wun manong: The Poorest Nation in the World 2010

I was browsing the internet when I chanced upon a link for the 20 Poorest Nation in the World. I could not resist the temptation to click on the link because I wanted to see if the Philippines is ranked among then.

And so as ranked:

#20 - Republic of Haiti

#19 – Burkina Faso

#18 – Federal Republic of Nepal

#17 – Republic of Uganda

#16 – Republic of Mali

#15 – Republic of Rwanda

#14 – Republic of Guinea

#13 – Federal Democratic Republic of Ethiopia

#12 – Republic of Mozambique

#11 – Republic of Madagascar

#10 – Republic of Malawi

#9 – Togolese Republic (Togo)

#8 – Republic of Sierra Leone

#7 – Central African Republic

#6 – Republic of Niger

#5 – State of Eritrea

#4 – Republic of Liberia

#3 – Republic of Burundi

#2 – Republic of Zimbabwe

#1 – Democratic Republic of Congo

I know you’ll ask!! heho

This was based on the annual Gross Domestic Product (GDP) of the country. Wikipidea would define GDP as “the amount of goods and services produced in a year, in a country. It is the market value of all final goods and services made within the borders of a country in a year”.

In a layman’s term, I would say GDP is the annual average income of a country based on its total production and the value of its products. To give a clearer picture as to how GDP is used as basis for economic growth, it is better to look into the micro level - on a per individual basis.

This means GDP is the $XXX income of an individual per year. Thus, GDP is affected by population and natural resources, and I may add, how a country uses its resources to provide income to its people.

Republic of Congo has a GDP of $332 while the Philippines has $3,300. It may seem like we're far from being the poorest and sure we're also behind from at least being the richest, let alone in Asia, where the Philippines is ranked 16th richest and 124th among all countries.

In contrary, here’s the link for the most productive nations of the world by Wall Street.