Top 10 Poorest Countries In The World By GDP Per Capita 2024: Which Are the Poorest Countries In The World? Check List

Top 10 Poorest Countries In The World By GDP Per Capita (PPP) 2024: Which are the poorest countries in the world in terms of the Gross Domestic Product (GDP) per capita - in purchasing power parity terms? Did you know that the estimated GDP per capita (PPP) of the 10th poorest country - Madagascar - is 4 times that of the poorest country in the world, South Sudan? The GDP per capita of the world’s poorest country is just $455 in PPP terms. We take a look at the top 10 poorest countries in the world by GDP per capita in PPP terms as per IMF’s World Economic Outlook April 2024 data sourced from EY: (AI image)

Top 10 poorest countries in the world: South Sudan is the poorest country in the world with a projected GDP per capita of $455.157 in 2024, according to IMF data. In 2011, South Sudan became the world’s youngest country by gaining independence. It is grappling with major economic difficulties. According to the World Bank, more than a decade after gaining independence, South Sudan continues to grapple with fragility, economic stagnation, and instability. Widespread poverty is worsened by ongoing conflict, displacement, and external shocks. (AI image)

Burundi is the second poorest country in the world with a projected GDP per capita (PPP) of $915.879 for 2024 according to the IMF. Burundi, which is a small landlocked nation in East Africa, faces severe socio-economic challenges, compounded by rapid population growth. (AI image)

The Central African Republic is the third most poor country in the world. According to IMF projections for 2024, the Central African Republic’s GDP per capita would be $1,122.641. Located in the heart of Africa, the Central African Republic remains one of the world's most fragile nations despite its wealth of natural resources. (AI image)

The Democratic Republic of the Congo is the fourth poorest country in the world with an IMF projected GDP per capita (PPP) of $1552.343 for 2024. The Democratic Republic of Congo is rich in natural resources, yet according to the World Bank, its population has not reaped the benefits of this wealth. (AI image)

Niger ranks 5th in the list of the poorest countries in the world. According to IMF’s projections for 2024, the GDP per capita for Niger is estimated at around $1,674.659. Niger's economy is poorly diversified, with agriculture accounting for 40% of its GDP, according to the World Bank. (AI image)

Mozambique is the 6th poorest country in the world with an estimated GDP per capita (PPP) of $1,648.555 for 2024, according to the IMF. Approximately two-thirds of Niger's estimated 33 million people (as of 2022) reside and work in rural areas, says the World Bank. (AI image)

Malawi ranks 8th in the list of the world’s top 10 poorest countries. IMF projects that for 2024, the GDP per capita of Malawi is estimated at around $1,711.837. Despite significant economic and structural reforms, Malawi remains one of the poorest countries globally. The economy is heavily reliant on agriculture, employing over 80% of the population, and is particularly susceptible to external, especially climatic shocks, says the World Bank. (AI image)

Liberia, which comes in at the 8th rank in the world’s top 10 poorest countries, is estimated to have a GDP per capita (PPP) of $1,882.432 for 2024, according to IMF data. Liberia's persistent poverty is said to be a result of violent conflicts, including civil wars, and disease outbreaks like Ebola. (AI image)

Yemen, which according to IMF 2023 data ranks at the 11th slot in the world’s poorest countries list, is expected to slip to the 9th rank according to IMF’s 2024 projections with a GDP per capita of $1,996.475. According to the World Bank, Yemen has historically been one of the poorest countries in the Middle East and North Africa. (AI image)

Madagascar, which was the 9th poorest country in the world according to 2023 IMF data, is expected to move up to the 10th rank in 2024. According to IMF’s projections, the GDP per capita of Madagascar is expected to be around $1,979.173 in 2024. Madagascar, the world's fifth-largest island located in the Indian Ocean off southern Africa, boasts abundant natural resources and unparalleled biodiversity. Despite these advantages, its population continues to grapple with a persistently high poverty rate, says the World Bank. (AI image)

Somalia ranks 11th on the list of the world’s poorest countries as per IMF’s 2024 projections. While Somalia ranked on the 10th level in 2023, is expected to rise to the 11th rank in 2024 with a GDP per capita (PPP) of $2,062.174, as per IMF estimates. In Somalia, repeated shocks have diminished households' assets and purchasing power, heightening the risk of increased poverty. In 2022, about 55% of the Somali population lived below the national poverty line, according to the World Bank. (AI image)

Sierra Leone is the 12th poorest country in the world with an estimated GDP per capita (PPP) of $2,188.541 for 2024, as per the IMF World Economic Outlook for April 2024. The economy struggles with high inflation, currency pressures, a high risk of debt distress, and insufficient growth to support poverty reduction, according to the World Bank. (AI image)

Chad is the 13th poorest country in the world with a projected GDP per capita (PPP) of $2,619.766 for 2024, as per the IMF. Chad, a landlocked Sahelian country in central Africa, struggles with widespread poverty and vulnerability, with 42.3% of its population living below the national poverty line, according to the World Bank. (AI image)

Solomon Islands, which is at the 16th rank as per IMF’s 2023 data, is expected to move to 14th rank in 2024. According to IMF projections, Solomon Islands’ GDP per capita (PPP) is estimated at $2,712.614 for 2024. The Solomon Islands is a small and secluded archipelago. According to the World Bank, it faces significant development challenges due to geographic dispersion, remoteness from global markets, and vulnerability to natural calamities. (AI image)

Mali, which currently ranks 14th on the list of the world’s poorest economies, is expected to move to the 15th rank in 2024. According to IMF projections for 2024, Mali’s GDP per capita (PPP) is estimated at $2,714.175. Mali, a vast Sahelian country, has a low-income economy that is poorly diversified and vulnerable to fluctuations in commodity prices, according to the World Bank. (AI image)