Bangladesh expected to eclipse 1.01% global GDP share by 2028

Media reports underlined this adding, presently, Bangladesh's economy constitutes 0.84 per cent of the global GDP, with an expected growth of 0.17 per cent over the upcoming five years.

This growth trajectory is expected to propel Bangladesh to the 19th position globally in terms of economic size, marking a substantial advancement from its current 25th position even as over the next five years, Bangladesh is forecasted to surpass several economies, including those of Iran, Thailand, Australia, Poland, Taiwan, and Pakistan.

The IMF projects Bangladesh's GDP to surge by $245.52 billion over the next five years, reaching $691.865 billion by 2028—a remarkable 55 per cent increase from the previous year’s $446.349 billion.

This growth is expected to translate into a 54 per cent increase in economic activities based on Purchasing Power Parity (PPP) Dollar, alongside a projected 48 per cent rise in per capita GDP.

Despite challenges posed by the ongoing economic crisis, Bangladesh’s economy exhibited a growth rate of 6.03 per cent in 2023, expected to moderate to 5.70 per cent in 2024 before rebounding to 6.60 per cent in 2025.

Furthermore, the IMF expects an average GDP growth of 6.72 per cent for Bangladesh in the next fiscal year, followed by rates of 7.10 per cent in 2026, 7.20 per cent in 2027, and 7 per cent in 2028.

An analysis of IMF time series data underscores Bangladesh’s remarkable ascent in the global economic landscape, progressing from the 44th position in 1980 with a 0.376 per cent share of the global GDP. This steady climb reflects Bangladesh’s emergence as a significant player in the global economy, with experts emphasising its substantial contributions to the world GDP.

ALCHEMPro News Desk (DR)