joto la jiwe
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- Sep 4, 2017
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GDP per capita is often considered an indicator of the standard of living of a given country, as it reflects the average wealth of each person residing in a country. It is therefore the standard method used to compare how poor or wealthy countries are in relation to each other. With 2018 just under way, we decided to take a look at our forecasts for GDP per capita from 2018 to 2022 for the 127 countries we cover to get an idea of what countries are the poorest currently and which will be making a leap toward becoming wealthier in the coming years. The projections used in this study are Consensus Forecasts based on the individual forecasts of over 900 world renowned investment banks, economic think tanks and professional economic forecasting firms.
As one might imagine those closest to the top of the list are mostly emerging markets and least developed countries of which the majority are from Sub-Saharan Africa. Similar to our ranking for the most miserable economies, this is one of those lists where the “winners” aren’t really winners; being as far from the top of the list as possible is a good thing.
Many of the poorest nations in the world are places where issues such as authoritarian regimes, political turmoil, weak financial institutions, inadequate infrastructure and corruption deter foreign investment despite the fact that many of them are immensely rich in natural resources and have a young, growing population. In our list of the top 10, five are landlocked, which means they have no direct access to maritime trade and another one is in the midst of a civil war, which helps to explain why some of them are currently not in the best of shape.
Despite how grim that may sound, these countries stand to benefit the most in the coming years as emerging markets will become vitally important to the global economy. Although per capita GDP will still be the highest in the developed world by 2022, the fastest growth in GDP per capita will indeed come from many of the world’s poorest economies currently. According to our forecasts, the highest per capita growth from 2016–2022 will be in Yemen with a 97% increase in that time span, followed by Moldova, India, Romania and Myanmar with 83%, 77%, 73%, and 73% growth in per capita GDP, respectively. The winner for GDP per capita growth from 2016, the latest confirmed data, and our forecast for 2018 is Moldova with a projected 36% increase in per capita growth, or in USD terms, USD 691 per head.
The Poorest Countries in the World (2018-2022)
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As one might imagine those closest to the top of the list are mostly emerging markets and least developed countries of which the majority are from Sub-Saharan Africa. Similar to our ranking for the most miserable economies, this is one of those lists where the “winners” aren’t really winners; being as far from the top of the list as possible is a good thing.
Many of the poorest nations in the world are places where issues such as authoritarian regimes, political turmoil, weak financial institutions, inadequate infrastructure and corruption deter foreign investment despite the fact that many of them are immensely rich in natural resources and have a young, growing population. In our list of the top 10, five are landlocked, which means they have no direct access to maritime trade and another one is in the midst of a civil war, which helps to explain why some of them are currently not in the best of shape.
Despite how grim that may sound, these countries stand to benefit the most in the coming years as emerging markets will become vitally important to the global economy. Although per capita GDP will still be the highest in the developed world by 2022, the fastest growth in GDP per capita will indeed come from many of the world’s poorest economies currently. According to our forecasts, the highest per capita growth from 2016–2022 will be in Yemen with a 97% increase in that time span, followed by Moldova, India, Romania and Myanmar with 83%, 77%, 73%, and 73% growth in per capita GDP, respectively. The winner for GDP per capita growth from 2016, the latest confirmed data, and our forecast for 2018 is Moldova with a projected 36% increase in per capita growth, or in USD terms, USD 691 per head.
The Poorest Countries in the World (2018-2022)
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