Rich Countries

Top Ten Countries with Fastest Growing Economies

FASTEST GROWING ECONOMIES IN THE WORLD

An economy of a particular nation is consisted on production, consumption and trading of goods and the services in a region. A nation totally depends on its economic position and stability so it has great significance for every nation to maintain a stable and strong economy to survive in the world. The economy of different countries can be measured as having developed through the following stages of priority:In past the economy was chiefly based on farming.
The industrial revolution stage decreased the role of subsistence farming.

GDP (Gross Domestic Product) of a nation is measured through which the size of an economy can be measured. Except the GDP, there are more than a few methods to measure the economy of nations and from these methods some are as follows:

  • · Exchange Rate
  • · GDP per capita
  • · Consumer spending
  • · GNP (Gross National Product)
  • · Interest Rate
  • · Rate of Inflation

Recently the Economist Intelligence Unit has exposed in an Economic Report for the year 2014 which showed the annual economic growth of different countries and this list also includes the nations that are expected to be the fastest growing economies this year. Before giving you this 2014 ranking list we have eliminated two names from which South Sudan was on the top of the list with 35% expected growth rate but currently it was misleading so we pulled it from the list as because since 2012, it stopped its oil exports that were making it the fastest growing economy around the world and the reason for which South Sudan stopped and declined its oil exports was the dispute with its neighbor country Northern Sudan. Similarly the second country we eliminated from the list is Macau placed on 3rd spot in the list but as we know it’s not a country but it is small size administrative region located in china so we removed these two names from the list and prepared a list showing the top ten countries that are expected to be the fastest growing economies in 2014.

 

List of Top Ten Fastest Growing Economies In the World
Rank Country Growth Rate
(Percentage)
1. Mongolia 15.3
2. Sierra Leone 11.2
3. Turkmenistan 9.2
4. Two-way tie: Bhutan 8.8
5. Libya 8.8
6. Three-way tie: Iraq 8.5
7. Laos 8.5
8. Timor-Leste 8.5
9. Eritrea 8.0
10. Zambia 7.9

 

 

Have you noticed that expect Libya; all the countries are considered the poorest countries around the world? And from These poor countries mostly are enriching their economy with the help of their natural resources frequently a sole natural reserve. These nations are raising their economic growth by selling their natural resources to the developing countries.

Today, that’s not new and amazing trend for a poor nation to grow and enrich its economy by selling its natural resource to a rich nation. Today Saudi Arabia is the great example who transformed itself within the half century of selling oil to western countries around the globe. Similarly, the Broader Middle East and the Persian Gulf have never been alike.

Mongolia has been given the first spot only because it has taken scores of essential measures to be world’s fastest growing economy during 2012 and it has been enriched enough by selling its natural resources to China. Moreover still it is doing the best to survive and maintain its economic growth. But still Mongolia has not figured so within the short span of time its economic growth has also created great pollution and inequity in the financial circumstances.

Mongolian Economic Growth

And from These poor countries mostly are enriching their economy with the help of their natural resources frequently a sole natural reserve. These nations are raising their economic growth by selling their natural resources to the developing countries.
Today, that’s not new and amazing trend for a poor nation to grow and enrich its economy by selling its natural resource to a rich nation. Saudi Arabia is the great example who transformed itself within the half century of selling oil to western countries around the globe. Similarly, the Broader Middle East and the Persian Gulf have never been alike.
Mongolia has been given the first spot only because it has taken scores of essential measures to be world’s fastest growing economy during 2012 and it has been enriched enough by selling its natural resources to China. Moreover still it is doing the best to survive and maintain its economic growth. But still Mongolia has not figured so within the short span of time its economic growth has also created great pollution and inequity in the financial circumstances.

However the reality can’t be denied that Mongolia is expected to be world’s Fastest Growing Economy with 15.3% growth rate in 2014.

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