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Sri Lanka classifies among the 20 poorest countries in Asia

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By: Staff Writer Colombo (LNW): The economic crisis has placed Sri Lanka among the 20 poorest countries in Asia. A report published on International Insider information group noted. Ur added that while Sri Lanka is classified as a developing country, it is currently facing an economic crisis characterized by the devaluation of its currency, increasing inflation, and a humanitarian emergency caused by a severe scarcity of essential goods. The report said that Sri Lanka is one of the poorest Asian countries based on GDP per capita as of 2021. To determine the poorest countries in Asia, the report analyzed data from Credit Suisse’s Global Wealth Databook 2022. The database indicates the GDP per Adult in 2021. GDP per adult helps identify countries with lower average income levels, indicating that individuals in those countries may have limited financial resources. It has selected the 20 poorest countries in Asia based on this metric, ranking the list in descending order of GDP per adult. However, poverty encompasses multiple dimensions, including access to basic needs such as food, clean water, healthcare, education, housing, and social services. To gain a more comprehensive understanding of poverty in a country, it is essential to consider multiple indicators and measures. These aspects are not directly captured by GDP per adult. Sri Lanka GDP Per Adult in 2021 was US 5,555 and It is one of the poorest Asian countries based on GDP per capita. Although classified as a developing country, it is currently facing an economic crisis characterized by the devaluation of its currency, increasing inflation, and a humanitarian emergency caused by a severe scarcity of essential goods. Among the other 20 countries in the bracket of poorest Asian countries are Mongolia, Armenia. Philippines. Bhutan, Laos. Vietnam, Timor-Leste. Bangladesh Uzbekistan.Cambodia. Pakistan, Kyrgyzstan, Yemen,and Myanmar etc.
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