International Monetary Fund (IMF) has published its data on the world's largest economies. Bangladesh is now at number 41 on this list. India is another country in the top 50 list. Bangladesh and India are the only south Asian countries present on this list. Data showcases that the 50 largest economies all together account for the $100 trillion world economy.
India retained its position as the sixth largest economy in the world. Bangladesh moved up a place from 42 last year to 41 this year. The latest projection from IMF expects the global economy to reach about $104 trillion by the end of 2022.
US is the economic leader, with a $25.3 trillion GDP – nearly one-quarter of the global economy. Next is China with $19.9 trillion. The top economy in the EU belongs to Germany with a GDP of $4.3 trillion, Bangladesh’s GDP according to IMF stood at $397 billion this year.
According to the World Bank data, GDP per capita for developing countries in 2022 will be 5% below the pre-pandemic level. The Russian economy is expected to decline by 8.5% in 2022, though the cost of war, as well as the impact of harsh global sanctions, remains unclear.
Global annual GDP growth for 2022 was projected to be 4.4% but now it has been adjusted to 3.6%. War, supply chain bottlenecks, and rising inflations are responsible for the global downward trend in GDP.