Despite the fact that in recent years the country’s economy has been strengthening, Bulgaria remains one of the poorest European countries. GDP per capita is only 40% of the 2010 European average, according to Eurostat. For this reason, we have listed the 13 poorest countries in Africa. Moldova is a land-locked country in Eastern Europe and the poorest in Europe, with a GDP per capita of USD 2,289. Currently, Moldova is the poorest country in Europe as per updated list 2020. By 1999, the GDP of Ukraine fell to less than 40% of what it was in 1991. The State Of Europe – Richest And Poorest Countries In The Continent ... Tourism makes about 9% of the Austrian GDP with the country earning $18.9 billion from the industry in 2007. Between 2006 and 2011, when many countries in Europe felt the effects of the recession, Belarus's expenditures among its bottom 40% of people increased. List of Poorest Countries in Europe 1. It has the lowest GDP as well. The population of this country is around 16 million. Moldova. The consistent Bulgarian presence in the poorest of the European countries has been an anomaly given the country’s strong non-Euro currency. It has a nominal GDP rate of 2194 and it has struggled a lot to attain its current free market economy. It was a part of the Soviet Union and in the year 1991, it gained independence after the dissolution of the Soviet Union. About 30% of Kosovo's population falls below the poverty, meaning that about 550,000 people live in poverty. It was not till 1996 that the GDP of the country began to recover. Since then, the economy has been improving but even in 2014, the GDP of Ukraine was yet to reach the historical maximum. Despite having the highest GDP growth rate in Europe, Moldova is among its poorest states, and also has Europe's smallest GDP per capita. Moldova is an Eastern European landlocked nation that is bordered by Ukraine and Romania. Bosnia and Herzegovina 6. Montenegro's per capita GDP is $7,669. The actual purchasing power of any currency is the quantity of that currency needed to buy a specified unit of a good or a basket of common goods and services. Urban expansion and deforestation have eroded the country's natural resources, making it vulnerable to resource depletion. The first non-African country on the list is Haiti, ranked 14th. 2.The poorest country in EU is Bulgaria. Additionally, working-age men were the largest group to perish during the war, causing one-in-four households to be headed by women. Despite this, West Wales is the poorest part of the UK and Wales gets the largest amount of EU funding. List of Poorest Countries in Europe 1. GDP per capita is $ 8,652. Montenegro. According to IMF methodology, GDP is expressed in current US dollars per person and the data is derived by first converting GDP in national currency to US dollars and then dividing it by total population. The poorest region of Britain, according to Eurostat, is west Wales, with a GDP per capita expressed in purchasing power standards (PPS) of 64 in 2011. 72% of the people of the country have reported that they manage their living standards with difficulty. While the UK currently enjoys a relatively high ranking among Europe’s wealthiest countries, how it will fare after its planned withdrawal from the European Union in 2019 is still in question. About 25% of Serbians are impoverished. During the 1990s, a number of poor economic reforms, the abolition of autonomous institutions, reduced access to external trade and finance severely damaged the already weak economy of Kosovo. Montenegro’s GDP per capita was only 41% of the average of the European Union in 2010 according to Eurostat. POOREST EU COUNTRIES (Below USD 30,000) Lithuania (29,881) Estonia (29,501) Portugal (28,515) Have you ever wanted to see where not to live in Europe? Moldova. Since then, however, the country has recovered better than most Balkan countries but still the growth of the economy of Bulgaria continues to be weak. Serbia is located at an intermediate position between Southeast and Central Europe. Here the list, based on the per capita GDP (PPP), usually dividing the country’s total GDP by the population. Bosnia and Herzegovina is located in the Balkan Peninsula. As a member of the EU, Austria has attracted a lot of foreign direct investment and access to the European market. Get short URL ... claiming it had never carried it out and that it does not consider Ukraine to be the poorest country in Europe. After experiencing eight years of strong economic growth, the country’s economy entered a period of recession in 2009. Only a few people are living above it. Country GDP: $3,093,647,227 Population: 11,179,000 Government type: Republic . Values are expressed in current international dollars, to the nearest whole While most of the countries of Europe are very well-developed and have GDP per capita higher than the world average, a few nations still need to perform exceedingly well to catch up with these European leaders. Poorest Countries in Africa Poorest … The country is bordered by Serbia, Croatia, and Montenegro. Europe is the world's second-smallest continent, spanning 10,180,000km² (3,930,000 square miles). GDP-PPP makes for a better comparison of living standards, because PPP takes into account cost of living and inflation rates, rather than just exchange rates, which may distort the real differences in income. World War I and World War II damaged the European economy. Most forecasts predict a recession, and best-case scenarios anticipate an economic contraction of 5 to 10 percent, inflation, and half a million unemployed. With a per capita GDP of $2,639, Ukraine is the second-poorest country in Europe. 1.The poorest country in Europe is Moldova. After losing its primary market, the Soviet market, in the 1990s, the attempt to establish a democratic government and a free-market economy further destabilized Bulgaria's economy. Here are the 10 poorest countries in Europe. In 2009, the nominal GDP of the country was $4.114 billion USD. Moldova which is a landlocked country located in South-Eastern Europe is the poorest with a GDP (PPP) per capita of 5,998 USD while Luxembourg is the richest with a GDP (PPP) per capita of 110,870 USD. 2. In the list of the poorest countries in Europe, Georgia comes at number 4. In short, the country is not only an unpopular one, it also happens to be one of the poorest in the world. 540 euros in Portugal against 1,060 euros in Germany: the poverty lines, calculated according to the median standard of living in each country, vary widely in Europe. The country's per capita GDP is $6,283. Like many other former Soviet republics, Belarus faced an economic crisis after the fall of the Soviet Union and the government of independent Belarus then adopted a way to overcome the crisis. Ukraine is Europe’s poorest nation with $220 average monthly wage 11 Dec, 2017 10:06 . Ukraine is the second poorest country in Europe and it is also located in Eastern Europe. The country with the lowest amount of people living below the poverty line is Austria at four percent, and the highest is Greece at 36 percent. The Poorest Countries In Europe 9/03/2020 ... is a few geopolitical time period used for grouping the three countries on the jap coast of the Baltic Sea in Northern Europe. With a per capita GDP of $2,639, Ukraine is the second-poorest country in Europe. Developed and some weak countries for per capita of European countries Ionian Sea and the poorest country in –... 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