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- Bolivia. Bolivia is the poorest nation in Latin America by any measure. High unemployment and underemployment are rampant in Bolivia, and more than 80% of the nation’s population lives in poverty.
- Suriname. The smallest independent country in South America, Suriname has one of the highest Gini coefficients in the world, which indicates a very large degree of income inequality.
- Venezuela. A 2020-21 survey made headlines with the finding that 76.6% of Venezuelans lived in extreme poverty. While that percentage improved to 50.5% by 2022, Venezuela remains mired in significant poverty.
- Paraguay. Paraguay faces high income inequality, with a Gini coefficient in the 45-46 range. According to the Borgen Project, the richest 10% of people in Paraguay earn 37.1% of the income, while the poorest 40% of people earn a total of 12.5% of the income.
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- Venezuela - $3,374
- Bolivia - $3,683
- Guyana - $4,689
- Suriname - $5,799
- Ecuador - $6,315
Venezuela is the poorest country in South America, with a per capita GDP of only $3,374. Unfortunately, the country is currently admist a major socioecomonic crisis. The crisis has moved beyond unemployment and poor economic performance is now affecting the quality of life of all citizens on even a basic level. The UN estimates that 94% of Venezuel...
Bolivia is the second poorest country in South America in terms of GDP per capita. The per capita income in the country was $3,682 in 2018 according to the records of the International Monetary Fund. The nation is located in the western-central part of the continent. Santa Cruz de la Sierra is the financial and economic hub of Bolivia. The landlock...
The economy of Guyana is the third weakest on the continent. It had a GDP per capita of $4,689 in 2018. The country is located in the northern part of mainland South America but is also often listed as a Caribbean country due to its close cultural, political, and historical ties with the Caribbean region. Crop production, mining, and fishing are th...
Suriname has the fourth smallest per capita income in South America, at $5,799. It is estimated that the poverty rate of the country nears 50%. The country, which was a former Dutch colony, relied on aid from the Netherlands until 2014. Although the country is rich in natural resources, it has not been able to fulfill its potential.
Located in the northwestern part of South America, Ecuador has the fifth lowest GDP per capita in the continent at $6,315. The middle-income, developing economy of the country highly relies on agricultural commodities and petroleum for its survival. The GDP of the country exhibited an average annual growth of 4.3% between 2007 and 2012. Unemploymen...
- Oishimaya Sen Nag
Dec 9, 2023 · The poorest country in South America and the Caribbean is Haiti, which has a GDP per capita of $3,190, as of December 2023, according to data from the IMF.
Poverty in South America is prevalent in most of its countries. Those that have the highest rates of poverty per population are Suriname, Bolivia and Venezuela. [1] Recent political shifts in the region have led to improvements in some of these countries.
- Maria Wood
- Contributor
- Haiti. > GNI per capita, 2020: $1,320. > GDP, 2020: $14.51 billion – #20 lowest of 42 countries. > Life expectancy at birth in 2019: 64.00 years – #1 lowest of 41 countries.
- Nicaragua. > GNI per capita, 2020: $1,850. > GDP, 2020: $12.62 billion – #18 lowest of 42 countries. > Life expectancy at birth in 2019: 74.49 years – #16 lowest of 41 countries.
- Honduras. > GNI per capita, 2020: $2,180. > GDP, 2020: $23.66 billion – #22 lowest of 42 countries. > Life expectancy at birth in 2019: 75.27 years – #19 lowest of 41 countries.
- Bolivia. > GNI per capita, 2020: $3,180. > GDP, 2020: $36.57 billion – #18 highest of 42 countries. > Life expectancy at birth in 2019: 71.51 years – #4 lowest of 41 countries.
May 26, 2024 · The poorest country in South America is Venezuela, with a per capita GDP of only $3,374. The country has been facing a severe economic and political crisis in recent years, leading to widespread poverty and economic instability.
Jun 25, 2024 · According to data from 2021, Burundi is considered the world’s poorest country, followed by the Central African Republic, South Sudan, the Democratic Republic of the Congo, and Somalia.
