With a fast-growing middle class of more than 30 million people and a resilient economy expected to exceed 7% growth, Bangladesh is one of the fastest-growing markets in Asia. The country represents an emerging frontier for growth that has invested deeply in empowering women in the workforce, leveraged development of physical and digital infrastructure, and improved access to better health and education outcomes.
With its young, dynamic workforce—the median age is likely to remain under 40 till 2050—business stands to thrive across sectors. At the heart of the Indo-Pacific, Bangladesh stands to become a global trade hub with a focus on becoming a developed country by 2041.
The country is increasingly a digital-connected nation of mobile and internet users that boasts a growing global diaspora, one of the world’s largest communities of IT freelancers and solar energy workers, and a diversifying manufacturing ecosystem. Bangladesh’s GDP per capita has grown by almost 650% in the last two decades.
In Bangladesh, American businesses are committed to diversifying product lines and providing access to global products, services, and technology that can support Bangladesh’s path to becoming a developed country by 2041.
Many American businesses are working with local partners to design community-based projects that support inclusion, food security, marine conservation, occupational safety, robust medical care for women, encourage economic mobility of women, and are committed to supporting small and medium businesses in their growth. This includes more venture capital investing in Bangladeshi startups and private equity investments to spur the next generation of economic development and partnership.
Key Points
- The U.S. is the single largest market for Bangladeshi goods globally and the largest source of foreign direct investment, primarily in the power and energy, banking, and insurance sectors.
- Approximately $1 billion in American agriculture exports were to Bangladesh in 2020, with a 135% increase since 2011.
- The country's installed electricity generation capacity is set to increase to 40,000 megawatts by 2030, with a target of generating 40% of total energy from renewable energy sources.
- Bangladesh has the 5th largest internet user population in Asia-Pacific.
- The country is expected to become the 26th largest economy in the world, with the 9th largest consumer market, by 2030.
