Research - MARCH 2, 2015

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Asia has world’s fastest growing economies

by Jennifer Molloy

Four of the top five fastest growing economies for 2015 are in Asia, with China topping the list with projected growth of 7.0 percent, according to a recent Bloomberg global survey of economists. The Philippines ranks second with 6.3 percent, followed by Kenya (6.0 percent), India (5.5 percent) and Indonesia (5.3 percent).

These five countries, at well above the survey’s 3.2 percent world median growth rate, make up about 16 of global GDP. Excluding China, the major economies of the United States, United Kingdom, euro zone and Japan all fall below this median growth figure.

Rounding out the top 10 list for anticipated economic growth this year are Nigeria (4.9 percent), Malaysia (4.8 percent), Peru (4.3 percent), the United Arab Emirates (3.9 percent) and Thailand (3.7 percent).


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