World's best economies in 2013
The International Monetary Fund rates these economies best
in the world by at least one measure.
2013-12-27
- Brunei: Least debt
Measure: Government debt
2013 estimate : 2.4%
The tiny Islamic kingdom draws its considerable wealth from oil and gas reserves. Living standards for the 400,000 or so Bruneians are high: they pay no income tax and enjoy the second highest per capita income in southeast Asia.
The country's ruler Sultan Hassanal Bolkiah is thought to be one of the wealthiest people in the world.
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But the state's energy riches are fast depleting. Brunei is trying to reduce its dependence on oil by pushing into sectors like banking and tourism.
- Equatorial Guinea: Most investment
Measure: Total investment as a percentage of GDP
2013 estimate : 61.3%
Oil discoveries in the 1990s have transformed this former farming economy. These reserves have helped secure investment and the small nation on the west coast of Africa has the highest per capita income on the continent.
Equatorial Guinea exports crude oil to North America, Europe, and Asia, while Japan is the major buyer of its natural gas.
Related: U.S. to become top oil producer by 2015
The influx of foreign cash into the energy sector has helped improve basic infrastructure in the country, though it continues to battle endemic social problems including poverty and high rates of disease.
- South Sudan: Fastest growing
Measure: GDP growth
2013 estimate : 24.7%
Today South Sudan, which formally split from Sudan in 2011, is on the brink of civil war. Violence has escalated since a reported coup attempt in December.
In 2013, however, the world's newest country powered back to life after a dispute with Sudan prompted the government to shut oil production -- causing a sharp economic contraction in 2012.
Oil production resumed in April and sparked rapid growth in the economy, which depends almost entirely on oil revenues.
But the upbeat growth prospects mask a far bleaker reality of life in the severely underdeveloped African nation.
- United States: Largest economy
Measure: Size of economy
2013 estimate : $16.7 trillion
America is still by far the biggest kid on the economic block. GDP is forecast to grow to $16.7 trillion in 2013. That's nearly double the size of the world's second largest economy -- China -- which is valued at $8.94 trillion.
Related: What's ahead for the U.S. economy in 2014
The strength of the U.S. recovery this year has allowed the Federal Reserve to begin reducing the amount of cash it has been pumping into the economy.
But many Americans aren't yet feeling the benefits of the upturn. The pain is particularly acute for the long term unemployed, while limited wage growth and rising mortgage rates are hurting others.
- Luxembourg: Highest per capita income
Measure: GDP per capita
2013 estimate : $110,573.00
For the second year in a row, Luxembourg boasts the highest gross domestic product per head.
The tiny European country clinches the top spot thanks to its small population and stable, finance-led economy. It beats out energy-rich Qatar, where per capita income stands at $104,655.
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Living standards in Luxembourg, flush with foreigners working in financial services, are high and modest growth is projected for 2013 - outpacing most of its peers in the fragile eurozone.
Source: CNN Money