Europe is one of the most popular places in the world. This continent consists of 50 sovereign countries, 6 limited recognized states, and 4 dependencies. Although it is one of the wealthiest regions of the world, it has some places which are very poor. This is simply due to the disparity in the distribution of wealth in the European region. In this post, we have enlisted the top 7 poorest countries in Europe. Also, we have also mentioned the GDP of these countries.

Moldova

Moldova has the lowest GDP in Europe and it is a land-locked country in Eastern Europe. It has the lowest GDP per capita in the European continent. Out of 3 million of its population, about 4.2% of the population is unemployed and around 11.4% lives at or below the poverty line. The GDP of Moldova stands in 1900 and it is the poorest country in Europe. Moldova only provides about 50% employment to 63% people in the service sector.

Ukraine

Ukraine is the second poorest country in Europe and it is also located in Eastern Europe. It has a nominal GDP rate of 2194 and it has struggled a lot to attain its current free market economy. Ukraine is one of the poorest countries in Europe because it has suffered many setbacks in recent years. The country faced the global financial crisis in 2008 and 2009, an economic downturn in 2013, the political instability due to the annexation of Crimea by Russia. Here, an average normal person earns $2052 a year.

Armenia

Armenia is the third poorest country in Europe and here an average person earns only $3595 annually. Around 32% of people here live below the poverty line out of which 18% are unemployed. The economy of the country is dependent on the investment from the overseas citizens since it gained freedom. Most of the people here are employed in the service sector followed by agriculture and industrial sector.

Georgia

In the list of the poorest countries in Europe, Georgia comes at number 4. The country has a population of size 3.72 million and a workplace of 1.959 million. According to the recent reports, the unemployment rate in Georgia is 12.7% and around 11.50% of the population lives at or below the poverty line. Due to the implementation of economic reforms policies between 2003 to 2014, Georgia shifted from a failing economy to a healthy economy.

Azerbaijan

Azerbaijan is the first country out of the poorest countries of Europe. The GDP per capita income of every person stands at $4032 annually. Its unemployment rate is 5.3% which makes it one of the lowest earners on the list. And, this country has only 6% population living below the poverty line. Azerbaijan has made an improvement over the recent few years as its economy has witnessed an excellent growth in the first quarter of 2017. Due to the oil industry, the national economy was increased by 41.7% at the beginning of 2017 which helped Azerbaijan to make a remarkable shift in terms of its growth.