Freetown, Sierra Leone — A recent report highlights the significant economic challenges facing Sierra Leone, placing it among the world’s poorest countries by GDP per capita in 2024.
According to data compiled by Insider Monkey from the International Monetary Fund (IMF) and the World Bank, Sierra Leone ranks seventh, with a GDP per capita of $526 and a population of 8.6 million.
This economic struggle is part of a broader trend affecting Sub-Saharan Africa, where 534 million people live in poverty, contributing to a global total of nearly 1.1 billion poor individuals.
The COVID-19 pandemic has exacerbated economic difficulties, leading to widespread impoverishment and economic dysfunction across the continent.
The United Nations Development Programme’s (UNDP) 2023 Global Multidimensional Poverty Index underscores the severity of the situation, measuring poverty through GDP per capita adjusted for purchasing power parity (PPP). This metric provides a more accurate assessment of individual buying power by accounting for differences in living costs and inflation rates.
Other countries listed among the world’s poorest include Burundi, Afghanistan, Syria, South Sudan, Malawi, Yemen, the Central African Republic, Madagascar, and Sudan. In stark contrast, the average yearly per-capita purchasing power in the world’s richest countries exceeds $110,000, while in the poorest countries, it is less than $1,500.
Despite these challenges, there are signs of hope.
According to Abebe Aemro Selassie, Director of the African Department at the IMF, pivotal decisions by Sub-Saharan Africa’s central banks have led to a significant reduction in inflation during the early months of this year. This development is particularly encouraging in a region that has faced an acute cost-of-living crisis in recent years.
See full list of the 10 poorest countries by GDP per capita in the world below:
Country GDP Per Capita (2024) Population
1. Burundi $230 13.23 million
2. Afghanistan $353 41 million
3. Syria $421 22.13 million
4. South Sudan $422 11.08 million
5. Malawi $480 20.87 million
6. Yemen $486 35 million
7. Sierra Leone $526 8.6 million
8. Central African Republic $537 5.6 million
9. Madagascar $538 29.61 million
10. Sudan $547 46.87 million
