In a compiled list mainly focusing on economic matters, Kosovo has been ranked as the second-poorest country in Europe for the year 2023, with only Ukraine ranking below. Albania holds the fourth spot on this list.
The German portal DERWESTEN has published a ranking of the poorest countries in Europe for 2023.
The list was based on Gross Domestic Product (GDP) per capita. GDP reflects the value of all goods and services produced within a country. To create the list, GDP was divided by the number of inhabitants to provide an accurate and comparable ranking of the poorest countries in Europe, as stated in the article.
The top 10 poorest countries in Europe, according to DERWESTEN, are as follows:
10th place: Serbia, with a GDP per capita of 10,360.72 US dollars.
9th place: Montenegro. This relatively small nation with 600,000 inhabitants heavily relies on tourism and has a GDP per capita of 9,811.86 US dollars.
8th place: Belarus, with a GDP of 7,859.63 US dollars. The country benefits greatly from its textile industry and wood processing.
7th place: Bosnia and Herzegovina, with a GDP per capita of 7,337.72 US dollars.
6th place: Georgia, with a GDP per capita of 6,670.73 US dollars. The country’s key economic sectors include tourism along the Black Sea, cultivation and export of citrus fruits, grapes, and tea, as well as manganese and copper mining.
5th place: North Macedonia, with a GDP per capita of 6,608.08 US dollars. The country’s most significant export goods are food, wine, iron, and steel.
4th place: Albania. The country’s GDP per capita is 6,457.22 US dollars. Albania has seen success in some areas, such as tourism and inflation control, but it still remains one of the poorest countries in Europe. High unemployment rates and a weak infrastructure are some of the challenges it faces.
3rd place: Moldova, with a GDP per capita of 5,671.22 US dollars. Moldova’s population is primarily involved in agriculture, and its climate favors fruit cultivation.
Second poorest country in Europe is Kosovo
Kosovo declared its independence in 2008 and is recognized as an independent state, including by Germany. Within the former Yugoslavia, Kosovo was the poorest region, and with around 2.5 million inhabitants, it remains one of the poorest countries in Europe.
This status is not only due to the failed social and economic policies as part of Yugoslavia, but also the aftermath of the Kosovo War and difficulties in developing an industry.
For this reason, Kosovo has been considered one of Europe’s poorest countries for a long time. However, on the list of Europe’s poorest countries, Kosovo now holds the second spot with a Gross Domestic Product per capita of 5,290.48 US dollars.
In 2022, Kosovo was the last Balkan country to apply for EU membership.
Europe’s poorest country is Ukraine
The fact that Kosovo has replaced Ukraine as Europe’s poorest country is primarily due to the Russian-Ukrainian War, which began with the Russian invasion in February 2022. Prior to the war, Ukraine’s economy was on a growth trajectory, but it is also characterized by high levels of corruption, an incomplete market economy, and a fragile democracy. The Gross Domestic Product per capita in Ukraine, heavily affected by the conflict, is only 4,348.57 US dollars.
