Bangladesh now ranks 37th out of 189 nations with a GDP of $434 billion. The London-based Centre for Economics and Business Research (CEBR) predicts that it will move up 16 ranks to become the 21st largest economy by 2039. Massive infrastructural expenditures, the benefits of a growing demographic dividend, and effective diversification outside of the apparel industry into industries like electronics and pharmaceuticals are all credited with this impressive development. According to the CEBR’s 16th annual “World Economic Outlook” study, by 2039, Bangladesh’s economy will be larger than that of high-income nations like Switzerland, the United Arab Emirates, Sweden, and Belgium. The “World Economic League Table 2025” study projects that, at current U.S. dollar pricing, Bangladesh’s economy would grow to $1.60 trillion by 2039.
Bangladesh still has issues with its per capita GDP, nonetheless, in spite of significant economic growth. It is predicted that its per capita GDP would only reach $8,061 by 2039, ranking it 123rd out of 189 nations. This discrepancy emphasizes the misalignment between personal wealth and overall economic development. In contrast, Switzerland is expected to have the third-highest GDP in the world in 2039, with a per capita GDP of $156,773, which is 18 times more than Bangladesh’s. The UAE will continue to lead in per capita GDP at $105,209, which is 12 times larger than Bangladesh’s, while being overtaken in terms of overall GDP size, placing it in 12th place internationally. With their respective rankings of 18th and 22nd in terms of per capita GDP, Sweden and Belgium will also be well ahead.
By 2039, the Maldives, which is now ranked 59th internationally at $38,859 per capita, is predicted to surpass all other South Asian nations in terms of GDP, followed by Bangladesh (123rd) and Bhutan (106th). Interestingly, Bangladesh is expected to overtake India, which is predicted to rank 124th in terms of per capita GDP, even though India would have grown to be the world’s third-largest economy by that point. Pakistan, on the other hand, is expected to finish last in South Asia, just below Nepal (160th) and Sri Lanka (134th), with a per capita GDP of 162nd. Bangladesh’s per capita GDP in 2024 is $2,521, placing it in 143rd place worldwide. Its ranking in per capita GDP by 2039, while being the 21st largest country, highlights the necessity of striking a balance between overall economic development and individual prosperity.
According to the CEBR analysis, the world’s GDP is projected to reach $110 trillion in 2024 and triple to $221 trillion by 2039. It seems probable that the United States will continue to surpass China as the greatest economy in the world. India continues to grow as a major economic force in the world. It is predicted to surpass Germany to become the third-largest economy by 2029, exceed Japan to become the fourth-largest by 2025, and surpass the $5 trillion mark by 2028. On the opposite end of the range, it is anticipated that the world’s smallest economies—Tuvalu (ranked 189th), Nauru (ranked 188th), Marshall Islands (ranked 187th), Kiribati (ranked 186th), and Palau (ranked 185th)—will not change their positions throughout the course of the next 15 years.
Source: The Business Standard
