ISAS Briefs

The recent declaration by the United Nations that Bangladesh is eligible to graduate out of Least Developed Countries (LDC) group is a watershed moment in the nation’s history. When Bangladesh achieved independence in 1971, many doubted the future of the country. It was dubbed as an economic basket case by some. From that situation, the country has made great strides – a complete economic turnaround. Today, Bangladesh is the 32nd largest economy in the world, with a gross domestic product of US$220 billion (S$295.5 billion), export volume of US$35 billion (S$47 billion) and a foreign currency reserve of over US$33 billion (S$44.3 billion), which is the second highest in South Asia. It is now a politically stable, economically sound and socially thriving country.