country located in the Asian continent. It has an area of 650,000km2. In terms of population, it is ranked at number 42 in the whole world. The country has been experiencing war in the last 30 years. This has greatly crippled its economy despite availability of valuable minerals. Frequent war has also hindered foreign investment. 35% of its citizens live below poverty line. 42% of the population live on less than $1 per day. It has per capita income of $1,100.
Niger is a landlocked country located in western Africa. It covers a large area of land. This makes it one of the largest countries in Africa. It is a developing country.Majority of the Niger population live in rural areas. Drought and famine have negatively affected its economic growth.It has 28.7% rate of illiteracy. According to statistics, it has the highest mortality rate in the world. The health sector is poor with only few nurses and doctors. Its per capita income stands at $771.
Burundi is a small country located in East Africa region. Civil war has paralysed many activities in the country. It has also discouraged foreign investors. It is regarded as the hungriest world in the world. Famine and food shortage are prevalent in Burundi. Political instability is also a major problem. The country has not enjoyed peace since independence. Despite the country having agriculture potential, many children face the problem of malnutrition. Lack of education, poor legal system, HIV/AIDs pandemic are some of the factors that have led to poverty in Burundi. Its per capita stands at $625.
Zimbabwe is an African country located in southern part of the continent. Its economy heavily relies on Agriculture, mining and tourism. It has one of the biggest diamond fields in the world-Marange.Diamond is the main mineral export. The country boasts of one of the biggest waterfall in the world– Victoria falls. It attracts thousands of tourists from different parts of the world. It has high mortality rate of 93 per 1000 births. Despite its high literacy rate, high rate of inflation has adversely affected the economy of Zimbabwe. It has one of the worst performing currency in the world. Its Per capita income is $585.
Eritrea is an African country located in the northern part of the continent. It borders the Red Sea. It has an area of 117,600km2. The country mainly exports gold, silver and cement. Its economy is still developing but at a slow rate. It has per capita income of $546.
It is also referred to as Malagasy Republic. It is the biggest island in Africa and 4th in the world. It is found in the Indian ocean. It is regarded as home to flora and fauna because 90% of plant and animal species are found here.
Natural disasters such as tropical cyclones frequently occur, killing people and destroying property. This negatively affects the economy. Frequent storms render many people homeless. Deforestation has become rampant due to increase in population. It has per capita income of $500.
Liberia is a small country located in West Africa. It covers an area of 111,369km2. Its economy heavily relies on foreign investment. It also exports iron ore, timber and rubber. It has 60% literacy rate and education is compulsory. The major stumbling block to economic development in Liberia is diseases. Ebola has attacked and killed many people. The country does not have enough health personnel. On top of that 20% of children suffer from malnutrition. It has per capita income of $436. This is one of the poorest countries in the world 2017.
3. Central African Republic
It is a landlocked country found in the central part of Africa. Diamond is the main export. It has a low population but the government cannot excellently serve its citizens because of poor economy. 50% of adult population is illiterate. This has also hampered economic growth. Its per capita income stands at $300.
Malawi is a poor country located in the southern part of Africa continent. It covers an area of 118,000km2. Malawi has high mortality rate. Quite a number of its citizens are affected by HIV/AIDS. This has reduced labour in industries. Education system is also poor while the rate of illiteracy is high. Its economy heavily relies on agriculture. It is densely populated yet poor. It has per capita income of $253.
1. Democratic Republic of Congo
It is one of the biggest countries in Africa and 19th most populous in the world.Despite the fact that DRC has many natural resources including minerals and trees, it is still poor due to frequent civil wars. This has hampered economic development.
Investors are not ready to invest in a country where war is the order of the day. A considerable number of children have not received education following civil war that lasted for 6 years. It has per capita income of $236.
The above are the poorest countries in the world 2017 based on per capita income. Most of them have been affected by war. Other factors that have contributed to poverty include illiteracy, unemployment, political instability and more. Governments of the listed countries need to put in place measures to revive and promote the economy of their respective countries.