GDP ANALYSIS OF

BANGLADESH
Submitted by: Md. Fahimul Islam Shahel
Country Information
 Bangladesh is a country located in South Asia with a population of over 160 million people.
 GDP data from 2014 to 2023:
GDP Increase in Bangladesh
2014: $195.07 billion
450

2015: $209.09 billion 400

2016: $221.42 billion 350

300
2017: $249.72 billion

GDP (in billion $)

250

2018: $274.32 billion 200

2019: $302.47 billion 150

100
2020: $317.81 billion
50
2021: $349.11 billion 0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
2022: $369.53 billion Year

2023: $389.27 billion

 Highest export: Garments and textiles
 Highest import: Petroleum and petroleum products
 Change in GDP Over 10 Years
 The GDP of Bangladesh has shown substantial growth over the 10-year period.
 GDP Data:
2014: $195.07 billion
2023: $389.27 billion
To assess the change in GDP, we'll calculate the percentage increase over the 10-
year period using the following formula:
Percentage Change in GDP = (Final GDP – Initial GDP)/Initial GDP
= 99.62%
Drivers for change
 Expansion of the garments and textiles industry, which is a significant
contributor to exports.

 Government initiatives to attract foreign investment and promote export-

oriented industries.

 Growth in the agriculture sector, particularly in rice production.

 Infrastructure development projects funded by both domestic and

international sources.
 Changes in GDP per Capita
 GDP per Capita Calculation:
GDP per Capita = GDP/Population
GDP per Capita % Change= [(Final GDP per Capita−Initial GDP per Capita)/Initial GDP per Capita] ×100
 Calculated GDP per capita:
2014: $1,203 GDP per capita Increase in Bangladesh
2015: $1,278 2,500
2016: $1,342
2017: $1,489 2,000

GDP per capita (in $)

2018: $1,629 1,500
2019: $1,788
2020: $1,865 1,000

2021: $2,033
500
2022: $2,139
2023: $2,244 0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
 GDP per Capita % Change= 99.96% Year
​

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 Observations
 The percentage change in GDP (99.62%) is very close to the percentage change in
GDP per capita (99.96%) over the period from 2014 to 2023.

 This indicates that the growth in GDP has been distributed relatively evenly among
the population, resulting in a proportional increase in GDP per capita.

 It suggests that the economic growth in Bangladesh has been inclusive, with
improvements in overall economic prosperity benefiting the population at large.

 This observation is significant as it indicates that economic growth has not only
increased the total output of the country but has also led to an increase in the
average income or standard of living for individuals.

 The close alignment between GDP growth and GDP per capita growth suggests that
Bangladesh's economic growth has been relatively equitable, with benefits reaching
a broad section of the population rather than being concentrated among a few.
 GDP Outlook
 Bangladesh has demonstrated consistent economic growth over the past
decade, with GDP steadily increasing from 2014 to 2023.

 This growth can be attributed to various factors, including the expansion of

export-oriented industries such as garments and textiles, agricultural
development, and infrastructure investments.

 Despite challenges, Bangladesh's economy has exhibited resilience,

positioning the country as one of the fastest-growing economies in the region.
GDP Outlook (Contd.)
 Bangladesh's GDP is projected to continue its upward trajectory in the
foreseeable future.

 Anticipated growth is fueled by ongoing investments, export diversification

efforts, and infrastructure enhancements.

 The country's favorable demographics, including a large and youthful

workforce, present opportunities for sustained economic expansion and
development.

The GDP outlook for Bangladesh remains optimistic, with expectations of

continued growth and economic progress driven by strategic initiatives and
favorable demographic trends.
 Conclusions
I have learned some key features about the economic structure of Bangladesh:
 Diversification of Economy: Bangladesh has demonstrated remarkable economic
growth over the past decade, driven by a diversified economic structure.

 Export-Led Growth Strategy: The country's export-oriented growth strategy,

particularly in the garments and textiles sector, has been instrumental in driving
economic expansion.

 Infrastructure Development: Significant investments in infrastructure, including

transportation, energy, and telecommunications, have supported economic
development and facilitated trade.

 Resilience to Challenges: Despite facing challenges such as natural disasters,

political instability, and global economic uncertainties, Bangladesh has
demonstrated resilience and adaptability.
 Conclusion(Contd.)
 Future Opportunities: Looking ahead, Bangladesh is well-positioned to
capitalize on emerging opportunities, including technological advancements,
regional integration, and demographic dividends.

 Inclusive Growth: The close alignment between GDP growth and GDP per
capita growth indicates that economic gains have been relatively inclusive,
benefiting a broad section of the population.

In conclusion, the substantial increase in GDP in Bangladesh over the 10-year

period can be attributed to a combination of factors, including robust economic
growth initiatives, export-led growth, agricultural development, remittance
inflows, and infrastructure investments. These efforts have contributed to
sustained economic expansion and improved living standards for the population.
References
1. World Bank. (n.d.). World Development Indicators Database. Retrieved from
https://databank.worldbank.org/source/world-development-indicators

2. International Monetary Fund. (n.d.). World Economic Outlook Database. Retrieved from
https://www.imf.org/en/Publications/WEO/weo-database/2023/April

3. Bangladesh Bank. (n.d.). Trade Statistics. Retrieved from

https://www.bb.org.bd/econdata/tradeindex.php

4. Ministry of Commerce, Bangladesh. (n.d.). Trade Reports and Publications. Retrieved from
https://mincom.portal.gov.bd/site/page/bc855f49-ff5d-42bb-b76c-1cf64858db0e

5. Bangladesh Bureau of Statistics. (n.d.). Population Census. Retrieved from

http://www.bbs.gov.bd/site/page/6956ad34-fd2e-4c6a-b757-1b6ed9779b6e

6. United Nations. (n.d.). World Population Prospects: The 2022 Revision. Retrieved from
https://population.un.org/wpp/