Fastest growing economies

Ghana
Many economists believe that Africa is the next boomtown. Several African nations
are now growing at a rapid pace. None more so than Ghana. For quite a long time,
Ghana received many an unflattering adjectives to describe its economy: 'worst
managed', 'disastrous', etc. However, the small African nation has since then come
a long way and is the world's fastest growing economy today. Ghana's economy is
growing at a blistering 20.15 per cent. Ghana is oil-rich, has large gold and diamond
deposits and has a booming tourism industry

Qatar
With a GDP growth rate of 12.337 per cent, Qatar is the world's second fastest
growing economy. The economy of Qatar, one of the world's largest exporters of
petroleum, is primarily oil-based. High oil and gas prices have boosted the economy
of this Gulf state over the last few years. The per capita income of Qataris is
$66,100, the sixth highest in the world. The nation's economy mainly depends on its
huge oil and natural gas reserves. There is no income tax in Qatar. Qatar is an oil-
and gas-rich nation with world's third largest gas reserves

Turkmenistan
Turkmenistan is blessed with the world's fourth-largest reserves of natural gas. It is
the world's third fastest growing nation with a GDP growth rate of 12.18 per cent. It
is a $41-billion economy. Although oil and gas is the biggest revenue generator for
Turkmenistan, agriculture too accounts for a healthy percentage of its GDP. Citizens
in Turkmenistan get 120 litres of petrol free every month for car drivers, while
truck/bus drivers get 200 litres of petrol free. Apart from this, electricity too is
subsidised for the citizens.

China
China is the world's fourth fastest growing economy at 9.908% GDP growth rate,
and in monetary terms it is of the order of a whopping $6 trillion. However, the
rising inflation rates in China are posing a new challenge to the country. China's
gross domestic product grew 9.6 per cent in the third quarter as compared to the
same period last year. The growth rate slowed down from 11.9 per cent in the first
quarter and 10.3 per cent in the second quarter.

Liberia
Even though Liberia remains one of the poorest countries on earth, it has shown
robust economic activity in the last few years. This African nation is the world's fifth
fastest growing economy with a GDP growth rate of 9.003 per cent. It is a $1.05
billion economy. The nation has rich reserves of iron ore, and also exports rubber
exports. In the last few years, it has been receiving a lot of foreign direct
investment which has resulted in higher employment, better infrastructure and
increased economic activity.