According to the latest report by World Population Review, Myanmar has fallen to the third position among Asia’s poorest countries in 2024, with a Gross National Income (GNI) per capita of just $4,760. This significant decline in economic status comes during the period of military rule following the coup, highlighting the severe economic deterioration the country has experienced. The report emphasizes that while Asia represents one of the world’s regions with the greatest economic opportunities, several countries continue to face substantial challenges due to poverty, political instability, and poor governance systems.
Afghanistan currently holds the position of Asia’s poorest nation, with a GNI per capita of only $1,690. The country’s development has been severely hampered by prolonged conflicts, corruption, and economic instability. Nepal ranks second among Asia’s poorest countries, followed by Myanmar in third place. The report indicates that these nations face significant challenges in achieving economic progress due to various factors including political instability and ineffective governance structures that limit their development potential.
Myanmar’s economic situation has particularly deteriorated since the military takeover. Despite showing promising economic potential before the coup, the country has suffered from the military council’s oppressive policies, leading to economic decline, inflation, and decreased foreign investment. The combined impact of the COVID-19 pandemic and the military coup has created substantial obstacles for economic recovery. The country’s current economic challenges reflect broader institutional problems, including political instability and governance issues that continue to hinder national development.
The list of Asia’s ten poorest countries also includes Tajikistan, Kyrgyzstan, Pakistan, Bangladesh, and Palestine. Notably, India, despite being the world’s fifth-largest economy with a GNI per capita of $8,210, is included in the list of Asia’s ten poorest countries due to its large population, low literacy rates, and significant wealth disparities. This underscores how overall economic size doesn’t necessarily translate to individual prosperity, particularly in countries with large populations and uneven wealth distribution. The report emphasizes that economic development challenges in these nations are often compounded by factors such as inadequate infrastructure, limited access to education, and insufficient economic opportunities for large segments of their populations.
