Describe Global Poverty Trends
By BYJU'S Exam Prep
Updated on: November 9th, 2023
Global poverty trends measure the change in the estimated number of people living in extreme poverty around the world in a given period of time. To compare the poverty trends of the last few decades, the extreme economic poverty rate fell from 28% in 1990 to 21% in 2001. Overall, there has been an impressive reduction in global poverty in the years between 1990-2010.
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Global Poverty Trends
Analyzing global poverty trends and estimating the population living in poverty around the world can help in better decision-making. Currently, one-fifth of the entire global population is living below the high poverty line. Even in countries like Russia, which claimed a 0% poverty rate earlier, there has been a rise in poverty.
We can initiate poverty alleviation programs and schemes and take economic decisions that benefit the poorest sections of society in a given area.
Impact of COVID-19 on Global Poverty Trends
In addition, due to the covid-19 pandemic in the last two years, the global poverty rate shot up again. It also resulted in a downturn in the worldwide economy.
- Although global poverty trends showed a decline since the 1980s, there has now been a significant rise since 2020.
- According to global poverty trends, over 9% of the population lived in extreme poverty in the year 2021.
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