Aaron O'Neill
Research lead for society, economy, and politics: Europe & global
Get in touch with us nowGross domestic product (GDP) in Bangladesh 2029
The gross domestic product (GDP) of Bangladesh grew to 446.35 billion U.S. dollars in 2023. This is an increase of about 253 billion U.S. dollars since 2014, and this growth is projected to continue at least until 2029.
Contributing factors
Bangladesh is largely an export economy with a consistently negative trade balance. Much of its exports are manufactured goods, most notably garments. These goods are labor-intensive, and Bangladesh’s low wages make the country an attractive target for foreign direct investment.
What does this mean for the Bangladeshi people?
Bangladesh has a large population, roughly twice that of Germany. As such, GDP per capita is still low compared to global averages. However, a rapid increase in GDP per capita usually indicates a higher level of development, driving increases in many aspects of the people’s lives. For example, a more developed health care system leads to a considerably lower infant mortality rate. In a wider sense, this means lifting millions of people out of poverty.
Contributing factors
Bangladesh is largely an export economy with a consistently negative trade balance. Much of its exports are manufactured goods, most notably garments. These goods are labor-intensive, and Bangladesh’s low wages make the country an attractive target for foreign direct investment.
What does this mean for the Bangladeshi people?
Bangladesh has a large population, roughly twice that of Germany. As such, GDP per capita is still low compared to global averages. However, a rapid increase in GDP per capita usually indicates a higher level of development, driving increases in many aspects of the people’s lives. For example, a more developed health care system leads to a considerably lower infant mortality rate. In a wider sense, this means lifting millions of people out of poverty.
