ADVERTISEMENT

10 countries that spend the most and least money on food - Nigeria tops the list

A proof of a thriving or dying economy is the percentage of citizens' income that is spent on food.

Countries that spend the most/least money on food [shuttershock]

Countries that spend less of their income on food

According to the U.S. Department of Agriculture Economic Research Service, Americans spend only 6.6% of their income on food. However, if you eat out regularly, they’ll spend 11% of their income on food.

ADVERTISEMENT

This Southeast Asian country spends the least money on food, according to research conducted by e-commerce company Picordi in 2023. They stated that Singaporeans spend only 8.4% of their monthly income on food.

Despite the rising costs of living in the United Kingdom, food is relatively cheap. According to reports, people who live in the UK only spend 8.7% of their income on food.

ADVERTISEMENT

According to the World Economic Forum, Ireland is one of the cheapest countries to eat, with residents and citizens spending only 9.6% of their income on food.

The Swiss also spend less money on food than most countries. Picordi reports that 9.9% of their income is spent on food.

Unfortunately, many of the countries that spend the most money on food are in Africa, highlighting the deep poverty in the region. The high cost of importation and poor agricultural practices account for this.

ADVERTISEMENT

As of 2023, Nigerians spend about 59% of their income on food. This is due to the rising cost of food inflation. Nigeria’s annual inflation rate rose to 29.90% in January from 28.92% in December 2023, according to the National Bureau of Statistics—even the World Economic Forum has stated that Nigerians spend the most money on food.

Myanmar is a Southeast Asian country with more than 100 ethnic groups, bordering India, Bangladesh, China, Laos, and Thailand. The food inflation in Myanmar is also pretty high—56.6%.

ADVERTISEMENT

Kenya was closer to Nigeria when it came to expensive food resources, but they have been displaced by Myanmar and are now the third country that spends the most on food. An average Kenyan spends 56.1% of their income on food.

Bangladesh is a country in South Asia. According to various reports, food prices are quite high in this country. The people in this country spend 52.7% of their income on food.

This is a landlocked country in Southeast Asia. People in this country spend at least 50.6% of their income on food.

ADVERTISEMENT

With wars, natural disasters, conflicts, and recessions happening globally, food inflation has increased this year. According to the World Economic Forum, here are 10 countries with the highest rate of food inflation:

  1. Zimbabwe: 245%
  2. Venezuela: 158%
  3. Lebanon: 143%
  4. Argentina: 95%
  5. Turkiye: 77%
  6. Ghana: 60%
  7. Sri Lanka: 59%
  8. Rwanda: 59%
  9. Suriname: 55%
  10. Haiti: 53%

Farmers need to grow more food, exports and imports need to make food trade between countries easier, poor people need to be protected when food prices go up, and investments need to be made so that food supplies stable are when conflict, climate change, diseases, and pests cause disruption.

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

What is body-to-body massage and is it worth it?

What is body-to-body massage and is it worth it?

20,000 people have disappeared in this area in the past 50 years

20,000 people have disappeared in this area in the past 50 years

10 diseases that can reduce sexual performance in men when left untreated

10 diseases that can reduce sexual performance in men when left untreated

How Love Ends: My genotype made me lose the love of my life

How Love Ends: My genotype made me lose the love of my life

How to block Zenith Bank account and ATM

How to block Zenith Bank account and ATM

Big Booty Ranking: Top 10 countries where women have the biggest butts

Big Booty Ranking: Top 10 countries where women have the biggest butts

How to block your Opay account

How to block your Opay account

What to know about shilajit, a natural sexual boost for men

What to know about shilajit, a natural sexual boost for men

How 1 woman became first lady of 2 different countries — she married 2 presidents

How 1 woman became first lady of 2 different countries — she married 2 presidents

4 reasons pregnant women are not allowed to wear heels

4 reasons pregnant women are not allowed to wear heels

You can get sentenced to death for drug and alcohol use in these 7 countries

You can get sentenced to death for drug and alcohol use in these 7 countries

How to block your GT Bank account and ATM card

How to block your GT Bank account and ATM card

ADVERTISEMENT
ADVERTISEMENT