- Solomon Islands
Total GDP (in billions): $1.6
GDP Per Capita: $2,305
5 Year CAGR: 2.1%
The Solomon Islands are a group of islands in the Pacific Ocean with a small and underdeveloped economy. Solomon Islands has been considered among the poorest countries in the world due to political unrest, natural disasters and a lack of access to education. More than three quarters of the labor force in this island nation is engaged in subsistence farming and fishing.
- Benin
Total GDP (in billions): $17.1
GDP Per Capita: $1,319
5 Year CAGR: 6.2%
Benin is a country located in West Africa, bordered by Togo to the west, Nigeria to the east, and Burkina Faso and Niger to the north. It is situated on the coast of the Gulf of Guinea and has an area of approximately 112,620 square kilometers. The capital of Benin is Porto-Novo, but the largest city is Cotonou. Benin is a former French colony and is home to a diverse population with a rich cultural heritage. Around half of Benin’s population is employed in the agriculture sector which is quite vulnerable. However, its GDP improvement shows that the country is on track to improve. In 2021, the economy of Benin experienced a strong recovery argely driven by the services and construction sectors, with an estimated growth rate of 7.2%.
- Uganda
Total GDP (in billions): $40.5
GDP Per Capita: $884
5 Year CAGR: 5.7%
Uganda is a landlocked country located in East Africa, bordered by Kenya to the east, South Sudan to the north, the Democratic Republic of Congo to the west, and Rwanda and Tanzania to the south. It has an area of approximately 236,040 square kilometers. The capital of Uganda is Kampala, which is also the largest city in the country. Uganda is home to a really complex land system which has resulted in uneven land distribution and unequal spread of resources. Uganda is a significant producer of coffee, with the country exporting a variety of coffee beans to countries around the world.
- Zambia
Total GDP (in billions): $22.1
GDP Per Capita: $1,137
5 Year CAGR: -3.1%
Zambia is a landlocked country located in Southern Africa, bordered by Angola to the west, the Democratic Republic of Congo to the north, Tanzania to the north-east, Malawi to the east, Mozambique to the south-east, Zimbabwe to the south, and Botswana to the south-west. The country has been mired in major external debt which is a significant reason behind its poverty. One of the main factors contributing to Zambia’s debt problem is the country’s reliance on borrowing to finance its development projects and infrastructure. This has led to a large increase in the country’s external debt, which has put pressure on the government’s ability to pay its debts and meet its financial obligations. In addition, the country has faced economic challenges, including a decline in the prices of its main exports and a slowdown in economic growth, which have made it more difficult for the government to repay its debts.
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