It’s no surprise that U.S. GDP is forecast at one of the lowest GDP growth rates worldwide for 2012, at a mere 1.3%, if the figures can be trusted. U.S. GDP growth will be lower than Canada (only projected at 2% growth), Mexico, Iraq, Kenya, Lebanon, Israel and Angola.
So which countries are projected to see the most GDP growth?
Top 20 Global GDP Growth Rates for 2012
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1. Macau – 15.0% GDP growth
2. Mongolia – 14.8% GDP growth
3. Libya – 13.6% GDP growth
4. Iraq – 10.9% GDP growth
5. Angola – 9.9% GDP growth
6. Niger – 8.5% GDP growth
7. China – 8.2% GDP growth
8. Ethiopia, Rwanda – 8.0% GDP growth
9. Laos – 7.9% GDP growth
10. India – 7.8% GDP growth
11. Afghanistan – 7.2% GDP growth
12. Uzbekistan – 7.0% GDP growth
13. Nigeria – 6.6% GDP growth
14. Vietnam, Sri Lanka, Indonesia, Bangladesh – 6.3% GDP growth
15. Kazakhstan – 6.2% GDP growth
16. Kenya – 5.9% GDP growth
17. Saudi Arabia – 5.3% GDP growth
18. Peru – 5.0% GDP growth
19. Colombia – 4.8% GDP growth
20. Chile – 4.7% GDP growth
Clearly, Latin America is still growing strong, and Central Asia and Africa are rapidly becoming the next emerging markets frontiers. On top of that, world oil needs are clearly keeping Libya, Iraq, Nigeria and Saudi Arabia in the top 20.
It might be a bit disheartening, however, to note that Macau’s growth, of course, comes from casino gambling. Meanwhile, Mongolia is #2 because of its rich mineral deposits, supporting a growing mining industry serving the insatiable appetites of China, to start. All the parts for your green cars and smartphones? They rely on the rare earths deposits in Mongolia.
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