Many factors affect the growth and prosperity of different countries in the world. Many of the big whales in the world rely on the manufacturing industry to grow their economy. Whereas many of the poorest countries in the world most rely on agriculture and barely have the right infrastructure to grow their economy.
What do GDP and GNI stand for? The term GDP short for Gross Domestic Product, whereas GNI short for Gross National Income. Some of the poorest countries in the world 2020 have a gross national income per capita that is less than $1000. Here is a look at the 2020 ranking.
25 poorest countries in the world
The following is a list of the top poorest countries in the world per capita:
With a GNI per capita of $689, Burundi tops the poorest countries in the world list. The GDP is as of 2018 was $3.1 billion, which is a reduction from $8.38 billion in 2017.
2. Central African Republic
The second poorest country in Africa and the world is the Central African Republic. The nation's GDP in 2018 was at $2.4 billion, and its gross national income per capita was at $756.
3. The Democratic Republic of the Congo
The Democratic Republic of Congo is one of the countries that is affected by civil wars, which have greatly affected the growth of the nation, which is rich in good soil and numerous precious minerals. The nation's GNI per capita is $800, with its GDP standing at $47.2 billion by 2018.
Niger has a GDP of $9.2 billion and a GNI per capita of $901. The nation is ranked among the poorest countries yet it has one of the largest deposits of Uranium worldwide.
Fourteen years of civil war that ravaged the nation until 2003 destroyed a lot of the country's infrastructure. The nation is among the poorest in Africa with a gross income per capita of $1,040, and the 2018 GDP was at $3.2 billion.
The lack of food security and diseases are among the reasons that the poverty levels of Malawi are so high. The nation’s 2018 gross domestic product was $7.1 billion and the GNI per capita at $1,149.
Mozambique has a population estimated at 29.5 million. Its gross national income per capita stands at $1,154, while the 2018 gross domestic product was at $14.5 billion.
The island country is known to be home for a distinctive species of primates known as lemurs. The nation’s GDP stood at $12.1 billion in 2018, whereas the GNI per capita was at $1,339.
9. Sierra Leone
It is one of the few countries with diamonds and rare minerals; however, it has seen gruesome years of civil war and corruption. This has majorly hindered the growth of Sierra Leone with the nation’s GNI per capita being $1,360, whereas the GDP standing at $12.177 billion in 2018.
Togo has the fourth-largest phosphate deposit worldwide and is home to the famous football player, Emmanuel Adebayor. The gross national income in 2018 per capita was $1,593, while the GDP was $14.919 billion.
Fish, agriculture, groundnuts, and cashew nuts are Guinea-Bissau’s main exports, this being more than 90%. The 2018 gross domestic product was at $3.391 billion and the GNI per capita was at $1,593.
The Caribbean nation is known for its blue waters and coasts. With a population estimated at 11.1 million people, the gross national income per capita is $1,665. The GDP as of 2018 was at $19.979 billion.
13. South Sudan
It is the youngest country in the world after it got its independence from Sudan. Due to the long civil wars that took place, it gave room for very little economic development. South Sudan’s GNI per capita is among the lowest in the world, standing at $1,686.
14. Burkina Faso
Burkina Faso is a landlocked country in the heart of West Africa. It has an estimated 19.8 million population with a GDP of $14.4 billion and a GNI per capita of $1,705.
Chad is home to the second largest lake in Africa. It has an estimated population of 15.5 million people; the 2018 GDP according to the IMF was at $30.320 billion, while the gross national income per capita was at $1,736
Political instability, inconsistent economic management, and climate change have affected the nation. The 2018 GDP for the nation was $27.5 billion and the gross income per capita was at $1,752
Ethiopia is a nation in East Africa. The 2018 gross national income per capita was $1,782, while the GDP was $84.4 billion.
Rwanda has an estimated population of 12.3 million. The 2018 GDP was $9.5 billion whereas the GNI per capita was $1,959.
It is Africa’s 8th largest country, and it's gross national income per capita in 2018 was $1,965, and the GDP stood at $43.329 billion.
Benin’s main export is cotton, with an estimated population of 11.7 million. The gross national income per capita in 2018 was $2,135, while the GDP was $27.546 billion.
Guinea is richly endowed with minerals and metals, such as diamonds and gold; however, it mainly exports bauxite and alumina. The 2018 GDP was $28.524 billion, while the GNI per capita was $2,211.
Comoros is an island nation with an estimated population of 850,688. The GNI per capita in 2018 was $2,515, whereas the GDP stood at $ 1.415 billion.
The key players of Zimbabwe’s economy are tourism, agriculture, minerals, and gold. The nation has an estimated population of 15 million. The GNI per capita was $2661, and the GDP was at $31 billion in 2018.
Tanzania is part of the East African Community with a GNI per capita of $2743, and the GDP as of 2018 was $57.4 billion.
Nepal, with a GDP of $28.8 billion, comes in at the 25th place. With a population of more than 25 million, its GNI per capita is at $2,748.
Frequently asked questions
Many of the poorest countries in the world ranking are the developing countries in Africa. Here are some commonly asked questions:
What are the 10 poorest countries in the world in the world 2020?
- Central African Republic
- Democratic Republic of the Congo
- Sierra Leone
Which is the poorest country in the world?
Burundi currently is the poorest country in the world
What is the richest country in the world 2020?
Qatar is currently the richest country in the world.
Which country has the most poverty?
Matters that pertain to the economic growth of different countries play a major role when it comes to foreign investors. Many investors shy away from some of the poorest countries in the world because of factors such as civil wars that have ravaged a few countries listed here. These poor countries have to work within themselves to figure out what would be the best solutions to matters that plague their nation and its citizens the most.