Poverty rate in select regions, 1981-2021
World Bank
01 Dec 2023
Global poverty rates have declined over the years due to increased access to resources, technological advancements, and globalization. However, the Middle Eastern region has registered an uptick in poverty, with the prevalence of conflict hindering access to necessities and increasing economic inequality. In East Asia, China's rapid economic growth has led to millions lifted out of poverty. China alone has accounted for three-quarters of the global reduction in the number of people living in extreme poverty over the last forty years. Despite rapid advancements in poverty reduction across South Asia, challenges have emerged in countries like Pakistan and Sri Lanka, where recent economic downturns have impeded efforts toward poverty alleviation. Structural reforms are in place to promote economic recovery, but the effects of the crises are likely to be felt for years to come.
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