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The World’s 15 Fastest Growing Economies

Curious to know what the world’s fastest growing economies are? Based on the data provided by the International Monetary Fund (IMF), we have compiled a list of the world’s 15 fastest growing economies. The indicator used to rank the nations is the compounded annual growth rate, or CAGR for short, for the years 2013-2017. All of the nations in our list are located in either Asia or Africa, and an overwhelming majority relies on oil exports as the main contributor to economies.

We would like to specify that this is not a countdown of the best economies in the world. It is simply a list compiling the nations which are presumed to grow the fastest over the course of the following four years. Wondering who’s made the countdown? Let’s take a look.

No. 15: Turkmenistan

Turkmenistan59Public Domain Image: Public Domain

2013 GDP (%): + 7.69
CAGR (%): + 9.18
Economic boosters: agriculture & natural gas and oil exports

See the rest of the world’s fastest growing economies on the next few pages, and for more list-sanity, check out our coverage of the highest jobs in demand.

No. 14: Laos

419px-Patou_XayPublic Domain Image: Public Domain

2013 GDP (%): + 8.05
CAGR (%): + 9.19
Economic boosters: farming & mining

No. 13: Zambia

800px-Lusaka_-_Manda_Hill_Shopping_CentrePublic Domain Image: Public Domain

2013 GDP (%): + 8.19
CAGR (%): + 9.24
Economic boosters: copper mining

No. 12: Mozambique

Buildings_in_MaputoPublic Domain Image: Public Domain

2013 GDP (%): + 8.40
CAGR (%): + 9.29
Economic boosters: aluminum exports

No. 11: The Republic of Congo

Nabemba-modPublic Domain Image: Public Domain

2013 GDP (%): + 5.29
CAGR (%): + 9.31
Economic boosters: oil exports

No. 10: Papua New Guinea

800px-Port_Moresby_Town_MschlauchPublic Domain Image: Public Domain

2013 GDP (%):+ 3.99
CAGR (%):+ 9.27
Economic boosters: agriculture & copper, gold, oil, and natural gas exports

No. 9: China

Modern_Beijing_Skyline_Oct2004Public Domain Image: Public Domain

2013 GDP (%): + 8.23
CAGR (%): + 10.02
Economic boosters: alternative energy & exports (China is the world’s biggest exporter)

No. 8: Libya

Al_BaydaPublic Domain Image: Public Domain

2013 GDP (%): + 16.69
CAGR (%): + 10.38
Economic boosters: natural gas and oil exports & the construction and services industries

No. 7: The Democratic Republic of Timor-Leste

600px-Timor_islandPublic Domain Image: Public Domain

2013 GDP (%): + 10
CAGR (%): + 11.92
Economic boosters: oil and gas exports

No. 6: Iraq

800px-Eskan_TehranPublic Domain Image: Public Domain

2013 GDP (%): + 14.67
CAGR (%): + 13.56
Economic boosters: oil exports & foreign investments

No. 5: Mongolia

800px-Bogd_Khan_Uul_Mount_view_from_Ulan_Bator,_MongoliaPublic Domain Image: Public Domain

2013 GDP (%): +15.74
CAGR (%): 13.83
Economic boosters: gold, copper, tin, tungsten, uranium, and coal exports & foreign investments

No. 4: Bhutan

Jacaranda_bhutanPublic Domain Image: Public Domain

2013 GDP (%): + 13.50
CAGR (%): + 14.46
Economic boosters: agriculture, forestry & hydropower exports

No. 3: Guinea

GuineaNigerPublic Domain Image: Public Domain

2013 GDP (%) +5
CAGR (%): + 16.27
Economic boosters: bauxite, gold, iron ore, and diamonds exports

No. 2: South Sudan

Juba_Sudan_aerial_viewPublic Domain Image: Public Domain

2013 GDP (%): + 69.60
CAGR (%): + 19.85
Economic boosters: agriculture, farming & oil exports

No. 1: São Tomé and Principe

800px-Ermida_de_São_Tomé,_Ponta_da_ilha,_Manhenha,_Piedade,_Lajes_do_Pico,_ilha_do_Pico,_Açores,_PortugalPublic Domain Image: Public Domain

2013 GDP (%): + 5.5
CAGR (%): + 31.5
Economic boosters: oil exports & foreign investments

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