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*If counted as European countries rather than Asian countries, the transcontinental countries Armenia ($4,220) and Azerbaijan ($4,450) would also appear on the above list. 1. Ukraine. With a per capita GNI of $3,540, Ukraine is the poorest country in Europe as of 2020. Ukraine once had the second-largest economy in the USSR.
- 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...
- Macedonia. GDP per Adult in 2021: $8,624. Macedonia, commonly known as North Macedonia, is a landlocked country positioned in Southeastern Europe. Its capital and largest city is Skopje.
- Belarus. GDP per Adult in 2021: $9,129. The Republic of Belarus is a landlocked country located in Eastern Europe. Minsk serves as both its capital and largest city.
- Serbia. GDP per Adult in 2021: $11,538. Serbia, known officially as the Republic of Serbia, is a landlocked country located in Southeastern and Central Europe.
- Montenegro. GDP per Adult in 2021: $12,231. Montenegro is located in Southeastern Europe. It is a member of several organizations including the UN, NATO, and the WTO.
Feb 9, 2023 · To get a grasp on the economic playing field, one must identify the factors underlying inequality among European countries. The 10 Poorest Countries in Europe: Moldova - GDP per capita (PPP): $17,779; Armenia - GDP per capita (PPP): $18,007; Bosnia and Herzegovina - GDP per capita (PPP): $18,956; Albania - GDP per capita (PPP): $19,009
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GDP (PPP) (in US$) per capita by country Country 2023 Luxembourg: 143,304 Ireland: 137,638 Switzerland: 89,537 San Marino: 84,135 Norway: 82,264 Denmark: 74,958 Netherlands: 73,317 Iceland: 69,833 Austria: 69,069 Andorra: 68,233 Sweden: 66,209 Germany: 66,038 Belgium: 65,813 Malta: 63,481 Finland: 59,869 France: 58,765 United Kingdom: 56,836
Country2023143,304137,63889,53784,135The 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.
Moldova is the fastest growing economy in Europe, but is also one of Europe's poorest countries, with the lowest GDP (nominal) per capita of any European state. Monaco has the highest GDP (nominal) per capita of any European state.
