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Bangladesh, 41st largest economy in the world now

Black_cats

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Bangladesh, 41st largest economy in the world now

Bangladesh and India are the two South Asian countries on the list

Padma Bridge

File Photo of Padma Bridge Mahmud Hossain Opu/Dhaka Tribune
Tribune Desk
July 16, 2022 8:23 AM

Bangladesh is now the 41st largest economy in the world, according to new data from the International Monetary Fund (IMF).

Bangladesh and India were the only two South Asian countries considered to be part of the 50 largest economies of the world.

The data can be seen in a visualized statistic published by the Visual Capitalist with data from the IMF, the 50 largest economies were responsible for the $100 trillion world economy.

global-gdp-2022.jpeg

Although India remained the sixth largest global economy, the same as last year, Bangladesh moved up a notch from 42nd in 2021 to 41st position this year.

However, Bangladesh's gross domestic product (GDP) of $397 billion this year, which amounted to 0.4% of the global GDP, was lower than last year's $400 billion figure.

Among other South Asian countries, only Bhutan was ranked 163rd with a GDP of $3 billion, as one of the lowest global GDP contributors.

But statistics for other South Asian countries such as Pakistan and Sri Lanka were unavailable as they did not make the top 50 list.

According to the latest projections, the IMF expects the global economy to reach nearly $104 trillion in nominal value by the end of 2022.

The United States was still the economic leader worldwide, with a GDP of $25.3 trillion—making up nearly one quarter of the global economy.

China followed close behind at $19.9 trillion.

The frontrunner in Europe is Germany at $4.3 trillion, with the UK coming in second place.

One significant change since the last reported figures is that Brazil now cracks the top 10, having surpassed South Korea.

Russia falls just outside, in 11th place, with a GDP of $1.8 trillion.

Some of the world’s smallest economies were hit particularly hard by the pandemic, and have subsequently been the most affected by the inflation and food supply shortages resulting from the war in Ukraine.

The smallest economy in the world measured in the IMF rankings is Tuvalu at $66 million.

Most of the bottom 50 are considered low- to middle-income and emerging/developing countries.

According to the World Bank, in developing countries, the level of per capita income in 2022 will be about 5% below the pre-pandemic trends.

Russia is expected to experience a GDP growth rate of -8.5% in 2022, though it still remains to be seen how the cost of war and increasingly harsh global sanctions impact the country’s economic prospects.

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

Although growth keeps trending upwards, the recovery that was expected in the post-pandemic period is looking strained.

But because of recent conflicts, supply chain bottlenecks, and subsequent inflation, global economic projections are getting revised downwards.

 

Homo Sapiens

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Finally Bangladesh entered the global GDP pie chart. I have seen this pie chart before and Bangladesh was not there. But a country with 8th largest population, 41st in GDP is very poor. Goal should be to climb within the prestigious top 20 in this league before 2050.
 
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Black Tornado

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Bangladesh, 41st largest economy in the world now

Bangladesh and India are the two South Asian countries on the list

Padma Bridge

File Photo of Padma Bridge Mahmud Hossain Opu/Dhaka Tribune
Tribune Desk
July 16, 2022 8:23 AM

Bangladesh is now the 41st largest economy in the world, according to new data from the International Monetary Fund (IMF).

Bangladesh and India were the only two South Asian countries considered to be part of the 50 largest economies of the world.

The data can be seen in a visualized statistic published by the Visual Capitalist with data from the IMF, the 50 largest economies were responsible for the $100 trillion world economy.

global-gdp-2022.jpeg

Although India remained the sixth largest global economy, the same as last year, Bangladesh moved up a notch from 42nd in 2021 to 41st position this year.

However, Bangladesh's gross domestic product (GDP) of $397 billion this year, which amounted to 0.4% of the global GDP, was lower than last year's $400 billion figure.

Among other South Asian countries, only Bhutan was ranked 163rd with a GDP of $3 billion, as one of the lowest global GDP contributors.

But statistics for other South Asian countries such as Pakistan and Sri Lanka were unavailable as they did not make the top 50 list.

According to the latest projections, the IMF expects the global economy to reach nearly $104 trillion in nominal value by the end of 2022.

The United States was still the economic leader worldwide, with a GDP of $25.3 trillion—making up nearly one quarter of the global economy.

China followed close behind at $19.9 trillion.

The frontrunner in Europe is Germany at $4.3 trillion, with the UK coming in second place.

One significant change since the last reported figures is that Brazil now cracks the top 10, having surpassed South Korea.

Russia falls just outside, in 11th place, with a GDP of $1.8 trillion.

Some of the world’s smallest economies were hit particularly hard by the pandemic, and have subsequently been the most affected by the inflation and food supply shortages resulting from the war in Ukraine.

The smallest economy in the world measured in the IMF rankings is Tuvalu at $66 million.

Most of the bottom 50 are considered low- to middle-income and emerging/developing countries.

According to the World Bank, in developing countries, the level of per capita income in 2022 will be about 5% below the pre-pandemic trends.

Russia is expected to experience a GDP growth rate of -8.5% in 2022, though it still remains to be seen how the cost of war and increasingly harsh global sanctions impact the country’s economic prospects.

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

Although growth keeps trending upwards, the recovery that was expected in the post-pandemic period is looking strained.

But because of recent conflicts, supply chain bottlenecks, and subsequent inflation, global economic projections are getting revised downwards.

Congrats
 

Abdul Rehman Majeed

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Finally Bangladesh entered the global GDP pie chart. I have seen this pie chart before and Bangladesh was not there. But a country with 8th largest population, 41st is very poor. Goal should be to climb within the prestigious top 20 in this league before 2050.

BD should look to take Germany's spot whose economy is about to collapse due to lack of Oil & Gas.
 

Black_cats

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IMF calculated the GDP based on 2005 base year. With 2015 base year Bangladesh might improve the position little further with around 420-430 billion USD counting depreciation of BDT against USD. Otherwise it was expected to be 480 billion USD with 2015 base year.
 

Black_cats

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This image is clear. Plus based on the table it’s clear Bangladesh has already reached 36th to 38th spot if 2015 base year is considered with 420-430 Billion USD.


100-trillion-global-economy-1800px.jpg


RankCountryGDP (current prices, USD)
#1United States$25.3 trillion
#2China$19.9 trillion
#3Japan$4.9 trillion
#4Germany$4.3 trillion
#5United Kingdom$3.4 trillion
#6India$3.3 trillion
#7France$2.9 trillion
#8Canada$2.2 trillion
#9Italy$2.1 trillion
#10Brazil$1.8 trillion
#11Russia$1.8 trillion
#12South Korea$1.8 trillion
#13Australia$1.7 trillion
#14Iran$1.7 trillion
#15Spain$1.4 trillion
#16Mexico$1.3 trillion
#17Indonesia$1.3 trillion
#18Saudi Arabia$1.0 trillion
#19Netherlands$1.0 trillion
#20Switzerland$842 billion
#21Taiwan$841 billion
#22Poland$700 billion
#23Turkey$692 billion
#24Sweden$621 billion
#25Belgium$610 billion
#26Argentina$564 billion
#27Norway$542 billion
#28Thailand$522 billion
#29Israel$521 billion
#30Ireland$516 billion
#31Nigeria$511 billion
#32United Arab Emirates$501 billion
#33Austria$480 billion
#34Malaysia$439 billion
#35Egypt$436 billion
#36South Africa$426 billion
#37Singapore$424 billion
#38Philippines$412 billion
#39Vietnam$409 billion
#40Denmark$399 billion
#41Bangladesh$397 billion
#42Hong Kong SAR$369 billion
#43Colombia$351 billion
#44Chile$318 billion
#45Finland$298 billion
#46Iraq$297 billion
#47Czechia$296 billion
#48Romania$287 billion
#49New Zealand$257 billion
#50Portugal$252 billion
 
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BananaRepublicUK

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This image is clear. Plus based on the table it’s clear Bangladesh has already reached 36th to 38th spot if 2015 base year is considered with 420-430 Billion USD.


100-trillion-global-economy-1800px.jpg


RankCountryGDP (current prices, USD)
#1United States$25.3 trillion
#2China$19.9 trillion
#3Japan$4.9 trillion
#4Germany$4.3 trillion
#5United Kingdom$3.4 trillion
#6India$3.3 trillion
#7France$2.9 trillion
#8Canada$2.2 trillion
#9Italy$2.1 trillion
#10Brazil$1.8 trillion
#11Russia$1.8 trillion
#12South Korea$1.8 trillion
#13Australia$1.7 trillion
#14Iran$1.7 trillion
#15Spain$1.4 trillion
#16Mexico$1.3 trillion
#17Indonesia$1.3 trillion
#18Saudi Arabia$1.0 trillion
#19Netherlands$1.0 trillion
#20Switzerland$842 billion
#21Taiwan$841 billion
#22Poland$700 billion
#23Turkey$692 billion
#24Sweden$621 billion
#25Belgium$610 billion
#26Argentina$564 billion
#27Norway$542 billion
#28Thailand$522 billion
#29Israel$521 billion
#30Ireland$516 billion
#31Nigeria$511 billion
#32United Arab Emirates$501 billion
#33Austria$480 billion
#34Malaysia$439 billion
#35Egypt$436 billion
#36South Africa$426 billion
#37Singapore$424 billion
#38Philippines$412 billion
#39Vietnam$409 billion
#40Denmark$399 billion
#41Bangladesh$397 billion
#42Hong Kong SAR$369 billion
#43Colombia$351 billion
#44Chile$318 billion
#45Finland$298 billion
#46Iraq$297 billion
#47Czechia$296 billion
#48Romania$287 billion
#49New Zealand$257 billion
#50Portugal$252 billion

The gap between the top two and the rest is calamitous.

Rapid ageing and falling birth rates mean the opportunity for the rest to catchup - has gone.

From 2030 - massive amount of money will be spent on old age care. This will push up the wages of nurses and doctors.

And with that will disappear - export led growth.

Hence BD needs to rapidly maximise its advantage in garments - MAKE AS MUCH MONEY AS YOU CAN - build infrastructure with it.

Germans are not dumb , they will just fire up their older coal plants and nuclear plants to make up for the shortage in energy supply .

According to the Guardian reports this morning - they already have.

The EU will call for short term rise in coal power.

The EU is a massively hypocritical unit. Look how they badgered BD for coal power despite consuming very little electricity!

Anyway, Putin has accelerated the rush to nuclear.

Idiotic “green lobby” will now be trampled on.

BD needs to build another nuclear power station by 2030. Rolls Royce would be good - if that can be financed. Otherwise, it has to be Russian or Chinese tech - I am afraid!
 
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Black Tornado

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3.3 is low for India , we will hit atleast 3.5 Trillion , will be the 5th largest economy.
This year we would be a $3.5 tn economy. UK is under recession and their currency has gone down 17%. British GDP was £2.2 trillion in 2021 which today translates to $2.6 trillion (yes comparing last year’s GDP with current exchange rate doesn’t make sense but I did it to give you an idea).
 

mb444

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Based on world bank GDP calculation BD is 32 largest GDP in the world. It has overtaken Malaysia and starting to catchup south africa and nigeria.

Our nearest asian target is thailand but we have a long way to go to catchup with them.

This is obviously total size of the GDP rather than per capita which is the real barometer in my opinion. Given the size of our population we have a very very long way to go but incrementally we see progress.

World bank 2021 report is here.

https://databank.worldbank.org › ...PDF Gross domestic product 2021 - World Bank DataBank
 

Bilal9

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Look Indians - can you take off-topic Indian discussion to the Indian section please?

Thread hijack by Indian posters has been reported.
 

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