A lot of nations aim to be part of the countries with highest economic growth rates in 2015 simply because it means that the nation is starting to improve and is starting to get better. As the economic growth of countries improves, can this mean that the world leaders in today’s market can change in the years to come? It should be remembered though that this is not a list of the countries with the highest standard of living. Rather, this has a list of the countries that have greatly improved for this year.
There are some countries that are achieving economic growth because of the very poor conditions that they were living in years before and it is now, this year, that the countries have started showing some progress. Sometimes, countries that still have small farms and have little infrastructure can show big signs of progress as they start to adapt to the rest of the world.
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Countries with highest economic growth rate may have the whole future ahead of them with their citizens’ standard of living getting better than before. The welfare of each citizen may be taken into consideration as well as the economy becomes better and improves. A lot of the countries that will be placed on this list are expected to expand more in the years to come. Here are the countries with highest economic growth rates in 2015.
7. Ethiopia – 7.96% Growth Rate
One of the things that have helped Ethiopia a lot is its exportation of coffee. Its growth rate has been rising steadily over the past years. Its main problem is its GDP per capita since a lot of the lands in Ethiopia are still owned by the government and this result to a lower rate.
6. Laos – 8.08% Growth Rate
Farming is one of the things that can contribute to the high growth rate of Laos. The country has also managed to make some investments and time will tell if these investments will work well in the long run. Aside from this fact, it is helpful that its debt is not as high as other nearby countries.
5. Ghana – 8.15% Growth Rate
There are a lot of things that can contribute to the current GDP of Ghana. It is able to export gold, oil and cocoa to the rest of the world but one of the things that can contribute to its further growth is the services that it can provide. The main problem of this country is its big debt and this might still cause some problems in the years to come.
4. China – 8.77% Growth Rate
Aside from being well known as the world’s largest exporter, it seems that the growth of China is never wavering. In the past, China used to be a country with no clear future but once it became clear about its goals, it will not stop until it gets there. There are some factors that may make the process of its growth slower such as the fact that their people are aging yet it has appeared in lists of countries with highest economic growth rates in 2015 consistently.
3. Sierra Leone – 9.54% Growth Rate
Probably the main reason why Sierra Leone has increased steadily over the past years is because more than half of the population works on one of the things that Sierra Leone can use for economic growth which is farming. There are a lot of things that can be exported from Sierra Leone, like diamonds.
2. Iraq – 12.23% Growth Rate
Even though Iraq is known to be one of the places that are plagued by war, it still manages to grow because of its export of oil to various countries. Although the country is still a long way from being truly stable, the solution to their current problems are not as bleak as others.
1. Mongolia – 13.60% Growth Rate
It seems that Mongolia has already changed tremendously since the days that it used to be plagued with war to the economy that it has at present time. It is now considered to have a mixed capitalist economy. It mostly gets its money from its various mineral deposits.
There are a lot of things that may be expected from countries highest economic growth rates in 2015 although one thing is for certain, some of these countries would still need help from other more developed countries in order to have a big improvement not only with their way of living but also with their normal way of life.
