Poverty is a worldwide issue, with over half of the world’s population living below the poverty line. But which countries are the poorest? In this article, we’ll take a look at the top 10 poorest countries by GDP 2021.
GDP: $63.10 Million – Top poorest countries by GDP in 2021
Tulavu is one of the poorest countries in the world, with a GDP per capita of just $1,000. The vast majority of the population lives in poverty, with little access to healthcare, education, or other basic needs. Tulavu is also one of the smallest countries in the world, with a population of just over 1 million people. Another contributing factor to Tulavu’s poverty is its location. The country is situated in a remote corner of the world, making it difficult to trade with other nations. This isolation has led to a decline in the standard of living for many Tulavians.
GDP: $133.22 Million – 2nd Top poorest counties by GDP in 2021
Nauru, officially the Republic of Nauru and formerly known as Pleasant Island, is an island country in Micronesia, a subregion of Oceania, in the Central Pacific. Its nearest neighbour is Banaba Island in Kiribati, 300 kilometres (190 mi) to the east. Nauru is the smallest state in the South Pacific and third smallest state by area in the world, behind only Vatican City and Monaco.
3. Marshall Islands
GDP: $248.67 Million -3rd Top poorest countries by GDP in 2021
The Marshall Islands is a country located in the Pacific Ocean. It is made up of 29 coral atolls and 5 individual islands. The total population of the Marshall Islands is about 53,000 people.
The Marshall Islands is a beautiful country with many beaches and palm trees. However, it faces many challenges. The low GDP is a major problem. The country also struggles with environmental issues, such as climate change and pollution.
4. Micronesia Fed. Sts.
GDP: $404.18 Million
Micronesia, Fed. Sts. is one of the poorest countries by GDP in the world. The GDP per capita is only $2,170, which is very low compared to other countries. The main reasons for this low GDP are the small size of the economy and the high level of poverty.
The small size of the economy is another reason for the low GDP per capita in Micronesia, Fed. Sts. The economy is mostly based on agriculture, fishing, and tourism. However, these industries are not very profitable and do not generate a lot of income for the country.
GDP: $545.62 Million
Dominica is an island country located in the Caribbean Sea. It has a population of about 71,000 people and a GDP per capita of $4,844. Dominica is considered to be one of the poorest countries in the world. The majority of the population lives below the poverty line.
The poverty rate in Dominica is high due to a number of factors. These include a lack of access to education and healthcare, high levels of unemployment, and limited opportunities for economic growth.
6. Sao Tome and Principe
GDP: $547.09 Million
Sao Tome and Principe is a small island nation located off the coast of West Africa. It has a population of just over 200,000 people. The country has a GDP per capita of just $600, making it one of the poorest countries in the world.
The government of Sao Tome and Principe has been working to improve the country’s economy and reduce poverty levels. However, progress has been slow due to the country’s limited resources.
GDP: $788.39 Million
The Independent State of Samoa, commonly known as Samoa and, until 1997, known as Western Samoa, is a country consisting of two main islands, Savai’i and Upolu, and four smaller islands. The capital city is Apia. The Lapita people discovered and settled the Samoan islands around 3,500 years ago.
The economy of Samoa is based on agriculture, fishing, tourism, and remittances from Samoans living abroad. Agriculture accounts for 26 percent of Samoa’s GDP, while fishing and tourism account for 14 percent and 10 percent respectively. Remittances from Samoans living abroad account for about 20 percent of Samoa’s GDP.
8. Vincent and the Grenadines
GDP: $889.78 Million
St. Vincent and the Grenadines is a country located in the Lesser Antilles chain of islands in the Caribbean Sea. The country has a population of about 109,000 people and a GDP per capita of $4,200.
The economy of St. Vincent and the Grenadines is based on tourism, agriculture, fishing, and manufacturing. The country’s main exports are bananas, coconuts, arrowroot, and salt.
9. Turks and Caicos
GDP: $943.27 Million
The Turks and Caicos Islands is a country located in the Caribbean Sea. The country has a population of about 31,000 people and an area of 430 square kilometers. The capital of the country is Cockburn Town.
The Turks and Caicos Islands has a GDP per capita of $11,890. This makes it the poorest country by GDP per capita. The country’s economy is mainly based on tourism and agriculture. The main crops grown in the country are sugarcane, corn, and vegetables.
10. Kitts and Nevis
GDP: $976.15 Million
St. Kitts and Nevis is a country located in the Caribbean Sea. The country has a population of about 55,000 people. The capital of St. Kitts and Nevis is Basseterre.
The economy of St. Kitts and Nevis is largely based on tourism. However, the country also has some agriculture and fishing. The main agricultural products grown in St. Kitts and Nevis are coconuts, sweet potatoes, and onions.
Must Read: Top 10 countries by GDP in the world in 2021
Data Source: World Bank