- Liberia
Total GDP (in billions): $3.5
GDP Per Capita: $676
5 Year CAGR: 0.7%
In the last 35 years, two civil wars have taken place in Liberia, which have greatly devastated its economy. Here is what Worldbank said about Liberia:
“After contracting by 3.0% in 2020 due to the COVID-19 pandemic, growth recovered to 5.0% in 2021. The rebound was driven by improved external demand, higher prices for Liberia’s main exports, and the resumption of normal domestic activity. Meanwhile, growth slowed in the first half of 2022, even if mining and construction continued to perform well. In agriculture, rubber and cocoa production dipped by 13.5% and 27%, year-on-year, respectively. In the industrial sector, iron ore, gold, and cement production all increased, reflecting firmer international prices and an uptick in construction activity. However, services growth fell, as reflected in the decline in beverages and electricity production.”
- Gambia
Total GDP (in billions): $2.0
GDP Per Capita: $772
5 Year CAGR: 6.3%
Gambia is a small country, about 10% smaller than Connecticut but with a population of 2.5 million. While it is still among the poorest countries in the world, Gambia, which is heavily dependent on agriculture, has displayed a very healthy CAGR over the past 5 years, which might make it ripe for investment.
- Guinea-Bissau
Total GDP (in billions): $1.6
GDP Per Capita: $795
5 Year CAGR: 3.9%
The country gained independence from Portugal in 1974 but has suffered from political instability since.
- Somalia
Total GDP (in billions): $7.6
GDP Per Capita: $447
5 Year CAGR: 6.3%
Somalia has faced decades of civil war, which is one of the primary reasons why it is still one of the poorest countries in the world.
- Sierra Leone
Total GDP (in billions): $4.0
GDP Per Capita: $480
5 Year CAGR: 1.7%
Sierra Leone has failed to develop at a rapid pace due to government corruption, lack of civil rights, poor infrastructure and lack of a proper educational system.
- Central African Republic
Total GDP (in billions): $2.5
GDP Per Capita: $461
5 Year CAGR: 4.0%
While the Central Africa Republic has seen improvement in recent years, it still needs to do a lot more to climb out of this list, with a lack of accountability and poor implementation of regulations being some of the reasons that the country has struggled to progress.
- Burundi
Total GDP (in billions): $2.8
GDP Per Capita: $221
5 Year CAGR: 0.5%
Topping the list of the 50 poorest countries in the world is Burundi, which has suffered massively because of internal conflict and corruption. In May 2015, a coup was attempted which failed and the country has struggled to improve since, reflected by a meagre CAGR of 0.5% over five years.- InsiderMonkey
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