Bangladesh Will Be Amongst Top 3 Fastest Growing Economies Globally Through 2050

Via Frontrera News, a report on Bangladesh’s growing economic presence:

Bangladesh (FM) has been seeing its economic prowess grow. Its economic growth stood at 7.11% for fiscal year 2015-16 – higher than the 7.05% projected earlier by the government. This was also the first time its economic growth stood above the 7% mark. In the previous fiscal year, economic growth had risen at 6.55%. In Bangladesh, a fiscal year begins in July and ends in June of the succeeding year.

After the release of the final figures, Planning Minister Mostafa Kamal had said that “to the best of my knowledge, this is the highest GDP growth rate achieved by the country after independence [1971].

The growth was a surprise to the upside not only for the government but for agencies such as the World Bank as well. For 2016-17, the government has set a target of 7.2% growth even though the World Bank sees a 6.8% pace. Meanwhile, the Asian Development Bank – whose revised estimates of 7.1% growth for 2015-16 were quite close to the actual figure – estimates a 6.9% pace for the current fiscal.

Projections by PwC

PricewaterhouseCoopers, in a report titled ‘The long view: how will the global economic order change by 2050?’ estimated that Bangladesh can potentially become the world’s 28thlargest economy by 2030, up from 31st in 2016.

It further stated that the country could become the 23rd largest economy by 2050 with an average annual growth of ~5%. If it does so, it would supersede countries like Australia, Spain, South Africa, and Malaysia.

On a PPP basis, PwC predicted that the economic output of Bangladesh could grow from $628 billion in 2016 to $1.3 trillion in 2030, and to $3.1 trillion in 2050.

With this broad overview of the country’s economic present and possible future, let’s look at how the regional economic heavyweight, Russia, fits into Bangladesh’s emerging economic picture.



This entry was posted on Tuesday, February 28th, 2017 at 7:59 pm and is filed under Bangladesh.  You can follow any responses to this entry through the RSS 2.0 feed.  Both comments and pings are currently closed. 

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Wildcats & Black Sheep is a personal interest blog dedicated to the identification and evaluation of maverick investment opportunities arising in frontier - and, what some may consider to be, “rogue” or “black sheep” - markets around the world.

Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.