Fastest growing country in the world
Mongolian stock brokerThis month, the World Bank cut its 2013 global growth forecast to 2.4 percent (from 3.0 percent), its 2014 forecast to 3.1 percent (from 3.3 percent), and it introduced its 2015 forecast calling for 3.3 percent growth.
We pulled the 20 countries with the highest projected compounded annual growth rate (CAGR) from 2013 through 2015, based on the World Bank’s estimates.
A caveat – this isn’t a list of the world’s best economies, or countries with the highest standards of living. In fact, income inequality plagues many of these nations, which have extremely low levels of GDP per capita. Some of these countries are 'frontier nations' – with extremely low levels of GDP – and as such have an easier time attaining a high growth rate over this selected period.
Most of the countries are underdeveloped, as evidenced by little infrastructure or mass subsistence farming. Five derive the majority of their export value from minerals; and four rely upon oil or gas as a key export.