Sweden is one of the fastest developing countries in the world

The other Scandinavian countries occupy the other 4 positions in the Top 5

Sweden was ranked the fastest developing country in the world, followed by its other Scandinavian neighbours filling up the Top 5 positions of the fastest developing countries. 

The categories in which the contries compete are: economic and social development, education,natural capital and resource management as well as governance efficiency.

However, Sweden is not in the top 20 countries in the world regarding infrastructure and market development, part of the governance efficiency category. 

Source: The Local/Sweden