The Gross Domestic Product (GDP) in Bangladesh expanded 7.11 percent in 2016 from the previous year. This indicator has been discontinued and replaced by Bangladesh GDP Annual Growth Rate. Bangladesh GDP Growth Rate - data, historical chart, and calendar of releases - was last updated on February of 2020 from its official source.
GDP Growth Rate in Bangladesh averaged 5.69 percent from 1994 until 2016, reaching an all time high of 7.11 percent in 2016 and a record low of 4.08 percent in 1994. This page provides - Bangladesh GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Bangladesh Bank
GDP Growth Rate in Bangladesh is expected to reach 7.50 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Bangladesh GDP Growth Rate is projected to trend around 7.20 percent in 2021 and 7.30 percent in 2022, according to our econometric models.
Bangladesh GDP Growth Rate
Bangladesh is considered as a developing economy. Yet, almost one-third of Bangladesh’s 150m people live in extreme poverty. In the last decade, the country has recorded GDP growth rates above 5 percent due to development of microcredit and garment industry. Although three fifths of Bangladeshis are employed in the agriculture sector, three quarters of exports revenues come from producing ready-made garments. The biggest obstacles to sustainable development in Bangladesh are overpopulation, poor infrastructure, corruption, political instability and a slow implementation of economic reforms.