top 10 countries with highest gdp growth rate in 2018

This article includes a list of countries and dependent territories sorted by their real gross domestic product growth rate.

The rate of growth of the value of all final goods and services produced within a state in a given year.

The statistics were compiled from the WEF world economic forum with the vast majority of estimates corresponding to the 2018 calendar year. Values from other sources are referenced as such.

 

RANK COUNTRY REAL GDP GROWTHRATE (%)
1  Libya
9.938
2  Ethiopia 8.464
3  China 8
4  Vietnam 7.632
5 Bangladesh Bangladesh 7.499
6  Malaysia 7.234
7  India 7.2
8  Iraq 7.146
9 DjiboutiDjibouti 7
10  Cambodia 6.947

Read More : Rank of the countries by GDP growth rate in 2018 

What does GDP stand for – Real gross domestic product (real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e. inflation or deflation).[1] This adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output. Although GDP is total output, it is primarily useful because it closely approximates the total spending: the sum of consumer spending, investment made by industry, excess of exports over imports, and government spending. Due to inflation, GDP increases and does not actually reflect the true growth in an economy. That is why the GDP must be divided by the inflation rate (raised to the power of units of time in which the rate is measured) to get the growth of the real GDP. Different organizations use different types of ‘Real GDP’ measures, for example the United Nations UNCTAD uses 2005 Constant prices and exchange rates while the FRED uses 2009 constant prices and exchange rates, and recently the World Bank switched from 2005 to 2010 constant prices and exchange rates.

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