24 Fastest Growing Economies in the World in 2024

3. Ethiopia

Average GDP Growth: 7%

Ethiopia is another poor and underdeveloped nation. It has a GDP of $205 billion, and a GDP per capita of $1,910. Throughout the 20th century, Ethiopia has been plagued by war and conflict which have hampered its economic growth. The 21st century saw Ethiopia turn a leaf and post 10%+ economic growth rates in the early 2000s. However, these have also led to high inflation and balance of payments complications.