South Sudan tops list of poorest countries with $492 GDP per capita
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South Sudan, the youngest nation globally, has been identified as the poorest country according to a report released by the International Monetary Fund (IMF).
The ranking is based on GDP per capita adjusted for purchasing power parity (PPP), which provides a more accurate representation of living standards by considering the cost of living.
With a GDP per capita PPP of just $492.72, South Sudan faces immense challenges stemming from political instability, ongoing conflicts, and inadequate infrastructure. The nation gained independence in 2011 and continues to grapple with these issues, impacting the livelihoods of its citizens.
Following South Sudan on the list 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 similar struggles, including political unrest, internal conflicts, and reliance on rain-fed agriculture, exacerbating their vulnerability to climate shocks and food insecurity, reported AFP.
Other nations highlighted in the report include Malawi ($1,710.00), Niger ($1,730.00), Chad ($1,860.00), Liberia ($1,880.00), and Madagascar ($1,990.00). Primarily located in Sub-Saharan Africa, these countries face challenges such as limited resources, rapid population growth, and heavy dependence on agriculture, contributing to their economic struggles.
The report underscores the need for international action to address the root causes of poverty in these nations. Investments in infrastructure, economic diversification, and political stability are essential steps toward improving the prospects for these countries and their citizens.
In addition to South Sudan, Yemen emerges as an Asian nation grappling with severe economic challenges, with an estimated GDP per capita of $2,136. However, the accuracy of this figure remains uncertain due to ongoing conflicts affecting precise economic assessments.
On the other end of the spectrum, Luxembourg ranks as the world's wealthiest nation with a GDP per capita PPP of $145,834. Meanwhile, India's GDP per capita PPP stands at $9.89 thousand as of 2024, reflecting its position in the global economic landscape.