From the poetic verses of Kazi Nazrul Islam to the melodies of Lalon, Bangladesh has a rich cultural and artistic legacy. The annual Pohela Boishakh celebrations encapsulate the nation’s spirit and unity. Pakistan’s history is intertwined with ancient civilizations like the Indus Valley and empires like the Mughals.

1. Bangladesh has a per capita GDP of $4,200, making it one of the poorest countries in Asia.
2. It is the fourth-largest country by population with a total of 275,122,131 residents, of which 5.31% are unemployed and 9.4% are below the poverty line.
3. Like many Arab nations, Syria’s history of conflict has caused problems in its economy.
4. See Jolliffe ⓡ al. (2022) for the technical analysis underpinning all these poverty lines of the World Bank.
5. Nestled amidst the mighty Himalayas, Nepal is a land of stunning landscapes and rich traditions.

The Poorest Countries in Africa

Many poor people today, as in the past, rely on subsistence farming rather than a monetary income gained from selling goods or their labor on the market. To take this into account and make a fair comparison of their living standards, the statisticians that produce these figures estimate the monetary value of their home production and add it to their income/expenditure. For instance, joining a friend’s birthday celebration without shame might require more resources in a rich society if the norm is to go for an expensive meal out, or give costly presents. This lining-up is generally done on the assumption that household incomes or expenditure grow in line with the growth rates observed in national accounts data. You can read more about the interpolation methods used by the World Bank in Chapter 5 of the Poverty and Inequality Platform Methodology Handbook. Surveys are not conducted annually in every country however – coverage is generally poorer the further back in time you look, and remains particularly patchy within Sub-Saharan Africa.

Azerbaijan – Int$ 13,909

The introduction of annual line-up poverty numbers makes it easier to compare changes over time, as it standardizes the distance between line-up years instead of gaps of one, two, or three years. This was not apparent from the line-up years available previously which included 1996 and 1999, but not the years in between (e.g., 1998). Cambodia is an example of a country whose economy was severely affected by the history of corruption within its government. Cambodians are beginning to earn higher incomes thanks to positive changes in their economy overtime. Generally, poverty has been falling historically, except during periods of large crises. However, South Asia experienced a recovery from the COVID-19 pandemic in 2021, with poverty reducing from 13.1% to 10.9%, while Latin America and the Caribbean experienced an uptick in extreme poverty.

Southeast Asian Countries

Located in Southeastern Asia, the Philippines is the 16th poorest country in Asia with a GDP per capita of Int$ 9,061. The country has a growing public debt of 63.6% and a real GDP growth rate of 6.9% that is influenced by a weak business climate and corruption. Although the country is the fifth-largest cotton industry, its economy weakened due to slow trades in Russia and China.

East Timor

Singapore’s port is one of the busiest globally, and its financial sector is a hub for international banking and trade. The government’s emphasis on research and development has also made Singapore a hotspot poorest country in asia for tech startups and multinational corporations. From the bustling streets of Singapore to the tranquil mountains of Nepal, Asia’s economic landscape is as varied as its topography. In this article, I’ll take you on a journey through the richest and poorest countries in Asia as of 2024, providing insights from my travels and experiences.

The country is facing numerous economic challenges including unemployment and underemployment, public debt, and refugee crisis as a result of Syria’s ongoing civil violence. The oil industry accounts for 85% of revenue but would need further improvements in processing and infrastructure. However, the government is making efforts to improve tax reforms and infrastructure.

You can see that visualized in our chart of the number of surveys included in the World Bank data by decade. To understand how incomes across the world compare, researchers need to rely on available national surveys. Over the past two centuries the world made good progress against extreme poverty. This is the goal of the International Poverty Line of $2.15 per day – shown in red in the chart – which is set by the World Bank and used by the UN to monitor extreme poverty around the world. Out of the total population, 3.64% are unemployed and 0.6% are below the poverty line. Sri Lanka supports its economy with 61.7% services, 30.5%$ industry, and 7.8% agriculture.