What is the poorest country in the world OR what is the richest country in the world. It cannot be decisive devoid of the appropriate study of the world’s economic system. So it is a great deal to have a correct study concerning to wealth, living standard, per capita income and lots of other factors in order that the country’s financial position can be ascertained. There are two foremost methods to determine the prosperity of a country and how rich or poor the inhabitants are.
The 1st technique which is frequently used to determine the economy is Gross domestic product (GDP) which shows the wealth of the concerned countryside. Furthermore per capita GDP is premeditated which shows the average savings of an individual of a country.While on the other hand GDP and per capita GDP are not more productive when the economical comparison is made stuck between the international levels as GDP is measured into the home currency of the concerned country. So a substitute measure which the majority of economists favor is GDP at purchasing power parity (PPP). This technique merely makes a thorough comparison among the living standards of diverse countries as PPP emphasizes on the cost of living and inflation rates of the countries as an alternative of using solitary exchange rate of the countries which may distort the real differences in the income of the concerned country.
List of Top 10 Poorest Countries in the World By GDP
Question of the Day
|Q : Did you know what is the poorest country in the world ?|
|Ans : Different authentic and verified sources showed the Congo as the poorest country in the world because it has the cheapest and lowest economy in the world. There is no proper rules and regulations regarding to law and it is also considered a dangerous country in the world for living.
Also See :
- Top 10 Richest Countries in the world
- USA economy in the World
- Top 10 European Countries by highest population