World Economy

According to updated data from the International Monetary Fund, Bangladesh now has the world's 41st largest economy. Only two South Asian nations—Bangladesh and India—were ranked among the top 50 economies in the world. The world economy's $100 trillion was generated by the 50 largest economies, according to a number that has been visually represented and published by the Visual Capitalist using data from the IMF. Bangladesh's gross domestic product (GDP) was $397 billion this year, which amounted to 0.4% of the global figure.

Bangladesh's growth is expected to increase to 6.7 percent in fiscal year 2022–2023 (FY23), according to the World Bank's most recent Global Economic Prospects report, despite slowing down in the current FY22. According to a report released on Tuesday, the growth is expected to accelerate as pent-up demand soars, investments rebound, and remittance inflows increase as a result of higher growth in the Gulf nations, particularly Saudi Arabia and the United Arab Emirates. As per ADB and WB projection the BD economy will loom larger over Malaysia by the year 2028-29 and it may cross the economy contribution of Thailand(to World economy) by the year 2036 if the present upward ratios are maintained. 

Only Bhutan, one of the lowest contributors to the world GDP with a $3 billion GDP, was rated 163rd among the other South Asian nations. However, figures for other South Asian nations like Pakistan and Sri Lanka, which did not reach the top 50 list, were not available. The United States was still the economic leader worldwide, with a GDP of $25.3 trillion—making up nearly one quarter of the global economy. China followed close behind at $19.9 trillion. The frontrunner in Europe is Germany at $4.3 trillion, with the UK coming in second place.

Sources

• Dhaka Tribune
• World Bank 
• Visual Capitalist