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An important economic metric that measures the average income of a nation’s population is its Gross Domestic Product (GDP) per capita. Although it is not the only indicator of a country’s success, it offers important information on the general economic well-being of a population.
The lives of its residents are significantly impacted by a variety of linked problems that are frequently faced by nations with low GDP per capita. The implications of low GDP per capita are vast and varied, ranging from restricted access to basic services to constrained growth potential.
GDP per capita is a calculation that divides a country’s total economic output, or GDP, by its population. The resulting figure offers an approximation of the average economic output per individual in the country. This measure enables a more comprehensive evaluation of economic performance beyond the overall GDP, as it accounts for population size.
GDP per capita estimates vary greatly between nations, and even within a continent, there can be a huge difference between one nation and another. This is reflected in the economic realities of Africa.
Africa has a significant GDP per capita discrepancy. On one end of the scale, nations with robust tourist and service industries, like Seychelles and Mauritius, may boast relatively high GDP per capita rates, but on the other end, we have countries such as Burundi and Mozambique, whose GDP per capita reflects the despondent economic reality of the people.
Below are the African countries at the low end of the spectrum, countries on the continent that boast ten of the lowest GDP per capita figures.
This list is courtesy of TradingEconomics, a data platform that offers its customers precise data for 196 nations, including historical data and projections for more than 20 million economic indicators, currency rates, stock market indices, government bond yields, and commodity prices. The figures represent GDP per capita as of December 2022. Business Insider Africa
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