In 2011, Eritrea will overtake Qatar as the world's fastest-growing economy

  UPDATED: on 17 December 2010



2011: country by country, the well-established annual forecasting guide from the Economist Intelligence Unit, contains a concise assessment of the political and economic prospects for the year ahead for almost 200 countries, together with key economic indicators and a summary of forecast numbers.            

Highlights in the 2011 Edition Include:

– World GDP growth (using market exchange-rate weights) will slow to 2.5%, compared with 3.5% in 2010….

Eritrea will overtake Qatar as the world’s fastest-growing economy, as production begins at the country’s first operational goldmine.

– The world’s worst-performing economies will be concentrated in western Europe, which accounts for 12 of the world’s 20 slowest-growing economies in 2011.

– Euro area interest rates will remain at a record-low 1%, but the European Central Bank could face growing pressure to implement unorthodox policy measures to boost growth.

– Chile will continue to stand out as the most stable and resilient economy in Latin America. Post-earthquake reconstruction will drive growth.

– Eleven out of the 20 fastest-growing economies will be in Sub-Saharan Africa, but growth in the region will continue to be driven by exploitation of natural resources.

– Although still strong, growth in China will be the slowest since 2001. Nonetheless, China will remain the world’s fastest-growing major economy.

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Eritrea Tops GDP Growth Rate List 2011


The Economist Intelligence Unit has published the “2011: country by country” report. According to the report economic growth rates for 2011 will take different directions depending on where you live. If you live in the rich world growth will underperform, if you live in the developing world growth rate predictions look rosy.

The world GDP growth is predicted to slow down from 3.5% in 2010 to 2.5% in 2011, as fiscal stimulus is withdrawn and emerging markets will continue, to a large extent, to shrug off the 2008-09 economic crisis. Eritrea, the former Italian colony, which won independence from Ethiopia in 1993 after a long bloody war, is set to become the world’s top growth leader in 2011.

Eritrea will overtake Qatar as the world’s fastest-growing economy in 2011, as production begins at the country’s first operational mine (Bisha) operated by Nevsun Resources Ltd. (TSX:NSU)(NYSE Amex:NSU).

We have had a fantastic year and we expect our growth to continue as we move from construction to commercial production in 2011,

said Cliff T. Davis, President and Chief Executive Officer, Nevsun Resources in a recent press release.

The world growth league table 2011 in real GDP growth shows Eritrea on the top of the 20 fastest-growing economies followed by Qatar, Ghana, Ethiopia, China, India, Uzbekistan, Laos, Haiti, Papua New Guinea, Angola, Botswana, Liberia, Mozambique, Tanzania, Sao Tome and Principe, Sri Lanka, Vietnam, Rwanda, Malawi.

World rowth League Table, 2011*                                               (Real GDP Growth, %)
20 Fastest-Growing Countries

Eritrea 17.0%      
Qatar 15.8%      
Ghana 14.0%      
Ethiopia 9.0%      
China 8.9%      
India 8.6%      
Uzbekistan 7.9%      
Laos 7.7%      
Haiti 7.5%      
Papua New Guinea 7.4%      
Angola 7.4%      
Botswana 7.4%      
Liberia 7.3%      
Mozambique 7.3%      
Tanzania 7.1%      
São Tome and Príncipe 7.0%      
Sri Lanka 6.9%      
Vietnam 6.9%      
Rwanda 6.8%      
Malawi 6.7%      
* Economist Intelligence Unit forecasts.


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