The 13 fastest-growing economies in the world

China's crazy growth has been one of the biggest stories over the past several decades.

But the Chinese economy certainly isn't the only one posting huge growth rates.

We compiled a list of 13 countries with the highest projected compounded annual growth rate (CAGR) from 2014 through 2017 based on the forecasts from the World Bank's Global Economic Prospects.

Keep in mind that the fastest-growing economies typically aren't among the largest, most developed ones. In fact, most of these countries suffer from high income inequality, low levels of per capita gross domestic product, elevated political instability, and rampant corruption.

13. China

2015 GDP: +7.10%

2016 GDP: +7.00%

2017 GDP: +6.90%

2014-2017 GDP CAGR: +7.10%

Economy: China is a manufacturing powerhouse and exporter, and many believe that its economy will surpass that of the US within the next decade. The government faces major problems, however, as the country transitions into a consumption-based economy. Additionally, per capita income is below the world average.

Source: World Bank, CIA World Factbook

12. Rwanda

2015 GDP: +7.00%

2016 GDP: +7.00%

2017 GDP: +7.50%

2014-2017 GDP CAGR: +7.12%

Economy: Ninety percent of the population works in subsistence agriculture or mineral agroprocessing, while tourism, minerals, coffee, and tea round out Rwanda's economy. Though the country has taken significant steps forward since the 1994 genocide, 45% of the population still lives below the poverty line.

Source: World Bank, CIA World Factbook

11. Tanzania

2015 GDP: +7.20%

2016 GDP: +7.10%

2017 GDP: +7.10%

2014-2017 GDP CAGR: +7.15%

Economy: Tanzania has recently seen high growth rates because of gold production and tourism. The economy also runs on telecommunications, banking, energy, and mining, as well as agriculture. In terms of per capita income, however, the country is one of the poorest in the world.

Source: World Bank, CIA World Factbook