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vindheim
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1. Bulgaria – GDP Per capita $11,350

Bulgaria is ranked tenth in the list of Europe’s poorest countries with a per capita GDP of $11,350. When Bulgaria lost its soviet primary market in the 1990s, it attempted to transform itself into a free-market democratic economy which caused a further dent in Bulgaria’s economy.

Bulgaria was hit hard again in the 2008 global financial crisis. Bulgaria’s economy is vulnerable as more than 41% of its population are at risk of falling into poverty according to IMF research.

2. Croatia – GDP Per capita $14,033

Croatia officially known as the Republic of Croatia ranks 11th place in the list of Europe’s poorest countries with a per capita GDP of $14,033. Croatia has a land area of 56,594 square kilometers (21,851 square miles).

Croatia’s reform for privatization and move to a free-market economy was just started by the new Croatian Government when tensions grew and escalated into war in the year 1991. The revenue-rich tourism industry of Croatia suffered major economic loss because of war which led to a more than 40% fall in the GDP.

3. Romania – GDP Per capita $14,469

Romania which derives its name from the Latin name Romanus has a GDP per capita of $14,469.

Romania witnessed good economic growth in the early 2000s which is predominantly dominated by the service sector now. Romania is a producer of machines and electric energy and turned into a net exporter of the same.

4. Poland – GDP Per capita $15,304

Poland officially called the Republic of Poland registered a per capita GDP of $15,304 covering an area of 312,696 square kilometers (120,733 sq mi). Poland is one of the most populous states of the European Union with nearly 38.5 million population.

Poland is now a developed market and the fifth largest in terms of purchasing power parity. Poland is now the fastest-growing market wherein 60% of its working population is employed in the service sector and the rest of them in the manufacturing and agricultural sector.

5. Hungary – GDP Per capita $15,372

Hungary is ranked 14th in the list of poor European countries with a GDP per capita of 15,372. Before World War II, Hungary’s economy was agriculture-driven. Later forced industrialization policy influenced by Soviet pattern changed the economic nature of the country.

Even though it witnessed rapid growth due to Soviet-type economic modernization but it was on the basis of outdated technology. New tech sectors like modern infrastructure, services, and communication were ignored and priority was given to heavy industries of iron, steel, and engineering.
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Poland
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