The fastest growing economy on the planet isn't China but it is Bhutan. You could be surprised by this ranking but the fact is that Chinese economy had been saturated. Bhutan depends on Gross National Happiness and it accounts for the growth of the nation by the happiness index. It is the only country to take action but as per an estimate, the GDP growth for Bhutan will probably 11.1% in 2017. The nation is surrounded by India, China, and the Himalayas but it shares good ties with India. Bhutan's economy is determined by the agriculture and it also exports hydro-electricity to the neighboring countries. Top Fastest Economic Growth Countries in the World. It can also be a country with lowest carbon footprints in the world.
On number 2, we have Ethiopia and the united states features a GDP growth rate of 8.7%. In the past, the country's GDP grew at the rate of 10.9% and hence the goal is easily achievable for the country. The country features a location which helps it in trade and that forms the base of the economy of Ethiopia.
Ghana is another African Nation on our list and the expected growth rate for the country is 8.1%. The country is heading towards an increased political stability that is forming a strong foundation for the economy of Ghana. As well as this, the economy of Ghana is dependent on chocolate, gold and oil reserves that is surely helping the nation in advancing forward. The growth for the country had been slow recently but this will easily be compensated in the coming years.
We have another country from western Africa and Ivory Coast features a growth projection of 8.5%.Top Fastest Economic Growth Countries in the World. In addition to this, the tourism plays a significant role in the development of Ivory Coast. There clearly was a period of recession and economic turmoil in the 1970s but the nation got out of it and today, it is among one of the fastest growing economies in the world.
On number 5, we have India. Depending on the growth forecast, the economy of India is growing at a speed of 7.7% in 2017 and it is also the world's 7th largest economy. In addition to this, India adopted the policies of liberalization, globalization, and privatization in 1990 which cause the growth of the nation. Today's government headed by Mr. Narendra Modi is launching schemes like Make in India that will be helping in increasing the GDP significantly. It will also be noted that India is one of the very attractive destinations for FDI and and also this accounts for a greater growth factor of country's GDP.
The expected growth rate of the economy of Uzbekistan is 7.4% and it's very near Myanmar. Top Fastest Economic Growth Countries in the World. The country is found in central Asia and it's surrounded by countries like Afghanistan, Kyrgyzstan, and Tajikistan. The reason for the high growth of Uzbekistan is that the united states has got the fourth largest gold deposits in the world and the mining industry forms the foot of the economy of Uzbekistan. The country has high reserves of oil and gases as well which further intensifies the growth in the GDP.
Discussing Myanmar, the country's GDP keeps growing due to increase in exports and economic reform. Myanmar also has a high FDI and all that's because of the economic reforms earned last few years. Depending on the statistics, the GDP of Myanmar keeps growing at an interest rate of 7.4% and it's surely a good growth rate for the united states that's not so at the top of resources.
We've another African Nation on our list and for Tanzania, the growth in GDP is expected to be always a little more than Laos.Top Fastest Economic Growth Countries in the World. The statistics stand at 7.1% and you would be surprised to know that Tanzania is really a really poor nation and additionally, it lacks natural resources. The economy of Tanzania is dependent on the mining industry and gold is one of the most mined minerals in Tanzania. Since 2008, Tanzania is growing at a fast rate and it's really successful as a result of banking, tourism, and telecommunication sector.
Laos is situated on the Indochinese peninsula and the country has got the ninth spot on our list. The expected growth of GDP in 2017 for Laos is 7% and the explanation for the high development of the country is the fact Laos generates lots of hydro-electricity. It's among the exporters of electricity as it distributes a major percentage of electric production to its neighboring states. China, Thailand, and Vietnam would be the major importers of electricity from Laos and the country the country also utilizes the metal minerals for generating income for the individuals of its country.
On number 10, we have Djibouti and the growth rate of GDP for Djibouti is 7%. Along with this, it is actually an African nation and it is situated at the border of Ethiopia. Top Fastest Economic Growth Countries in the World. The country isn't very wealthy in natural resources and that's among the reasons why the economy here is influenced by the service industry. The country follows a totally free trade policy which supports in growth of the nation. The country is taking various initiatives to attract foreign investments whilst the service dominated economy can surely benefit a lot from the FDI.
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