Top fastest growing economies in the world

Top Fastest Growing Economies in 2009

by Roman on January 6, 2009

2008 was a mess. Everything changed from great to being a disaster. The markets were down and most of the world’s leading economies slipped into recession.

For most of the world 2009 is not looking any brighter. The United States, Great Britain, France, Germany and Japan are all expecting a standstill of their economies or a recession.

For the first time in decades we are facing a situation where the fastest growing economies will be countries that are virtually unheard of in the western world.

5 fastest growing economies in 2009

Here is a list of top 5 fastest growing countries as predicted by The Economist.

5. China – 8% GDP Growth

China China is the only superpower that makes the list of fastest growing countries in 2009. This second largest exporting country (Germany is no 1) has the world’s largest population of 1.3 billion potential consumers. While the rich world is in recession and Chinese exports are taking a hit – China is relying on the growing demand for products from its own people. Thanks to the expanding middle class Chinese economy is as strong as ever.

4. Malawi - 8.3% GDP Growth

Malawi This small southeast African country is one of the poorest in the world. For the last few years it has had a democratic government that is rapidly increasing living conditions throughout the country. In addition to having large uranium deposits Malawi is mostly known as an exporter of tobacco, coffee, sugar and tea.

After president Bingu wa Mutharika started a fertilizer program intended to boost crop production Malawi is doing better than ever. The program has radically improved agriculture and allows to export more goods – thus leaving Malawi unaffected from the global recession.

3. Congo (Brazzaville) – 8.5% GDP Growth

CongoThis central African country gets most of its income from selling oil, gas and petroleum. Most people live in the capital Brazzaville or in one of the small cities along the countries one and only 332-mile (534 km) railway.

In 1997 a 5 month civil war erupted in Congo – when it ended, president Sassou Nguesso expressed interest in economic reforms with the intent to take the country out of poverty. This reforms are still taking place today.

2. Angola – 9.8% GDP Growth

AngolaJust like in the rest of the world – economy in Angola is actually slowing down. In 2005 and 2006 it boasted with economic growth of around 20%. Almost all of the countries economic growth comes from oil and Angola’s ability to sell more of it every following year.

Angola has increased its oil production so much that as of 2007 it is the largest supplier of oil to China.

1. Qatar – 13.4% GDP Growth

QatarIt seems that being one of the richest countries in the world is not enough for Qatar. While being a poor country in the past, Qatar discovered huge reserves of oil and gas in the 1940-s,that completely transformed its economy.

Qatar offers most of its services to its citizens for free and has no income tax. The amount of money they get from selling oil is more than enough for their small yet thriving economy.

Never heard about most of these countries?

Don’t worry – neither have your friends. If you leave China out of this list then the combined gross domestic product for Qatar, Angola, Congo and Malawi is about the same as the GDP of Hong Kong (and Hong Kong is just 1 city – although very large).

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{ 66 comments }

Current account January 23, 2009 at 6:31 am

That’s pretty much countries with natural resources. I was expecting to get a top 10 breakdown somewhere online.THANKS

Roman January 23, 2009 at 11:57 am

You’re welcome!
Unfortunately all the usually fast growing countries are affected by the credit crunch and won’t have a fast growth rate in 2009.
But I am sure that they will be back in 2010 or 2011

Steve February 22, 2010 at 12:49 pm

Well Roman, major industrilized countries have not been among the top 10 performers for the last years, China and emerging economies have been leading the carts, so more likely that US and European countries will still be off the charts.

Azan January 25, 2009 at 4:22 pm

i just came to this website to get some figures but forget anything to see u, u r very beautifull MASHAALLAH,may ALLAH gives you more strangth and wat ever u want in ur life which good for u.

Steve February 22, 2010 at 12:52 pm

Yep, Oil producers mainly, growth does not mean development or industrialization. And we all know oil prices these days, so that factor may be hidding deep undevelopment circumstances.

Hey!Arnold January 27, 2009 at 6:35 am

Interesting facts you’ve added here. But don’t forget there’s a country called Ghana in West Africa. Check and compare GDP and other important facts about economic growth with other countries. I would appreciate it if you can do this. Thanks.

Tumen January 31, 2009 at 3:31 pm

That is a good and unprecedented performance for small economies such as Malawi of which of course, very little is known about them. Investors out there, this is your opportunity to make the most out of these economies whose growth have been steadily growing over time. They need investor support to boost their perfomance and increase the living standards of their ppo. That’s a buz opportunity, Men!!!

Eliza June 1, 2009 at 8:23 pm

As a Malawian, I am thrilled that my country is on the list and Kudos to our current president Bingu, he is doing great. But I am not so thrilled about “investors” rushing to Malawi. Somehow it always reminds me of the colonial times “Scramble for Africa”. The reason why a lot of African countries are in the mess they are in despite the riches that exist in their lands. Transparency has to be emphasized. We all know that poor people are easily bought. No funny business needed!!!

Shridutt February 9, 2009 at 1:06 pm

I thought India is one the fastest growing nation of the world, but it might be wrong.

Fahad January 21, 2010 at 2:22 pm

yes u are wong

mm February 4, 2010 at 10:16 am

shut up u idiot .. india is number 7 now …. check ur database again ….

Steve February 22, 2010 at 12:57 pm

You are not that wrong, depending on the sources you may find India at least at the second place, i’ve been checking FMI, World Bank, CIA, and other independent sources and you can find different answers. But we can be sure that India is among the first ones. Congratulations for the indians, it’s a merit since its growth is not based on oil. I believe we should not consider oil producing economies in this chart if we want to identify economies with a real potential.

Roman February 24, 2010 at 7:54 am

The growth of India is fueled by the rapid growth of it’s population – that means that in total they want to buy more and more stuff every year.

Jim February 15, 2009 at 5:04 am

These are just predictions. In this recession period, countries are reducing imports. Sales are already decreased all over the world. I believe countries which have natural resources, agricultural growth and domestic demand may have economic growth. I think India,China,Germany,Japan will be in this list. India may have upper hand in year 2009 comparatively China.

almaha February 21, 2009 at 11:02 am

qatar is the most fastest growing enconomies in the world and the second richst country in the world

narender August 12, 2010 at 10:25 pm

shut up u idiot

miller March 11, 2009 at 6:03 pm

I think this ranking deadly wrong.
A tleast, I know Ethiopia is 4th fastest growing economy.( source economist)

GREGZ April 4, 2009 at 5:33 pm

You are right miller.

I do not think the right prediction of the Economist was like that (according to the Economist, 2009) please refer to the correct report here:

http://www.economist.com/markets/indicators/displaystory.cfm?story_id=12818136

miller April 16, 2009 at 2:56 am

Hahaha

what do u mean? did u see the link you posted?
Next to china is still Ethiopia.
I am not Ethiopian but We must acknowledge the fact of Economist prediction or you must come up with your own prediction. Donot mess up things :)

AL-Mohannadi April 16, 2009 at 11:53 pm

Wooohaooo Go Qatar

Yeah baby that’s what I’m talking about :)

Roman April 17, 2009 at 9:10 am

Yeah, Qatar is doing pretty good…
We’re having a negative growth for the first time over 20 years here in Estonia…

alansari May 22, 2009 at 2:02 pm

Go Qatar . . .

sachin May 25, 2009 at 11:46 pm

at present china is the biggest and india is the second largest growing economy in the world.

Dave August 10, 2009 at 9:42 pm

Don’t mess your mind with false reporting of Indian media….dude….and accept the fact that India is not on the list.

-Dave

venkat January 23, 2010 at 3:31 am

no dave i think sachin is right india is the second largest economic developing country in the world

Lovemore Kamchira June 20, 2009 at 12:34 pm

Its interesting to note that there is a shift now in the rankings and malawi according to latest statistics is second from Qatar as far as economic growth is concerned. Let the world support this poorest country come back to its feet. The good part is that growth is carminating from within the Malawians themselves. Change is coming out of Malawi itself. As one of the great motivational speakers once said, when change originates from within a person, he is bound to rise very far. Keep the good spirit of leadership Malawi.

kamcira September 27, 2009 at 7:21 am

Brother ,
came accross your encouraging remarks concening the way Malawi as country has been fearing and being the second as is indicated .Its nice when a brother who is far out there keeps an eye on the motherland and its progress.That’s being patriotic . Next time send these remarks straight to the president himself.
wishing you good health.
Fredson Kamcira- Balaka, Malawi

Anthony June 22, 2009 at 5:48 am

CONGOOOOOOOOOOOOOOOOOOOOOOO
best in world

Anthony June 22, 2009 at 5:50 am

I am from D.R Congo and i love the fact that in the last 10 years we have fourght the economical downfall and can only move up in the world

Betinho August 18, 2009 at 12:37 pm

Anthony they are talking about Republic of Congo (Brazaville) and not D.R.C. (Kinshasa).

Lovemore Kamchira June 22, 2009 at 9:46 am

Bravo Congo. So motivating and encouraging. Have seen even the advertising on the television on investing in Congo. It is so exciting. Keep the good work. Africa must arise

Toader Nambar Uan June 27, 2009 at 2:49 pm

Hey i resent that! I have heard of’em!:)) I was going to say except for Malawi but i have heard of it by it previous name “Nyasaland”, anyway it’s very nice of you to post such information, it’s good to get outta the box and get to know the world we live in :)

Phiwe August 10, 2009 at 3:25 pm

What about South Africa since we are da richest country in Africa

Juno August 12, 2009 at 5:42 am

Why hasn’t anyone mentioned South Korea yet?? South Korea’s got the second largest annual revenues (after Japan). Lets not forget that they’re both “developed” countries… So if China, India (“developing countries”) and Japan’s mentioned, it’s foolish not to mention SK.

Juno August 12, 2009 at 6:05 am

second largest in Asia I meant..

bryt September 19, 2009 at 4:42 pm

Bravo malawians keep it up.

Collins October 8, 2009 at 8:54 pm

I simply agree with this,Bravo!

goodwill November 2, 2009 at 8:41 pm

If Malawian economy is doing so well why are they flocking in large numbers to South Africa and while there ,they offer themselves for cheap labour while the grass is green on the other side.

Roman November 3, 2009 at 10:11 am

Malawian economy is extremely tiny – they almost don’t have an economy. That is also why it is very easy for their economy to grow.
The economy can grown with an extremely fast tempo, but it doesn’t mean that it is more advanced than lets say the economy of USA which is currently going downhill…

Amit November 6, 2009 at 12:22 pm

I love qatar. I want it to go further.

Jonathan Raneses November 23, 2009 at 11:03 pm

Philippines all the way BABY!!! :)

addis November 28, 2009 at 7:53 am

Hey Sir,
I do’t think your pridiction is genuine.please,see the list on
http://www.economist.com/markets/indicators/displaystory.cfm?story_id=12818136.
There is a country called Ethiopia (Mother of Africa).

SingaporeBoi December 7, 2009 at 11:20 pm

HONG KONG!!?? I HATE HONG KONG. Hey Roman,is Hong Kong GDP is bigger than Singapore’s?

Roman December 8, 2009 at 10:24 am

Nope, the gdp of Singapore is bigger.

Abby December 9, 2009 at 3:24 pm

I think you must be missing ETHIOPIA which is dramatically accelerating economy in the world…you need to review your data.

lsv January 5, 2010 at 8:50 am

where is india in this list?it is going to be the next super power….

Adam January 14, 2010 at 11:47 am

China should be 1st

LOL January 14, 2010 at 11:02 pm

hehhehheh, which version of economics are you studying. Today world has accepted the fact that China and India are the two epicenters of world economic growth, if you still doubt. The just clear it by your research on google.com. 3 trillion or 1 trillion dollar economies are no where in your figures….lolz…..This is what i believe are miss perceived figures in your data…….

Fahad January 21, 2010 at 2:20 pm

Qatar rules and Qatar is the richest and most developed country in the world and no matter what people say Qatar is the first and the second richest in the world not like india and ethopia these are like the 3 class contries DONT SAY NO because it is just it and QATAR RULES

venkat January 23, 2010 at 3:38 am

what quatar rules. i challange u that by 2050 india will be the super power and more than double to united states .definitely the day will come when the oldest country in the world which taught the value of 0 will rule the world

Diwi January 25, 2011 at 11:07 pm

INDIA is greatest country in the world said by albert einstien.
1-world’s development is based on engineers and engineers on maths and the whole maths is given by india from 0 to calculus and trignometry.now if india would’nt be on the global map then where would be worlds development occurs.
2-INDIA is one of the six country which have their own satellite. Can any body tell how many satellites qatar does have their own.
Now qatar is boasting on their oil wells but country like usa and china become developed due to their constant efforts and INDIA too get developed by their efforts within a decade or so.
If i go further it may years to talk about the greatness of INDIA.

Ben October 11, 2011 at 2:52 pm

OK, I live in Qatar and I have a reasonable amount of experience in this subject. So, yes, it has one of the highest amounts of growth, and will be the richest country per capita for a long time. It has huge amounts of money to spend, and it doesn’t need to worry about spending/wasting it. But, it’s not the most developed, it’s not the best, it’s not the richest country. And the only thing greater than it’s budget is its arrogance. It has the highest rate of obesity in the Middle East, and it’s entirely dependent on other countries. The maturity of your population is appalling (an opinion shared by many here), and racial equality, and free speech, are two basic things that you do not have. Yes, the countries good. No, don’t ever try to tell someone it’s the best again, because it’s not and you’ll just make yourself sound stupid.

joesel February 14, 2010 at 8:49 am

oh your definitely wrong so your saying that most of 90% economists who believe that 21st century is asian century is wrong fuck your words!?

ankit September 9, 2011 at 3:34 pm

what ‘s the fuck u wana say that’s not the 19 or 20th century when few bloody ass countries ruled and stolen the diamonds of asian and african countries . and now they say themselves rich nonsanse theives. now its 21st century and now asia will show its power and i think u have seen demo of it in 1st decade so grow up baby and accept the truth..

HAGOS February 21, 2010 at 5:00 am

don,t forget guys. growth rate of ethipia in 2009 was above 10 percent

Hailemichael April 22, 2010 at 12:09 am

The Economic graowth rate of Ethiopia is more than 10% for five consecutive years. So, you have to put here clearly.

Mevin May 16, 2010 at 1:16 am

For al the passionate India lovers, India has got potential in itself. At one point China and India were equally growing, but India gave up the chase. Reason being corruption at every levels, from public service to top govt officials. Nothing works according to the governing rules. All cliches, stereotype losers at government level and even people in the country, will never let the country grow. While Qatar s growth is justified, its just not the Oil n gas,its the rulers, the reforms, the advancement at all levels, initiative for thinking out of the box. I am an Indian too, but lived in Qatar n now in Sydney, am but not one bit proud of the way the Indian govt works.

“Yesterday I dared to struggle. Today I dare to win”

akash saxena. August 3, 2010 at 1:39 pm

yes,i think ur right…i always accept the true….i think india realy need hitler and mussolinies kind of rulers…throw the congres out of this country….as well democracy….m i right..plz reply….?

Killaser June 2, 2010 at 7:43 am

I’m living in Qatar since 2001.. and I really love it.. :D

kehone September 19, 2010 at 4:34 pm

oh.I am really upset not to see ethiopia in the list

DAV January 17, 2011 at 3:33 pm

ETHIOPIA ALSO ONE THE FASEST GROWING COUNTRY.i see great things in the country.which might be put the country in the top africa in near future

2pack January 17, 2011 at 3:47 pm

unrecognized by others but fastest going to be rich.i vist ethiopia in 1994,when there were even roadbut now when i see ethiopia on 2010 i realy amzed with the econmic devlopment within short time.if country keep up this development i believe whai dav say

Russian January 18, 2011 at 8:43 pm

This is the fastest economy,not the richest/prosperous/or happiest….
Malawi,Congo,and Angola is poor country.
Now,the biggest and best economy is China,Russia,USA,Indonesia,China,and Germany.

Russian January 18, 2011 at 8:54 pm

This is the 20 richest country in world.Richest not only determine from salary.Top 20 Richest is member of G-20(Group 20 Rich Country and Largest Economy,Industrial Nations,and Important Nations).In 2010,G-20 host is South Korea,and in 2013 will be held in Indonesia.This is the real:
1. USA $11,750,000,000,000
2. China $7,262,000,000,000
3. Japan $3,745,000,000,000
4. India $3,319,000,000,000
5. German $2,362,000,000,000
6. UK $1,782,000,000,000
7. France $1,737,000,000,000
8. Italy $1,609,000,000,000
9. Brazil $1,492,000,000,000
10. Russia $1,408,000,000,000
11. Canada $1,023,000,000,000
12. Mexico $1,006,000,000,000
13. Spain $937,600,000,000
14. S.Korea $925,100,000,000
15. Indonesia$827,400,000,000
16. Turkey $956,576
17. Australia $882,344
18. Iran $830,715
19. Republic of China (Taiwan) $810,487
20. Poland $717,537

izy March 3, 2011 at 8:29 am

hi i just to be friend with you ,do you?

ankit September 9, 2011 at 4:18 pm

whom u said 3clas see ur own countries history it was 4th class. and see india is incredible and having unity in diversity . and see have just oil but we have complete biodiversity about 8.1%of worlds biodiversity. difference is only that u have been using ur oil for long and we have started using our resources now and listen this the starting only …..

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