Bangladesh is likely to make the biggest jump in the global rankings of the size of the economies by the next 12 years, according to a long-term projection of the HSBC Global Research.
The country’s current global ranking of the Gross Domestic Product (GDP) is 42nd and it is set to become the 26th largest economy in the world by 2030, as per the projection.
Titled as ‘The World in 2030,’ the research report contains long-term projection for the current 75 top economies of the world.
“China is set to continue to be the single biggest contributor to global growth over the next decade and by 2030, will have become the world’s largest economy,” said the report.
“India is set to become the world’s third-largest economy in just over a decade, up from seventh today – leapfrogging the second- and third-largest developed economies of Germany and Japan,” it added.
Bangladesh is placed as one of the five fastest growing economies in Asia. Other countries are: India, Philippines, Pakistan and Vietnam.
But by jumping the biggest steps within a decade and two years, Bangladesh is set to replace Austria, which is now the 26th largest economy of the world, as per International Monetary Fund (IMF) estimation.
According to the HSBC projection, Bangladesh will outnumber Philippines, UAE, Malaysia, Pakistan, Austria, Nigeria, Ireland, Israel, Colombia, Hong Kong, Taiwan, South Africa Denmark, Singapore and Finland.