Botswana has been ranked among the five fastest growing economies in the world in the past 50 years.
International economic and trading group, Insider Monkey, this week released a report on the 25 fastest growing economies in the world in the past 50 years, and Botswana was ranked 5th after Equatorial Guinea, China, Maldives and Iraq. Botswana also has the third biggest GDP among the top 5 fastest growing economies in the past 50 years.
The report states: “Botswana has a GDP of $55.24 billion, as of 2024. Botswana’s real GDP has grown at an average rate of 7.10% between 1972 and 2022. Botswana ranks fifth among the fastest growing economies in the last 50 years.”
Topping the least is Equatorial Guinea which has a GDP of $27.41 billion.
“Equatorial Guinea’s real GDP has grown at an average rate of 13.13% between 1972 and 2022. Equatorial Guinea ranks first among the fastest growing economies in the last 50 years.”
Second after Equatorial Guinea is China which has the biggest GDP in the top five countries. “China is one of the largest economies in the world. China has a GDP of $35.04 trillion and an average real GDP growth rate of 8.60% between 1972 and 2022.”
The third fastest growing economy was Maldives which has
a GDP of $15.83 billion, as of 2024. Maldives’s economy has grown at an average rate of 7.14% in the last 50 years, from 1972 to 2022.
Iraq came fourth. Iraq has a GDP of $535.81 billion, as of 2024. Iraq has grown at an average rate of 7.28% between 1972 and 2022.
To compile the list of the 25 fastest growing economies in the last 50 years, Insider Monkey gathered countries’ real GDP growth rates from 1972 to 2022 from the World Bank database. Real GDP growth rates of countries over the last 50 years were averaged and then sorted in ascending order to rank the top 25 fastest growing economies with the highest growth in the last 50 years. “We have excluded countries whose data was not available for at least 40 years. There was an exception for some countries, such as Qatar and Vietnam, whose data was available for less than 40 years on the World Bank database. In that case, we consulted the IMF database for such countries. We have included economies such as Qatar and Vietnam because they are some of the biggest economies in the world and are growing at a rapid rate. We cross-checked the World Bank database with the IMF database to make sure we did not miss any countries. We have also mentioned the GDP (PPP) of countries, as of 2024. The data for GDP (PPP) is taken from the IMF database.”
Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a consensus approach, the company identifies the best stock picks of more than 900 hedge funds investing in US stocks.
