Countries with Highest GDP Growth 2019

Developing Asian and African countries lead with fastest GDP growth in the world. 

Data from the International Monetary Fund tells us that Nauru has the fastest growing economy on Earth, averaging an astounding annual growth rate of 12%. The reason? Bird poop. Ever since the nation gained independence in 1968, the country’s economy has been fueled by fossilized bird guano, which—thanks to the high amount of phosphates—makes for an exceptional fertilizer. Then the guano supply dried up almost completely. Today, Nauru survives by virtue of the support it receives from Australia, which has built on the island a detention center for its asylum seekers. With sporadic yearly spikes of over 35% in GDP growth, these sudden injections of foreign funds can boost dramatically—at least on paper—the country’s output. The truth is that Nauru is currently facing financial ruin.

The story of this island, whose economic output entered negative territory last year, is a cautionary tale about the perils of relying on just one source of income. Static snapshots of a country’s GDP figures can be misleading: many once-fast growing economies have seen similar downfalls. It is only when we look at trends over time that the ascent of certain nations and the stagnation of others can be correctly appraised.

Ethiopia, Turkmenistan, Mongolia, Uzbekistan, China, India, Laos, Rwanda: these are the nations that have shown the most sustained and robust GDP growth among close to 200 routinely surveyed by the IMF.

Over the past two decades, Ethiopia has been made improvements to its infrastructure and encouraged greater private-sector involvement in an attempt to transform its agriculture-based economy into a manufacturing hub.  Turkmenistan’s autocratic government has continued relying on its natural gas resources but dwindling commodity prices, lack of diversification and an unfriendly business climate paint the picture of a country now facing an economic crisis. Exports of cotton, natural gas and gold provide significant revenues to Uzbekistan, but its government has done little to modernize the economy. China and India are continuing their march toward domination of the global economy while Lao and Mongolia are taking a page from their old playbook and turning themselves into thriving manufacturing hubs. Rwanda, with its extensive economic development and poverty reduction programs, shows what efficient and democratic political institutions can do to a country once ravaged by civil war and genocide: turn it into an economic miracle.

It is not too hard to see which nations have made plans for long and widespread growth, and which ones draw on finite resources and a business as usual-ways of doing things. It will be interesting to see how they all fare ten years from now.

The Gross Domestic Product of a country can be defined as the total monetary value of the goods and services produced within its borders in a year. GDP growth is expressed as a per cent. The average growth rate has been calculated using the geometric mean to obtain a ten-year equivalent rate.

Country2010201120122013201420152016201720182019Avg Change
Nauru13.611.710.134.236.52.810.44.0-2.4-1.012.0
Ethiopia10.611.48.79.910.310.48.010.17.77.79.5
Turkmenistan9.1614.711.010.210.36.56.26.56.26.38.7
Mongolia7.317.312.311.67.92.41.25.36.96.96.3
Uzbekistan8.58.38.28.07.97.87.36.96.76.67.7
China10.69.57.97.87.36.96.76.86.66.37.6
India8.08.07.88.07.67.37.06.86.56.77.4
Lao P.D.R.8.07.97.88.07.67.37.06.86.56.77.4
Rwanda7.37.88.84.67.68.96.06.28.67.87.4
Ghana7.917.49.07.92.92.23.48.15.68.87.3
Cambodia6.07.17.37.47.17.06.97.07.36.87.0
Bangladesh6.06.56.36.06.36.87.27.67.77.36.8
Tajikistan6.57.47.57.46.76.06.97.17.05.06.8
Còte d’Ivoire2.0-4.910.99.38.88.88.07.77.47.56.6
Panama5.811.39.86.95.15.75.05.33.96.06.5
Bhutan9.39.76.43.64.06.27.37.45.84.86.4
Ireland1.93.70.21.38.825.04.97.26.84.16.4
Philippines7.63.76.77.16.16.06.96.76.26.56.3
Tanzania6.47.95.16.86.76.26.96.86.64.06.3
Maldives7.18.42.47.37.32.97.36.97.06.36.3
Myanmar5.35.67.38.48.07.05.96.82.16.46.3
Vietnam6.46.25.25.46.06.76.26.87.16.56.3
Macao SAR25.321.79.211.2-1.2-21.6-0.99.74.74.36.2
Niger8.42.211.95.37.54.34.94.95.26.56.1
Djibouti4.17.34.85.06.06.56.56.76.76.76.0
Zimbabwe19.714.216.72.02.41.80.74.73.4-5.26.0
Democratic Republic of the Congo7.16.97.18.59.56.92.43.43.94.36.0
Burkina Faso8.46.66.55.84.33.95.96.36.06.06.0
Guinea4.25.65.93.93.73.810.59.95.85.95.9
Kenya8.46.14.65.95.45.75.94.96.05.85.9
Dominican Republic8.33.12.74.97.67.06.64.67.05.15.7
Mozambique6.77.17.27.17.46.63.83.73.34.05.7
Qatar18.113.44.74.44.03.72.11.62.22.65.7
Togo6.16.46.56.15.95.75.64.44.75.05.7
Malta3.51.42.74.68.610.65.76.76.45.25.5
Turkey8.511.14.88.55.26.13.27.42.6-2.55.5
Indonesia6.46.26.05.65.04.95.05.15.25.25.5
Iraq6.47.513.97.60.72.513.6-1.70.62.85.4
Malaysia7.55.35.54.76.05.14.25.94.74.75.4
Sri Lanka8.08.49.13.45.05.04.53.33.03.55.3
Senegal3.61.55.12.86.66.46.27.26.26.95.2
Uganda7.76.82.24.74.65.72.35.06.26.35.1
Sierra Leone5.36.315.220.74.6-20.56.43.83.75.45.1
Singapore15.26.54.35.04.12.52.83.93.22.35.0
Zambia10.35.67.65.14.72.93.83.43.53.15.0
Botswana8.66.04.511.34.1-1.74.32.94.63.94.9
Afghanistan8.46.514.05.72.71.02.22.72.33.04.8
Benin2.13.04.87.26.42.14.05.86.56.54.8
Bolivia4.15.25.16.85.54.94.34.24.34.04.8
Papua New Guinea10.11.14.63.815.45.31.72.40.03.84.8
Nepal4.83.44.84.16.03.30.67.96.36.54.8
Paraguay11.14.2-0.58.44.93.14.35.03.73.54.8
Georgia6.27.26.43.44.62.92.84.84.74.64.8
Seychelles5.95.43.76.04.54.94.55.33.63.44.7
Peru8.56.56.05.82.43.34.02.54.03.94.7
Solomon Islands6.813.24.63.02.32.53.53.53.42.94.6
Cameroon3.44.14.55.45.95.74.63.54.04.34.6
São Tomé and Príncipe6.74.43.14.86.63.84.23.93.04.04.4
Mali5.43.2-0.82.37.16.25.85.44.95.04.4
Kazakhstan7.37.44.86.04.21.21.14.14.13.24.3
Eritrea2.28.77.04.72.92.61.95.04.23.84.3
Moldova7.15.8-0.69.05.0-0.34.44.74.03.54.3
Guinea-Bissau4.68.1-1.73.31.06.16.35.93.85.04.2
Mauritania4.84.75.86.15.60.41.83.03.06.44.2
Armenia2.24.77.13.33.63.30.37.55.04.64.2
Malawi6.94.91.95.25.73.02.34.03.24.04.1
Kyrgyz Republic-0.56.0-0.110.94.03.94.34.73.53.84.1
            
Pakistan2.63.63.83.74.14.14.65.45.22.94.0
Guyana4.45.45.05.03.93.13.42.13.43.84.0
Gabon6.37.15.35.54.43.92.10.51.23.13.9
Egypt5.11.82.23.32.94.44.34.25.35.53.9
Timor-Leste8.57.75.52.54.14.05.3-4.60.85.03.9
Nigeria11.34.94.35.46.32.7-1.60.81.92.13.8
Mauritius4.44.13.53.43.73.63.83.83.83.93.8
Israel5.55.22.24.33.92.64.03.53.33.33.8
Colombia4.37.43.94.64.73.02.11.42.73.53.7
Thailand7.50.87.22.71.03.13.44.04.13.53.7
Libya3.2-66.7124.7-36.8-53.0-13.0-7.464.017.94.33.7
Honduras3.73.84.12.83.13.83.84.93.73.43.7
Costa Rica5.04.34.82.33.53.64.23.42.72.93.7
Estonia2.37.64.31.92.91.93.54.93.93.03.6
United Arab Emirates1.66.94.55.14.45.13.00.81.72.83.6
Saudi Arabia5.010.05.42.73.74.11.7-0.72.21.83.6
Chile5.86.15.34.01.82.31.71.34.03.43.6
Kosovo3.34.42.83.41.24.14.14.24.04.23.6
Poland3.65.01.61.43.33.83.14.85.13.83.6
Morocco3.85.23.04.52.74.61.14.13.13.23.5
Namibia6.05.15.15.66.46.10.6-0.9-0.11.43.5
Chad13.60.18.85.86.91.8-6.4-3.13.14.53.5
The Gambia6.5-4.35.64.8-0.95.90.44.66.65.43.5
Liberia6.47.78.48.80.70.0-1.62.51.20.43.5
Guatemala2.94.23.03.74.24.13.12.83.13.53.4
Bahrain4.32.03.75.44.42.93.53.81.81.83.4
Lithuania1.66.03.83.53.52.02.44.13.42.93.3
Hong Kong SAR6.84.81.73.12.82.42.23.83.02.73.3
Taiwan Province of China 10.63.82.12.24.00.81.53.12.62.53.3
Uruguay7.85.23.54.63.20.41.72.72.11.93.3
Grenada-0.50.8-1.22.47.36.43.75.14.84.23.3
South Korea6.53.72.32.93.32.82.93.12.72.63.3
Lesotho6.36.74.92.23.02.53.1-1.61.53.93.2
Madagascar0.31.43.02.23.33.14.24.35.25.23.2
Nicaragua4.46.36.54.94.84.84.74.9-4.0-5.03.2
Slovak Republic5.02.81.71.52.84.23.13.24.13.73.2
Oman2.02.69.15.11.44.75.0-0.92.11.13.2
Fiji3.02.71.44.75.63.80.73.03.23.43.2
Tuvala-3.17.9-3.84.61.39.13.03.24.34.13.1
Romania-3.92.02.13.53.43.94.87.04.13.13.0
Kiribati-0.91.64.74.3-0.710.45.10.32.32.32.9
Algeria3.62.83.42.83.83.73.21.42.12.32.9
Republic of Congo8.73.43.83.36.82.6-2.8-3.10.85.42.9
Luxembourg4.92.5-0.43.74.33.92.41.53.02.72.9
Mexico5.13.73.61.42.83.32.92.12.01.62.8
Latvia-3.96.44.02.41.93.02.14.64.83.22.8
Iceland-3.41.91.34.12.14.76.64.64.61.72.8
New Zealand2.01.92.52.23.14.04.22.63.02.52.8
Albania3.72.51.41.01.82.23.33.84.23.72.8
Ecuador3.57.95.64.93.80.1-1.22.41.1-0.52.8
Cabo Verde1.54.01.10.80.61.04.74.04.75.02.7
Montenegro2.73.2-2.73.51.83.42.94.74.52.82.7
Australia2.42.83.92.12.62.52.82.42.82.12.6
Hungary0.71.7-1.62.14.23.52.34.14.933.62.5
Sweden6.02.7-0.31.22.64.52.72.12.31.22.5
El Salvador2.13.82.82.21.72.42.52.32.52.52.5
North Macedonia3.42.3-0.52.93.63.92.80.22.73.02.4
Eswatini3.82.24.76.41.90.43.21.90.2-0.42.4
Jordan2.32.62.72.83.12.42.02.12.02.22.4
Comoros2.12.23.03.52.01.02.22.72.82.82.4
Angola4.93.58.55.04.80.9-2.6-0.2-1.70.42.4
Czech Republic2.31.8-0.8-0.52.75.32.54.42.92.92.3
Bulgaria1.31.90.00.51.83.53.93.83.23.32.3
St. Kitts and Nevis-1.51.8-0.75.56.12.12.31.23.03.52.3
Vanuatu1.61.21.82.02.30.23.54.43.23.02.3
Somalian/an/a1.2-0.80.43.84.92.33.13.52.3
Belize3.42.22.90.93.73.4-0.61.43.02.52.3
Tonga3.21.8-1.1-0.62.93.5-0.61.43.02.52.3
United States2.61.62.21.82.52.91.62.22.92.32.3
Palau0.35.54.8-1.73.010.40.5-3.70.42.02.2
Canada3.13.11.82.32.90.71.13.01.81.52.1
Tunisia3.5-1.94.02.93.01.21.12.02.52.72.1
Antigua and Barbuda-7.2-2.13.5-0.14.74.04.83.65.34.02.1
Lebanon8.00.92.72.61.90.41.60.60.31.32.0
Bosnia and Herzegovina0.80.9-0.72.41.23.13.23.03.13.12.0
Kuwait-2.49.66.61.20.50.62.9-3.51.72.52.0
Burundi5.14.04.45.94.5-4.0-1.00.00.10.42.0
Germany3.93.70.70.62.21.52.22.51.50.81.9
Marshall Islands1.13.22.8-0.7-0.61.84.52.62.42.31.9
Russia4.55.13.71.80.7-2.50.31.62.31.61.9
Slovendia1.20.6-2.7-1.13.02.33.14.94.53.41.9
Samoa-2.05.60.4-1.91.21.77.22.70.73.31.9
Belarus7.85.61.71.01.7-3.8-2.52.53.01.81.9
Serbia0.72.0-0.72.9-1.61.83.32.04.43.51.8
United Kingdom1.71.61.42.02.92.31.81.81.43.51.8
Switzerland2.91.81.01.92.51.31.61.72.51.11.8
South Africa3.03.32.22.51.81.20.41.40.81.21.8
Azerbaijan4.8-1.62.25.82.81.1-3.10.11.43.41.7
Haiti-5.55.52.94.22.81.21.51.21.51.51.7
Austria1.82.90.70.00.71.12.02.62.72.01.7
Norway0.71.02.71.02.02.01.22.01.42.01.6
Denmark1.91.30.20.91.62.32.42.31.21.71.6
Argentina10.16.0-1.02.4-2.52.7-2.12.7-2.5-1.21.5
Netherlands1.31.6-1.0-0.11.42.02.22.92.51.81.5
Brazil7.54.01.93.00.5-3.5-3.31.11.12.11.4
St. Lucia0.34.1-0.3-2.00.00.33.93.71.03.31.4
Belgium2.71.80.20.21.31.71.51.71.41.31.4
Suriname5.25.82.72.90.3-3.4-5.61.72.02.21.4
Japan4.2-0.11.52.00.41.20.61.90.81.01.3
France1.92.20.30.61.01.11.22.21.51.31.3
Finland3.02.6-1.4-0.8-0.60.12.52.82.41.91.3
Cyprus1.30.4-2.9-5.8-1.32.04.84.53.93.51.0
Spain0.0-1.0-2.9-1.71.43.73.23.02.52.11.0
The Bahamas1.50.63.1-0.4-0.11.0-1.71.42.32.11.0
Croatia-1.5-0.3-2.3-0.5-0.12.43.52.92.72.60.9
Iran5.73.1-7.7-0.33.2-1.612.53.7-3.9-6.00.9
Micronesia2.03.3-2.0-3.9-2.25.00.72.42.11.20.9
St. Vincent and the Grenadines-2.30.21.32.50.20.80.80.72.02.30.9
Aruba-3.33.5-1.44.20.9-0.40.52.31.20.70.8
Jamaica-1.41.4-0.50.20.60.91.50.71.41.70.6
Portugal1.9-1.8-4.0-1.10.91.81.92.82.11.70.6
Brunei Darussalam2.73.70.9-2.1-2.5-0.4-2.51.3-0.24.80.6
Ukraine4.15.50.20.0-6.6-9.82.42.53.32.70.4
Italy1.70.6-2.8-1.70.10.91.11.60.90.10.2
Barbados-2.2-0.8-0.1-1.4-0.22.22.3-0.2-0.5-0.1-0.1
Central African Republic3.03.34.1-36.71.04.84.54.34.35.0-0.2
Trinidad and Tobago3.5-0.2-0.72.3-1.31.9-6.5-2.00.30.0-0.3
Dominica0.7-0.2-1.10.84.2-3.72.6-5.4-12.08.0-0.6
Sudan3.9-2.8-17.02.04.71.92.91.7-2.1-2.3-0.7
Puerto Rico-0.4-0.40.0-0.3-1.2-1.0-1.3-2.4-2.3-1.1-1.0
San Marino-5.4-8.3-7.0-0.8-0.72.52.50.61.10.8-1.5
Greece-5.5-9.1-7.3-3.20.7-0.4-0.21.52.12.4-1.9
Equatorial Guinea-8.96.58.3-4.10.4-9.1-8.8-4.7-5.7-4.0-3.0
Yemen7.7-12.72.44.8-0.2-16.7-13.6-5.9-2.72.1-3.5
South Sudann/an/a-52.429.32.9-0.2-16.7-5.5-1.28.8-4.4
Venezuela-1.54.25.61.3-3.9-6.2-17.0-15.7-18.0-25.0-7.6

Source: International Monetary Fund, World Economic Outlook April 2019.

About the Author

Sande Kennedy is the founder and Editor in Chief of SandeKennedy.com & Kenyans247.com He is a Kenyan-based Internetprenuer,blogger Political Activist & informer who has an interest in politics, governance, corporate-fraud and human-interest. Kindly drop me a note if you feel aggrieved on any matter that you would want to be highlighted  WhatsApp: +254791890826 Read More about me here