To get a glimpse of the general life in a specific country, one has to analyze its revenues. Whereas this can be achieved nationally using various statistics like the Gross National Product (GNP) and Gross Domestic Product (GDP) per country, analyzing income per person using indicators including GNI per capita or GDP per capita is recommended.
Generally, middle- and low-income nations seem to be developing and underdeveloped nations. whereas high-income nations seem to be the developed countries with high living standards.
South American countries have normally been associated with poverty, with almost 80% of their citizens living below the poverty line. This article will reveal to you the poorest countries in South America, including Bolivia, Suriname, and Paraguay, according to their GDP per capita.
Let’s roll on.
Top 10 Poorest Countries in South America by GDP Per Capita (Current US$)
If you’re looking for information about the poorest nations in South America, you’ve come to the right place. Keep reading.
What will be the poorest country in South America in 2023?
Here is a list of the poorest countries in South America in 2023, from the least to the fairest.
1. Bolivia: $3,414.9
Bolivia is among the poorest countries in South America according to GDP per capita (current US dollars). Over 80 percent of its population is in the poor and extremely poor categories. With a population of nearly 10,907,778 people, the majority of the nation’s citizens are involved in small-scale subsistence agriculture. However, there isn’t enough cohesion among farmers to synergize production to boost their exports and income.
Similarly, regular water shortages affect the production of Bolivia’s stumbling agriculture, and because there is little in the ground to remedy this natural phenomenon, poverty is inevitable.
Additionally, Bolivia’s children tend to drop out of school and work as laborers in farms and sweet shops. This has prompted the government to offer incentives to keep the scholars in school.
2. Suriname: $3,836.3
Suriname is a nation found in northeastern South America. It borders Guyana, French Guiana, the Atlantic Ocean, and Brazil. It’s a small country, measuring 165,000 square kilometers, with a population of close to 575,990. In South America, Suriname is the smallest sovereign state and is close to the Netherlands. Other than the Netherlands, it’s the only place where Dutch is used as an official language.
Suriname is a poor country, to the extent that its people don’t enjoy quality lifestyles. Its economy largely relies on the exportation of its vast minerals. This mining venture offers unreliable job openings because the minerals are exported in their raw forms.
3. Paraguay: $5,400.1
Paraguay is a country located in the middle of the continent, and it’s landlocked. It measures 406,796 square kilometers and is home to 7 million people. Almost half of the population lives in the capital city of Asunción, while the remainder lives in rural areas.
Given that half of its population lives in rural areas, many people would expect that agriculture is its main economic activity.
On the contrary, agriculture represents only 30 percent of Paraguay’s gross domestic product. Due to the prevalent income inequalities, the poverty level is very high. According to official figures, 5% of landlords own 90% of the land and control the agricultural sector.
This compels the poor to work for wealthy landlords who offer them higher wages. It’s blessed with some minerals, which can’t be utilized due to unstable politics.
4. Ecuador: $5,934.9
Ecuador is a South American country located on the northeastern side of the continent. Ecuador is a relatively small country, measuring 256,370 square kilometers with a population of almost 17,715,822. It similarly encompasses the Galapagos Islands in the Pacific Ocean, close to 1,000 kilometers away from the continent.
Ecuador is a poor country; an incredible portion of its population lives in poverty. Income inequality is prevalent in the country. Agriculture and petroleum resources play a key role in the country’s economy, although they aren’t within the reach of ordinary citizens.
Similarly, the nation’s tourism sector is growing, particularly on the Galapagos Islands, but employment in the industry isn’t properly controlled. Hence, the working conditions aren’t standardized.
5. Colombia: $6,131.2
Colombia is a nation in the northern part of South America, neighboring Venezuela, the Caribbean Sea, Brazil, Peru, and Ecuador. Colombia enjoys a rich cultural heritage, comprising a variety of cultures, including Europeans, Amerindian civilizations, and African slaves. It’s a vast country, measuring almost 1,141,748 kilometers squared, with 50 million people.
A larger portion of its people are extremely poor due to high-income inequality. Approximately 15% of the population is involved in agriculture, while another 19% work in the sector. However, sometimes their wages can’t sustain them and their loved ones.
6. Peru: $6,692.2
Peru is a country on the western coast of South America. Peru borders Ecuador, Colombia, Bolivia, Brazil, Chile, and the Pacific Ocean. Peru is a large country extending into the Andes Mountains, measuring 1,285,216 km2 with a population of close to 34 million people.
Regardless of being classified as a middle-income economy, Peru is still a poor country. There are several cases of underemployment as well as unemployment. Its agricultural sector is responsible for roughly 7 percent.
The mainstay of Peru’s economy is the service industry; however, the wages are so low compared to those paid in other nations.
7. Brazil: $7,518.8
Brazil is supposedly the most famous and extensive country in South America; it’s located on the eastern side of the continent. It covers 8.5 million kilometers squared and has a population of more than 211 million people. Brazil is the fifth-largest country in the world according to land size and the sixth according to the number of occupants. Brazil is well-known for its football and its beaches. Its coastline measures 7,491 kilometers, and it is comprised of beaches and seaports along the Atlantic Ocean.
Despite extensive petroleum resources as well as great potential in agriculture and mining, among other sectors, Brazil is among the poorest countries in South America due to its high unemployment rate. However, that doesn’t imply that the people are unproductive, but that most of them, especially those in Favelas, are involved in the informal economy.
They are largely poor because they get low wages, and they have no protections, including pensions and insurance. which can help improve people’s quality of life.
8. Guyana: $9,374.8
Guyana is a nation in the northern part of South America. It is a small country measuring 215,000 square kilometers and has a population of 743,700. Guyana is near the Atlantic Ocean, Venezuela, Brazil, and Suriname.
The reason why Guyana is poor is its lower employment rate of 12 percent. While a few parts of the country are doing well, citizens in the remaining parts lead poor lifestyles. Despite a mixed economy of sugar, rice, timber, gold, and textiles
9. Argentina: $10,729.2Â
According to earlier predictions, Argentina’s population was to reach 45.2 million people in 2020 and 50 million in 2033. The Argentinian population will then reach its peak of 57.94 million in 2079 and then gradually decrease.Â
Argentina’s population is increasing at a rate of 0.93%. Argentina’s population density is about 15 people per square kilometer. While it’s predicted that this will increase in the coming decades, it’s still below the world average of 50 individuals per kilometer.
The nation’s fertility rate is 2.24 births per woman, precisely above the population replacement rate of 2.1 births per woman. The birth rate is 16.736 births per 1,000 people, which has notably declined over the past few decades.
10. Venezuela: $16,055.6
Venezuela is often mentioned among the poorest nations in South America. There is severe poverty; estimates show that 3 out of 4 people in Venezuela live in poverty. Pictures coming from Venezuela indicate that the situation is so dire that people virtually gather in dumpsters searching for their next meal.
Venezuela’s poverty originates from an overdependence on oil proceeds and the economic sanctions imposed on the country by Western countries. This has led to food shortages and a healthcare problem, among other issues. Many industries have closed down, laying off workers and causing hard economic times.
The bottom line
The poorest countries in South America haven’t been able to entice investors to develop this possibility in their markets. Sometimes, this has been due to intentional government policies aimed at government ownership of all the wealth-creating companies.
This tendency has always delayed development, and if corruption exists, it leads to the exploitation of the people by those in power. Hence, many people live in poverty because smaller amounts of money are realized to get to the government treasury.Â
To get a glimpse of the general life in a specific country, one has to analyze its revenues. Whereas. this can be achieved nationally using various statistics like the Gross National Product (GNP), Gross Domestic Product (GDP) per country, analyzing income per person using indicators including GNI per capita or GDP per capita is recommended.
Generally, middle and low-income nations seem to be developing and under-developed nations. Whereas, high-income nations seem to be the developed countries with high living standards.
South American countries have normally been associated with poverty, with almost 80% of their citizens living below the poverty line. This article will reveal to you the poorest countries in South America including Bolivia, Suriname, and Paraguay, according to their GDP per capita.
Let’s roll on.
Top 10 Poorest Countries in South America by GDP Per Capita (Current US$)
If you’re looking for information about the poorest nations in South America, you’ve come to the right place. Keep reading.
What is the Poorest Country in South America in 2023?
Here is a list of the poorest countries in South America in 2023, from the least to the fair one
1. Bolivia – $3, 414.9
Bolivia is among the poorest countries in South America according to GDP per capita (current US$). Over 80 percent of its population is in poor and extremely poor categories. With a population of nearly 10,907,778 people, the majority of the nation’s citizens are involved in small-scale subsistence agriculture. However, there isn’t enough cohesion amongst farmers to synergize production to boost their export and income.
Similarly, regular water shortages affect the production of Bolivia’s stumbling agriculture, and because there is little in the ground to remedy this natural phenomenon; poverty is inevitable.
Additionally, Bolivia’s children tend to drop out of school, to work as laborers in farms, and sweets shops. This has prompted the government to offer incentives to keep the scholars in school.
2. Suriname – $3,836.3
Suriname is a nation found in northeastern South America. It borders Guyana, French Guiana, the Atlantic Ocean, and Brazil. It’s a small country, measuring 165,000 square kilometers, with a population of close to 575,990. In South America, Suriname is the smallest sovereign state and is proximate to the Netherlands. Other than the Netherlands, it’s the only place where Dutch is used as an official language.
Suriname is a poor country, to the extent that its people don’t enjoy quality lifestyles. Its economy largely relies on the exportation of its vast minerals. This mining venture offers unreliable job openings because the minerals are exported in their raw forms.
3. Paraguay – $5,400.1
Paraguay is a country located in the middle of the continent, and it’s landlocked. It measures 406,796 square kilometers and is home to 7m people. Almost half of the population stays in the capital city of Asunción, while the remainder live in rural areas.
Given half of its population is living in rural areas; many people would expect that agriculture is its main economic activity.
On the contrary, agriculture represents only 30 percent of Paraguay’s Gross Domestic Product. Due to the prevalent income inequalities, its poverty level is very high. According to official figures, 5% of landlords own 90% of the land and control the agricultural sector.
This compels the poor to work for wealthy landlords who offer them higher wages. It’s blessed with some minerals, which can’t be utilized due to the unstable politics
4. Ecuador -$5,934.9
Ecuador is a South American country, located on the northeastern side of the continent. Ecuador is relatively a small country; measuring 256,370 square kilometers, with a population of almost 17,715,822. It similarly encompasses the Galapagos Islands in the Pacific Ocean, close to 1,000 kilometers away from the continent.
Ecuador is a poor country; an incredible portion of its population lives in poverty. Income inequality is prevalent in the country. Agriculture and petroleum resources play a key role in the country’s economy, although they aren’t within the reach of ordinary citizens.
Similarly, the nation’s tourism sector is growing, particularly on the Galapagos Islands, but then the employment in the industry isn’t properly controlled. Hence, the working conditions aren’t standardized.
5. Colombia -$6,131.2
Colombia is a nation in the northern part of South America neighboring Venezuela, the Caribbean Sea, Brazil, Peru, and Ecuador. Colombia enjoys a wealthy cultural heritage, comprising a variety of cultures including Europeans, Amerindian civilizations, and African slaves. It’s a vast country measuring almost 1,141,748 kilometers squared with 50 million people.
A larger portion of its people are extremely poor, due to the high-income inequality. Approximately 15% of the population is involved in agriculture, while another 19% work in the sector. However, sometimes their wages can’t sustain them and their loved ones.
6. Peru -$6,692.2
Peru is a country on the western coast of South America. Peru borders Ecuador, Colombia, Bolivia, Brazil, Chile, and the Pacific Ocean. Peru is a large country extending into the Andes Mountains, measuring 1,285,216 km2 with a population of close to 34 million people.
Regardless of being classified as a middle-income economy, Peru is still a poor country. There are several cases of underemployment as well as unemployment. Its agricultural sector is responsible for roughly 7 percent.
The mainstay of Peru’s economy is the service industry, however, the wages are so low compared to those paid in other nations.
7. Brazil – $7,518.8
Brazil is supposedly the most famous and extensive country in South America; it’s located on the eastern side of the continent. It covers 8.5 million kilometers squared and has a population of more than 211 million people. Brazil is the fifth-largest country in the world according to land size, and the sixth according to the number of occupants. Brazil is well-known for its football and its beaches. Its coastline measures 7,491 kilometers, and it is comprised of beaches and seaports along the Atlantic Ocean.
Despite extensive petroleum resources, as well as great potential in agriculture, mining, among other sectors, Brazil is among the poorest countries in South America due to the high unemployment rate. However, that doesn’t imply that the people are unproductive; but that most of its people, especially those in Favelas are involved in the informal economy.
They are largely poor because they get low wages, and they have no protections including pension and insurance. Which can help improve people’s quality of life.
8. Guyana – $9,374.8
Guyana is a nation in the northern part of South America. It is a small country measuring 215,000 square kilometers and has a population of 743,700. Guyana is near the Atlantic Ocean, Venezuela, Brazil, and Suriname.
The reason why Guyana is poor is a lower employment rate of 12 percent. While a few parts of the country are doing well; citizens in the remaining parts lead poor lifestyles. Despite, a mixed economy of Sugar, Rice, Timber, and Gold. and Textiles.
9. Argentina – $10,729.2Â
According to earlier predictions, Argentina’s population was to get to 45.2 million people in 2020 and reach 50 million in 2033. The Argentinian population will then get to its peak of 57.94 million in 2079 and then gradually decrease.Â
Argentina’s population is increasing at a rate of 0.93%. Argentina’s population density is about 15 people per square kilometer. While it’s predicted that this is to increase in the coming decades, it’s still below the world average of 50 individuals per kilometer.
The nation’s fertility rate is 2.24 births per woman, precisely above the population replacement rate of 2.1 births a woman. The birth rate is 16.736 births per 1,000 people, which has notably declined over the past few decades.
10. Venezuela – $16,055.6
Venezuela is often mentioned among the poorest nations in South America. There is severe poverty; estimates show that 3 out of 4 people in Venezuela live in poverty. Pictures coming from Venezuela indicate that the situation is so dire that people virtually gather in dumpsters searching for their next meals.
Venezuela’s poverty originates from an over-dependence on oil proceeds, and the economic sanctions charged on the country by Western countries. This has led to food shortages, a healthcare problem among other issues. Many industries have closed down; laying-off workers, and causing hard economic times.
The Bottom LineÂ
The poorest countries in South America haven’t been able to entice investors to develop the possibility in their market. Sometimes, this has been due to intentional government policies aimed at government ownership of all the wealth-creating companies
This tendency has always delayed development, and if corruption exists, it leads to the exploitation of the people by those in power. Hence, many people live in poverty, because smaller amounts of money are realized to get to the government treasury
