Extreme poverty in the world is shrinking 2020

740 million people live on less than $ 1.90 a day. The number of extremely poor people is increasing in sub-Saharan Africa, while it is declining in other regions of the world. This article will let you know about poverty shrinking stats in 2020.

The number of people living below the extreme poverty line (1.90 dollars per day per person or 1.70 euros) worldwide has decreased by just over a billion in thirty years, passing from 1.9 billion in 1984 to 736 million in 2015 , according to World Bank estimates. 

Also Read: Poorest Countries in the World

Poverty in the World Shrinking

This development is all the more impressive since, at the same time, the world population has grown from 4.5 to 7.4 billion people. The rate of extreme poverty has been divided by almost four: 10% of the world population lives today on less than $ 1.90 a day, against 39% in 1984. This is four times less.

As a proportion of their population, all developing regions have seen extreme poverty fall over the past 30 years , even though they face often considerable demographic pressure. The share of the population living below the threshold of $ 1.90 per day has fallen below 5% in Asia, Latin America and the Middle East. In East Asia and the Pacific, the decline is dramatic. 

In 2015, 47 million people live there on less than $ 1.90 a day, which represents 2% of the population, compared to over 1 billion in 1984 (70%). China and Indonesia are the countries that have contributed the most to this phenomenon.

Sub-Sharan Africa Poverty Shrinking

Sub-Saharan Africa – which was said to be doomed to underdevelopment – has seen its poverty rate decrease, even if this movement is slower. The share of the population affected by extreme poverty has fallen by eight points in thirty years (41% in 2015 against 49% in 1981). 

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On the other hand, the number of extremely poor people continues to increase. Because of the overall increase in the population. It went from 229 million in 1981 (according to our estimates) to 278 million in 1990 and to 413 million in 2015. Today, 56% of all the extremely poor people in the world live in sub-Saharan Africa. In the 1980s, East Asia and the Pacific was the most affected region.

Out of poverty?

Can we say that all the people who live on more than two dollars a day are no longer poor? If we retained a threshold at 5.50 dollars per day (150 euros per month), our conclusions would be very different: 3.4 billion people would be affected, or almost half of the world population, more than at the beginning 1980s.

Economic development has helped to resolve the most extreme deprivation in many parts of the world, but it has not erased poverty, far from it. The exit from an economy of pure self-subsistence of part of the peasantry of the countries of the South has increased their monetary needs. Living conditions have improved in many areas (housing, food, health, education, etc.), but to benefit from it, you need to have minimal cash income. In countries where the middle and better-off have grown richer, the gap between them and the poorest has often even widened.

Poorest Countries in the world list 2020

Here is the list of 25 Poorest Countries in the World and GDP Per Capita 2020 list

RankCountryGDP per capita in current US dollars in 2020
1South Sudan236
4Central african republic441
8Democratic Republic of Congo495
9Sierra Leone517
14Burkina Faso744

The above detail and complete article helped you to gain the information about how the world poverty shrinking and its significant statistics 2020.

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