Bangladesh now world's 35th largest economy

According to Canada-based online publication 'Visual Capitalist', Bangladesh has emerged as the 35th largest economy in the world.

Earlier, the IMF revealed that Bangladesh and India were the only two South Asian countries considered to be part of the 50 largest economies.

Citing IMF statistics, Visual Capitalist published the report titled 'The Top Heavy Global Economy' on December 29, 2022. It has listed countries in terms of gross domestic product (GDP).

Renowned economist Dr Atiur Rahman has said that Bangladesh's economy reached this stage due to its macroeconomic stability and 6-plus GDP growth over the last 12/13 years.

Talking to UNB, he said that the Canadian publication released an appropriate report on Bangladesh and global economists are observing the country’s continued growth even during the Covid-19 pandemic.

Dr Atiur said that Bangladesh’s economy will be the 28th largest by 2030 and its economic volume will be $1 trillion by 2025.

The country has to focus now on developing skilled human resources, good governance, and stable macroeconomic management, he said.

“Bangladesh expended around 12 percent of its total budget to infrastructure development during the last 13 years, which contributed to mega projects including Padma Bridge, Metro Rail, Rapid Mass Transit, Karnaphuli Tunnel, and the development of 100 economic zones,” he added.

As a result, an economic boom is happening in urban and rural areas.

According to the report, neighbouring country India has moved to fifth place in the world economy. Earlier, it was in the sixth position.

With a GDP of $3.46 trillion in 2022, India has overtaken the United Kingdom to occupy the fifth place.

The first, second, third, and fourth places in the list are USA, China, Japan, and Germany, respectively. The remaining five countries in the world's 10 largest economies are the UK, France, Canada, Russia, and Italy.

According to the report, two major events happened in the world in the year 2022. First, the world's population has crossed 8 billion. Second, the size of the world economy has crossed $100 trillion to $101.56 trillion.