Dhaka, Bangladesh (BBN)– Bangladesh is likely to be the 30th largest economy of the world by 2030 when its gross domestic product (GDP) will be US$ 1 trillion and per capita income US$ 4,000.
This was visualized by the Dhaka Chamber of Commerce and Industry (DCCI) while giving a visual presentation titled “Strategy for Growth” in connection with its Conference on Bangladesh 2030 that was inaugurated this morning by Prime Minister Sheikh Hasina at a city hotel on Tuesday.
Bangladesh’s present size of economy is US$ 141 billion ((fiscal 2009) while the per capita income is US$ 925.
The DCCI said Bangladesh can aspire to become the 30th largest economy by 2030 if it accelerates its development activities by fast-tracking into the higher investment trajectory by grabbing its large low-cost advantages.
It said the recent phenomenal economic development of China has created “new opportunities” as China’s competitiveness in low-cost production base will diminish which will create scopes for investment elsewhere.
Subsequently, investors will be looking for attractive destination with low-cost productive base that will put Bangladesh in an ideal position as the “Next Investment Destination”.
The DCCI estimates, if average 5.5 percent growth rate remains at the same level, the GDP by 2030 would be $274,098 million with per capita income of $1,542, a medium growth rate of 7.0 percent may yield GDP of $368,692 million and per capita income of $ 2075 while if a medium high growth rate of 8 percent can be attained, the GDP will be $448,233 million with per capita income of $2,517.
Again, if the country can attain a high growth rate of 10 percent, the GDP will enhance to US$ 658,948 with per capita income of US$ 3,701. However, if everything goes well and the nation can attain a very ambitious and high growth of 12 percent, the GDP by 2030 will stand at US$ 962,018 with per capital income of US$ 5,403.
BBN/SI/AD-08Dec10-11:13 am (BST)
