10 Poorest Countries in the World

7. 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.”