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Bangladesh to be the 26th largest economy: HSBC report

Bangladesh to be the 26th largest economy: HSBC report

Bangladesh will likely to be the biggest mover in the global gross domestic product rankings in 2030, says a report of HSBC Global Report.

The report titled “The World in 2030: Our long term projections for 75 countries” says Bangladesh is becoming the 26th largest economy in the world from the current 42nd position.

Bangladesh will be followed by Philippines, Pakistan, Vietnam and Malaysia.

“The starting point for a country is a key part of its potential growth. It is very clear that a country such as Bangladesh has far more potential growth than one like Norway, which is far richer,” it said.

According to the report, the real GDP growth of Bangladesh would be 7.1% per year up to 2030 and the country will be a $700 billion economy in 2030 from $300 billion now.

The report focuses on six main categories of economic indicators: catch-up potential, population (size and shape), human capital (education and healthcare), politics, openness and technology.

- Source: Local media reports