Our world is changing very swiftly but silently. What we have on top of list today will not last there for many years. The change is being taking place both on business world as well as on political fronts. Europe is become EU, china is getting stronger and stronger followed by India. In the other end USA has seen a decline in its international rating. Wow!!! how swiftly economical scene is changing itself. According to leading economists in the world, there are approximately 28 emerging economies in the world. Economies in Brazil, China and India are regarded as the largest in the world today. Below are the top ten emerging economies in the world.1. China ( Peoples Republic)
China is currently the fastest and largest economy in the world. Since the year 1978 after the liberalization of China, the economy has managed to grow in leaps and bound and is Currently it does not have a high the per capita income, China stands at a mere $3,700 which is 100th in the world. China has the second highest nominal GDP in the world which stands at 34.06 trillion Yuan or $4.99 trillion. According to Global Wealth Report, it is estimated that by the year 2015, China will have overtaken Japan as the second largest economy in the world.
Currently India stands at 11th economy in the world. India’s estimated GDP stands at US$ 1.3 trillion. The Per-capital income of India stands at US$ 1000. After PPP is considered India’s economy is considered as 4th in the world. India has the second largest labor force in the world approximately 466 million people. The service and industrial segments of the economy managed to account for approximately 54% and 18% correspondingly .The agricultural sector injected 28% of India’s GDP. The main industries in India include software, petroleum, textile and cement, steel and mining. The major cash crop products include cotton, rice, potatoes, tea, oilseed, wheat and sugar cane.
Currently Russia’s economy stands at number 12 in the world. Russia has blessed with huge resources of natural mineral such as oil and natural gas. Since 2008 Russia’s economic growth stood at 7% per annual. Russia’s economic growth has been mainly boosted by political stability, non-trade services and increased local consumption. The main exports of Russia are Oil and natural gas. The average Russian get is $1000 per month approx. This is a significant increase given that the average salary once was below $500.
Currently Brazil’s economy is considered as the 8th largest in the world. It is considered as one of the fastest growing nations in the world. Brazil’s economy is mainly determined by the relatively free market as well as inward-oriented economy. Brazil has the largest economy in Latin America. The GDP growth rate is 5% approx per annum.
Currently stands at 17th position in the world. Turkey is a member of the G-20 major economies. During 1983 Turkey has taken big decision on reforms towards its economy. Those Initiatives on reforms are paying back, other major initiative of keeping close ties with other emerging countries have greatly contributed to Turkey’s economy.
Presently, it is not only an emerging economy in the world but also one of the largest. Mexico’s economy is the 11th highest in the world today. Its GDP stands as 7.6% per annum. Mexico’s economy comprises of industrial and service sectors. There has also been an increase in private ownership.
Presently the biggest economy in the Southeast Asia,. Indonesia’s economy is mainly propelled by the government and is a sitting member of the G-20 major economies. Indonesia’s GDP stands at US$539.7 billion. The economy is mainly being determined by the industry and agricultural sector contributes approximately 40.7% and 13% respectively. Service sector injects major portion of 45.3%.
Poland has one of the fastest growing economies and the 6th biggest economy in the EU. Unlike other economies in the world, Poland economy is a high revenue economy. The annual growth rate is roughly 6%. Of all the EU nations, Poland is the only one that did not record a drop in its GDP.
9. United Arab Emirates
United Arab Emirates is a fast changing nations with a high developing economy. This has been derived from the numerous socioeconomic indicators, for example, GDP per capita, HDI and energy consumption per capita.
Thailand’s is also considered as an emerging economy in Asia. It heavily depends on its exports. Its exports is 2/3 of the country’s GDP]]>