Bangladesh’s economy exceeded the USD 1 trillion milestones for the first time in its history in January 2022. The International Monetary Fund (IMF) has made this projection based on purchasing power parity (PPP). IMF projections predict Bangladesh’s real GDP will grow by 6.5 percent in 2022, while the UN estimates a 5.8 percent growth in the same year. In terms of purchasing power parity, Bangladesh’s economy is currently valued at USD 1,061.571 billion, according to the IMF.
The size of an economy is measured by GDP, calculated using current prices and purchasing power parity. In terms of PPP, Bangladesh’s economy was more than half a trillion dollars in FY 2013-14. According to the IMF’s projection, based on PPP, Bangladesh’s economy will reach USD 1.522 trillion by FY 2026. In addition, Bangladesh intends to become a developed country by 2041 and eliminate hunger and poverty by 2030.
With a boom in the service sector and a surge in exports of RMG, Bangladesh is expected to grow its GDP by 6.4 percent in FY 2021-22 and 6.9 percent in FY 2022-23. According to a British think tank, Bangladesh ranked the 41st largest economy in 2019. Bangladesh’s per capita income increased to USD 2,554 in 2021 as GDP was recalculated for the new base year of 2015-16. The country’s total GDP was more than USD 409 billion at current prices.
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