Bangladesh is going to emerge as the 24th largest economy in the world within the next 14 years, i.e. by 2036. This information was given in a report titled ‘World Economic League Table’ published by the Centre for Economics and Business Research (CEBR) on Sunday (26 December).
Bangladesh will be at the forefront among 191 countries mainly due to its ability to attract foreign investment, growing RMG (readymade garments) demand, and macroeconomic stability, the report said.
Bangladesh is currently ranked 42nd in the global economy. The report predicts that Bangladesh will move ahead by one step and rank 41st next year. Further, by 2026, Bangladesh’s position will be 34th and in 2036 it will be 24th. Before this, Bangladesh was ranked 58th in 2006, and Bangladesh was ranked 59th and 46th in 2011 and 2016 respectively.
The report shows that the amount of debt is less than the current GDP of Bangladesh compared to previous years. The CEBR has praised the way Bangladesh has handled the 5.9% revenue deficit this year.
According to the report, Bangladesh is the second-largest economy in South Asia with a fixed GDP of USD 884 billion. The report also predicts that this trend of improvement will continue till 2036. At present, the GDP of Bangladesh is USD 325 billion.
Additionally, Pakistan is in the third position in South Asia after Bangladesh. Sri Lanka, Nepal, Maldives, and Bhutan are in the fourth, fifth, sixth, and seventh positions respectively.
