North America, even though one of the slowest growing continents, has stable growth. Most of the faster growing economies are in the Caribbean.
Country
% Growth
Date of information
World Rank
Continent Rank
10.20%
2004 est.
13
1
7.80%
2007 est.
29
2
7.20%
2007 est.
37
3
6.00%
2007 est.
70
4
6.00%
2007 est.
74
5
South America
South America has a Boom and Bust growth with high followed by recession growth, most notable in Brazil, however growth has been stabilizing and the whole continent is growing.
Country
% Growth
Date of information
World Rank
Continent Rank
8.70%
2007 est.
20
1
8.30%
2007 est.
25
2
7.50%
2007 est.
33
3
7.20%
2007 est.
40
4
6.50%
2007 est.
53
5
Africa
Africa has seen the fastest growing but also the slowest growing/declining. From the oil fields which made Angola the 3rd fastest country in the world, to Zimbabwe the slowest growing and declining country in the world. Oil in Africa has create 'wealth spots' were a few countries have exceeded their neighbors in wealth. Out of the 10 fastest growing countries in the world: 3 were African. Some countries have in the past been the fastest growing in the world. Equatorial Guinea reached 75% growth in 2004 because of oil reserves.
Country
% Growth
Date of information
World Rank
Continent Rank
16.30%
2007 est.
4
1
12.80%
2007 est.
6
2
12.70%
2007 est.
7
3
11.4%
2007 est.
10
4
8.50%
2007 est.
21
5
Europe
Europe has had one of the most stable growth rates in the world. The east especially has seen an increase in GDP after the fall of Communism. If the Caucasus were included, Europe would be one of the fastest growing continents in the worldhttps://www.cia.gov/library/publications/the-world-factbook/rankorder/2003rank.html. Most countries are growing at a medium speed however many smaller countries exceed 7% and grow exceptionally faster than their neighbors. Out of the 10 fastest growing countries in the world, one is in Europe[16].
Overall in the 20th century, Asia was seen as the area with most growth. The trend is expected to continue into the 21st century, with the majority of economic growth in the region being powered by the rapidly expanding economies of China and India, coupled with significant growth occurring in certain parts of South, South-East and especially East Asia. The only exceptional growth in Oceania has been on Vanuatu. Out of the 10 fastest growing countries in the world, half of that number are located in Asia[17].
Economics focus: Grossly distorted picture From Mar 13th 2008, The Economist print edition. Sub-title "If you look at GDP per head, the world is a different?and, by and large, a better?place"
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