World Ranking · Data for Every Country
Fastest Growing Economies in the World
Which economies grew fastest in 2024?
Guyana recorded the fastest real GDP growth in 2024 at 43.69%, followed by Georgia at 9.55%, according to a table of 60 economies with GDP above $20 billion. Guyana's growth rate is 9.9 times the median of 4.41% across the group. The top 15 includes a mix of small and large economies: Macao SAR, China (8.33%), Benin (7.45%), Viet Nam (7.09%), Malta (6.8%), Uzbekistan (6.52%), India (6.49%), and the Democratic Republic of the Congo (6.29%). At the other end, Uruguay (3.11%), Puerto Rico (3.2%), Peru (3.3%), Türkiye (3.33%), and Gabon (3.37%) occupy ranks 56 to 60. The full table below lists all 60 countries with real GDP growth, nominal GDP, and GDP per capita for reference year 2024.
What is GDP growth rate?
The GDP growth rate is the annual percentage change in real GDP, that is, output after removing the effect of price changes.
How it is measured. Measured as the annual percentage growth of GDP at market prices based on constant local currency. Because it is calculated in constant prices and local currency, it is not affected by inflation or exchange rates.
How to read it. Positive values mean the economy expanded in that year, negative values mean it contracted. Small or recovering economies often post high rates from a low base, so growth is best read next to the level of GDP.
Source: World Bank WDI. See our methodology.
Fastest Growing Economies in the World, 2024
| # | Country | GDP Growth | GDP | GDP per Capita |
|---|---|---|---|---|
| 1 | Guyana | 43.69% | $24.7B | $30,319 |
| 2 | Georgia | 9.55% | $34.0B | $9,192 |
| 3 | Macao | 8.33% | $49.8B | $72,456 |
| 4 | Benin | 7.45% | $21.5B | $1,484 |
| 5 | Vietnam | 7.09% | $467.9B | $4,627 |
| 6 | Malta | 6.80% | $25.0B | $44,533 |
| 7 | Uzbekistan | 6.52% | $115.0B | $3,138 |
| 8 | India | 6.49% | $3.91T | $2,695 |
| 9 | Congo, Democratic Republic of | 6.29% | $72.7B | $686 |
| 10 | Senegal | 6.23% | $32.8B | $1,766 |
| 11 | Uganda | 6.17% | $55.1B | $1,142 |
| 12 | Côte d'Ivoire | 6.01% | $87.1B | $2,726 |
| 13 | Cambodia | 6.00% | $46.2B | $2,655 |
| 14 | Armenia | 5.88% | $26.0B | $8,443 |
| 15 | Guinea | 5.71% | $24.6B | $1,633 |
| 16 | Philippines | 5.69% | $461.6B | $4,032 |
| 17 | Ghana | 5.64% | $82.6B | $2,398 |
| 18 | Tanzania | 5.49% | $79.0B | $1,201 |
| 19 | Mongolia | 5.12% | $23.8B | $6,732 |
| 20 | Malaysia | 5.11% | $422.2B | $12,247 |
| 21 | Indonesia | 5.03% | $1.40T | $4,942 |
| 22 | Sri Lanka | 5.01% | $99.0B | $4,420 |
| 23 | China | 4.99% | $18.75T | $13,309 |
| 24 | Dominican Republic | 4.95% | $124.4B | $11,209 |
| 25 | Kazakhstan | 4.90% | $291.5B | $14,307 |
| 26 | Mali | 4.85% | $24.8B | $1,012 |
| 27 | Burkina Faso | 4.80% | $23.1B | $982 |
| 28 | Kenya | 4.72% | $119.8B | $2,204 |
| 29 | Turkmenistan | 4.66% | $60.0B | $8,633 |
| 30 | Angola | 4.42% | $108.1B | $2,850 |
| 31 | Singapore | 4.39% | $547.4B | $90,674 |
| 32 | Russia | 4.34% | $2.17T | $14,880 |
| 33 | Costa Rica | 4.32% | $95.4B | $18,248 |
| 34 | Paraguay | 4.25% | $44.5B | $6,436 |
| 35 | Bangladesh | 4.22% | $450.3B | $2,606 |
| 36 | Azerbaijan | 4.07% | $74.3B | $7,268 |
| 37 | Nigeria | 4.06% | $252.2B | $1,084 |
| 38 | Albania | 4.05% | $27.1B | $10,663 |
| 39 | Belarus | 4.01% | $76.1B | $8,331 |
| 40 | United Arab Emirates | 3.99% | $552.3B | $50,245 |
| 41 | Zambia | 3.93% | $25.8B | $1,216 |
| 42 | Serbia | 3.91% | $89.6B | $13,612 |
| 43 | Croatia | 3.88% | $92.8B | $24,038 |
| 44 | Morocco | 3.79% | $160.6B | $4,225 |
| 45 | Papua New Guinea | 3.79% | $31.6B | $2,759 |
| 46 | Algeria | 3.70% | $269.2B | $5,763 |
| 47 | Cyprus | 3.69% | $37.0B | $38,738 |
| 48 | Nepal | 3.67% | $42.9B | $1,447 |
| 49 | Iran | 3.66% | $446.0B | $5,000 |
| 50 | Guatemala | 3.65% | $113.2B | $6,150 |
| 51 | Honduras | 3.55% | $37.1B | $3,453 |
| 52 | Cameroon | 3.49% | $53.8B | $1,849 |
| 53 | Denmark | 3.48% | $424.5B | $71,120 |
| 54 | Spain | 3.46% | $1.73T | $35,239 |
| 55 | Brazil | 3.41% | $2.18T | $10,281 |
| 56 | Gabon | 3.37% | $20.9B | $8,744 |
| 57 | Türkiye | 3.33% | $1.36T | $15,888 |
| 58 | Peru | 3.30% | $291.9B | $8,551 |
| 59 | Puerto Rico (US) | 3.20% | $125.9B | $39,478 |
| 60 | Uruguay | 3.11% | $81.0B | $23,546 |
Reference year 2024; 60 countries. Sources: World Bank WDI. Values are current-year figures as published; the European Union aggregate is excluded.
Download the full table as CSV. Cite this page: GDPIndex, “Fastest Growing Economies in the World”, 2024, https://gdpindex.org/world/fastest-growing-economies/.
Top of the ranking: Guyana and Georgia
Top of the ranking: Guyana and Georgia
Guyana records the highest real GDP growth in the 2024 set at 43.69%. That figure is 9.9 times the 60-country median of 4.41% and exceeds second-placed Georgia by 34.14 percentage points. Guyana's nominal GDP stands at USD 24.7 billion, above the USD 20 billion threshold applied to the ranking, with GDP per capita of USD 30,318.75. The growth rate is therefore not a small-base artefact alone: output per head is the second highest among the top fifteen after Macao SAR, China at USD 72,455.85.
Georgia ranks second with real GDP growth of 9.55%, 5.14 percentage points above the median and 2.46 points above third-placed Macao SAR, China at 8.33%. Georgia's nominal GDP is USD 34.0 billion, the third largest among the top five after Viet Nam at USD 467.9 billion and Macao SAR, China at USD 49.8 billion. GDP per capita of USD 9,191.67 is below Macao SAR, China and Guyana but above Viet Nam at USD 4,626.52 and Benin at USD 1,483.62.
The gap between the top two is the widest between any adjacent pair in the top fifteen. Guyana's 43.69% is 34.14 percentage points above Georgia's 9.55%, and Georgia's 9.55% is 1.22 points above Macao SAR, China's 8.33%. Below that, Benin at 7.45% and Viet Nam at 7.09% sit within 0.36 points of each other. The distribution is therefore steep at the summit and comparatively flat from fourth place downwards.
- Guyana: 43.69% growth, USD 24.7 billion GDP, USD 30,318.75 GDP per capita.
- Georgia: 9.55% growth, USD 34.0 billion GDP, USD 9,191.67 GDP per capita.
- Top-two gap: 34.14 percentage points.
- Median across 60 countries: 4.41%.
Both economies exceed the median by wide margins, at 39.28 points for Guyana and 5.14 points for Georgia. The two entries differ in scale: Guyana's GDP of USD 24.7 billion is 27.4% below Georgia's USD 34.0 billion, while its GDP per capita of USD 30,318.75 is 3.3 times Georgia's USD 9,191.67. Growth leadership and income level are thus not aligned across the top two.
Concentration and spread across the 60 economies
Concentration and spread across the 60 economies
Across the 60 economies with GDP above USD 20 billion, real GDP growth in 2024 ranges from 43.69% to 3.11%. The median is 4.41%. The gap between the top and bottom is 40.58 percentage points. Guyana's 43.69% is 9.9 times the median, a ratio no other economy in the set approaches. The distribution is therefore not a smooth spread but a single extreme value sitting above a cluster.
Where the mass of the distribution sits
Below Guyana, the top 15 spans 9.55% for Georgia down to 5.71% for Guinea, a band of 3.84 percentage points. At the lower end, Uruguay records 3.11%, Puerto Rico (US) 3.2%, Peru 3.3%, Türkiye 3.33% and Gabon 3.37%, a band of 0.26 percentage points. The bottom five are separated by less than a third of a percentage point, while the top five range from 43.69% to 7.09%.
Size and growth do not move together
- India: 6.49% growth, USD 3.91 trillion GDP, USD 2,694.74 GDP per capita.
- Viet Nam: 7.09% growth, USD 467.9 billion GDP, USD 4,626.52 GDP per capita.
- Guyana: 43.69% growth, USD 24.7 billion GDP, USD 30,318.75 GDP per capita.
- Malta: 6.8% growth, USD 25.0 billion GDP, USD 44,532.69 GDP per capita.
The largest economy in the top 15, India at USD 3.91 trillion, grows at 6.49%, close to the 4.41% median but far below Guyana. Malta, at USD 25.0 billion, grows at 6.8% with GDP per capita of USD 44,532.69, the highest in the top 15. Guyana combines the fastest growth with GDP per capita of USD 30,318.75.
Income levels within the fastest-growing group
GDP per capita in the top 15 runs from USD 685.64 for the Democratic Republic of the Congo to USD 72,455.85 for Macao SAR, China, a ratio of roughly 106 to 1. Six of the 15 record GDP per capita below USD 2,000: Benin at USD 1,483.62, Uganda at USD 1,142.00, Guinea at USD 1,633.25, Senegal at USD 1,765.89, the Democratic Republic of the Congo at USD 685.64 and Côte d'Ivoire at USD 2,725.55. Growth rates of 5.71% to 7.45% in these economies sit on income bases under USD 2,800 per capita.
Caveats: what the growth measure hides
Caveats: what the growth measure hides
Real GDP growth measures the rate of change in output, not the level of income. Guyana records 43.69% growth on a GDP of USD 24.7 billion, yet its GDP per capita of USD 30,318.75 sits below Macao SAR, China, which grows at 8.33% on a GDP per capita of USD 72,455.85. A high growth rate and a high income level are distinct quantities, and the top15 table orders countries by the former alone.
The dispersion within the top15 is wide. Guyana's 43.69% growth is 9.9 times the 60-country median of 4.41%. By contrast, Benin grows at 7.45% with GDP per capita of USD 1,483.62, while Malta grows at 6.8% with GDP per capita of USD 44,532.69. Benin's growth rate exceeds Malta's by 0.65 percentage points, but Malta's income per head is roughly 30 times Benin's. Growth rankings and income rankings diverge sharply.
Rank sensitivity to the denominator
The brief sets a GDP floor of USD 20 billion, which excludes smaller economies and shapes the composition of the list. Guinea enters at 5.71% growth on a GDP of USD 24.6 billion, while Gabon sits in the bottom5 at 3.37% on a GDP of USD 20.9 billion. Both clear the threshold, but a lower or higher floor would alter which countries qualify. The ranking is therefore conditional on the USD 20 billion cut-off.
Re-ordering by GDP per capita produces a different sequence. Macao SAR, China leads at USD 72,455.85, followed by Malta at USD 44,532.69 and Guyana at USD 30,318.75. India, ranked 8th by growth at 6.49%, records GDP per capita of USD 2,694.74, below Côte d'Ivoire at USD 2,725.55. Nominal GDP re-ordering also shifts positions: India's USD 3.91 trillion dwarfs Guyana's USD 24.7 billion, despite the growth gap.
- Growth rates are annual and do not indicate income levels.
- Rankings depend on the USD 20 billion GDP floor.
- GDP per capita and nominal GDP produce different orderings.
Frequently asked questions
Which country had the fastest real GDP growth in 2024?
Guyana recorded 43.69% real GDP growth in 2024, the highest of any economy with GDP above $20 billion. Its nominal GDP was $24.7 billion, giving GDP per capita of $30,318.75. That growth rate is 9.9 times the 60-country median of 4.41%. The expansion remains tied to offshore oil production, which lifts headline output from a small base. Guyana's growth is therefore an outlier rather than a signal of broad global acceleration.
What was the median GDP growth across the 60 countries listed?
The median real GDP growth across the 60 countries with GDP above $20 billion was 4.41% in 2024. Guyana's 43.69% sits far above that benchmark, at 9.9 times the median. By contrast, the slowest five economies ranged from Uruguay at 3.11% to Gabon at 3.37%. The gap between the top and bottom of the distribution is therefore wide, with most economies clustered in the 3% to 7% band rather than near either extreme.
Which large economies appear in the top 15?
Viet Nam is the largest economy in the top 15 by nominal GDP, at $467.9 billion, with real growth of 7.09% and GDP per capita of $4,626.52. India also appears, with growth of 6.49% and GDP per capita of $2,694.74. Both combine size with above-median expansion, unlike Guyana, whose $24.7 billion economy is far smaller. The remaining top-15 entries are mostly economies below $120 billion in nominal output.
Which economies had the slowest growth among the 60?
The bottom five ranged from Uruguay at 3.11% to Gabon at 3.37%. Uruguay had nominal GDP of $81.0 billion and GDP per capita of $23,546.45. Türkiye recorded 3.33% growth with GDP per capita of $15,887.58, while Peru grew 3.3% with GDP per capita of $8,550.96. All five remain positive, so the sample contains no contraction at the lower end. The spread from 3.11% to 43.69% is therefore driven by the top rather than by outright decline.
Do the fastest-growing economies also have high GDP per capita?
No consistent link appears. Guyana combines 43.69% growth with GDP per capita of $30,318.75, and Macao SAR, China pairs 8.33% growth with $72,455.85. Yet Benin grew 7.45% on GDP per capita of $1,483.62, and the Democratic Republic of the Congo grew 6.29% on $685.64. Among the top 15, GDP per capita spans roughly $686 to $72,456. Fast growth in 2024 is therefore distributed across both high-income and low-income economies.