Poorest Countries in the World today | Which countries makes the top 20 list?

What does it mean to be one of the poorest countries in the world? Does my country count as one of the poorest in the world? Why are these countries so poor and is there hope of any changes in the nearest future? I will be addressing these questions in this write-up.

I don’t think it’s a surprise that 15 out of the 20 poorest countries in the world is located in Africa.

Why are some countries poor?

Poverty is described as a lack of the required income and resources to lead a good life. Poor or low-income countries have a per capita gross national income (GNI) of less than $1026, according to the World Bank.

Some of the countries on this list however have a GNI of more than $1026 but still count as the poorest countries in the world since we are looking at a list.

Around the year 2000, the pre-pandemic universe had made significant headway in halving global poverty. Today, however, the ongoing epidemic has pushed poor countries to a new low in economic inequality, engulfing nearly 8% of the global population in despair, according to UN forecasts of multidimensional poverty index.

Many of the world’s poorer countries are a quagmire of political unrest, with years of internal strife leaving them prone to financial instability.

Furthermore, catastrophic disasters caused by the global climate emergency have imprisoned entire nations in poverty and disease cycles. Learn about the African countries with the best currencies in this article.

Top 20 poorest countries in the world.

#20   Mali – GNI of $2250

Mali, a tiny country located in western Africa, survives mostly through mineral extraction and agricultural exports. Its people have experienced a lot of economic and social upheaval, as well as 31 years of authoritarian rule.

Also, Mali has a population of 20.9 million people.

#19   Gambia – GNI of $2230

Next on the line is the Gambia a Muslim dominated country with over 2.5 million people. Gambia’s source of revenue, which is primarily agricultural, is heavily on remittances and tourism from overseas.

The per capita gross national product (GDP) is $2230.

Any future economic improvement will be contingent on significant bilateral assistance.

Also, the Gambia’s human trafficking problem has not been totally eradicated, and ladies and children are still in serious danger of abduction.

#18   Togo – GNI of $2230

Population: 8.3 million

For the past 50 years, the Togolese inhabitants have been ruled by a single-family. This is largely responsible for the country’s political and civic turmoil and uneasiness, which has manifested itself in the form of riots.

Before the current state of affairs degraded into what it is now, Togo experienced a time of economic stability. Now it has a GNI of $2230 per capita.

Also, many people believe that if young people in poor countries like Togo gain access to the internet and begin to use services from companies like Amazon.com, Twitter, Facebook)awareness will grow and new economic opportunities will emerge.

#17   Burkina Faso – GNI of $2190.

Burkina Faso is a small African nation with few natural resources. Its 21.5 million residents have seen a history of human and natural disasters, ranging from drought to terrorist attacks, and then internal displacement as a result of these attacks.

The present GNI per capita in Burkina Faso is $2190.

This country is also struggling with the Pacific of abduction of women and children.

# 16   Rwanda – GNI of $2160

Population: 13.3 million

Rwanda’s history is haunted with chaos, climaxing in the 1994 genocide that killed 800,000 people, the majority of them were Tutsi.

Some of the most important sources of foreign exchange are tourism, tea, and coffee.

Furthermore, the current administration has opened the way for growth in the field of communications and technology.

Rwanda’s Gross National Income (GNI) per capita is $2160.

#15   Afghanistan  – GNI of $2110

Population: 39.8 million

Afghanistan has a population of 39.8 million people, making it one of just two countries on our list that is not in Africa. The country’s geopolitical status has rendered it defenceless to outside meddling. About 72,000 Afghans have sought refuge in close countries like Pakistan. However, Economic activity has increased marginally since the US invasion in 2001, and the GNI per capita is now $2110.

#14   Guinea-Bissau – GNI of $1980

Guinea-Bissau is a small country with a population of 2 million people on Africa’s western coast, bordering the Atlantic Ocean.

It is home to a diverse range of ethnicities. In the shape of coups and civil wars, the country has had its fair share of political riots.

All of this has contributed to the country’s precarious economic situation, with a GNI per capita of $1980.

#13   Sierra Leone – GNI of $1670

Population: 8.1 million

Sierra Leone is a country in western Africa with an estimated population of 8.1 million people. The people’s major source of wealth is subsistence agriculture. They have no real economic backing hence the small GNI.

#12   Eritrea’s – GNI of $1610

Eritrea fought Ethiopia for 30 years until declaring independence in 1991. Eritrea’s 3.6 million people, much like most African countries, rely on subsistence farming for most of their earnings.

With a small percentage engaging in gold and other resource exploitation.

It has a current per capita GNI of $1,610.

#11   Chad – GNI of $1580

Following Chad’s independence in 1960, the Chadian people were subjected to tyranny and invasion by their neighbours for the next three decades. The country’s population is 17.4 million, with approximately 400,000 Nigerians and Sudanese residents. . Low oil prices have put a strain on Chad’s finances, resulting in a GNI per capita of $1580.

#10   Malawi – GNI of $1540

Malawi is a southern African country with a population of 20.3 million people.

With a GNI per capita of $1540, it is one of the world’s least developed countries.

The El Nino-induced drought of 2015 is responsible for a substantial portion of the country’s economic downturn.

#9   Madagascar – GNI of $1540

Madagascar, a small island in the Indian Ocean with a predominantly youthful population of 28.4 million people, was once a pirate stronghold in the early 18th century. Over the course of its history, it has been ravaged by cyclones and locust infestations. The low GNI per capita of $1540 is due to the dependent population.

#8   Liberia – GNI of $1250

Liberia is a country on Africa’s western coast. Its name comes from the Latin word “liber,” which means “free,” and it is home to 28 different ethnic groups totalling 5.18 million people. It was founded with the idea of providing a home for freed African Americans. After a decade of warfare, the nation’s GNI per capita had decreased to $1250 following an Ebola epidemic in 2015. Ivorian refugees account for roughly 95% of Liberia’s refugee population.

#7   Mozambique – GNI of $1250

Population: 32 million

Mozambique, on South Africa’s eastern coast, was ruled by the Portuguese until 1975.

For more than a century, its 32 million citizens have suffered from catastrophic drought and mass emigration as a result of civil strife.

Also, Mozambique’s GDP per capita is expected to reach $1250 in 2020.

#6   Niger – GNI of $1210

This landlocked African country, named after the Niger River, has a population of 25.1 million people.

Niger’s low GNI per capita of $1210 is due to its geopolitical situation, the rate of disturbance, and spillover effects from neighbouring nations.

Furthermore, Niger is the lowest in the UN Development Programme’s Human Development Index due to a lack of finances to develop its mineral and hydrocarbon resources.

#5   The Democratic Republic of Congo (DRC) – GNI of $1100

Congo is Sub-Saharan Africa’s largest country. It is the world’s most populated Francophone country, with a population of 92.5 million people.

Due to its occasional political conflicts and pervasive corruption, it has a GNI per capita of $1100, making it the fifth poorest country in the world.

#4   South Sudan – GNI of $1080

After decades of civil war, the Republic of South Sudan, a landlocked country in Africa, declared its independence in 2011. It has a population of 11.4 million people.

Due to political upheaval, the country’s GNI per capita has been uncertain since 2015, when it was $1080.

It comes up as data that are “not available” on the World Population sheet.

Also, lack of fiscal accountability in the public sector, particularly with relation to oil income, and persistent political conflicts that encourage immigration of a much-needed workforce are contributing reasons to the country’s struggling economy.

#3   The Central African Republic – GNI of $1040

CAR is one of the worst countries for young people, with an area slightly smaller than Texas and a population of 4.9 million people.

Its current GNI per capita is $1040, owing primarily to AIDS-related high mortality rates among its working population.

Furthermore, the country has yet to recover from the 2013 political coup.

#2   Somalia – GNI of $870

Somalia, with a population of 16.4 million people and a location on the horn of Africa, has had to deal with hunger and drought on a regular basis.

The country’s inadequate infrastructure is a result of its migratory lifestyle, which leave it with a GNI per capita of $870.

#1   Burundi – GNI of $780

Population: 12.2 million

Burundi, a small country with a population of 12.2 million inhabitants in east-central Africa, has experienced a serious amount of political turbulence and volatility.

With a GNI per capita of $780 reported in 2021.

Also, it ranks first among the poorest countries in the world.