The fastest shrinking and growing economies in 2016

WORLD GDP is forecast to grow by 2.7% in 2016, according to the Economist Intelligence Unit (in 2015 the economy is estimated to have expanded by 2.4%). This moderate outlook reflects the fact growth is still lacklustre in the euro area, Japan and emerging market economies as a whole.

There are a few bright spots however. Although GDP growth in Turkmenistan is slowing, the construction of a new branch of the Central Asia-China gas pipeline should help to support exports. A scattering of emerging Asian countries make a notable appearance in the top-ten: growth in the region is buoyed by rising private consumption, and in particular a revitalised tourism sector in Laos.

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