Asia is the one of the largest as well as most populated continent on the globe. It has almost 4.5 billion population. Asia is covering nearly about 30% of the world total area. It consisting on total 48 countries with three countries sharing border with Europe continent. Here is the detail article on poorest countries in Asia.
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The Asia continent based on too many influential countries. Most famous nations in Asia are Japan, Pakistan, Indian, China, and South Korea. These are well-known countries across the world. China has its own identity now days. It is the most populace as well as second strong country in the world with respect to economy. India is the fifth powerful economy in the world. In addition, India, Pakistan, and China are amongst the 9 atomic power countries in the world.
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However, there are large no. of countries that are not prosperous in Asia continent. There are large no. of people in Asia Continent that are not living up to the standard life. Asia has lot of poor nations. GDP of numerous Asian countries is too low. GDP per capita is the key factor or symbol to measure the living standards of people in the country as it shows the avg. wealth of each person.
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Below is the list of top 10 poorest nations in the Asia Continent
List of 10 Poorest Countries in Asia by GDP 2021
- North Korea
What’s the poorest country in Asia 2021?
Currently, North Korea is the poorest nation in Asia continent.
1- North Korea
Based on recent 2020 data of IMF, North Korea is the poorest country in Asia continent with lowest per capita GDP $651.
Scarcity in North Korea is credited to poor authority by the authoritarian management. The free market is approximately non-existent in North Korea. In 2020, it is estimated that around 60% of North Korea’s populace breathes beneath the poverty stroke.
Among the 10 poorest countries in Asia, Nepal stands at second position. It is the second poorest country in Asia with per capita income $718. Main reason behind Nepal poverty is corruption. However, it has also little industry in the country. It totally depend on agriculture. Although, Nepal is one of the countries that are enrich in natural resources. Nevertheless, it has lack of leadership that led these resources to generate some massive economy.
Among top 10 poorest countries in Asia, Tajikistan ranked at no.3 in the list. It also has very low GDP per capita that is just $729. There is minor difference in Nepal and Tajikistan GDP per capita income. Many skilled patriotic people leave the poor country to live a lavish life in some other rich countries. Same is the case with Tajikistan. It leaves a huge gap and taking the advantage the incapable people commands on good positions in poor nations. In addition, one of the key factor of poverty in Tajikistan is to keep the child’s away from education. They have very low literacy rate as well. Literacy rate is a very solid factor to reduce poverty.
Yemen is also an unfortunate country that is in the list of poorest countries. It is ranked fourth in the Asian poorest countries. The poverty in Yemen is mainly due to the civil war. The country has lost too much after this civil war. Most of the Yemen nation are living now below the poverty line.
About 79% of the population lives under the poverty line, and 65% categorize as enormously deprived.
Kyrgyzstan is the fifth Asian poorest country. It has GDP per capita income $1,004. Likewise, Nepal Kyrgyzstan also mainly depends on agriculture. This is the reason why it is unable to generate too much income. Kyrgyzstan can only export tobacco and cotton to other third world countries. Anyhow, it is also unfortunate about the natural resources. There are also few other factors like absence of banking system that cause obstructions in economic growth.
As the sixth-poorest country in Asia, Cambodia’s GDP per capita is $1,197. Cambodia has very insufficient social incomes and prevalent income dissimilarity. Regardless of current financial accomplishments, the country struggles with poverty, and the regime has done little to dimensions the essential arrangement required to lift millions of its people out of scarcity.
Although, recently Cambodia has achieved some significant economic growth. However, there is still poverty in Cambodian nation. Recently, Cambodian govt. has taken few amazing steps to wipe-out the poverty.
Myanmar is the 7th poorest country in Asia continent with per capita income $1207. With rough estimation almost 30% of the people lives under poverty. The mainly reason behind poverty in Myanmar is unrest within the country. The Myanmar govt. has conflicts with the minorities especially, with Muslim community. In addition, other few significant factors that are slowing down the country economic growth are lack of country natural resources, less or no foreign investment.
Regarding to per capita GDP of $1,266, Syria is on eighth-poorest Asian country. Near 80% of Syrians breathing at or below the poverty level since 2017, a 45% increase since 2007. The goal for the high-pitched rise in poverty is for the reason that of the Syrian Civil War.
The battle has ruined well-being care groundwork and education establishments and universities. Education is one of the finest conducts out of poverty, and approximately 50% of Syrian children no longer go to school for war reason. In topical ages, Syria has also knowledgeable very high levels of deflation, accomplishment its uppermost level of 121.29% in 2014.
Pakistan is also an unfortunate country that stands out in the poorest Asian nations list. However, country blessed with lot of natural resources, talented people, and significant historical landmarks. Forbes also declares Pakistan as the top 10 tourist destinations in the world in 2020. Because of ideal geographical location there are too many projects are under construction. China and Pakistan are working together on many projects under CPEC (China Pakistan Economic Corridor).
In addition to all above, it’s unfortunate for Pakistani nation that are still living in poverty. It is due to lot of defense/ military expenses. Pakistan and India are spending too much budget on their defense. Many of the people in Pakistan living below poverty line roughly estimate about 40%.
The reason behind spending too much budget on military is because of Jammu and Kashmir issue. Both countries had fought three wars for this territory. India had occupied the region and almost 1 million army is deployed there.
By finishing the list ten poorest countries in Asia is India, that has a per capita GDP of $1,637. Regardless of abstaining the fifth-largest frugality internationally in expressions of GDP, approximately 21% of India’s inhabitant’s 269 million individuals survives beneath the shortage stroke. Foundations for scarcity in India comprise illiteracy, femininity judgment, unsatisfactory circulation of prosperity, and the cumulative populace.
It has the same reason for poverty as described above for Pakistan. India also spend too much budget on military expenses.