The market-based economy of Bangladesh is the 32nd largest in the world by purchasing power parity and is classified among the Next Eleven emerging market economies. It is the largest economy in the Bengal region and the third-largest in South Asia. According to the IMF, Bangladesh’s economy is the second fastest growing major economy of 2016, with a rate of 7.1%.
The financial sector of Bangladesh is the second largest in the subcontinent.
In the decade since 2004, Bangladesh averaged a GDP growth of 6.5% that has been largely driven by its exports of ready-made garments, remittances and the domestic agricultural sector. The country has pursued export-oriented industrialization, with its key export sectors include textiles, shipbuilding, fish and seafood, juteand leather goods. It has also developed self-sufficient industries in pharmaceuticals, steel and food processing. Bangladesh’s telecommunication industry has witnessed rapid growth over the years, receiving high investment from foreign companies.
GDP $223.941 billion (nominal; 2016)
$620.279 billion (PPP; 2016)
GDP rank 44th (nominal) / 32nd (PPP) (2016)
GDP growth 7.1% (2016 est.)
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