South Sudan has severely limited economic growth and development.
The International Monetary Fund (IMF) has released a report highlighting the world's poorest countries based on GDP per capita adjusted for purchasing power parity (PPP). While GDP is a measure of a country's total economic output, PPP takes into account the cost of living, providing a more accurate picture of living standards, according to The Forbes.
The report paints a stark picture, with South Sudan ranking as the poorest country globally, with a GDP per capita PPP of just $492.72. The world's youngest nation, which gained independence in 2011, faces significant challenges due to political instability, ongoing conflicts, and limited infrastructure.
| Country | GDP Per Capita |
|---|
| 1: South Sudan | $492.72 |
| 2: Burundi | $936.42 |
| 3: Central African Republic (CAR) | $1,140.00 |
| 4: Democratic Republic of the Congo (DRC) | $1,570.00 |
| 5: Mozambique | $1,650.00 |
| 6: Malawi | $1,710.00 |
| 7: Niger | $1,730.00 |
| 8: Chad | $1,860.00 |
| 9: Liberia | $1,880.00 |
| 10: Madagascar | $1,990.00 |
Following South Sudan are Burundi ($936.42), the Central African Republic ($1,140.00), the Democratic Republic of the Congo ($1,570.00), and Mozambique ($1,650.00). These countries share common struggles, including political instability, internal conflicts, inadequate infrastructure, and dependence on rain-fed agriculture, making them vulnerable to climate shocks and food insecurity.
The report also explores the cases of Malawi ($1,710.00), Niger ($1,730.00), Chad ($1,860.00), Liberia ($1,880.00), and Madagascar ($1,990.00). These countries, primarily located in Sub-Saharan Africa, grapple with limited resources, rapid population growth, and heavy reliance on agriculture, leaving them susceptible to poverty.
The report serves as a call to action for the international community to address the root causes of poverty in these nations. Investing in infrastructure, promoting economic diversification, and fostering political stability are crucial steps towards a brighter future for these countries.
In 2024, Yemen emerges as the Asian nation grappling with the most severe economic challenges, exhibiting a GDP per capita estimated at $2,136. However, the accuracy of this figure remains elusive due to persistent conflicts disrupting precise economic assessments.
Conversely, Luxembourg claims the title of the world's wealthiest nation in terms of GDP per capita, boasting a staggering $145,834 in GDP per capita PPP. Meanwhile, India registers a GDP per capita (PPP) of $9.89 thousand as of 2024, reflecting its position within the global economic landscape.