The Bangladesh economy has secured 44th position globally jumping 14 steps ahead as per the current prices of Gross Domestic Product (GDP) buoyed by healthy and persistent growth in the last few years.
In 2015, the size of the country’s GDP expanded to $205.3 billion, which was $149.99 billion in 2013 at the 58th position.
Besides, based on the purchasing power parity 2015, Bangladesh also upgraded its position by three steps, occupying 33rd place from 36th place in 2013.
Planning Minister AHM Mustafa Kamal disclosed this before the meeting of the Executive Committee of the National Economic Council (ECNEC) on Tuesday.
Prime Minister Sheikh Hasina presided over the meeting held at the NEC conference room in the city’s Sher-e-Bangla Nagar.
Ministry of Planning prepared the report “Bangladesh is moving ahead, the latest position of Bangladesh in the global economic arena,” basing it on the information of the World Development Indicators database, World Bank, April 2015 and the IMF World Economic Outlook (WEO), April 2015.
The Planning Minister said they want to move ahead with a smooth pace in terms of project implementation in the next year and subsequent years utilising the resources properly.
The statistics showed Bangladesh is still ahead of countries like Vietnam, Kazakhstan, Portugal, Qatar, New Zealand and Peru as per the current prices of GDP.
According to the GDP based on current prices of 2015, the United States is in the lead position, with a GDP size of $18,124.70 billion followed by China with a GDP size of $11,211.90 billion, Japan with a GDP size of $4,210.40 billion, Germany with a GDP size of $3,413.50 billion and United Kingdom with a GDP size of $2,853.40 billion.
Based on the 2013 prices, Bangladesh’s economy was at 58th place with a GDP size of $149.99 billion.
Commenting on the report, Prime Minister Sheikh Hasina said: “We have been maintaining over 6% GDP growth for the last six years, which is a great achievement for the country, and all of the people of the country have contributed to the achievement.”
“We’ve to pull the country’s economy ahead through the effective management of the resources we have … and I hope the existing trend of economic development would boost it further.”
Considering GDP based on purchasing power parity 2015, Bangladesh has upgraded its position with a ranking of 33 with a GDP size of $572.4 billion ahead of Algeria, Vietnam, Iraq, Venezuela, Belgium and Switzerland.
However, as per the GDP based on purchasing power parity 2013, the position of Bangladesh in global economics was at 36 with GDP size of $461.644 billion ahead of Switzerland, Sweden, Singapore, Ukraine, Hong Kong and Qatar.
Source: Dhaka Tribune