Media reports highlight this and add that, currently, the Bangladesh economy accounts for 0.84% of global GDP, with an expected growth of 0.17% over the next five years.
This growth trajectory is expected to take Bangladesh to 19th position globally in terms of economic size, marking a significant advance from the current 25th position even if in the next five years, Bangladesh is forecast to surpass several economies, including Iran and Thailand. , Australia, Poland, Taiwan and Pakistan.
Bangladesh is topping a key economic milestone, with predictions suggesting the country will surpass the fractional mark and contribute 1.01% to global gross domestic product by 2028, highlights new report of the International Monetary Fund. The IMF's April 2024 edition of the World Economic Outlook database highlights Bangladesh's economic trajectory.
The IMF predicts Bangladesh's GDP will increase by $245.52 billion in the next five years, reaching $691.865 billion in 2028 – a significant increase of 55% compared to $446.349 billion the previous year.
This growth is expected to lead to a 54% increase in economic activities based on Purchasing Power Parity (PPP) Dollars, along with an expected increase in GDP per capita of 48% %.
Despite the challenges posed by the ongoing economic crisis, Bangladesh's economy is expected to grow at 6.03% in 2023, which is expected to slow to 5.70% in 2024 before recover to 6.60% by 2025.
Furthermore, the IMF expects Bangladesh's average GDP growth to be 6.72% in the next fiscal year, followed by 7.10% in 2026, 7.20% in 2027 and 7 % by 2028.
An analysis of IMF time series data highlights Bangladesh's remarkable rise in the global economic landscape, moving up from 44th position in 1980 with a share of 0.376% in global GDP. This steady escalation reflects Bangladesh's emergence as an important player in the global economy, with experts highlighting its significant contributions to world GDP.
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