TOP 10 poorest countries in the world 2018

The ranking of the world’s poorest countries is once again dominated by African countries, according to an analysis by Global Finance Magazine.

The ranking was is based on data from the International Monetary Fund.

The magazine ranked the world’s countries according to their gross domestic product (GDP) based on purchasing power parity (PPP) per capita.

The PPP takes into account the relative cost of living and the inflation rates of the countries to compare living standards among the different nations.

Most of the countries populating the top of this ranking are under authoritarian regimes where corruption is rampant. This a big deterrent to foreign investors, even if some of those countries have huge amounts of natural resources.

The GDP per capita listed represents the amount of wealth produced  and is expressed in international dollars.

10. Madagascar — GDP per capita: $1,504 (£1,226)

Reuters

9. Eritrea — GDP per capita: $1,321 (£1,077)

Dan Kitwood/Getty Images

8. Guinea — GDP per capita: $1,271 (£1,036)

REUTERS/Luc Gnago

7. Mozambique — GDP per capita: $1,228 (£1,001)

REUTERS/Mike Hutchings

6. Malawi — GDP per capita: $1,139 (£929)

Wikimedia/Brian Dell

5. Niger — GDP per capita: $1,113 (£907)

  jeanot/Flickr

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