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Bangla Insider

Bangladesh to be fastest growing economy

News Desk
Published on : 04 October 2018, 02:46 PM
Bangladesh to be fastest growing economy

HSBC Global Research’s latest report on the global gross domestic product rankings in 2030 reveals that Bangladesh will be the 26th largest economy in the world. Besides, it will be the biggest mover. Currently, Bangladesh stands in the 42nd position.

According to the HSBC report, the average GDP growth of Bangladesh from 2018 to 2023 projected to grow 7.3 percent. And in the next five years, from 2023 to 2028, the country`s GDP growth will be 7 percent. Overall, in the next one decade, GDP growth of Bangladesh will be 7.1 percent. The 7.1 growth will be the highest among the 75 countries included in the report. Among the Asian countries, the positions of Philippines, Pakistan, Vietnam, and Malaysia are strong but all will trail behind from Bangladesh.

According to the HSBC report, in the next 12 years, the Philippines will move 11 steps ahead from 38th position to 27th position, Pakistan will move 10 steps ahead from 40th to 30th. Vietnam will move 8 steps ahead from 47th to 39th. Malaysia is likely to jump 5 steps ahead from 34th to 29th.

China will be the biggest contributor in the world economy by 2030, according to HSBC. The United States will be in the second position. India’s current position is 7th, but just over a decade, it will be the world`s third-largest economy. Japan will be in the fourth position and Germany in the fifth.