Top 10 Poorest Countries in the Europe
Welcome to Displore and Thanks for Watching, In this video we shall be presenting the Top 10 Poorest Countries in Europe. Europe is a continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere. It comprises the westernmost part of Eurasia and is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west, the Mediterranean Sea to the south, and Asia to the east. The eastern border comprises a long and mixed line of mountain ranges and waterways that would normally define a subcontinent. However, Europe is generally accorded the status of a full continent because of its great physical size and the weight of history and tradition. It is the 6th largest continent in the world. Europe covers about 10,180,000 square kilometres , or 2% of the Earth's surface (6.8% of land area). Politically, Europe is divided into about fifty sovereign states of which Russia is the largest and most populous, spanning 39% of the continent and comprising 15% of its population. Though the wealth of the European nations vary widely, even the poorest countries of Europe are well above the poorest countries of the world. The poorest countries of Europe are usually those that were severely affected by the downfall of the Soviet Union. 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. Here, we present some of the poorest countries in Europe and the status of their economies.
If you are new here, welcome be sure to subscribe and turn on notification so you don’t miss any of our videos.
In this video we shall be listing the poorest countries based on their Nominal GDP per capita, so, with that said, here are the Top 10 poorest countries in Europe.
10. Bulgaria – GDP Per Capita - $10.133
Bulgaria is a country located in southeastern Europe. The nation shares its land borders with Romania, Serbia, Macedonia, Greece, and Turkey. The Black Sea lies to the east of the country. It has a population of about 7 million people and a surface area of about 110.993 km2. Bulgaria’s economy experienced a major setback in the 1990s after the loss of the Comecon and Soviet market. The attempts to establish a democratic government and a free market economy in the country further destabilized the economy of Bulgaria. The standard of living in the country reduced by 40% and began recovering only after 1998. By June 2004, the economy of Bulgaria had regained pre-in1989 levels. However, the Great Recession of 2008 struck the economy badly, and a 5.5% economic decline was experienced in 2009. 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. The country currently has a GDP of about 70.1 billion dollars and a per capita income of 10.133 dollars making it the 10th poorest country in Europe.
9. Montenegro – GPD Per Capita - $9.116
Montenegro is a Southeastern European nation sharing its borders with Croatia, Bosnia and Herzegovina, Kosovo, Serbia, and Albania. It also has a coast on the Adriatic Sea. Montenegro’s GDP per capita was only 41% of the average of the European Union in 2010 according to Eurostat. The impact of the Yugoslav Wars and the decline of industry following the break-up of Yugoslavia accompanied with the loss of UN financial sanctions adversely affected the economy of Montenegro. In 2009, the nominal GDP of the country was $4.114 billion USD. The economy of Montenegro was in a steady state of growth until the global recession of 2008 that struck the country badly. The situation led to the contraction of the GDP of the country by 4%. However, things have improved in the past few years and the economy of Montenegro is gradually recovering. However Montenegro still ranks as one of the poorest countries in Europe is a GDP per capita of 9.116 dollars.
8. Serbia – GDP Per Capita - $7.992
Serbia is located at an intermediate position between Southeast and Central Europe. The landlocked nation shares its borders with Romania, Hungary, Macedonia, Bulgaria, Montenegro, Croatia, and Bosnia-Herzegovina.Serbia has a population of about 6.9 million people and a surface area of about 77.474km2. The economy of Serbia was severely affected by the global economic crisis of 2008. After experiencing eight years of strong economic growth, the country’s economy entered a period of recession in 2009. Negative growth rates of −3% in 2009 and −1.5% in 2012 resulted as a result of this economic crisis and Serbia’s public debt doubled in 4 years from 29.2% of GDP before the crisis to 63.8% of GDP after it. It currently has a Nominal GDP per capita of about 7.992 US dollars.
7.
