• BLOG SURF
KATHMANDU, APRIL 10
The April 2022 update to the newly launched Poverty and Inequality Platform (PIP) presents new global poverty estimates for 2018 and revises previously published estimates, as a result of newly available survey data and several changes to the underlying data (see this document for more details).
The global poverty rate (at the US$1.90 poverty line) in 2018 is 8.6 percent, down from 9.1 in 2017, equivalent to a decline by 28 million poor people between the two years.
This confirms a continued reduction in extreme poverty at the global level, although at a slower pace in more recent years, as previously noted.
In fact, global poverty fell by 2.8 percentage points between 2012 and 2015 (from 12.9 per cent to 10.1 per cent), and by 1.5 percentage points between 2015 and 2018.
We are able to publish the new global estimate for 2018 due to new surveys added with this update which improve data coverage for low- and lower-middle-income countries (up from 48.5 to 50.7 per cent).
A version of this article appears in the print on April 11, 2022, of The Himalayan Times.
