According to the annual report, Banglades4h is likely to become a $1 trillion economy in 20 years if the country maintains an annual GDP growth of 5%. The total economy of the nation currently is $416 billion.
Despite the threat of being overshadowed by China and India, Bangladesh stands among the crowd. Bangladesh had a higher CDP than India in the year 2021. BCG attributes the growth to the rise in consumers, the upper class and lower class in the majority, innovations in emerging sectors, and the workforce being young and enthusiastic.
Bangladesh was a low-middle-income nation up til 2015. The annual GDP recorded from 2016 – 2022 was 6.4 percent which exceeds India, Vietnam, and the Philippines. Bangladesh is now set to become an upper-middle-income country. It is also expected to become the ninth-largest consumer market in the world by 2040.