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Poorest Countries in Europe 2024. Snapshot. In 2020, Ukraine was Europe's poorest country, followed by Georgia and Kosovo. The European Union's economy is among the top three globally, with such individual countries as Germany leading.
The data reveal that the ten poorest countries in Europe are Ukraine, Moldova, Albania, North Macedonia, Bosnia and Herzegovina, Belarus, Serbia, Montenegro, Bulgaria, and Romania. These nations demonstrate unique economic landscapes and face a diverse array of challenges.
- South Sudan🇸🇸 Current International Dollars: 476 | View South Sudan’s GDP & Economic Data. The very poorest of the world’s poorest countries, South Sudan has been wracked by violence since its creation in 2011.
- Burundi🇧🇮 Current International Dollars: 890 | View Burundi’s GDP & Economic Data. Tiny landlocked Burundi lacks natural resources and has been scarred by a 12-year civil war, contributing to its ranking of second-poorest country in the world.
- Central African Republic (CAR)🇨🇫 Current International Dollars: 1,127 | View CAR’s GDP & Economic Data. Rich in gold, oil, uranium and diamonds, the Central African Republic is a very wealthy country inhabited by very poor people, and has been among the poorest countries in the world for the better part of a decade.
- Democratic Republic of the Congo (DRC)🇨🇩 Current International Dollars: 1,510 | View DRC’s GDP & Economic Data. Since gaining independence from Belgium in 1960, the DRC has suffered decades of rapacious dictatorship, political instability and constant violence, making it a regular in our rankings of the world’s poorest countries.
Mar 29, 2023 · Nominal world GDP per capita is expected to go from $13,400 in 2022 to $13,920 in 2023, but in contrast to the rest of the world, per capita economic output in Africa is much lower than in continents such as North America or Europe.
- Moldova – GDP Per Capita $3,300
- Ukraine – GDP Per Capita $3,425
- Kosovo – GDP Per Capita $5,020
- Albania – GDP Per Capita $5,373
- North Macedonia – GDP Per Capita $6,096
- Bosnia and Herzegovina – GDP Per Capita $6,536
- Belarus – GDP Per Capita $6,604
- Montenegro -GDP Per Capita $8,704
- Serbia – GDP Per Capita $8,748
- Bulgaria – GDP Per Capita $11,350
Moldova officially called the Republic of Moldova is the poorest country in Europe with its GDP per capita of just $3,300. Moldova shares its border with Romania and Ukraine. The name Moldova has been derived from the river Moldova. Moldova, which was an earlier part of the USSR faced a rapid decline in the economy and its citizens had to go throug...
Ukraine is the second in the list of Europe’s poorest countries with a per capita GDP of $3,425. Ukraine which was earlier part of the USSR was the second-largest economy but slipped into recession post-collapse of the USSR. Over the last many years, war has been steadily waged in Ukraine that left more than 850,000 people displaced internally and ...
Kosovo officially referred to as the Republic of Kosovo is a partially recognized state with per capita GDP of $5,020. Kosovo ranks third in the list of Europe’s poorest country wherein one-third of the country’s population falls below poverty. In absolute terms, it implies 550,000 lives in poverty earning less than 500 Euros in a month. Kosova has...
Albania also called the Republic of Albania has a GDP per capita of $5,373. Albania was in the transition process from a socialist economy to free-market economy post disintegration of the USSR in the 1990s. Albania is rich in natural resources like oil, natural gas, iron, coal, and limestone which is helping in reviving Albania’s economy. Albania ...
North Macedonia which gained independence in 1991 is ranked fifth in the list of the poorest countries in Europe. North Macedonia which has its GDP per capita of $6,096 is undergoing a drastic change in its economy recently. Trade contributes to more than 90% of the country’s GDP. In spite of reforms implemented successfully by the North Macedonia ...
Bosnia and Herzegovina abbreviated BiH or B&H is ranked sixth in the list of the poorest country in Europe with a per capita GDP of $6,536. The single biggest factor for the cause of poverty in Bosnia is its legacy of war. Bosnia was a well-doing economy before the conflict started between Bosnia and Herzegovina in 1992-1995 which is also known as ...
Belarus like its erstwhile Soviet republics faced deep economic trouble after the collapse of the USSR which made it the seventh poorest European country. Before 1990, had the highest living standard and its economy was doing phenomenally well. Belarus was facing an economic crisis till 1996 after which it started to recover. The GDP per capita inc...
Montenegro’s economy which relies primarily on energy industries registered GDP per capita of $8,704. Rapid urban expansion leading to deforestation is eroding the natural resources of the country making it more vulnerable. Gender and age discrimination is high causing income disparity, especially for women. Almost 50,000 of Montenegro’s population...
Serbia is one of the poorest European countries at ninth place with a per capita GDP of $8,748. Serbia witnessed good economic growth for 8 years at the beginning of the 2000s. Serbia’s economy registered negative growth in 2009 because of the global financial crisis which led the country’s external debt to rise to 63.8% of its GDP. Serbia is prone...
Bulgaria is ranked tenth in the list of Europe’s poorest countries with a per capita GDP of $11,350. When Bulgaria lost its soviet primary market in the 1990s, it attempted to transform itself into a free-market democratic economy which caused a further dent in Bulgaria’s economy. Bulgaria was hit hard again in the 2008 global financial crisis. Bul...
The first table lists countries by the percentage of their population with an income of less than $2.15 (the extreme poverty line), $3.65 and $6.85 US dollars a day in 2017 international prices. The data is from the most recent year available from the World Bank API.
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Mar 29, 2023 · Global poverty estimates were updated today on the Poverty and Inequality Platform (PIP). This update includes new regional poverty aggregates in 2020 and 2021 for Latin America and the Caribbean, and in 2020 for Europe and Central Asia, and the group of advanced countries.
