Europe’s poorest countries: See the list

Europe is often thought to be the continent of power and affluence. However, there are countries on the continent that are quite poor.

Many South Africans are disillusioned with rising unemployment, continuous state-controlled power cuts, spiking inflation, and a general feeling of doom and gloom.

One often considers Europe to be a powerhouse of the Western world, with few challenges. We must take heed of the fact that many other countries are not as well off as SA.

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EUROPE: POOREST COUNTRIES

In Europe, there are several countries that are poorer than, or almost on a par with South Africa – whose Gross Domestic Product (GDP) was USD 7 055 (R 134 640) per adult (in 2021).

Take a look at the European countries that have lower or similar GDPs to South Africa. GDP figures are from 2021, which is the latest available data.

1. Moldova

The Republic of Moldova is a landlocked country in Eastern Europe. The capital and largest city in Moldova is Chișinău. In 2021, Moldova’s GDP per adult was USD 4 440 (R 84 720) per adult. The service sector plays a dominant role in the country’s economy.

The country holds membership in various international organizations, including the United Nations, the Council of Europe, the World Trade Organization, and the Association Trio.

From 1992 to 2001, Moldova experienced a severe economic crisis, resulting in a majority of the population falling below the poverty line.

2. Ukraine

Ukraine is located in Eastern Europe. Its capital and largest city is Kyiv. This country faces severe economic challenges and remains one of the poorest countries in Europe, with a GDP of USD 5 779  (R 110 270) per adult, in 2021.

Ukraine is a unitary state with a semi-presidential system. It is a founding member of the United Nations and maintains membership in organizations such as the Council of Europe and the World Trade Organization.

Despite its potential and resources, corruption is an issue that hinders Ukraine’s progress and development. The ongoing Ukraine-Russia war is not helping Ukraine’s economy either.  

3. Kosovo

The Republic of Kosovo is located in Southeast Europe. It is a landlocked country situated in the heart of the Balkans, with Pristina being its capital city.

As one of the poorest countries in Europe, Kosovo had a GDP of USD 6 512 (R 124 250) per adult in 2021. Kosovo is classed as a developing country, with an upper-middle-income economy. It holds membership in international organizations such as the International Monetary Fund and the World Bank.

The economy of Kosovo has faced numerous challenges due to political upheaval in the country and the repercussions of the Yugoslav Wars.

4. Albania

The Republic of Albania is located in the Balkan region, in Southeastern Europe. Its capital city is Tirana. Albania is also one of the poorest countries in Europe, with GDP per adult of USD 8 203 (R 156 520) in 2021.

Albania is classified as a developing country, with an upper-middle-income economy that is primarily driven by the service sector.

The country is involved in various international organizations, including the United Nations, World Bank, UNESCO and NATO.  

5. Bosnia

Bosnia and Herzegovina, commonly known as Bosnia, is located in Southeastern Europe in the Balkans region. The capital city is Sarajevo.

In 2021 Bosnia and Herzegovina’s GDP was USD 8 453 (R 161 290) per adult, making it one of Europe’s poorest countries. Bosnia is classified as a developing country. Its economy is dominated by the industrial and agriculture sectors.

Bosnia has membership to various international organizations, including the United Nations, the Organization for Security and Co-operation in Europe, and the Council of Europe.

According to InsiderMonkey, the Bosnian War resulted impacted the country forcing it to rebuild itself and implement market reforms to its economy.

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