$677b Bangladesh economy in sight
Bangladesh’s economy could grow to around $677 billion by 2030, potentially putting the country ahead of Malaysia, Vietnam and Thailand in terms of gross domestic product (GDP), according to projections by the International Monetary Fund (IMF).
The forecast was highlighted in a report titled The $150 Trillion Global Economy in 2030, published by Canada-based media outlet Visual Capitalist, based on IMF projections.
According to the projections, Bangladesh’s GDP is expected to reach $677 billion by 2030.
Malaysia’s economy is forecast to expand to $672.5 billion, while Vietnam, Thailand and Denmark are projected to reach $667.5 billion, $647.5 billion and $589.2 billion, respectively.
If the projections materialise, Bangladesh would move ahead of these economies in terms of nominal GDP, marking a significant shift in its position in the global economic rankings.
The IMF forecast comes as Bangladesh seeks to sustain economic growth while dealing with persistent inflation, pressure on foreign exchange reserves and other macroeconomic challenges.
US to remain largest economy
The United States is projected to remain the world’s largest economy in 2030, with its GDP expected to reach about $37.7 trillion.
China will retain the second position, with its economy forecast to expand to around $26 trillion.
The race for third place is expected to be particularly close. IMF projections suggest that Germany and India could be separated by only about $5 billion in 2030, with their GDPs estimated at $6,178 billion and $6,173 billion, respectively.
The United Kingdom is projected to rank next, with a GDP of $5,148 billion.
Five countries are expected to account for 53.3 per cent of global GDP by 2030, with the US alone contributing more than a quarter of the world economy.
Japan, France, Brazil, Italy and Canada are also projected to remain among the world’s 10 largest economies.
Global economy to exceed $150tn
The IMF has forecast continued expansion of the global economy over the next five years.
Its World Economic Outlook projects that the global economy could expand by roughly $25 trillion between 2026 and 2030.
The combined size of the world economy is consequently expected to exceed $150 trillion by 2030.
For Bangladesh, the projection points to the country’s continued rise in the global economic hierarchy, although the extent to which the forecast is realised will depend on its ability to maintain growth and address domestic economic pressures.
