In this article we are going to list the 10 least developed countries in the world. For a detailed coverage of this topic and a more comprehensive list please take a look at the 25 least developed countries in the world.
10. Somalia
Life expectancy at birth (in years): 55.3
Mean years of schooling: –
Gross national income per capita: $1,018
Somalia has seen more conflict than most, with decades of political fragmentation and civil war devastating the country and its economy. Nearly 70% of Somalians live in poverty, and with conflicts showing no signs of abating, the future doesn’t look very bright either.
9. Guinea-Bissau
Life expectancy at birth (in years): 59.7
Mean years of schooling: 3.6
Gross national income per capita: $1,908
Home to forests, fisheries, agricultural land and natural habitats, you would expect Guinea-Bissau to have a much more developed economy. On the positive side, the country is using digital technology to improve the lives of citizens.
8. Burundi
Life expectancy at birth (in years): 61.7
Mean years of schooling: 3.1
Gross national income per capita: $732
Burundi is home to a low income population where nearly all of the population is employed in agriculture, and the country is also one of the most densely populated countries in the world.
7. Niger
Life expectancy at birth (in years): 61.6
Mean years of schooling: 2.1
Gross national income per capita: $1,240
Niger’s economy is not very diversified with more than 40% of its GDP being derived from agriculture. Nearly 42% of the population or more than 10 million people live in extreme poverty in the country.
6. Guinea
Life expectancy at birth (in years): 58.9
Mean years of schooling: 2.2
Gross national income per capita: $2,481
While Guinea has large reserves of natural resources, arable land and energy opportunities, the country is still among the least developed countries in the world.
5. Mali
Life expectancy at birth (in years): 58.9
Mean years of schooling : 2.3
Gross national income per capita: $2,133
Poverty has significantly restricted Mali’s attempt to progress its economy. Only 2.3 mean years of schooling mean that illiteracy is quite high in the country while a slowly developing economy means that unemployment is rife as well. High population growth is another issue faced by Mali as its already meagre resources will be divided among a larger population which is why more jobs need to be created.
4. Burkina Faso
Life expectancy at birth (in years): 59.3
Mean years of schooling : 2.1
Gross national income per capita: $2,118
The Sahelian country has limited natural resources where the economy is based on agriculture, while more than 40% of the total population lives below the poverty line. In early 2022, a coup took place in Burkina Faso, which resulted in the African Union and Economic Community of West African States suspending the country from decision-making bodies. The nation has also struggled with terrorist attacks which have ensured that instability persists in the region.
3. Mozambique
Life expectancy at birth (in years): 59.3
Mean years of schooling: 3.2
Gross national income per capita: $1,198
21 out of our 25 least developed countries are based in Africa, showing that a lot of work needs to be done in the continent to improve the standards of living in most countries there. Mozambique suffered a devastating cyclone back in 2019 and the company has struggled to recover since. Mozambique has vast natural resources and farmland so it does have potential to recover and develop further.
2. Central African Republic
Life expectancy at birth (in years): 53.9
Mean years of schooling: 4.3
Gross national income per capita: $966
According to the World Bank, more than 70% of the population of Central African Republic lives well below the poverty line. In the rankings compiled by Human Development Index, Central African Republic ranked 188 out of 189 countries.
1. Chad
Life expectancy at birth (in years): 52.5
Mean years of schooling: 2.6
Gross national income per capita: $1,364
Topping the list of the 25 least developed countries in the world is Chad, which is also among the poorest countries in the world. The economy of the country as well as its social performance are largely to blame for the lack of development, which in turn are due to a lack of implementation of the law and fragility of institution.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also check out our articles on 25 Most Technologically Advanced Countries and Top 20 Industries in the World.
