Homo Sapiens
ELITE MEMBER
- Joined
- Feb 3, 2015
- Messages
- 9,641
- Reaction score
- -1
- Country
- Location
Report: Bangladesh will be among top 3 fastest growing economies
A PwC report released on Thursday says the economic output of Bangladesh could double from $628 billion in 2016 to $1.3 trillion in 2030, moving the country up to 28th in the ranking of world economies.
Bangladesh will be among the top three fastest growing economies in the world by 2030, the consultancy firm PricewaterhouseCoopers (PwC) has said.
Its report titled ‘The long view: how will the global economic order change by 2050?’ also predicts that Bangladesh could rise further in the ranking by achieving an average annual growth of around 5% over the next 34 years.
The report ranked 32 countries by their projected global gross domestic product (GDP) by purchasing power parity (PPP).
PPP estimates of GDP adjust for price level differences across countries, providing a better measure of the volume of goods and services produced by an economy as compared to GDP at current market exchange rates, which is a measure of value.
Bangladesh ranked 31st among the world’s 32 largest economies in 2016, which together account for around 85% of global GDP.
“Emerging market economies will drive global growth and eventually increase their share of world GDP,” the report says. “During this period, there will be a shift in global economic power. We project that the world economy will double in size by 2042, growing at an annual average rate of around 2.6% between 2016 and 2050”.
It also predicts that the E7 economies – Brazil, China, India, Indonesia, Mexico, Russia and Turkey – will account for almost 50% of the world GDP by 2050, while the G7’s share will decline to only just over 20%.
The findings by the PwC, one of the world’s largest professional-services firms, show that China, India and the US will remain at the top of the table, but in a new order.
China is already the top country in terms of PPP, while India has been projected to be the world’s second-largest economy, beating the US in GDP by PPP terms before 2050.
In the same time frame, Bangladesh, India and Vietnam are predicted to be the fastest growing economies, with Bangladesh expected to see impressive growth that will push it to 23rd place overall.
However, PwC says that realising Bangladesh’s growth potential depends on sustained investment and reform.
“Growth in these countries is driven even more by real GDP per capita growth, suggesting capital investment and technological progress will deliver real labour productivity enhancing benefits,” the report says.
“For these countries to realise this potential, growth needs to be supported by sustained economic reforms, strengthening macroeconomic fundamentals, institutions and, crucially, mass education to ensure their rapidly growing working populations contribute productively to long term economic growth.”
http://www.dhakatribune.com/banglad...h-will-among-top-3-fastest-growing-economies/
- Tribune Desk
- Published at 11:19 AM March 23, 2017
- Last updated at 06:55 PM March 23, 2017
A PwC report released on Thursday says the economic output of Bangladesh could double from $628 billion in 2016 to $1.3 trillion in 2030, moving the country up to 28th in the ranking of world economies.
Bangladesh will be among the top three fastest growing economies in the world by 2030, the consultancy firm PricewaterhouseCoopers (PwC) has said.
Its report titled ‘The long view: how will the global economic order change by 2050?’ also predicts that Bangladesh could rise further in the ranking by achieving an average annual growth of around 5% over the next 34 years.
The report ranked 32 countries by their projected global gross domestic product (GDP) by purchasing power parity (PPP).
PPP estimates of GDP adjust for price level differences across countries, providing a better measure of the volume of goods and services produced by an economy as compared to GDP at current market exchange rates, which is a measure of value.
Bangladesh ranked 31st among the world’s 32 largest economies in 2016, which together account for around 85% of global GDP.
“Emerging market economies will drive global growth and eventually increase their share of world GDP,” the report says. “During this period, there will be a shift in global economic power. We project that the world economy will double in size by 2042, growing at an annual average rate of around 2.6% between 2016 and 2050”.
It also predicts that the E7 economies – Brazil, China, India, Indonesia, Mexico, Russia and Turkey – will account for almost 50% of the world GDP by 2050, while the G7’s share will decline to only just over 20%.
The findings by the PwC, one of the world’s largest professional-services firms, show that China, India and the US will remain at the top of the table, but in a new order.
China is already the top country in terms of PPP, while India has been projected to be the world’s second-largest economy, beating the US in GDP by PPP terms before 2050.
In the same time frame, Bangladesh, India and Vietnam are predicted to be the fastest growing economies, with Bangladesh expected to see impressive growth that will push it to 23rd place overall.
However, PwC says that realising Bangladesh’s growth potential depends on sustained investment and reform.
“Growth in these countries is driven even more by real GDP per capita growth, suggesting capital investment and technological progress will deliver real labour productivity enhancing benefits,” the report says.
“For these countries to realise this potential, growth needs to be supported by sustained economic reforms, strengthening macroeconomic fundamentals, institutions and, crucially, mass education to ensure their rapidly growing working populations contribute productively to long term economic growth.”
http://www.dhakatribune.com/banglad...h-will-among-top-3-fastest-growing-economies/
....the consumption basket must have changed drastically since 2011 after all.
but everyone else is 
