2012 is the Year of the Dragon and yes, it’s the year of sustainability. With the mammoth most prediction of the world ending this year, people are hoping to see some positives too. Broadly, a few of the nations worldwide are expected to go through a downfall whereas are few are looking forward to a prosperous economy. Here are top 10 fastest growing economies in 2012
With a GDP forecast in 2012 of $128.094 billion and an overall GDP growth of 10.568% Iraq is predicted to be in the list of the fastest booming economies,
As he announced the national budget, Aiuba cuereneia, the minister of planning and development, said ‘ We expect a significant increase of 27.5% to come from the mining sector, while the manufacturing industry will grow by 3.6%’. Coal exports are predicted to rise by 22% to approximately $2.3 billion, as the budget forecasts. The GDP forecast in 2012 is $12.9 billion. And the overall GDP growth would be 7.5 per cent.
Situated in the not-so-economically well off Africa, Angola is also anticipated to be an emergent economy in the year proceeding. The GDP is forecast of $1.32 billion and GDP growth of 10.49%. Angola is dependent upon oil for over 90% for its export income and so the increasing output volume is set to hype up the economy by 12.8% this year.
Although it has been amongst the poorest countries in Africa, it is expected to grow economically in the following year. Having a GDP forecast of $32.3 billion and the GDP growth of 8.02% it is there in the list.
It has experienced a rapid economic growth over the last few years due to higher oil prices. Oil and gas have made Qatar one of the highest per capita income countries. Its natural gas reserves are around 26 trillion cubic meters which makes up about 14% of the total worlds natural gas and the third largest in the world.
Timor Leste has a GDP forecast in 2012 of $0.807 billion and the GDP growth to be 8.63 %. This makes it to be the fastest growing economies in 2012 as well.
$9.21 billion being the GDP forecast in the year 2012 and a GDP growth of 8.8%, Haiti is anticipated to be one of the fastest growing economies of the world for the upcoming year.
‘India has an advantage of size. The scope of growth and excess capacity present in terms of resources would drive growth in the future’ said Madan Sabnavis, chief economist at care. The GDP of India is forecasted to increase a 7.82% from 2011, at $1.858 trillion. India too is looking ahead to an upbeat year in 2012.
2. Sri Lanka:
According to Gareth Leather, Asia economist at capital economist, it is expected that Sri Lankan economy would grow to an 8% in 2012, making it the fastest growing economy in emerging Asia after China.
Regarding the growth forecasts, china’s GDP is predicted to reach to $7.209 trillion and a growth rate of 9.52%. China’s economy will carry on to grow robustly and would remain the fastest growing economy.