The World GDP Growth for 2014 …

The World GDP Growth for 2014 …
The World GDP Growth for 2014 …

Africa and Asia seems that are estimated to shows the highest GDP growth for 2014. Sub-Saharan Africa will achieve a growth close to 5.2 % and Asia, excluding Japan a growth around 5.7%. Japan will growth by 1.7%, Eastern Europe by 3.0%, Western Europe by 1.1%, North America by 2.5%, Latin America by 3.3% and finally, Middle East and North Africa are estimated to growth by 4.0%.

Africa and Asia share the honours in the top 12 countries with the highest GDP growth, but the list of the world’s fastest growing economies in 2014 lacks a heavyweight – China, long a fixture, is absent now that is a slower-growing, middle – income country.  The top growers are here because of war (or rather peace), natural resources or gambling.

South Sudan, which split from Sudan in 2011, has room to grow, supported by oil reserves. Mongolia is buoyed by a mining boom, while Sierra Leone, Turkmenistan, Timor-Leste and Zambia are favored by what they extract from below – mainly iron ore, gas, oil and copper, respectively.

Bhutan’s boon is hydroelectricity exports to India; Macau’s is its casinos. Libya and Iraq are rebuilding after conflict, though stability remains elusive. What most of these countries have in common is size, or lack of it. The fastest five will have a combined 2014 GDP of US$130 billion, about 1/80th of China’s economy.

TOP WORLD GDP GROWERS for 2014

Countries

GDP Growth

1

South Sudan

35.0%

2

Mongolia

15.3%

3

Macau

13.5%

4

Sierra Leone

11.2%

5

Turkmenistan

9.2%

6

Bhutan

8.8%

7

Libya

8.8%

8

Iraq

8.5%

9

Laos

8.5%

10

Timor – Leste

8.5%

11

Eritrea

8.0%

12

Zambia

7.9%

Sources: IMF, WB, IFT

Leave a Reply