The economy of Bangladesh is a major developing market economy.
As the second-largest economy in South Asia, Bangladesh’s economy is the 33rd largest in the world in nominal terms, and 25th largest by purchasing power parity. Bangladesh has been transitioning from being a frontier market into an emerging market. Bangladesh is a member of the South Asian Free Trade Area and the World Trade Organization. In fiscal year 2021-2022, Bangladesh registered a GDP growth rate of 7.2% after the global pandemic.
Bangladesh have two major industrial sectors includes textile and pharmaceuticals. Apart from it other industrial sectors include steel, electronic, leather etc. Shipbuilding and shipbreaking are also a growing industry in Bangladesh with great potential. Due to potential of shipbuilding in Bangladesh, the country has been compared to countries like China, South Korea and Japan. Bangladesh also has the world’s largest ship braking industry.
The Bangladesh construction market size valued at USD 28.55 billion in 2022 and is projected to reach USD 49.98 billion by 2031, expanding at a CAGR of 6.42% due to increasing urbanization and commercialization in the country.
Bangladesh is also doing good in other industries like agriculture, automotive, bicycle, glass, paper, plastic, food & beverages, cement, tea, rice, natural gas & crude petroleum, iron and steel.
Overall Bangladesh is one of the fastest growing economy and lot of potential for future business tie-ups, collaborations, manufacturing and doing businesses in the country.
