Between 1984 and 2024, Equatorial Guinea recorded the highest GDP growth rate among all countries, with an astonishing 28,409%. The Maldives followed with 6,111%, and China ranked third with 5,854%. South Korea achieved 1,774% growth, placing it 10th globally. The chart shows the ranking of countries based on their long-term economic growth rates.
Top GDP Growth Rate Rankings from 1984 to 2024
Between 1984 and 2024, Equatorial Guinea recorded the highest GDP growth rate among all countries, with an astonishing 28,409%.
GDP, or Gross Domestic Product, is the total monetary value of all final goods and services produced within a country’s borders in a given period. It is widely used as a key indicator to assess a country's economic size and growth over time.
Over the past four decades, global economic growth patterns have revealed dramatic shifts across continents, and some countries have experienced extraordinary transformations. At the top of the list is Equatorial Guinea, which saw its GDP grow from just $44 million in 1984 to over $12.5 billion in 2024—an incredible 28,409% increase. This explosive growth is largely attributed to the discovery and commercial exploitation of offshore oil resources beginning in the 1990s, which drastically altered the nation's economic landscape.
The Maldives comes in second with a 6,111% increase, driven primarily by its thriving tourism sector. With a focus on luxury resorts and sustainable tourism strategies, the island nation successfully attracted foreign investment and consistently grew its economy despite its limited land and resources.
China ranks third with a 5,854% increase in GDP. Starting in the early 1980s with its economic reform and opening-up policies, China has transformed into the world’s second-largest economy. Its export-driven model, manufacturing capacity, and more recently, a shift towards consumption and technology-driven growth, have all played a key role in this remarkable expansion.
South Korea, ranked 10th, recorded a 1,774% increase in GDP. From an emerging economy in the 1980s, it has evolved into a high-tech, export-oriented industrial power. Key sectors like semiconductors, electronics, shipbuilding, and automobiles have driven its rapid economic ascent, supported by consistent investment in education, infrastructure, and innovation.
Other notable countries in the top ranks include Qatar (3,779%), Guyana (3,670%), and Ireland (2,803%), which benefited from energy exports, resource discoveries, and favorable tax and investment policies, respectively. Many of these countries used foreign direct investment, strategic economic reforms, or natural resource booms to fuel their development.
This ranking illustrates not only economic growth figures but also reflects the structural transformations and strategic choices that shaped each country’s trajectory. From oil-rich nations to small island economies and industrialized giants, the diversity in growth stories underscores the multifaceted nature of long-term development.
| Rank | Name | Indicator | Subindicator |
|---|---|---|---|
1 | 28,409.1% | 1984 : $ 44M | |
2 | 6,111.5% | 1984 : $ 113M | |
3 | 5,854.9% | 1984 : $ 314B | |
4 | 3,779.7% | 1984 : $ 5.7B | |
5 | 3,670.5% | 1984 : $ 654M | |
6 | 2,803.1% | 1984 : $ 19.8B | |
7 | 2,698.1% | 1984 : $ 19.5B | |
8 | 2,492.8% | 1984 : $ 3.6B | |
9 | 2,024.7% | 1984 : $ 4.3B | |
10 | 1,774.4% | 1984 : $ 99.7B | |
11 | 1,767.1% | 1984 : $ 146M | |
12 | 1,745.3% | 1984 : $ 211B | |
13 | 1,740.5% | 1984 : $ 168M | |
14 | 1,697.7% | 1984 : $ 30B | |
15 | 1,608.9% | 1984 : $ 8.3B | |
16 | 1,582.1% | 1984 : $ 26.8B | |
17 | 1,531.0% | 1984 : $ 20.2B | |
18 | 1,520.9% | 1984 : $ 1.1B | |
19 | 1,513.0% | 1984 : $ 1.2B | |
20 | 1,504.8% | 1984 : $ 1.4B |
