Top Ten Poorest Countries in Europe

10. Bulgaria

Bulgaria is number ten on our list with a per capita GDP of $11,350. In the 90s, the country lost its soviet primary market when it tried to transform itself into a free-market democratic economy. In the end, however, it only further worsened their economy.

The 2008 global financial crisis didn’t help either. According to Eurostat, more than 22 percent of the population is at risk of poverty and more than 530,000 are already living below the poverty line (less than €185 per month). The good news is that their unemployment rate did drop from 4.9 percent to 4.7 percent in 2022.

9. Serbia

Serbia is currently in ninth place with a per capita GDP of $7,250. While the country enjoyed good economic growth at the beginning of the 2000s, things began to decline in 2009 due to the global financial crisis. For one thing, it had increased the country’s external debt to 64 percent of its GDP.

Not only that, but Serbia is also prone to natural disasters such as earthquakes and floods, both of which can significantly impact their economic progress. The proliferation of organized crime syndicates also contributes to the problem.

According to recent surveys, approximately one-fourth of the population (just under 1.8 million individuals) is at risk of poverty.

8. Montenegro

Montenegro has a small economy—one that relies heavily on capital inflows from abroad. They also have minimal exports, which have contributed to a structural trade deficit. What’s more, is that a significant portion of the population is comprised of refugees and internally displaced individuals. As a result, the poverty rate is six times higher than the national average.

As of 2026, they had a per capita GDP of $7,684, which puts them in eighth place on our list. The country’s poverty rate has also increased from 11.3 percent in 2010 to 16.2 percent in 2021. And according to surveys, between 9 and 33 percent of the population live in economically vulnerable situations.

7. Belarus

Belarus is a landlocked country in Eastern Europe and like many of its neighbors, it had faced deep economic trouble following the collapse of the Soviet Union in 1991 (prior to that, it had one of the highest living standards). The two-year recession between 2015 and 2016 also took a toll on the Belarusian system, which was already unstable.

While a lot of process has been made over the past decade and a half, more than 41 percent of the population still lives below the national poverty line; this is mainly due to falling labor incomes. Not to mention that more than 196,000 people are currently unemployed.

6. Bosnia and Herzegovina

Bosnia and Herzegovina is a country on the Balkan Peninsula that borders the Adriatic sea.  While it was previously classified as a middle-income country, the legacy of war had taken a toll on its economy. Not only do they have a high poverty rate (approximately 18.6 percent or 640,000 people), but the quality of social protection, public healthcare, and education is also low.

Unemployment rates are also high (approximately 16 percent in 2021), especially among youth between the ages of 15 and 24; this is driven by economic stagnation, nepotism, and widespread corruption. With that said, numbers have trended downward in recent years.

As of 2026, they have a per capita GDP of $6,031, putting them in sixth place on our list.

5. North Macedonia

North Macedonia was Yugoslavia’s poorest republic prior to independence (they only contributed five percent of the federal output of goods). Since then, the country has undergone dramatic economic change with trade accounting for approximately 90 percent of its GDP. Still, it has a high unemployment rate of 16.5 percent.

Not only that but it’s estimated that 30 percent of the population live below the poverty line, something that has resulted from the country’s ethnic and political tensions. Material deprivation, low incomes, and unemployment also play a role.

4. Albania

Albania is a small, mountainous country that’s situated in the Balkan peninsula. While poverty has declined significantly over the past couple of decades, it’s still a considerable problem as one in ten lives below the poverty line. Not only that but over half of the population is at risk of social exclusion. Unemployment rates are also high. If anything, the Covid-19 pandemic has only worsened the situation.

Fortunately, the country is rich in natural resources such as iron, oil, coal, natural gas, and limestone and that has helped the economy slowly recover. With that said, its GDP per capita is still lower than many countries in the EU.

3. Kosovo

Kosovo is number third on our list with a per capita GDP of $5,020. Also known as the Republic of Kosovo, the country has a very high unemployment rate—one that has exceeded 30 percent as of 2020. What’s more, is that one-third of the population (approximately 550,000 individuals) lives below the poverty line; this is mainly driven by low wages and high unemployment. Political instability, sanctions, and wars have also contributed to the problem.

Having said that, the country’s economy has grown steadily since the declaration of independence in 2008. It also has very low government debt, which may help with economic growth in the coming years.

2. Ukraine

Ukraine has a GDP per capita of $3,726, which makes it the second poorest country in Europe. While it previously had one of the largest economies, it had slipped into recession following the collapse of the Soviet Union.

The recent war with Russia hasn’t helped either. Not only has it resulted in thousands of innocent deaths, but it has also caused the destruction of infrastructure (losses have already exceeded $100 billion), as well as huge displacement inside the country. It has also resulted in a sharp rise in inflation, which has affected energy, food, and major commodity prices.

In total, the ongoing conflict has caused the country’s economy to shrink by 45 percent, according to Worldbank. Prior to the war, Ukraine’s economy had been growing steadily at a quarter-on-quarter rate of 7 percent.

1. Moldova

The Republic of Moldova is sandwiched between Ukraine and Ukraine; they are also the poorest country in Europe, having suffered an economic collapse following their independence in 1991. This is mainly due to trade restrictions, government corruption, limited agricultural investments due to small farm size and low food yields (its economy heavily relies on the agriculture sector), and a weak social system.

According to a recent report, approximately 10 percent of the country’s population lives in absolute national poverty while 28 percent live below the national poverty line. The unemployment rate has also gone up in recent years—from 2.6 percent in December 2021 to 3.01 percent in 2022. What’s more, is that 30 percent are not enrolled in any formal training.

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Although there are early 200 countries in the world, the top 15 largest countries contribute to 75% of the world’s GDP, while the remainder account for the other 25%. Wealth disparity is not just a world economy problem. It is present in many of the major economies as well.

10. India

With a population of over one billion, it’s no surprise that India is a power player in the world’s top economies. In terms of purchasing power parity, India ranks in at third place with a GDP of 7.28 trillion. However, the large population of the country drags its GDP per capita down to $5,778.

Agriculture, logging, forestry, and fishing account for nearly 17% of India’s GDP, and such industries employ 49% of the population. While India depends more on agriculture than other world powers, it has a massive service industry that accounts for 57% of its GDP, and industry that accounts for 26%.

Along with its sheer strength in numbers, India remains a world p

ower from its limited reliance on exports, a strengthening middle class, high saving rates, and its favorable demographics. In fact, India rec

ently surpassed China as the world’s fastest growing economy.

9. Russia

Russia’s economy has long relied on its massive bank of natural resources, such as oil, natural gas, and precious metals. It is estimated that Russia contains as much as 30% of the world’s natural resources. The economy of Russia is worth 2.05 trillion, and its per capita GDP is $24,764.

Since the fall of the Soviet Union in 1991, Russia’s economy has become an open market economy rather than a centrally planned one. The politically stable atmosphere coupled with the high domestic consumption since the fall of the USSR has created an ideal atmosphere for economic growth.

Currently, Russia is facing an economic crisis, the worst of its kind since the 1998 financial crisis. After Russia’s illegal annexation of Crimea, many world powers included the European Union, the USA, Canada, Japan, Norway, Australia, and Switzerland imposed economic and political sanctions on Russian goods and travel within Russia. Additionally, inflation has drastically increased and the Russian ruble is losing value compared to the US Dollar and the Euro.

8. Italy

Italy hovers just above Russia with a GDP of 2.06 trillion, and a per capita income of $34,455. Italy has a diverse range of exports, the largest being cars, clothing, produce, and wine. Italy is also a leading producer of luxury goods, clothing in particular.

Italy is also facing an economic crisis, and has been in a recession for the past 5 years.The largest contributor to is the country’s debt of nearly 1.5 times its GDP. Combined with slowing economic growth, a low birthrate, and high unemployment (12.4%), this has created a major in dent in the economy that the government is scrambling to fix, with some success.

7. Brazil

Brazil’s takes 7th place with its 2.24 trillion dollar GDP. Despite its high GDP, it has a relatively low per capita GDP of $15,153. Additionally, 21% of the population is in poverty. The country is presently undergoing a political revolution due to wealth disparity. Brazil is the largest of all South American countries.

Brazil’s major exports include soybeans, raw sugar, cars, tobacco, iron,

and petroleum. Developed services contribute nearly 70% to the GDP, followed by manufacturing (26%) and agriculture (6%). Brazil has a massive labor force of nearly 100 million, half its population.

6. France

France’s powerful 2.83 trillion dollar economy is mostly powered by its massive tourism industry. It is the most visited country in the world. It also has a strong industry, research, agriculture, research, and weapons sectors.The French economy has slowed down in recent years due to unemployment and reduced tourism.

Although France does not place demanding hours and workloads on its employees, its labor productivity is one of the largest in Europe. Employees get short hours with long lunches every day, and still enjoy a high standard of living. The average GDP per capita is $40,455. France exports goods such as pharmaceutical medications, cars, wine, cheese, and oil.

5. United Kingdom

The United Kingdom has been a world power for centuries, and to this day it retains a position among the world’s most powerful economies with a $2.99 trillion GDP and a per capita GDP of $37,744.

The economy is primarily driven by the service sector, which contributes to a staggering 75% of its GDP. It is followed by manufacturing and agriculture. Despite the fact that agricultures makes up less than 2% of the economy, 60% of food needs in the country are produced domestically. The UK’s largest exports are cars, gold, petroleum, jet propellers and turbines, and pharmaceuticals.

4. Germany

The most powerful economy in Europe, Germany boasts a GDP of $3.82 trillion and a per capita GDP of $44,741. Germany is most known for its massive skilled labor force and exports such as cars, machinery, and pharmaceuticals. The economy is steadily growing at a pace of 2% per year.

Germany faces some economic issues due to the influx of refugees and other immigrants, bailing out Greece, and an aging population with a declining birthrate. It faced a recession in 2008, which was narrowly avoided after Angela Merkel approved a stimulus plan to prevent several industries from failing and causing unemployment.

3. Japan

Japan is a country at its peak. It is one of the most developed and modern countries in the world with a very high standard of living. It has a GDP of 4.77 trillion, and a per capita GDP of $37,683. Its powerful manufacturing industry employs over half of the population, while other industries such as service, commercial, construction, agriculture, and transportation account for most of the remaining 8%.

Like several other world powers, Japan faces an aging population as well as a declining birthrate. The economy has showing signs of recession since 2008, although a total collapse was narrowly avoided after a government bailouts and stimulus packages. The 2011 earthquake also impacted the economy.

Japan’s largest exports are cars, printers, circuits, and manufactured parts. Its economy is also boosted by tourism, its service sector, and fishing.

2. China

China has long been predicted as the up and coming strongest world power, and it has almost reached that point. Its massive economy is powered by its massive population of 1.357 billion, the largest in the world. It has a GDP of 10.35 billion, far exceeding most other countries in the top 10. however , much of its population is rural and lives in poverty, the average GDP being only $10,165.

Ever since China switched from a centrally planned economy to a mixed economy in the 1970s, its economy has ballooned many times in size. Manufacturing and services each employ about 45% of the workforce, with most of the remainder employed by agriculture. Its largest exports are manufactured goods ranging from vehicle parts, phones, and other modern technology to basic clothing, toys, and electronics.

1. The United States of America

The United State comes in first place with an economy worth $17.41 trillion – 22% of the world’s GDP. Its average per capita GDP is $54,678. Additionally, the US dollar is one of the strongest in the world, and there are several other countries that also use it as their official currency.

The USA’s workforce is employed by a diverse group of industries. Retail trade, accommodation, food services, waste services, education, healthcare, finance, construction, agriculture and numerous more industries all contribute to the economy. The USA is also the go-to country for entrepreneurs unveiling revolutionary new products, which is also why the USA has so many billionaires.

The USA’s economy has recently been boosted by domestic oil, however its exports are just as diverse as its labor force. Manufactured goods such as vehicle parts and electronics, agriculture and food, vehicles, oil are all major exports.

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