Mongolia tops economic growth leading nations

The Economist Intelligence Unit (EIU) international organization at the Economist Group has released projections for economic growth in 2014, including the economies that are expected to grow the most this year. Mongolia led the list of countries with 15.3 per cent by the index of growing of Gross Domestic Product (GDP). Top-ranked Mongolia has by some measures has been the world's fastest-growing economy since 2012, fueled almost entirely by the mining sector’s boost, the EIU emphasized. Mongolia is followed by Sierra Leone with 11.2%, Turkmenistan (9.2%), Bhutan (8.8%), Libya and (8.8%). Besides the index of economic growth of nations, the EIU underlined that the economies of special administration regions seem to have high economic growth in this year. For instance, the Macau’s GDP is expected to increase by 13.5% by end of 2014. If Macau is an independent nation, it would be ranked at 2nd place in the list, the EIU said. There are three important trends here. The first is that all of these countries, with the exception of Libya, are very poor. The second is that in most of them, economic growth is being driven by natural resources; often a single natural resource. The third, and maybe most important, is that many of the booms come from the sale of those natural resources to developing countries, often to a single developing country.