The Caribbean is a big island, but on several occasions, recent people are beginning to ask and wonder why some countries in the Caribbean are very poor. My response to that is very simple because it is based on their economy and having gross domestic products which are extremely low.
Meanwhile, do u know where this Caribbean is located? If no then, Gluxxy has provided it below.
The Caribbean is a region of the Americas that is located around the Caribbean sea, its islands and the surrounding coasts. Its area is seen in southeast of the Gulf of Mexico and the North American mainland, east of Central America, and north of South America. It has 13 countries on the list which among them highlights the top 10 poorest countries.
POOREST COUNTRIES IN CARIBBEAN
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Haiti is known as The Republic of Haiti which was formerly known as Hayti. It is a country located on the island of Hispaniola of the Caribbean sea. Haiti is estimated at approximately 11.1 million population and 27,750 square kilometers of a landmass. This makes it the second-maximum populous country in the Caribbean.
Primarily Haiti has a free market economy, with a GDP of $19.ninety seven billion and consistent with capita GDP of $1,800 as in 2017 appraisal. The country often uses the Haitian gourde as its currency.
Despite its tourism industry, Haiti is still the poorest country in the Americas region. Poverty, corruption, political instability, unemployment, poor infrastructure, lack of fitness care, and poor education machine has been the order of the day. It has taken over Haiti which makes the Haitians seeking to emigrate.
Read more: poorest countries in the world
On the Caribbean island, jamaica is seen as the biggest English speaking and second poorest country.
Although in the country’s agricultural section which produces a lot like cocoa, coffee, bananas, coconut, candy potatoes, sugar cane and the relaxation of it, they still find it so hard to compete with other international locations of the world because of exchange liberalization, and this hurts the country so much.
These products are both traded in the Caribbean network or sold in their nearby markets in preference to related to them in international change. The reason is really hard to predict either via corruption or the fact that the country is so young.
The capability to exchange this truth is possible, but steps to enhance technology and yield across all formats aren’t yet taken.
For quite some time now Jamaica has struggled with many outside bogs, excessive public debt, and low boom which renders the country more powerless.
3. DOMINICAN REPUBLIC
Dominican republic is also located on the island of Hispaniola of the Caribbean region. The Dominican Republic covers a large landmass of 48,671 square kilometers and 10.5 million people according to 2020 estimate, of whom 3.3 million people on approximate live in the capital city.
This country named the Dominican Republic is the most visiting country in the Caribbean due to its natural endowment. With the tallest mountain peak, the Caribbean largest lake, pico Duarte, the year-round gulf course, and other natural minerals in the area.
International migrants posses a great effect on the Dominican Republic and the collapse of the second-largest commercial banks in the country which claims up to 3.5 billion US dollars.
With these effects, the Dominican Republic has been recorded to be the 3rd poorest country in the Caribbean with GDP per capita been dropped to $9,700. The Dominican Republic is a country under the trauma of child labor, enslaving, Unemployment, and inequality income has which has become a long term challenge.
Cuba is rated the fourth poorest country in the Caribbean. Cuba owns and manages most industries. Cuba formally depends on the Soviet Union as a partner for sugar exports. But adverse came after the fall of the Soviet Union in the year 1991, With these effects and so many other factors that grew to render Cuba a very poor country.
As the US banned Cuba 4rm exporting their goods to their country (which in order words known as an embargo). This deprived the country of exporting 95 percent of their exports and have been completely denied of American goods, these contributed to both food, electronics and internet access shortages.
Cuba historical depends on agricultural products for its industrial. And this often limits the abilities to stabilize their economy.
5. SAINT VINCENT AND THE GRENADINES
Saint Vincent and the grenadines are each a small and exquisite nation located by way of the south Caribbean. It is a peaceful island, for swimming and enjoying views. Regardless of these facts saint vincent and the grenadines struggle to support the country.
Their GDP has dropped as low as $12,100 per capita. At this point, saint vincent and the Grenadines have remained poor and rated the fifth poorest country in the Caribbean. lack of economic activity and difficulty in trading has contributed tremendously to a high rate of unemployment and underemployment for many citizens in this country.
This makes the citizens turn away from their main local employment opportunities to illegal trading, like starting to grow the sale of marijuana. As of the year 2008, the condition of the country worsens to 44.3 percent due to the rise in price for food commodities and fuel.
For years now saint Vincent and the Grenadines have suffered so much on this economic quagmire, ranging from healthcare problems, teen pregnancies, and lots more.
One good thing remains that this country struggle and are committed to protecting its population.
Read more: Beautiful beaches in the world
6. SAINT LUCIA
Saint Lucia is a small and extremely beautiful island and is placed on the southeast coast of North America and the jap Caribbean. Saint Lucia’s economy is predicated on the sale of banana, tourism income, and a few other small-scale businesses.
It is the most prosperous islands due to their success in bananas sales, despite all those facts, st Lucia has been under extreme poverty, With per capita GDP of $13,100. And haven being ranked the 6th poorest country in the Caribbean. They still enjoy their luxurious lifestyles like a golf course and shopping malls.
Currently, primary education is made free and compulsory, but only the rich can afford to buy the necessary things needed while the poor can’t. The same also goes to medical care which is of high cost too. All these affect the country greatly because only the professionals (like Doctors, lawyers, etc) survive.
Grenada is a small country located in the West Indies in the Caribbean Sea. Grenada is known for the production of rum, nutmeg, mace, and organic chocolate. Having 40 pristine white sandy beaches, 30 dive sites and world-first underwater sculpture Park as it’s tourist centers. Tourism can be seen as the major foreign exchange of the country.
The country still encounters a high rate of unemployment. Out of the estimated population of 107,000 people of which 32% are poor and 13% are drastically poor reducing their GDP per capita to $13,800.
People leaving in rural areas suffer greatly. This is because of their dependence on agricultural products. For Grenada being defenseless or vulnerable to natural hazards that damage their agricultural products in order, words hinder the economic growth of the country. Lack of good roads and other infrastructures limits the rural area’s access to the country’s common economy.
Dominican is an island on the Eastern Caribbean, and the youngest island in lesser Antilles. It’s a great natural beauty of the mountainous topography, year-round tropical climate, national parks, second largest boiling lake, and rare indigenous birds, plants, and animals in the world.
The island is a result of the volcanic eruption. It is one of the poorest countries and the 8th poorest country in the Caribbean. They depend on agriculture for the growth of its economy and cultivate mainly banana, citrus fruit, and Coconut. But the hurricane Dean outbreak damages the agricultural sector as well as so many infrastructures, for this particular reason the agricultural sector has been extended to the production of coffee, aloe vera, cut flower, and exotic fruits. Currently, tourism has become the main economic growth and the country depends greatly on it.
Dominican poverty is a result of a constant reduction in banana production ( due to the country’s reaction to weather conditions) and stagnation in the country’s other sector. The GDP per capita has reduced to $14,300. Inflation and high rate of unemployment has remained the trouble of the country for some years now.
9. SAINT KITTS AND NEVIS
Saint Kitts and Nevis is a country which is located in the Eastern Caribbean. This country is not one of the poorer countries in the eastern Caribbean, but slight poverty exists in the country especially in the rural areas.
The country is inhabited mostly by the descendants of the West African slave.
It tremendously depends on the growing and processing of sugarcane as its main agricultural product. The sugar industry is the Major product of the country.
St Kitts and Nevis are working hard to improve the revenue collection to better their fund. The country has a great tourist attraction center like beaches, sceneries, and a warm sunny climate which adds to the country’s economy.
This country is exposed to hurricane George (natural disaster) which damages so many products in order words are limiting the GDP per capita to $16,300. The hurricane damage has led to a high rate of unemployment and a high rate of inflation in the country.
10. ANTIGUA AND BARBUDA
Antigua and Barbuda are seen to be an English speaking country. The economy is independently based on tourism and government service. However, hurricane outbreak caused serious damage to the tourist centers and infrastructures.
To less, it’s a defenseless natural disaster the country has diversified its economy into transportation, communication, and financial services. The imposition of financial sanctions by the US and the United kingdom is another course of their poverty. The government of the country has worked so hard to comply with international demands to leave this sanction.
On their agricultural products, limited water supplies and labor shortage has become a great limitation. Their main agricultural products are tobacco, indigo, cotton, and Ginger as cash crops. sugar is of greatest importance to the economy, it has surpassed other crops grown in the area, due to the decline in the sugar industry the GDP per capita has been reduced to $18400 inflation rate has become high in this in Antigua and Barbuda.
The Caribbean is known for their dependence on agricultural products, but due to lack of good infrastructure and good governance they are not able to export these products, in order words renders the country poor.
In the country generally, education is made free and compulsory, even medical health Care but only the rich afford to provide the requirements.