Hottest Growing Economies in the World

By siliconindia | Thursday, 26 July 2012, 10:56 Hrs

#8: Uganda

Total Est. Growth: 14.8 percent

Est. 2012 GDP: +4.0 percent

Est. 2013 GDP: +7.0 percent

Est. 2014 GDP: +7.3 percent

Economic Status: It is again the agricultural sector -- especially the coffee crop – that accounts for the majority of the exports in Uganda. Oil exports are also lined up to become another big player in Ugandan economy.

#7: Ethiopia

Total Est. Growth: 15.2 percent

Est. 2012 GDP: +7.7 percent

Est. 2013 GDP: +7.2 percent

Est. 2014 GDP: +7.8 percent

Economic Status: Ethiopia, like many other poor African states, has an economy largely depending on agriculture. The growth in the agricultural sector alone has contributed for the country’s financial assets. The agricultural sector comprises 41 percent of GDP for the country. The major reason behind this expected growth might be that the government has been encouraging the sector for years by attracting substantial foreign investment into it and manufacturing related sectors in recent years.