Current International Dollars: 455 | View South Sudan’s GDP & Economic Data
Since gaining independence in 2011, South Sudan, one of the world's poorest nations, has been plagued by persistent violence. Despite its significant oil reserves, this landlocked country with a population of around 15 million exemplifies the "resource curse." This phenomenon manifests as the abundance of natural resources exacerbating political and social divisions, inequality, corruption, and ongoing conflict.
The majority of South Sudan's people rely on traditional agriculture for their livelihoods. However, frequent violence and severe climate events often disrupt farming activities, hindering both planting and harvesting seasons. Consequently, the nation faces substantial challenges in ensuring food security for its population.
In the current year, it is projected that approximately 9 million people, which accounts for more than 60% of South Sudan's total population, will require urgent humanitarian aid. This dire situation underscores the severe humanitarian crisis gripping the nation, exacerbated by ongoing instability and environmental challenges.
2. Burundi🇧🇮
Current International Dollars: 916 | View Burundi’s GDP & Economic Data
Tiny and landlocked, Burundi faces significant challenges compounded by its lack of natural resources and a tumultuous recent history, including a civil war that spanned from 1993 to 2005. These factors contribute to Burundi being ranked as one of the poorest countries globally.
Approximately 80% of Burundi's population, which totals around 13 million, relies on subsistence agriculture for their livelihoods. However, food insecurity in Burundi is notably high, nearly double the average seen across sub-Saharan African countries. Access to essential services like water and sanitation remains critically low, and electricity reaches less than 5% of the population.
President Evariste Ndayishimiye has embarked on efforts to revitalize the economy and mend international relations. In 2022, both the United States and the European Union resumed aid following the lifting of financial sanctions, signaling a potential turning point. Despite these strides, challenges persist; while economic growth is beginning to recover, inflation remains a pressing concern for the country this year.
3. Central African Republic (CAR)🇨🇫
Current International Dollars: 1,123 | View CAR’s GDP & Economic Data
Despite its abundant reserves of gold, oil, uranium, and diamonds, the Central African Republic (CAR) remains one of the world's poorest nations, a paradox that has persisted for much of the past decade. Since gaining independence from France in 1960, CAR has struggled with instability and poverty, despite its wealth in natural resources.
In a significant milestone, the country achieved its first democratically elected president in 2016. Faustin Archange Touadéra, a former mathematics professor and prime minister, campaigned on a platform of reconciliation, aiming to bridge the religious divide between the Muslim minority and the Christian majority.
While Touadéra's election marked a pivotal moment for CAR's path to national recovery, substantial parts of the country continue to be controlled by anti-government militias. Nonetheless, there have been notable advancements in recent years. Economic growth has shown moderate improvement, driven by the revitalization of the agricultural sector, expansion in the timber industry, and a partial resumption of diamond sales.
Despite persistent challenges and setbacks, including ongoing security issues and political instability, CAR has demonstrated some progress in its efforts toward stability and economic development. The country's journey remains complex, with ongoing efforts needed to fully harness its natural wealth for the benefit of its population.
4. Democratic Republic of the Congo (DRC)🇨🇩
Current International Dollars: 1,552 | View DRC’s GDP & Economic Data
Since achieving independence from Belgium in 1960, the Democratic Republic of Congo (DRC) has endured a turbulent history characterized by oppressive dictatorships, persistent political instability, and widespread violence. As a result, the DRC consistently ranks among the world's poorest nations.
Approximately 65% of the DRC's vast population, estimated at around 100 million people, live on less than $2.15 per day, highlighting widespread poverty and economic challenges. Despite these hardships, the World Bank identifies the DRC as possessing immense natural resources and potential, suggesting it could become one of Africa's wealthiest countries and a key economic driver for the continent.
Currently, the DRC holds significant global stature as the largest producer of cobalt and Africa's primary source of copper, both critical components in the production of electric vehicles. These resources underscore the DRC's strategic importance in global supply chains and its potential to leverage its natural wealth for economic growth.
However, realizing this potential remains hindered by ongoing governance issues, security concerns, and infrastructure deficiencies. Despite these obstacles, the DRC's abundance of natural resources positions it uniquely to play a pivotal role in Africa's economic future, provided it can effectively address its challenges and harness its potential for sustainable development.
5. Mozambique🇲🇿
Current International Dollars: 1,649 | View Mozambique’s GDP & Economic Data
Despite its richness in resources and advantageous location, this former Portuguese colony has faced persistent challenges that have kept it among the world's poorest nations. Over the past decade, it has often achieved impressive average GDP growth rates exceeding 7%. However, severe climate conditions and political instability have hindered sustained development.
Adding to these difficulties, since 2017, attacks by Islamic insurgent groups have further destabilized the gas-rich northern region of the country. Despite these security concerns, the International Monetary Fund (IMF) reports that the economy continues to operate at a robust pace. Growth is anticipated to reach approximately 5% in both 2024 and 2025, with projections suggesting potential for double-digit growth by the latter part of the decade.
This economic resilience underscores the country's potential for substantial development, supported by its resource wealth and favorable economic policies. However, addressing ongoing security challenges and promoting stability will be crucial in realizing sustained and inclusive growth, enabling the country to overcome its persistent status as one of the world's poorest.
6. Niger🇳🇪
Current International Dollars: 1,675 | View Niger’s GDP & Economic Data
It seems like you're interested in the situation in Niger. Here's a revised version:
Niger, with 80% of its landlocked territory covered by the Sahara Desert, faces significant challenges, including desertification threatening agricultural productivity. The population largely depends on small-scale agriculture, contributing to high levels of food insecurity, disease, and mortality rates. Recurrent clashes between the army and the ISIS affiliate Boko Haram have resulted in the displacement of thousands of people.
In 2021, Niger experienced its first democratic transfer of power with the inauguration of Mohamed Bazoum, a former teacher and interior minister, as president. The economy showed promising growth with a 12% expansion in 2022. However, in the summer of 2023, Bazoum was ousted and imprisoned by members of his presidential guard, leading to a military junta assuming power and maintaining control since then.
7. Malawi🇲🇼
Current International Dollars: 1,712 | View Malawi’s GDP & Economic Data
Malawi, one of Africa's smallest nations, relies heavily on rain-fed agriculture, making its economy vulnerable to weather-related shocks. Food insecurity is particularly severe in rural areas.
Since gaining independence from Britain in 1964, Malawi has generally experienced stable governance. However, in 2020, the constitutional court nullified former President Peter Mutharika's electoral victory, citing electoral irregularities. Theologian and politician Lazarus Chakwera assumed the presidency following the court's decision, pledging to foster inclusive prosperity, although structural reforms have been slow to materialize.
Currently, Malawi faces significant economic challenges, including fuel shortages, soaring food prices, and a sharp depreciation of its currency. As of 2023, the World Bank reports that over 70% of the population lives below the international poverty line, highlighting the profound economic crisis gripping the country.
Despite efforts to address these issues, Malawi continues to confront obstacles to sustainable development, requiring concerted efforts to stabilize its economy and improve living conditions for its citizens.
8. Liberia🇱🇷
Current International Dollars: 1882 | View Liberia’s GDP & Economic Data
Liberia, Africa's oldest republic, has long struggled with poverty despite its historical significance. In 2018, expectations soared when former football star George Weah assumed the presidency. However, his tenure was marked by challenges including high inflation, unemployment, and negative economic growth. In 2023, Weah was defeated by opposition leader and former vice-president Joseph Boakai in a new round of elections.
Boakai inherits a challenging economic landscape but with signs of improvement. After experiencing contraction in 2020 and 2021, Liberia's economy rebounded in 2022. Growth is projected to reach approximately 5.3% in 2024 and is expected to remain above 6% in the years ahead.
Despite these optimistic projections, Liberia faces significant hurdles in achieving sustained economic development and improving living standards for its population. The new administration will need to navigate these challenges effectively to capitalize on the potential for growth and prosperity in the country.
9. Madagascar🇲🇬
Current International Dollars: 1,979 | View Madagascar’s GDP & Economic Data
Since gaining independence from France in 1960, Madagascar has been marked by periods of political instability, coups, and contested elections. President Andry Rajoelina, elected in 2019, came into power with promises to combat corruption, alleviate poverty, and spur economic development. However, progress on these fronts has been limited. Madagascar continues to grapple with one of the world's highest poverty rates, estimated at around 75%, coupled with sluggish economic growth and nearly 8% inflation. Despite these challenges, Rajoelina was re-elected in December 2023.
The country has faced a series of unprecedented challenges in recent years. The Covid-19 pandemic exacerbated economic and social difficulties, while the collapse of grain deliveries from Ukraine following the Russian invasion in 2022 led to soaring food prices, worsening conditions for Malagasy citizens. Moreover, Madagascar ranks among the top 10 countries globally most susceptible to climate hazards. Droughts, floods, and cyclones have resulted in fatalities, displacement of populations, and extensive damage to homes, infrastructure, and crops.
Navigating these multifaceted challenges remains critical for Madagascar's future stability and development. Addressing poverty, improving economic resilience, and enhancing climate adaptation strategies are paramount to improving the livelihoods of the Malagasy people and fostering sustainable growth in the island nation.
10. Yemen 🇾🇪
Current International Dollars: 1,996 | View Yemen’s GDP & Economic Data
With a population of approximately 35 million, this nation, among the poorest on the Arabian Peninsula, has been gripped by conflict since late 2014, stemming from a power struggle between the Saudi-backed government and the rebel Houthi movement. This protracted war has exacted a devastating toll, claiming the lives of more than 150,000 people, decimating the economy, and laying waste to essential infrastructure. Consequently, despite its oil wealth, over 80% of the population now lives in poverty. The humanitarian crisis in this country remains severe, exacerbated by ongoing violence and political instability.
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