Discrepancy in the Level and Growth of Economic Development of the World’s Smallest Economies Between 2000 and 2019

This chapter studies the level of economic development of the world’s smallest economies by evaluating their Gross Domestic Product (GDP) per capita. The annual changes have been analyzed for the world’s smallest economies as a group, then categorized by subgroups and finally for the individual economies, for the period from 2000 until 2019. The underlying causes of the observed fluctuations in GDP per capita among the countries under analysis were identified. The final research findings revealed significant discrepancies in the level of economic development between the group of the world’s smallest economies and the global average, as well as a notable widening of the gap between the richest and poorest countries within the study group.