Home ›› 28 Dec 2020 ›› World Biz
Bangladesh’s economy will be 28th largest in 2030 and 25th largest in 2035, reports UK based Centre for Economics and Business Research (CEBR).
According to the same report, the ranking of Bangladesh economy in 2021 will be 41, which is identical to that of 2020.
The report said that Bangladesh did a good job in maintaining the same level of growth despite Covid-19 blowbacks.
"Bangladesh will be the 25th largest economy, which is now being ranked by Thailand, one of the Asian giant economies, by 2035 when its economy will cross $1.0 trillion mark at current prices," according to the report.
The report also projects that the economy of Bangladesh will take a first significant leap in the year 2025, replacing Egypt oin the 34th position.
According to the same projection, Bangladesh's annual rate of GDP will accelerate to an average of 6.8 per cent between 2021 and 2025.
The country's GDP at local currency at constant prices will stand at Tk 11,983 billion ($313 billion) in 2021. By 2025, it will go up to Tk 15,979 billion ($420 billion).
By 2030, the GDP at local currency at constant prices will stand at Tk 21,893 billion ($594 billion) and by 2035 at Tk 29,995 billion ($855 billion).
The GDP at current prices of Bangladesh will stand at $338 billion in 2021, $488 in 2025, $760 billion in 2030 and $1.2 trillion in 2035.
The report said the economy enjoyed a strong rate of GDP growth in the years leading up to the Covid-19 pandemic, despite a modest rate of population growth, which averaged just 1 per cent per year over the past five years.
The CEBR is an international independent economic forecasting and analysis firm. It released the latest forecasting on December 26.
According to the report, China will overtake the US to become the world's largest economy by 2028, five years earlier than previously forecast, the report said.
India is set to become the third-largest economy by 2030 while Pakistan will be placed at 36th in 2035.
