Of the 150 Thai companies surveyed, 9 per cent surpassed average growth to be categorised as "super growth companies". Grant Thornton Thailand partner Peter Walker considers that midfield is a reasonable position for an economy like Thailand's which has, in recent years, witnessed some of the negative affects of too rapid growth in a developing economy.

Despite scoring the highest ranking (39 per cent), the US saw its number of super growth companies fall by 9 percentage points. In contrast, the booming economies of India and Hong Kong surged ahead to take joint second place. With more than a third of companies (34 per cent) achieving super growth status, both economies were within reach of challenging the US for the top slot on the index. Mainland China came in 14th position, with 14 per cent of its companies classified as super growth.

Strong growth performances came from Sweden (31 per cent), which climbed back up the index to third position after dramatically falling to tenth last year from first position in 2004, followed by Ireland (26 per cent), the United Kingdom (23 per cent) and Canada (23 per cent). Sweden's resurgence was a reflection of a recovery in domestic spending and increased business investment.

The Super Growth Index, now in its third year, is a research project which forms part of the Grant Thornton International Business Owners Survey (IBOS), which surveys more than 7,000 business owners in 30 countries.

A "super growth" company is one which has grown considerably more than the average, measured against key indicators including turnover and employment.

This year, the survey established that super growth companies are 23 per cent more likely to export than ordinary companies.