Based on data gathered from Global Finance magazine, here are the 30 richest and the 20 poorest countries in the world
7. MOZAMBIQUE – Average Annual Income per person: $1,209
In the last decade, Mozambique’s economy has been strengthened by the boost in its construction, transportation and some other sectors of the economy. Unfortunately, this hasn’t done much to combat the presence of widespread poverty among its own people.
6. NIGER – Average Annual Income Per Person: $1,070
Political instability continues to hinder any real progress when it comes to Niger’s economy despite some growth within the agricultural sector in recent years, the country has a very low living standards and economic growth.
5. BURUNDI – Annual Income Per Person: $951
Due to an ongoing political crisis, this African country continues to struggle with low levels of development, widespread poverty and high levels of corruption. This country is also one of the hungriest country of the world and is rising on the global hunger index with every passing year.
4. Liberia – Average annual income per person: $934
Liberia continues to struggle with poverty and corruption following the 1989-2003 civil war that killed over 200,000 people
3. Malawi – Average annual income per person: $820
High inflation, low living standards and strong reliance on donor financing continue to plague Malawi’s economic sector.
Life expectancy is also very low.
2. DR Congo – Annual income per person: $754
Long-running conflicts continually inhibit political, institutional and economic development in this country.
1. CENTRAL AFRICAN REPUBLIC – Average Annual Income Per Person: $640
Sparsely populated and landlocked, the nation is overwhelmingly agrarian. The vast bulk of the population engages in subsistence farming and 55% of the country’s GDP arises from agriculture.
SOURCES:
www.msn.com/en-au/news/photos/the-worlds-richest-and-poorest-countries-of-2016/ss-CCvMuW?index=50
https://www.gfmag.com/global-data/economic-data/the-poorest-countries-in-the-world
