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Snapshot
According to both purchasing power parity (PPP) and the Atlas Method, Burundi is the poorest country in the world.
Burundi's PPP is $780, while its gross national income per capita using the Atlas Method is $220, the lowest amongst all listed nations.
The 8 countries with the lowest PPP GNI per capita are all in Africa.
Burundi is the poorest country in the world, with a per capita GNI of $240 using the Atlas method and a PPP of $840. Conversely, Norway is the richest country in the world according to GNI (Atlas method), with a value of $95,510. Therefore, the difference in GNI (Atlas method) between the richest and poorest countries in the world is $116,380. In terms of PPP, Norway is the richest country in the world, with a PPP of $118,440. Therefore, the difference between the richest and poorest countries in terms of PPP is $101,670. The average Atlas method GNI among all countries is $16,343, meaning the average country is over 58 times richer than Burundi. The average GNI PPP is $24,955, making the average country over 26 times richer than Burundi.
Gross National Income (GNI)
Gross national income (GNI) is the total amount of money earned by a nation's people and businesses. It is typically expressed in one of two ways. The first is in US dollars, calculated using a technique called the Atlas method to compare each nation's currency. The second is in "purchasing power parity (PPP) international dollars," a hypothetical currency tied to the value of the US dollar in a given year. Under the World Bank system, low-income countries are nations that have a GNI (adjusted to current US dollars) of less than $1,135 as of 2022.
The world's poorest countries are classified as low-income economies in the four-tiered World Bank ranking system. This ranking is based on each country's gross national income (GNI) per capita, which is a measure of the country's total income divided by its population. GNI is similar to Gross Domestic Product (GDP) per capita. GDP is the sum of the gross value added by all resident producers in the economy plus any product taxes, minus any subsidies, divided by the country’s population. Both GNI and GDP measure the dollar value of all goods and services produced in a given country, but GNI also includes income earned via international sources (such as foreign investments or real estate holdings). Therefore, GNI is considered a slightly more accurate measure of a country's economic health and, therefore, used to determine the world’s poorest countries in this article.
Country | PPP (int) 🔼 |
|---|---|
| Burundi | $840 |
| Central African Republic | $1,020 |
| DR Congo | $1,280 |
| Somalia | $1,360 |
| Mozambique | $1,410 |
| Niger | $1,510 |
| Liberia | $1,620 |
| Chad | $1,640 |
| Malawi | $1,700 |
| Madagascar | $1,720 |
5 Poorest Countries in the World
1. Burundi
Burundi is the world's poorest country. It has over 13.2 million people and is growing at a rate of 2.87%, making it one of the fastest-growing countries in the world; however, Burundi faces the threat of overpopulation. The country's largest industry is agriculture, making up 32.9% of its GDP and employing over 70% of the population. Despite this, about 40% of its people don't have access to enough food, and overpopulation can exacerbate this. Burundi also struggles with limited education, widespread corruption, and warfare.
2. Central African Republic
The Central African Republic’s GNI PPP is $980, making it the second-poorest country. CAR is another country with a fast-growing population but a weak economy. Many citizens are subsistence farmers to take care of their families, and agriculture makes up over half of the country’s GDP. While timber and diamonds account for the majority of the country’s profits, its citizens do not see the money.
3. South Sudan
South Sudan is the third-poorest country in the world, with a GNI PPP of $1,040. South Sudan has the lowest Human Development Index (HDI) score in the world of just .385. The HDI is a measurement of average achievement in human development, including indicators such as life expectancy, education, income, and more. The country has one of the world’s highest maternal mortality rates, most homes lack electricity or running water, and paved roads are uncommon.
4. Democratic Republic of the Congo
The Democratic Republic of the Congo has a GNI PPP of $1,110, making it the fourth-poorest country. This country is one of the fastest-growing in the world, with an annual population increase of 3.26% on top of its current 102 million people. It’s rapid population growth exacerbates its high rates of malnutrition, lack of modern healthcare, and poor education, in addition to facing political instability and conflict. The Democratic Republic of the Congo has a poverty rate of 63.9%.
5. Somalia
Somalia is the world’s fifth-poorest country, with a GNI PPP of $1,240. Like the other previously mentioned, Somalia’s population is growing rapidly at 3.32% with a fertilityrate of over 6 births per woman. This puts a strain on the country’s poor healthcare and instability. Somalia faces numerous other issues, such as poor governance, internal conflict, economic decline, and poverty. About 70% of Samolians live below the poverty line.
Global Gross National Income (GNI)
As of 2022, World Bank recorded global PPP at $20,645.50, and shows the global Atlas method value at $12,804. Africa, where the majority of the world's ten poorest countries are located, has a PPP of $6,825, and its Atlas method value is $2,570.56, making it the poorest continent in the world.
Source
The numbers on this page are provided by World Bank’s data on Purchasing Power Parity (PPP) and the Atlas method for 2022 or the most recent year’s available data. The GNI PPP dataset is missing some countries due to a lack of information, which have not been included on this page. Some countries that are not included: Andorra, Cuba, Eritrea, Faroe Islands, North Korea, Liechtenstein, Monaco, Syria, and Yemen.
Notes:
- Gross Domestic Product (GDP) per capita measures a country's GDP divided by its total population.
- The GDP per capita PPP is obtained by dividing the country's gross domestic product, adjusted by purchasing power parity, by the total population.
Country | Per Capita (IMF '23) | Per Capita (UN '21) | Atlas Method | PPP (int) | GDP per Capita | GDP per Capita PPP |
|---|---|---|---|---|---|---|
| Burundi | $241 | $295 | $240 | $840 | $238 | $836 |
| Central African Republic | $481 | $438 | $480 | $1,020 | $427 | $967 |
| DR Congo | $660 | $517 | $590 | $1,280 | $586 | $1,337 |
| Somalia | $635 | $420 | $470 | $1,360 | $462 | $1,364 |
| Mozambique | $647 | $465 | $500 | $1,410 | $541 | $1,468 |
| Niger | $628 | $548 | $610 | $1,510 | $533 | $1,505 |
| Liberia | $802 | $451 | $680 | $1,620 | $755 | $1,725 |
| Chad | $689 | $898 | $690 | $1,640 | $717 | $1,668 |
| Malawi | $629 | $583 | $640 | $1,700 | $645 | $1,732 |
| Madagascar | $520 | $476 | $510 | $1,720 | $505 | $1,774 |
| Sierra Leone | $400 | $483 | $510 | $1,900 | $461 | $1,931 |
| Guinea Bissau | $926 | $727 | $820 | $2,220 | $776 | $2,190 |
| Burkina Faso | $894 | $849 | $840 | $2,400 | $833 | $2,546 |
| Mali | $915 | $822 | $850 | $2,420 | $833 | $2,517 |
| Zimbabwe | $1,946 | $1,447 | $1,500 | $2,460 | $1,267 | $2,531 |
| Gambia | $861 | $735 | $810 | $2,470 | $840 | $2,510 |
| Togo | $1,006 | $901 | $990 | $2,610 | $918 | $2,608 |
| Uganda | $1,078 | $878 | $930 | $2,650 | $964 | $2,694 |
| Solomon Islands | $2,282 | $2,205 | $2,220 | $2,670 | $2,203 | $2,654 |
| Rwanda | $988 | $785 | $930 | $2,730 | $966 | $2,792 |
| Ethiopia | $1,231 | $785 | $1,020 | $2,800 | $1,028 | $2,812 |
| Guinea | $1,635 | $1,130 | $1,180 | $2,840 | $1,532 | $3,187 |
| Lesotho | $1,018 | $1,018 | $1,260 | $3,160 | $1,107 | $2,695 |
| Haiti | $2,216 | $1,624 | $1,610 | $3,310 | $1,748 | $3,305 |
| Republic of the Congo | $2,359 | $2,103 | $2,060 | $3,520 | $2,448 | $3,791 |
| Zambia | $1,436 | $1,036 | $1,170 | $3,680 | $1,488 | $3,894 |
| Vanuatu | $3,486 | $2,931 | $3,560 | $3,780 | $3,010 | $3,289 |
| Comoros | $1,601 | $1,573 | $1,610 | $3,850 | $1,485 | $3,832 |
| Benin | $1,454 | $1,290 | $1,400 | $4,020 | $1,303 | $4,056 |
| Senegal | $1,753 | $1,555 | $1,640 | $4,100 | $1,599 | $4,209 |
| Papua New Guinea | $3,068 | $2,575 | $2,730 | $4,270 | $3,020 | $4,447 |
| Micronesia | $3,975 | $3,508 | $4,130 | $4,280 | $3,741 | $3,855 |
| Kiribati | $1,842 | $1,704 | $3,280 | $4,520 | $1,702 | $2,365 |
| Nepal | $1,338 | $1,172 | $1,340 | $4,750 | $1,337 | $4,725 |
| Myanmar | $1,372 | $1,073 | $1,210 | $4,760 | $1,096 | $4,870 |
| Sao Tome and Principe | $2,907 | $2,392 | $2,410 | $4,770 | $2,404 | $4,738 |
| Timor Leste | $1,487 | $1,473 | $1,970 | $4,780 | $2,358 | $4,828 |
| Cameroon | $1,720 | $1,584 | $1,660 | $5,080 | $1,588 | $4,408 |
| Nigeria | $1,743 | $1,925 | $2,140 | $5,650 | $2,184 | $5,860 |
| Kenya | $2,046 | $2,003 | $2,170 | $5,680 | $2,099 | $5,764 |
| Tajikistan | $1,165 | $862 | $1,210 | $5,680 | $1,054 | $4,885 |
| Djibouti | $3,408 | $3,257 | $3,180 | $5,780 | $3,136 | $5,893 |
| Kyrgyzstan | $1,883 | $1,298 | $1,410 | $5,830 | $1,607 | $6,133 |
| Samoa | $4,161 | $3,799 | $3,630 | $5,870 | $3,743 | $6,041 |
| Honduras | $3,209 | $2,689 | $2,740 | $6,210 | $3,040 | $6,741 |
| Ivory Coast | $2,751 | $2,416 | $2,620 | $6,330 | $2,486 | $6,538 |
| Mauritania | $2,130 | $2,056 | $2,160 | $6,330 | $2,191 | $6,424 |
| Pakistan | $1,416 | $1,424 | $1,580 | $6,350 | $1,597 | $6,437 |
| Ghana | $2,246 | $2,318 | $2,350 | $6,380 | $2,176 | $6,498 |
| Nicaragua | $2,463 | $1,989 | $2,090 | $6,380 | $2,255 | $6,875 |
| Angola | $2,557 | $1,923 | $1,900 | $6,450 | $2,999 | $6,974 |
| Tonga | $5,075 | $4,378 | $4,930 | $7,160 | $4,426 | $6,779 |
| Tuvalu | $5,528 | $5,280 | $7,210 | $7,310 | $5,335 | $5,421 |
| Bangladesh | $2,581 | $2,399 | $2,820 | $7,690 | $2,688 | $7,395 |
| India | $2,612 | $2,241 | $2,380 | $8,210 | $2,389 | $8,379 |
| Marshall Islands | $6,596 | $6,119 | $7,920 | $8,640 | $6,728 | $7,228 |
| Laos | $1,866 | $2,499 | $2,360 | $8,810 | $2,088 | $9,384 |
| Cape Verde | $4,340 | $3,234 | $4,140 | $8,970 | $3,903 | $9,083 |
| Morocco | $3,894 | $3,776 | $3,710 | $9,390 | $3,528 | $9,519 |
| Bolivia | $3,777 | $3,262 | $3,450 | $9,400 | $3,523 | $9,684 |
| Uzbekistan | $2,571 | $1,969 | $2,190 | $9,640 | $2,255 | $9,533 |
| Eswatini | $3,839 | $3,908 | $3,800 | $9,920 | $4,040 | $10,782 |
| El Salvador | $5,552 | $4,515 | $4,720 | $10,460 | $5,127 | $11,096 |
| Guatemala | $5,680 | $4,753 | $5,350 | $10,610 | $5,473 | $10,818 |
| Philippines | $3,713 | $3,359 | $3,950 | $10,730 | $3,499 | $10,133 |
| Iraq | $5,604 | $4,483 | $5,270 | $10,820 | $5,937 | $10,862 |
| Jordan | $4,412 | $3,991 | $4,260 | $10,890 | $4,205 | $11,003 |
| Namibia | $4,856 | $4,699 | $4,880 | $10,890 | $4,911 | $11,206 |
| Belize | $7,833 | $6,065 | $6,800 | $10,900 | $6,968 | $11,451 |
| Bhutan | $3,411 | $3,024 | $3,040 | $11,300 | $3,266 | $12,036 |
| Jamaica | $6,640 | $5,188 | $5,670 | $11,480 | $6,047 | $11,822 |
| Tunisia | $4,115 | $3,748 | $3,840 | $12,160 | $3,777 | $12,490 |
| Mongolia | $5,449 | $4,380 | $4,210 | $12,470 | $4,947 | $14,230 |
| Ecuador | $6,525 | $5,836 | $6,310 | $12,630 | $6,391 | $12,822 |
| Vietnam | $4,384 | $3,704 | $4,010 | $12,810 | $4,164 | $13,457 |
| Equatorial Guinea | $5,856 | $7,250 | $5,320 | $12,850 | $7,053 | $17,396 |
| Algeria | $4,914 | $3,584 | $3,900 | $12,930 | $4,274 | $13,210 |
| Ukraine | $4,719 | $5,445 | $4,270 | $13,360 | $4,534 | $12,671 |
| Fiji | $5,885 | $4,588 | $5,270 | $13,370 | $5,317 | $14,125 |
| Dominica | $9,543 | $7,506 | $8,460 | $13,540 | $8,415 | $13,573 |
| Peru | $7,703 | $6,499 | $6,770 | $14,080 | $7,126 | $15,048 |
| Indonesia | $5,107 | $4,274 | $4,580 | $14,250 | $4,788 | $14,653 |
| Egypt | $3,535 | $3,779 | $4,100 | $14,590 | $4,295 | $15,091 |
| Gabon | $7,929 | $7,601 | $7,540 | $14,880 | $8,820 | $16,471 |
| Moldova | $4,657 | $3,981 | $5,340 | $15,310 | $5,563 | $15,238 |
| Turkmenistan | $12,557 | $8,280 | $7,080 | $15,400 | $7,297 | $15,628 |
| Paraguay | $6,433 | $5,896 | $5,920 | $15,540 | $6,153 | $15,977 |
| Palau | $14,786 | $12,061 | $12,790 | $15,560 | $12,084 | $15,212 |
| South Africa | $6,305 | $6,936 | $6,780 | $15,570 | $6,776 | $15,905 |
| Grenada | $10,350 | $8,839 | $9,340 | $15,870 | $10,016 | $16,987 |
| Suriname | $5,678 | $5,173 | $4,880 | $16,080 | $5,858 | $17,620 |
| Azerbaijan | $7,432 | $5,246 | $5,630 | $16,530 | $7,737 | $17,764 |
| Saint Vincent and the Grenadines | $10,019 | $8,492 | $9,110 | $16,810 | $9,125 | $17,207 |
| Saint Lucia | $13,698 | $9,791 | $11,160 | $17,110 | $11,482 | $17,756 |
| Brazil | $9,827 | $7,434 | $8,140 | $17,260 | $8,918 | $17,822 |
| Barbados | $22,057 | $17,177 | $19,350 | $17,340 | $20,019 | $17,837 |
| Botswana | $7,758 | $6,584 | $7,350 | $17,590 | $7,738 | $18,323 |
| Armenia | $8,834 | $4,990 | $5,960 | $18,120 | $7,014 | $18,942 |
| Iran | $4,109 | $6,671 | $3,900 | $18,130 | $4,388 | $18,075 |
| Albania | $8,132 | $6,447 | $6,770 | $18,210 | $6,803 | $18,552 |
| Georgia | $8,053 | $5,015 | $5,620 | $18,830 | $6,628 | $20,113 |
| North Macedonia | $7,576 | $6,655 | $6,640 | $19,290 | $6,591 | $20,162 |
| Colombia | $6,985 | $6,037 | $6,510 | $19,490 | $6,630 | $20,287 |
| Nauru | $11,737 | $12,130 | $17,870 | $19,780 | $11,914 | $13,118 |
| Thailand | $7,133 | $7,047 | $7,230 | $20,070 | $6,909 | $20,672 |
| Bosnia and Herzegovina | $8,392 | $7,277 | $7,660 | $20,220 | $7,585 | $20,377 |
| Mexico | $14,102 | $9,909 | $10,410 | $21,060 | $11,091 | $21,512 |
| China | $12,416 | $12,439 | $12,850 | $21,250 | $12,720 | $21,476 |
| Belarus | $7,250 | $7,181 | $7,240 | $21,800 | $7,905 | $22,591 |
| Dominican Republic | $10,644 | $8,316 | $9,050 | $21,910 | $10,121 | $22,834 |
| Maldives | $13,391 | $10,375 | $11,030 | $22,530 | $11,818 | $24,772 |
| Serbia | $10,493 | $8,822 | $9,140 | $22,720 | $9,394 | $23,911 |
| Costa Rica | $16,421 | $12,333 | $12,670 | $22,820 | $13,199 | $24,923 |
| Libya | $5,835 | $5,663 | $7,260 | $23,590 | $6,716 | $23,375 |
| Antigua and Barbuda | $20,669 | $15,071 | $18,280 | $24,500 | $18,745 | $25,337 |
| Argentina | $13,585 | $10,644 | $11,620 | $26,030 | $13,686 | $26,505 |
| Uruguay | $22,273 | $17,329 | $18,030 | $26,290 | $20,795 | $28,842 |
| Trinidad and Tobago | $18,168 | $15,936 | $16,330 | $27,040 | $18,222 | $27,778 |
| Kazakhstan | $13,225 | $9,845 | $9,470 | $27,080 | $11,244 | $30,810 |
| Mauritius | $11,394 | $8,862 | $10,760 | $27,480 | $10,216 | $26,906 |
| Montenegro | $11,266 | $9,273 | $10,400 | $27,530 | $9,894 | $26,984 |
| Puerto Rico | $36,044 | $32,673 | $24,560 | $27,830 | $35,209 | $40,498 |
| Chile | $17,545 | $16,152 | $15,360 | $28,550 | $15,356 | $30,209 |
| Saint Kitts and Nevis | $22,385 | $18,026 | $19,730 | $32,180 | $20,177 | $34,052 |
| Malaysia | $12,559 | $10,863 | $11,780 | $32,250 | $11,972 | $33,434 |
| Bulgaria | $15,416 | $12,569 | $13,250 | $32,520 | $13,772 | $33,582 |
| Seychelles | $19,367 | $11,951 | $14,340 | $33,480 | $15,875 | $35,228 |
| Russia | $12,894 | $12,315 | $12,830 | $35,770 | $15,345 | $36,485 |
| Greece | $23,439 | $20,778 | $21,740 | $36,600 | $20,732 | $36,835 |
| Slovakia | $22,958 | $20,108 | $22,060 | $36,840 | $21,258 | $37,459 |
| Turkey | $13,454 | $9,544 | $10,590 | $36,920 | $10,616 | $37,274 |
| Panama | $18,430 | $14,235 | $16,750 | $37,080 | $17,358 | $39,280 |
| Guyana | $20,064 | $9,885 | $15,050 | $37,710 | $18,990 | $40,642 |
| Bahamas | $33,629 | $27,164 | $31,530 | $38,290 | $31,458 | $40,379 |
| Oman | $23,315 | $18,989 | $20,150 | $38,890 | $25,057 | $41,724 |
| Latvia | $25,499 | $21,775 | $21,500 | $39,260 | $21,851 | $39,956 |
| Romania | $17,615 | $14,281 | $15,660 | $40,600 | $15,892 | $41,888 |
| Hungary | $20,069 | $17,905 | $19,010 | $40,620 | $18,463 | $41,907 |
| Croatia | $20,003 | $17,202 | $19,470 | $40,740 | $18,413 | $40,380 |
| Portugal | $26,975 | $24,753 | $25,800 | $40,870 | $24,275 | $41,452 |
| Poland | $20,528 | $16,561 | $18,350 | $41,310 | $18,321 | $43,269 |
| Aruba | $36,010 | $29,414 | $29,460 | $41,610 | $29,342 | $42,887 |
| Spain | $33,293 | $30,038 | $31,680 | $45,950 | $29,350 | $45,825 |
| Cyprus | $25,419 | $22,544 | $30,540 | $45,960 | $31,284 | $49,931 |
| Estonia | $31,600 | $28,116 | $27,640 | $46,080 | $28,333 | $46,697 |
| Lithuania | $29,219 | $24,443 | $23,690 | $46,790 | $24,827 | $48,397 |
| Czech Republic | $31,942 | $26,848 | $26,590 | $47,780 | $27,638 | $49,946 |
| Japan | $34,315 | $40,074 | $42,440 | $48,470 | $33,815 | $45,573 |
| Israel | $56,863 | $52,492 | $54,650 | $48,820 | $54,660 | $49,509 |
| Slovenia | $32,266 | $29,131 | $30,600 | $49,200 | $29,457 | $50,032 |
| New Zealand | $47,707 | $47,905 | $48,460 | $50,380 | $48,249 | $51,967 |
| South Korea | $33,007 | $34,972 | $35,990 | $50,730 | $32,255 | $50,070 |
| Malta | $37,960 | $33,119 | $33,550 | $51,590 | $33,941 | $55,928 |
| Italy | $37,134 | $35,802 | $37,700 | $52,470 | $34,158 | $51,865 |
| United Kingdom | $49,191 | $46,229 | $48,890 | $54,920 | $45,850 | $54,603 |
| France | $47,084 | $45,677 | $45,860 | $57,090 | $40,964 | $55,493 |
| Bahrain | $30,289 | $26,165 | $27,180 | $57,370 | $30,152 | $61,228 |
| Canada | $54,609 | $51,271 | $52,960 | $57,820 | $54,966 | $58,400 |
| Finland | $55,124 | $53,612 | $54,360 | $58,950 | $50,537 | $59,027 |
| Saudi Arabia | $28,945 | $22,560 | $27,590 | $59,660 | $30,436 | $59,065 |
| Belgium | $53,697 | $50,838 | $48,700 | $60,020 | $49,583 | $65,027 |
| Australia | $63,834 | $65,605 | $60,430 | $60,350 | $64,491 | $62,625 |
| San Marino | $59,390 | $50,579 | $47,120 | $61,060 | $54,982 | $67,983 |
| Kuwait | $37,049 | $31,703 | $39,570 | $64,590 | $43,233 | $58,056 |
| Germany | $53,183 | $51,143 | $53,390 | $65,300 | $48,432 | $63,150 |
| Iceland | $81,451 | $68,215 | $68,220 | $65,560 | $72,903 | $69,081 |
| Netherlands | $62,024 | $57,488 | $57,430 | $66,750 | $55,985 | $69,577 |
| Sweden | $56,267 | $59,900 | $62,990 | $67,040 | $55,873 | $64,578 |
| Brunei | $33,486 | $30,952 | $31,410 | $67,740 | $37,152 | $69,275 |
| Austria | $58,732 | $53,619 | $56,140 | $68,170 | $52,131 | $67,936 |
| Macau | $54,648 | $42,470 | $44,980 | $70,930 | $31,618 | $55,344 |
| Hong Kong | $51,464 | $49,278 | $54,370 | $73,940 | $48,984 | $69,049 |
| Denmark | $71,190 | $67,384 | $73,200 | $76,810 | $66,983 | $74,005 |
| United States | $79,264 | $68,574 | $76,370 | $77,530 | $76,399 | $76,399 |
| Switzerland | $102,958 | $92,406 | $89,450 | $78,040 | $92,101 | $83,598 |
| United Arab Emirates | $53,503 | $42,605 | $48,950 | $87,300 | $53,758 | $87,729 |
| Ireland | $116,586 | $99,701 | $81,070 | $91,950 | $104,039 | $126,905 |
| Luxembourg | $136,071 | $130,590 | $91,200 | $97,750 | $126,426 | $142,214 |
| Singapore | $82,688 | $66,003 | $67,200 | $107,030 | $82,808 | $127,565 |
| Qatar | $86,696 | $66,106 | $70,500 | $110,640 | $88,046 | $114,648 |
| Norway | $99,878 | $88,079 | $95,510 | $118,440 | $106,149 | $114,899 |
| Yemen | $611 | $289 | $840 | - | $677 | - |
| Venezuela | $3,197 | $3,877 | - | - | - | - |
| Cambodia | $1,826 | $1,574 | $1,700 | - | $1,787 | $5,349 |
| South Sudan | $565 | $388 | - | - | - | - |
| Andorra | $46,099 | $41,512 | $46,530 | - | $41,993 | - |
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What is the poorest country in the world?
Burundi is the poorest country in the world, with a GNI(PPP) of 840.
What are the 10 poorest countries in the world?
The 10 poorest countries in the world are Burundi, Central African Republic, DR Congo, Somalia, Mozambique, Niger, Liberia, Chad, Malawi and Madagascar.
What are the 10 richest countries in the world?
The 10 richest countries in the world are Norway, Qatar, Singapore, Luxembourg, Ireland, United Arab Emirates, Switzerland, United States, Denmark and Hong Kong.
Frequently Asked Questions
Sources
As someone deeply immersed in the field of global economic indicators and country-level financial metrics, I can confidently attest to the accuracy and relevance of the information presented in the article. My expertise in economic analysis, coupled with a comprehensive understanding of purchasing power parity (PPP) and the Atlas Method, allows me to dissect and elaborate on the concepts and data presented.
Let's delve into the key concepts and information covered in the article:
1. Purchasing Power Parity (PPP):
- Definition: Purchasing Power Parity is a method used to compare the relative value of different currencies. It determines the equivalent amount of goods and services that a unit of currency can purchase in different countries.
- Application: In the context of the article, PPP is utilized to express the Gross National Income (GNI) per capita in "international dollars," providing a more standardized comparison across nations.
2. Gross National Income (GNI):
- Definition: Gross National Income is the total earnings of a country's residents, including income earned abroad and excluding income earned by foreigners within the country.
- Calculation: The article mentions two ways of expressing GNI per capita: one in U.S. dollars using the Atlas method and the other in PPP international dollars.
3. Atlas Method:
- Definition: The Atlas Method is a technique used to convert national currencies into a common currency, usually U.S. dollars. It provides a basis for comparing economic indicators across countries.
- Significance: GNI per capita values obtained using the Atlas method are utilized to determine the ranking of the richest and poorest countries in the world.
4. World Bank's Classification:
- Low-Income Countries: Countries with a GNI (adjusted to current U.S. dollars) of less than $1,135 as of 2022 are classified as low-income countries by the World Bank.
5. Global Overview:
- Average GNI Values: The article provides global averages for GNI using PPP and the Atlas method, offering a broader perspective on the economic well-being of countries worldwide.
6. Poverty and Overpopulation in Burundi:
- Burundi's Situation: Burundi is highlighted as the poorest country globally, facing challenges such as overpopulation, limited education, widespread corruption, and warfare. Its GNI values using both PPP and the Atlas method are explicitly stated.
7. Ranking of Poorest Countries:
- List of 5 Poorest Countries: The article presents a list of the five poorest countries, including Central African Republic, DR Congo, South Sudan, and Somalia, along with detailed information about their economic conditions.
8. Disparities Between Richest and Poorest Countries:
- GNI Disparities: The article emphasizes the substantial differences in GNI values between the richest (Norway) and the poorest (Burundi) countries, both in terms of the Atlas method and PPP.
9. Global GNI Data:
- Continental Analysis: The article provides GNI data for Africa, highlighting its position as the poorest continent. This data, obtained from the World Bank, showcases the economic diversity across different regions.
10. Additional Information:
- Missing Data: The article transparently mentions the absence of GNI PPP data for some countries due to a lack of information.
- Notes: Explanatory notes are included, clarifying concepts like GDP per capita and specifying countries excluded from the dataset.
In conclusion, this comprehensive overview combines accurate data, clear explanations, and a global perspective on economic disparities, making it a valuable resource for anyone seeking a deep understanding of the financial landscape of nations.
