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  • A List of Third World Countries: 10 Poorest Nations With Rising Economies

A List of Third World Countries: 10 Poorest Nations With Rising Economies

Category: Financial News

In this day and age where technology has modernized every aspect of human existence, it is hard to imagine that there are countries that seem to have never felt the effects of modernity and the benefits of human advancements. Others are plagued with economic turmoil, political unrest, and civil wars, making it hard for their nations to go and rise above and beyond the pangs of the poverty line.

While Third World countries are now making strides in terms of economic growth, there are still others that are not catching up. Internal clashes of its residents, political problems, and geography are just some of the factors why these poor countries have remained poor for so long. Here are the 10 poorest Third World countries with the biggest economies, ranked by their Gross Domestic Product (GDP) per capita.

#10 Togo – GDP per capita: $899

togo

Togo is ranked as one of largest producers and exporters of phosphate, a mineral widely used for agriculture purposes. But even with such status, Togo is still a poor nation. Aside from phosphate mining, the country also produces large chunks of the world’s cocoa, coffee, and cotton. A nation that relies heavily on commercial agriculture, Togo’s GDP per capita is $899. Half of the population is way below the poverty line, living on less than $1.25 per day.

#9 Madagascar – GDP per capita: $934

madagascar

Having a successful animated film series named after the country may have boosted Madagascar’s image as a tourist destination, but this particular island nation lives way below the poverty line. About 69% of its population is just earning $1 a day, barely enough to make ends meet. With an annual GDP of just $934, Madagascar is hardly successful. Tourism and agriculture is Madagascar’s top industries, but the country is still looking for more investors to help alleviate their citizens’ economic plight.

#8 Afghanistan – GDP per capita: $956

afghanistan

Although considered by many as a dangerous country, Afghanistan is a beautiful nation smacked in the middle of Central Asia. But decades of war, political turmoil, and civil unrest have made Afghanistan non-inviting and non-appealing to foreign investors. 42% of the Afghan people live on less than $1 a day, while unemployment rate is at an abysmal 35%. That said, Afghanistan has never lost a war, which indicates that this is a nation of warriors who are willing to fight to the death rather than surrender. Hopefully such attribute will translate into economic prosperity in the future.

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#7 Guinea – GDP per capita: $1,083

guinea

Guinea is rich with minerals and natural resources, ranging from precious diamonds, gold, and other metals. On top of that, the country has the makings of becoming a hub for hydroelectric power. But why is the country among the poorest in the world? Blame it on rulers who governed the country with an autocratic mindset, which contributed to widespread corruption and poorly developed infrastructure. Prior to its independence from French rule, Guinea was a major exporter of  bananas, pineapples, coffee, peanuts, and palm oil.

#6 Mozambique – GDP per capita: $1,085

morambique

Mozambique relies heavily, almost solely, on small-scale agriculture and tourism, which contributes to the country’s poor economy. Adding to the fact are poorly developed infrastructure, the virtual absence of commercial networks, and lack of commercial investments. In terms of salary, Mozambique workers are paid a minimum of $60 per month. Even with their pristine beaches, Mozambique is struggling to become a hot tourist spot for beach goers.

#5 Ethiopia – GDP per capita: $1,093

ehtiopia

While Ethiopia prides itself as an agricultural nation, with 85% of its work force working the agriculture sector, the country is consistently plagued with droughts. On top of that, many agricultural companies do not implement effective agricultural practices, which contribute to the country’s poor economic performance. There is also the issue of poor sanitation, which causes serious health problems in the country.

#4 Mali – GDP per capita: $1,128

mali

50% of the Mali population live well below the poverty line and are only earning $1.25 a day. This is the reality despite the fact that Mali has natural deposits of gold and uranium and is a major producer of livestock and salt. Mali is also reliant on foreign aid. With most of the country’s geography consisting of desert and semi-desert, investors are naturally awry to make business in Mali. That said, the World Bank has created a program to help Mali’s economy grow, diversify, and become more appealing to foreign investors.

#3 Guinea-Bissau – GDP per capita: $1,144

guinea-bissau

Although commercial farming and fishing are Guinea-Bissau’s bread and butter on paper, many view the illegal narcotics trade as the most lucrative line of work in the country. More than 60% of the population is believed to be involved with the drug business, acting as couriers or as conduits of the illegal merchandise from Latin America to Europe. It is said that the government is aware of these practices but employ little to less opposition to stop the drug trade in the country.

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#2 Comoros – GDP per capita: $ 1,232

comoros

Comoros is experiencing a boom in population, yet with only three islands in its territory and limited natural resources, this country is bound to see its economy drop significantly in the future. Comoros’ political structure is flimsy at best, and it has experienced numerous coups d’etat since gaining independence back in 1975.

#1 Haiti – GDP per capita: $1,235

haiti

While Haiti is a free market economy that basks in the benefits of affordable labor costs and tariff-free access to the US for their exported products, the island nation still suffers economically. Blame it on corruption within the government, limited access to education and career opportunities, and poverty. More than 80% of the Haitian population lives under the poverty line. The January 2010 earthquake, which jolted Haiti with a magnitude of 7.0 and turned Port Au Prince into rubble, dramatically set the country back in many aspects.

By Jenny Chang

Senior writer at FinancesOnline who writes about a wide range of SaaS and B2B products, including trends and issues on e-commerce, accounting and customer service software. She’s also covered a wide range of topics in business, science, and technology for websites in the U.S., Australia and Singapore, keeping tabs on edge tech like 3D printed health monitoring tattoos and SpaceX’s exploration plans.

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25 Comments »
Jan Lover says:

Thank you Jenny Chang for this Article. One of the causes of this problem is the bribery. They have to fight this plague.

Reply to this comment »
Rahul says:

It's not the people who make these places difficult to live in, it's the govt corruption and the wealthy people who don't give back. All of the people are nice, and they are happy. The bad people who are poor do what they can just to get by.

Reply to this comment »
Lynn says:

Government that is to powerful can be a problem.Then you are only free to follow all the rules and regulations and you better be able to provide proof of it or you will be impr

Reply to this comment »
Joel M says:

I see a lot of good hearted people in the comments section, but let us all please remember that there is no such thing as third or first world countries, but underdeveloped, developing and developed countries. The creator of this article should probably edit those terms in order for educated people to take the article more seriously. Nevertheless without said terms this article is pretty informative, is good to learn, thanks.

Reply to this comment »
Jane Smith says:

I truly believe that we take a lot of things for granted from meals to cars heck even music. Our generation is a very ungrateful one at most, if we could just open up our children's eyes and tell them to wake up and look at what's happening to the world instead of looking at that recent Instagram post Kim Kardashian made.

Reply to this comment »
Joshua says:

This is super sad. The idea that we take almost everything that we have in America, and spit it all out like it's trash. In order to help the people in third world countries, we need to start truly appreciating what we have in america and start taking advantage of it. We also need to start sharing and not being stingy.

Reply to this comment »
Jorge L Hernandez says:

It is very interesting that all this countries are very rich in oil, gold and other natural resources, but what is killing them is the Neoliberalism economy and the Globalization used by the first world countries...

Reply to this comment »
Joanne Bailey says:

I am an American currently living in a third world country. I have been here for a year and I can tell you that there is no welfare or social safety net but people are doing fine without it. They respect the elderly and care for the disabled more than any government benefits program ever could. America has poverty of the heart and soul- these people are better off and happier , more grateful for the free things in life - the things that actually matter. Lack of money is not the only kind of poverty in the world today.

Reply to this comment »
Peter Bentley says:

Hi Joanne, Thanks a million for your sincere words. Totally I share my thoughts with you. Just like you, I have lived in a few third world countries and learnt a lot with their people. Their family values and care for people are outstanding. Amazing that with so little they can be so kind and happy.Cheers.God bless

Reply to this comment »
Andrew Jennings says:

That's great to hear, Joanne. I always had a feeling that third world countries were not as bad as some people want younger individuals to believe. I'd love to spend some time outside of America, so I could know what the real world is like.

Reply to this comment »
In reply to Andrew Jennings's comment, Jackie says:

Third world countries really are bad. Just because people are learning to survive doesn't mean they are doing well. For example, people with disabilities in third world countries are left to beg or live off the kindness of others. People with disabilities in the USA are educated, trained to work, and protected from discrimination (thanks to tax-funded programs like public education and the Rehab Act and ADA). In third world countries, high infant mortality rates are an accepted part of life. In first-world countries, that's unacceptable, and our government health care subsidies help keep mortality rates low. Please read more about third world countries than just this one person's comment. And I hope you do get to live in a third world country someday. They are grateful people, but if they could have government safety nets and public assistance, they would take it.

Red says:

It is not enough to give resources. In fact most resources you do give up sadly will go to the corrupt oligarchies of those countries. In some of the countries listed above, it is so bad that the government has a habit of searching peoples houses and stealing the peoples food. Until we see a change in the countries government, we are incredibly unlikely to see a change in wealth. These people always appreciate help, but I am not sure how my "help" is actually going to the people who need it.

Reply to this comment »
Mike says:

One person gets it. It’s not about charity, It’s about the people on top that take everything.

Reply to this comment »
Laura pappas says:

We have so much. Can we share with our brothers and sisters of the world? Istead of the next meal out or a brand new car? Sacrifices are difficult, but in our hearts we know it's the right thing to do. I have decsided to forgo going out to dinner once in the next month. It's something.

Reply to this comment »
wait what says:

You almost described communism.

Reply to this comment »
In reply to wait what's comment, Wait what what says:

What is your definition of Communism?

Andrew Jennings says:

If the whole country could get involved, just think.. if every American were to donate even just a dollar or two, hundreds of millions of dollars could be used to assist challenging countries. I feel that this is something my parents would consider a "pipe dream", but I believe it could become real.

Reply to this comment »
In reply to Andrew Jennings's comment, Zuky Casillas says:

America? South and Central America as well, cause I'd love to be part of "pipe dream"

In reply to Andrew Jennings's comment, Jordan Kennedy says:

That would be quite an insignificant amount on a national scale. If everyone in the US donated ten dollars that would equate to approx 3 billion. In 2012 the US gave 0.7% of their budget to foreign aid, approx 27 billion.

Gn says:

that is so sad. I have never realized that we are so wealthy and they are so so poor. :(

Reply to this comment »
C.T says:

If any of these countries were given 10 thousand dollars to invest, would that be significant enough to escalate and quicken their development? What sort of improvements are achievable?

Reply to this comment »
ken says:

Even if they were given money to invest and improvise their economic system, depending on the type of leader they have the money given would either be invested leading to corruption or it would need more than just 10 thousand dollars.

Reply to this comment »
Jenny says:

We could open foundation to help. They don't really need much, giving them free education will go a long way

Reply to this comment »
Harlan says:

No. Sadly, some of these countries would need billions for full revival. It really is saddening watching all these countries fall so far below the poverty line.

Reply to this comment »
In reply to Harlan's comment, Oliver says:

That is a good point however most of these countries were doomed from the start, mostly because of the lack of trade and and transport. Rivers are a very important factor in the development of a nation

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