The fastest growing economies 2012 is seeing are surprisingly not the ones you would expect to show up in the list. This time United States and several nations in Europe are going through challenging economic times. But some countries have soaring economies. Not all of them are rich though.
Niger
Niger depends on other countries for economic aid. One of the poorest nations on the world suffers from droughts. Despite economic hostility, the population grows steeply. However, you will be surprised to learn that recent prognosis speak of a seemingly strong future, as Niger has expanded its resource base of gold, coal, and oil. The GDP forecast for 2012 is $7.38 billion. Niger sees a GDP growth of 15.4%.
Iraq
Economists say that Iraq is doing well. Its economy shows rapid recovery in spite of the political and social instability. The country expects a GDP growth of 10.5% in 2012. This growth comes from increased export of oil and high energy prices. The GDP forecast for 2012 is $128 billion.
Angola
Angola’s GDP growth is 10.496% and its GDP forecast for 2012 is $1.32 billion. The government aims to restructure the industrial sector. With funding from the IMF and World Bank, Angola may be able to pull off economic reforms, improve infrastructure, and enhance commerce. The country is known for its petroleum and diamonds, which make up 90% of its GDP and export.
Liberia
Unlike the previous two African countries mentioned, Liberia is well-off. Its strong relations with the United States stimulated close trade. Economic climate changed in the 1980s, but things started to do better in 2006. In 2012, the GDP growth is 10.496%.
China
It’s not surprising to see China in this list. China’s economic liberalization and modernization led to development. China’s rise in the economic rank inspired awe among other developing and some developed nations. Today, China becomes one of the top and important trading partners of other rich nations. While the GDP growth is 9.52%, the expected GDP for 2012 is $7,209.42 billion.
Haiti
The Haiti Hemispheric Opportunity was signed in 2006 with the aim of ameliorating export and investment. This was supposed to be a good partnership with the USA, but a series of tropical storms in 2008 caused an economic setback. Then, the 2010 earthquake worsened the economic conditions. Nonetheless, these natural calamities did not stop Haiti from seeing economic boon. Expected GDP for 2012 is a little over 9 billion dollars and the GDP growth is 8.8%.
East Timor
Timor-Leste boasts one of the highest economic growth rates in 2012 in spite of the challenges in infrastructure civil government, and employment. What augments government revenue is the development of hydrocarbon resources, but even this development does little to solve unemployment. Nonetheless, the 2012 GDP growth is 8.63%.
Ethiopia
The economy of this country is under the control of its government-the only African government that doesn’t approve of privatization. Ethiopia is blessed with fertile soil. The 2012 GDP prognosis is 32.3 billion dollars. GDP growth has been noted at 8.02%.
India
The second most populous country in the world has one of the fastest growing economies in 2012. Apparently, the large pool of talent is one of India’s strengths. Moreover, the opportunities for economic growth in the coming years seem to be everywhere. The GDP forecast of $1.858.9 billion is awesome.
Mozambique
Mozambique’s economy started to take a leap forward shortly before the 90s. Macroeconomic reforms today have had a positive influence on the economy. The GDP forecast for 2012 is $12.9 billion.