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Thursday, May 19, 2022

Bangladesh’s GDP to surpass Denmark, Singapore, Hong Kong by 2025

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Bangladesh’s economy is projected to reach USD 516.24 billion in the fiscal 2024-25, outperforming advanced economies such as Denmark, Singapore and Hong Kong along the way, says the International Monetary Fund (IMF).

Denmark is expected to have a GDP of USD 484.38 billion at the current dollar value in 2025, while Singapore and Hong Kong will see their economies reach USD 461.51 billion and USD 452.10 billion, respectively.

The forecast was revealed in the IMF’s World Economic Outlook database on Tuesday (19).

Approaching a USD 500 billion+ economy, Bangladesh would also surpass Norway (USD 497.55 billion), the Philippines (USD 506.66 billion) and even the oil-rich United Arab Emirates (USD 480.03 billion) by 2025.

According to the Bangladesh Bureau of Statistics (BBS), Bangladesh’s GDP was USD 355 billion in FY21, up from USD 323 billion in the previous fiscal year.

Meanwhile, the IMF forecasted 6.54% real GDP growth for Bangladesh in the current fiscal year, which is expected to reach 7.2% in FY25.

With a current population of nearly 17 crore, Bangladesh’s GDP per capita is projected to hit USD 2,994.46 in 2025, while Norway and Denmark will have a much higher GDP per capita, at USD 89,679.84 and USD 81,950.18, respectively.

Singapore and Hong Kong’s GDP per capita will reach USD 79,169.49 and USd 59,126.85 respectively.

Meanwhile, it is projected that Sri Lanka’s GDP in 2025 would reach to USD 101.44.

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