Poorest Country in Europe – Top 10 List Based on GDP per Capita
The article presents the name of the poorest country in Europe along with following other nine countries which make it to the top 10 list. European countries on this list are ranked according to their GDP per Capita which was determined by the CIA for the year 2012. It is calculated by dividing GDP of a nation by its total estimated population. It gives a rough idea of average income of a person in a country. More details on the source of this info and other calculations have been given at the end of this article.
Must Read: Richest European Countries in the World
Top 10 Poorest Country in Europe – Data for 2012 and rankings valid till end of 2013
|Rank||Name||Per Capita Income|
|2||Republic of Kosovo||$ 7,400|
|5||Bosnia and Herzegovina||$ 8,300|
Source: Central Intelligence Agency (CIA) – United States of America
Located in Southeastern Europe, Bulgaria is the 14th largest country in the continent. It is home to more than seven million inhabitants, of whom a majority are Christians. It joined the European Union on 1st January, 2007 and thus became one of the most recent members of the Union. This country was once ruled by the communist ideology. However, the state policies changed and now it is a market economy. Sofia is the largest city and it is the financial capital of this 10th poorest country in Europe.
Bordered by Bulgaria, Hungary, Serbia, Ukraine and Moldova, Romania is home to some estimated 19 million people. Once a member of the Warsaw Pact, it is now a member of the European Union after joining it along with Bulgaria. A low GDP, when compared with other European nations, makes its ninth poorest country in the continent of Europe.
Located between the Adriatic Sea and Serbia, Montenegro became totally independent from Serbia on 3 June 2006. The total number of its residents is estimated to be less than million. But its GDP of around $4 Billion makes it eight ranked on this top 10 list. Its economy is reliant significantly on tourism and export of refined metals. In terms of GDP per Capita on global rankings, it is next to country of Saint Vincent and the Grenadines.
#7) Macedonia – One of the Poorest Countries in Europe
Official Republic of Macedonia, this nation occupies the seventh spot. Macedonia has a parliamentary democracy form of government. One fourth of its total population reside in the capital city of Skopje, which is also the largest city. Its estimated GDP by CIA is around $22.147 Billion. According to the CIA, 30% of its residents are below the poverty line. When compared to other rich European nations, its low per capita income make it qualify as the seventh ranked on this list.
Comprising of 23 cities and a total of 122 municipalities, Serbia is located at the crossroads of central and southeastern Europe. Its official language is Serbian while Hungarian comes second in terms of number of speakers. It is ranked #115 in terms of the number of airports which are 30. On the list, it ranks sixth.
#5) Bosnia and Herzegovina
A multi-ethnic country, Bosnia and Herzegovina is located in Southeastern Europe. Its population is estimated to be 3.8 million, while its GDP (PPP) is around $31. 909 Billions. Bosniaks are the major ethnic groups with 48% of total inhabitants while Serbs are second largest around 37.1%, according to the CIA. This nation is the fifth poorest country in the continent.
Government of Albania is a parliamentary republic and Himn-i-Flamurit is the national anthem. This poor European country is located between Kosovo to the north, while Greece and Montenegro to the South. It has little deposits of petroleum and natural gas along with copper, iron ore and bauxite.
Ukraine is the poorest country in Eastern Europe and overall it is third. It shares its borders with Russia to the east and Poland to the west. It was a part of the Soviet Union and in the year 1991, it gained independence after the dissolution of the Soviet Union. It has the largest territorial area in the whole continent as a whole country. Its GDP (PPP) is estimated to be $344.727 Billion. It has the largest military in the whole Europe and seventh largest population on the continent. On our list of the poorest countries in Europe, it occupies the third spot after second ranked Kosovo.
#2) Republic of Kosovo – Second Poorest Country in Europe for 2013
Kosovo is a small nation located between Macedonia and Serbia. It has a land area of 10,887 sq km and ranks #169 in terms of territorial area. This European nation was once a part of the Ottoman Empire which ruled over it for nearly five centuries. The average income of a person in this country is $7400 and this makes its citizens second poorest in the whole continent. Its economy is highly dependent on foreign aid and remittances of diaspora settled in Germany and Switzerland.
#1) Moldova – Poorest Country in Europe
Ranking first in this top 10 list, Moldova secured its independence after the dissolution of the mighty Soviet Union. Its citizens are poor and have a low standard of living compared to other European neighbors. Its winters are moderate while summers are warm. This poorest European country is nearly entirely dependent on agricultural exports for revenues. Also, the agricultural sector employs a significant amount of citizens.
Source: Rankings on this page is as found on the CIA’s website.