Which country has the poorest economy?

Ethiopia

One of the poorest countries in the world: Ethiopia

Ethiopia is one of the poorest countries in the world. The average annual per capita income per inhabitant is US $ 570 per year. That is very little. Most people live below the poverty line. The causes lie in the constantly recurring Droughts and the high one Population growth.

Since the early 1990s, Ethiopia has experienced a development from a socialist planned economy to a freer economy. Nevertheless, there are still companies that are owned by the state, such as aviation or telecommunications. State control is still very strong here.

Agriculture in Ethiopia

The most important thing in Ethiopia is agriculture. More than 80 out of 100 people live from their products. However, the harvests are often not enough to feed the families adequately. They are then dependent on support from the Ethiopian state or from abroad. This makes the country highly dependent on other countries.

60 percent of the products that Ethiopia exports are agricultural products. Most important is that coffee. However, if coffee prices go down, this has an impact on income, which then goes down as well. The farmers then simply earn less. In addition to coffee, millet, wheat, barley, corn, potatoes, sugar cane and several types of vegetables are grown.

Is there any industry?

There is also a small share of industry, but compared to agriculture it is still very low. Here primarily food is processed, textiles are made, or chemical or metal products are manufactured. The processing of leather products is also part of this.

Hope in tourism

The country also has hopes for the expansion of tourism. There are several national parks and a varied and diverse landscape that could also attract visitors from other countries to the country.