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 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

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

This 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

Just 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

It 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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Here is a top 10 list of worlds richest countries according to CIA World Factbook and Wikipedia measured by GDP per capita. For those in the dark – GDP or Gross Domestic Product – is the value of all the goods that a country produces. GDP per capita stands for the value an average person produces.

10. Switzerland – $39,800 (GDP per capita)

This cheese making country is considered to be one of the most neutral countries in the world. During World War 2, people from other European countries deposited their money in the banks of Switzerland, knowing that their money would be safer there than in their home countries. Some well known Swiss companies include Nestle, Logitech, Rolex and Credit Suisse.

9. Equatorial Guinea – $44,100

The Republic of Equatorial Guinea is a country in Central Africa. Most people have never heard of it. This country flew into stardom after 1996 when large oil reserves were found in the nation of only 0,5 million people. While being one of the largest producers of oil in Africa, little has been made to improve the living conditions of the people. Corruption is widespread and ordinary people are mostly living in poverty. The gap between rich and poor is probably the largest in the world.

8. Ireland - $45,600

This member of European Union has been often admired as one of the most modern knowledge economies in the world. Ireland is the largest maker of computer software in the world. A study done by The Economist ranked the Celtic Tiger to have the best quality of life in the world.

7. United States – $46,000

What sets the US apart from most other countries in this list is its size. While most other countries in this list are among the smallest in the world the US has a population of over 300 million and a total land area of 3,79 million square miles (9.83 million sq km). The US is also home to the largest amount of billionaires in the world. It is speculated that as many billionaires live in the US as in the rest of the world.

6. Singapore – $48,900

This tiny country consists of 63 island and some mainland with a total area of only 270 square miles (704 sq km). With Hong Kong, South Korea and Taiwan it is considered one of the Four Asian Tigers. Singapore has the busiest port in the world and is the 4th largest foreign exchange trading center in the world. Singapore is widely believed to be the most business-friendly economy in the world.

Page 2 – The Top 5 richest countries in the world