The wealth of the American continent is very heterogeneous. Countries like the United States or Canada have up to four times more GDP per capita than the vast majority of South American countries.
In the case of Central America, while countries such as Panama and Costa Rica have experienced great economic growth, others such as Nicaragua, Honduras or Guatemala maintain economies very similar to those of the majority of South American countries.
Haiti, the poorest country in America
The case of Haiti is especially delicate. It is estimated that 80% of the country’s population is in poverty. Although the country receives large amounts of aid annually from the United States, Canada and the European Union, the country’s economy is greatly burdened by the agricultural sector. About 70% of Haitians depend exclusively on agriculture.
Another important factor that slows down the country’s growth is brain drain. More than 80% of the population with high educational levels have emigrated outside the country in search of opportunities.
Haiti’s current GDP per capita in 2023 stands at $2,170. Nicaragua follows very closely with $2,590 and Honduras with $3,280.
The poorest countries in America according to their GDP per capita
|#||Country||GDP per capita (in USD) (2023)||GDP per capita (in USD) (2022)|
|15.||St. Vincent and the Grenadines||9,140||8,540|
In terms of nominal GDP, the country with the lowest figures is Dominica with 680 million dollars. Let us remember that nominal GDP measures the country’s wealth in a more generalized way, since this metric measures the monetary value of all goods and services produced by a country during a specific period of time; usually one year.
The poorest countries in America according to their nominal GDP
|#||Country||Nominal GDP (in millions of USD) (2023)||Nominal GDP (in millions of USD) (2022)|
|2.||St. Vincent and the Grenadines||1,040||950|
|3.||Saint Kitts and Nevis||1,050||970|
|5.||Old and bearded||1,860||1,680|
|15.||Trinidad and Tobago||28,220||27,880|
Read Also: The 20 Most Populated Countries in America
There are no real data on GDP per capita/nominal GDP for Cuba. For this reason, it is not shown in the list.