Top 5 Southeast Asia's Poorest Countries Based on 2024 GDP per Capita

TEMPO.CO, Jakarta - The Asian Development Bank (ADB) reported that the COVID-19 pandemic pushed an estimated 4.7 million people in Southeast Asia into extreme poverty in 2021. The pandemic resulted in the loss of 9.3 million jobs, with the most significant impact felt by unskilled workers, those in the retail and informal economy sectors, and small businesses lacking digitalization.

In April 2024, the International Monetary Fund (IMF) in its World Economic Outlook report compiled a list of the poorest countries in Southeast Asia based on the lowest GDP per capita in 2024 as follows:

1. Myanmar

Myanmar, with a GDP per capita of only US$1,247 or around Rp18 million, ranks as the poorest country in Southeast Asia. According to a United Nations Development Program (UNDP) report, the middle class in Myanmar has shrunk by 50 percent since the military coup in February 2021.

The military coup has had a devastating impact on the country's economy, causing a surge in poverty. 

The middle class, which was once resilient and capable of aiding the country's recovery, has been forced back into poverty. Approximately 12,000 families and households across Myanmar have been compelled to reduce healthcare and education costs, incur debt, deplete savings, and decrease food portions.

2. Timor Leste

In second place is Timor Leste, with a GDP per capita of US$1,453 or around Rp21.7 million. According to the World Bank, Timor Leste faced the daunting task of building public infrastructure and institutional frameworks following its independence from Indonesia in May 2002.

As a result, economic fragility has emerged as the country's most significant challenge. Additionally, approximately 47 percent of children suffer from stunted growth due to inadequate education services. These challenges have been further exacerbated by the COVID-19 pandemic.

3. Laos

A World Bank survey conducted in early 2024 revealed that 81 percent of households in Laos were affected by inflation, and over 60 percent of respondents were forced to reduce their food portions. 

As a result, the country's malnutrition rate has continued to rise, leading to economic losses of up to US$200 million per year. In 2017, approximately 33 percent of children under the age of five in Laos experienced stunting, 21 percent were underweight, and 9 percent were classified as severely thin. This malnutrition has a direct impact on Laos' GDP per capita, which stands at only US$1,976 or around Rp29.6 million.

4. Cambodia

According to the World Bank, Cambodia's economic growth experienced a rapid average rate of 7.6 percent from 1995 to 2019. However, the COVID-19 pandemic has led to an increase in unemployment and poverty, resulting in a GDP per capita of US$2,627 or approximately Rp39.4 million as of April 2024. Furthermore, the rise in energy and food prices due to the Russia-Ukraine conflict has added to Cambodia's economic burdens.

5. Philippines

The Philippines ranks as the fifth poorest country in Southeast Asia based on GDP per capita, with a value of US$4,130 or around Rp61.9 million. In 2023, the national poverty rate was 10.9 percent, equivalent to 2.99 million Filipino families who lacked sufficient income to meet their basic needs.

Indonesia, on the other hand, occupies the seventh position with a GDP per capita of US$5,270 or approximately Rp79 million. Indonesia is ranked below Vietnam, which has a GDP per capita of US$4,622 or around Rp69.3 million.

MELYNDA DWI PUSPITA

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