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As of 2019, 424 million people in sub-Saharan Africa were reportedly living in severe poverty. In 2022, 460 million people—an increase of 36 million in only three years—were anticipated to be living in extreme poverty as a result of the COVID-19 pandemic and the Russo-Ukrainian war .
Sub-Saharan Africa Lower middle income N/A Gibraltar: Europe & Central Asia High income N/A Guinea: Sub-Saharan Africa Lower middle income 43.7% 2018 Gambia: Sub-Saharan Africa Low income 53.4% 2020 Guinea-Bissau: Sub-Saharan Africa Low income 50.5% 2021 Equatorial Guinea: Sub-Saharan Africa Upper middle income N/A Greece
The table below presents the latest Human Development Index (HDI) for countries in Africa as included in the United Nations Development Programme's Human Development Report, released on 13 March 2024 and based on data collected in 2024.
In Sub-Saharan Africa extreme poverty went up from 41% in 1981 to 46% in 2001, [92] which combined with growing population increased the number of people living in extreme poverty from 231 million to 318 million. [93] Statistics of 2018 shows population living in extreme conditions has declined by more than 1 billion in the last 25 years.
Much of the improvement has occurred in East and South Asia. In Sub-Saharan Africa GDP/capita shrank with 14 percent, and extreme poverty increased from 41 percent in 1981 to 46 percent in 2001. Other regions have seen little or no change. In the early 1990s the transition economies of Europe and Central Asia experienced a sharp drop in income.
Combined green: Definition of "sub-Saharan Africa" as used in the statistics of United Nations institutions Lighter green: The Sudan, classified as a part of North Africa by the United Nations Statistics Division [2] instead of Eastern Africa, though the organization states that "the assignment of countries or areas to specific groupings is for statistical convenience and does not imply any ...
In October 2017, the World Bank updated the international poverty line, a global absolute minimum, to $1.90 a day. [3] This is the equivalent of $1.00 a day in 1996 US prices, hence the widely used expression "living on less than a dollar a day". [4] The vast majority of those in extreme poverty reside in South Asia and Sub-Saharan Africa.
Africa’s share of global GDP has stagnated at 3.1% over the last two decades, with slow income convergence with developed nations. [66] [67] Despite better market conditions in 2024, access to finance remains a significant barrier to development. In sub-Saharan Africa, private sector credit dropped from 56% of GDP in 2007 to 36% in 2022. This ...