Unveiling the Poorest 10 Countries in 2024
Business Connect Magazine
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Despite having an abundance of natural resources, some countries are going through extreme poverty. As per the data from the World Global Economy, the African continent is home to some of the world’s poorest countries.
The nations with the lowest GDP per capita will be the world’s poorest countries in 2024. Before we move on to the country’s details, let’s first understand the idea of GDP per capita and how a nation is rated using it before moving on to the list of the world’s poorest nations.
It is calculated by dividing the GDP of a nation by the total population. PPP GDP is the gross domestic product converted using purchasing power parity rates into a foreign currency, typically dollars.
The top ten poorest nations in the world, ranked by GDP (gross domestic product) as well as global economic disparities, have all been discussed in detail in this article. We will take you through the actual condition of the world’s poorest nations, from income disparity, and developmental challenges, to how foreign support affects these countries’ socioeconomic standing.
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