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What Are The Top 10 Emerging Economies In The World?

Emerging markets are some of the most sought after, given the vast opportunities they continue to offer on the investment front. Such markets are made up of countries whose economies are growing at an impressive rate and believed to be transitioning from developing to developed status.

The transition is measured by taking into consideration economic growth as well as social-economic factors. The level of market efficiency, local debt, and equity markets are some of the factors taken into consideration in ranking the top ten emerging economies in the world.

#10 Malaysia

Malaysia comes in at tenth having experienced an average yearly economic growth of 5.4% since 2010. The country makes it into the list having emerged as a powerhouse when it comes exportation of agricultural products such as palm oil and cocoa. Likewise, the country’s economy continues to benefit from commodity exports having emerged as a major natural gas exporter in Asia.

#9 South Africa

South Africa being the biggest economy in the African continent continues to provide vast investment opportunities as one of the fastest-growing economies in the world. Backed by a GDP of over $300 billion the country continues to experience annual GDP growth of 2.3%.

South Africa makes it into the list on being one of the biggest diamond and gold mining countries in the world. The natural resources dependent economy benefits a great deal when commodity prices rise.

#8 Poland

Since its admittance into the European Union, Poland has emerged as one of the fastest-growing economies in the world. An average annual GDP growth of 2.5% affirms the country’s prospects when it comes to economic growth at a time when most European economies are struggling with growth. Poland continues to benefit from strong access to the European banking sector.

#7 Chile

Chile makes it into the list having emerged as one of the success stories in Latin America ahead of Brazil and Argentina. The country prospects have continued to improve on rising to become a mining heavyweight especially in the lithium front, expected to power the next generation of electric cars. It is predicted the country’s economy will grow at an average of 2.6%

#6 Thailand

Thailand continues to affirm Asia’s dominance of the emerging market landscape. Dubbed as the land of smiles, the country has continued to enjoy economic boom with an annual GDP growth rate of about 2.9%. In recent years, the country has transitioned from a low-income country to an upper-income country. The transition has come about on the country being a top tourist destination backed by a robust financial sector.

#5 Turkey

Turkey is slowly becoming an economic powerhouse in the world thanks to significant economic and social improvements. Located at the crossroads of Asia and Europe the country continues to benefit from a robust financial market rooted in foreign currencies. However, the country has paid a hefty price in recent years given its dependence on foreign currencies.

#4 Indonesia

Being the largest economy in South East Asia affirms Indonesia’s credentials as one of the biggest emerging markets in the world. The country has risen to dominance due to reliance on foreign money. In 2017, ownership of government bonds by foreign investors stood at 40%. The country also continues to benefit from being one of the biggest exporters of palm oil and natural gas.

#3 Mexico

Mexico is home to one of the fastest-growing economies in the world on being the second-largest economy in Latin America. A GDP of more than $1 trillion stems from the country’s exports to the U.S. Remittances from the U.S has also helped strengthen the economy. The economy is expected to continue growing by an average of 2.5% going forward.

#2 China

It would come as a surprise that China is one of the emerging markets in the world despite being the second-largest economy, in the world, after the U.S. For over 25 years, the country has remained an emerging market. After experiencing slow growth over the last decade, things are slowly looking up. The economy is expected to grow by an average of 6% thanks to the growing demand for the country’s products.

#1 India

India is arguably the fastest-growing emerging market in the world thanks to the implementation of policies that have helped boost the country’s market competition and standard of living. The economy is expected to grow by an average of 6% as foreign investors continue to flock the country.

Ruchi Gupta

Ruchi Gupta covers various beats from finance to technology and from lifestyle to hobbies. She has an MBA in Finance. Ruchi enjoys writing on celebrities and political news. She likes traveling and exploring places.

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