National, Front Page

Bangladesh economy ranks 41st in world

Published : 16 Jul 2022 09:45 PM

Based on the Gross domestic product (GDP) size, Bangladesh is the 41st largest economy in the world and its position is second in South Asia. 

This information has emerged in a survey conducted by the Canadian-based news organization Visual Capitalist in the light of the IMF data published on 191 countries based on a global GDP of $104 trillion. 

According to the report, the size of the GDP of Bangladesh is 397 billion or USD 39700 crore. India is the only country placed above Bangladesh in South Asia. The country’s GDP is 3.3 trillion or USD 330000 crore. India’s position is sixth in the global list. There is no other South Asian country in the top 50 by GDP. 

In the top 50 country, Bangladesh is in 41st position while the United States is still the economic leader worldwide, with a GDP of $25.3 trillion—making up nearly one quarter of the global economy. China follows close behind at $19.9 trillion. 

While China’s GDP growth has slowed in recent years, but the projections still indicate that the country will overtake the US by 2030, dethroning the world’s economic leader. 

The report primarily measures the size of the global economy based on the trillion dollar standard. The size of the world economy in 2020 was USD 88 trillion. In 2021, it increased to USD 94 trillion. According to the International Monetary Fund (IMF), the size of the global economy (based on GDP) will be $104 trillion in 2022. 

The report added that although growth keeps trending upwards, the recovery that was expected in the post-pandemic period is looking strained. Because of recent conflicts, supply chain bottlenecks, and subsequent inflation, global economic projections are getting revised downwards. 

Global annual GDP growth for 2022 was initially projected to be 4.4 percent as of January, but this has since been adjusted to 3.6 percent, the report read.