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GDP growth: The best and worst performing nations

Last updated on: April 4, 2012 14:14 IST

Image: A Nigerian man looks at a vehicle by German carmaker Porsche in Lagos.
Photographs: Monica Mark/Reuters.

While emerging economies present the best chances for economic growth, not all countries will prosper at the same rate.

Indeed, the International Monetary Fund (IMF) recently warned of the possibility of a "hard landing" for some emerging economies if the effects of buoyant credit and asset price growth, which have fuelled consumer demand in recent years, unwind.

The IMF predicts emerging economies will expand by 5.4 per cent this year and 5.9 per cent next year.

While this certainly marks a significant downgrade from previous forecasts, it still outpaces the average GDP growth of 1.2 per cent and 1.9 per cent expected this year and next in advanced economies.

Citi forecasts that the North American and Western European share of world real GDP will fall from 41% in 2010 to just 18% in 2050. Developing Asia's share is expected to rise from 27% to 49% in 2050.

China will overtake the US to become the world's largest economy by 2020, which in turn will be overtaken by India in 2050.

Here's a list of the top 10 and bottom 10 countries in terms of economic growth from GDP from 2010 -2050, according to the Wealth Report by Knight Frankand Citi Private Bank.

1. Nigeria

GDP: 8.5%

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International Monetary Fund GDP Knight Frankand Citi Private Bank OIMF