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Sub-Saharan Africa is home to more than half of world’s extreme poverty- World bank

Sub-Saharan Africa is home to more than half of world’s extreme poverty- World bank

1 in 10 people in the world live under $1.90 a day, and half of the extreme poor live in Sub-Saharan Africa- World bank

Global extreme poverty continues to fall rapidly. In 2013, the year for which the most comprehensive data on global poverty is available, 767 million people, or 10.7 percent of the population, were estimated to be living below the international poverty line of $1.90 per person per day. Around 100 million people moved out of extreme poverty from 2012 to 2013, and since 1990, nearly 1.1 billion people have escaped extreme poverty.  The global poor are predominantly rural, young, poorly educated, are mostly employed in the agricultural sector, and live in larger households with more children.

Despite progress, extreme poverty remains unacceptably high, especially in Sub-Saharan Africa. The region now has the largest number of extreme poor in the world, 389 million, which accounts for half of the total number of extreme poor in the world, and more than all the other regions combined. The decline in extreme poverty was largely fueled by the rapid advances in two regions – East Asia and the Pacific and South Asia –specifically in China, Indonesia, and India.

Also read 1 in 10 people live below the poverty line- World Bank

world-bank-infographics

In 60 of 83 countries monitored, the incomes of the poorest 40 percent grew

The larger the growth rate in the income of the bottom 40, the more quickly prosperity is shared among the poor. Despite the global financial crisis of 2008 and 2009, in 60 of the 83 countries studied, the bottom 40 experienced positive income growth, representing 67 percent of the world’s population. In 49 countries, the income growth of the poorest 40 percent of people exceeded that of the top 60. However, in 23 countries, mostly high-income industrialized ones, the poorest 40 percent saw their incomes actually decline.

East Asia and the Pacific, Latin America and the Caribbean, and South Asia registered the best average growth performance among the bottom 40 with annualized rates of 5.0 percent, 4.1 percent, and 3.7 percent, respectively. On the other hand, the bottom 40 in the industrialized countries experienced an average contraction of 1 percent of their income.

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