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Bangladesh 2nd largest economy in South Asia
To become 24th largest economy in world by 2033: UK think tank
Bangladeshi farmers harvest rice in a field in Manikganj on the outskirts of Dhaka on August 27, 2018. Photo: AFP
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Bangladeshi farmers harvest rice in a field in Manikganj on the outskirts of Dhaka on August 27, 2018. Photo: AFP
Staff Correspondent
Bangladesh has been ranked 41st among the world's largest economies in 2019, moving up two notches from last year's. The country has become the second biggest economy in South Asia, according to an analysis by a London-based think-tank.
Among the other South Asian countries, India is ranked 5th, Pakistan 44th, Sri Lanka 66th, Nepal 101st, Afghanistan 115th, the Maldives 156th, and Bhutan 166th, in the World Economic League Table, published annually by the Centre for Economics and Business Research (CEBR).
With the United States at the top of the table, China, Japan, Germany and India take the lead as the top five economies.
The report which forecasts the fortunes of 193 countries to 2033 says China is likely to overtake the US as the world's number one economy in 2032, two years later than previously expected, due to a more lax monetary policy and lower exchange rate.
In the long run, many Asian economies will rise through the ranks of the table as these countries cash in on their demographic dividends.
The two most prominent examples are Bangladesh, which will enter the top 25 largest economies in 24th place in 2033, and Pakistan, which will rise to 27th in 2033, said the report.
“We expect annual rates of GDP growth [in Bangladesh] to average 7 percent between 2018 and 2033. This will see the country climb 19 places in the World Economic League Table to become the world's 24th largest economy by 2033,” said the report, which was released on December 26.
Bangladesh will rank 36th in 2023 and 27th in 2028.
To become 24th largest economy in world by 2033: UK think tank
Bangladeshi farmers harvest rice in a field in Manikganj on the outskirts of Dhaka on August 27, 2018. Photo: AFP
" style="box-sizing: border-box; margin-bottom: 24px !important; cursor: pointer; position: relative; display: table; z-index: 1;">
Bangladeshi farmers harvest rice in a field in Manikganj on the outskirts of Dhaka on August 27, 2018. Photo: AFP
Staff Correspondent
Bangladesh has been ranked 41st among the world's largest economies in 2019, moving up two notches from last year's. The country has become the second biggest economy in South Asia, according to an analysis by a London-based think-tank.
Among the other South Asian countries, India is ranked 5th, Pakistan 44th, Sri Lanka 66th, Nepal 101st, Afghanistan 115th, the Maldives 156th, and Bhutan 166th, in the World Economic League Table, published annually by the Centre for Economics and Business Research (CEBR).
With the United States at the top of the table, China, Japan, Germany and India take the lead as the top five economies.
The report which forecasts the fortunes of 193 countries to 2033 says China is likely to overtake the US as the world's number one economy in 2032, two years later than previously expected, due to a more lax monetary policy and lower exchange rate.
In the long run, many Asian economies will rise through the ranks of the table as these countries cash in on their demographic dividends.
The two most prominent examples are Bangladesh, which will enter the top 25 largest economies in 24th place in 2033, and Pakistan, which will rise to 27th in 2033, said the report.
“We expect annual rates of GDP growth [in Bangladesh] to average 7 percent between 2018 and 2033. This will see the country climb 19 places in the World Economic League Table to become the world's 24th largest economy by 2033,” said the report, which was released on December 26.
Bangladesh will rank 36th in 2023 and 27th in 2028.
