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Economy of Bangladesh vs Uganda compared: GDP & Debt

Updated on by Georank team

Bangladesh has a GDP of $450B compared to $53.7B for Uganda, ranking 36/197 and 89/197 by economy size, respectively.

Bangladesh has $181B in government debt (40.3% of GDP), compared to $27.8B (54% of GDP) in Uganda.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Bangladesh
GDP, current $

GDP, constant 2015 $
Uganda
GDP, current $

GDP, constant 2015 $
Year GDP
Bangladesh Uganda
Current $ Constant $ Current $ Constant $
1960 $4,274,894,083 $22,255,159,274 $423,145,605 -
1961 $4,817,580,375 $23,603,412,615 $441,667,335 -
1962 $5,081,413,542 $24,890,514,015 $449,158,233 -
1963 $5,319,458,563 $24,777,039,582 $516,315,231 -
1964 $5,386,054,833 $27,490,816,336 $589,247,687 -
1965 $5,906,636,792 $27,932,389,835 $884,502,310 -
1966 $6,439,687,854 $28,649,361,770 $925,381,492 -
1967 $7,253,575,688 $28,111,938,729 $967,240,655 -
1968 $7,483,685,771 $30,779,608,228 $1,037,379,252 -
1969 $8,471,006,438 $31,155,383,509 $1,168,556,629 -
1970 $8,992,722,167 $32,906,270,044 $1,259,554,809 -
1971 $8,751,843,188 $31,103,176,562 $1,417,191,656 -
1972 $6,288,245,867 $26,756,903,051 $1,490,970,181 -
1973 $8,086,725,729 $27,646,752,078 $1,701,829,789 -
1974 $12,512,460,520 $30,298,616,456 $2,098,944,967 -
1975 $19,448,348,073 $29,059,944,148 $2,359,555,556 -
1976 $10,117,113,333 $30,705,132,551 $2,447,300,000 -
1977 $9,651,149,302 $31,525,897,955 $2,936,470,588 -
1978 $13,281,767,143 $33,755,988,820 $2,420,260,870 -
1979 $15,565,480,322 $35,376,828,059 $2,139,025,000 -
1980 $18,138,049,096 $35,666,614,469 $1,244,610,000 -
1981 $20,249,694,002 $38,246,717,278 $1,337,300,000 -
1982 $18,525,399,202 $39,063,027,611 $2,177,500,000 $4,983,495,459
1983 $17,609,048,822 $40,579,081,838 $2,240,333,333 $5,269,775,231
1984 $18,920,840,000 $42,528,220,940 $3,615,647,477 $5,251,611,545
1985 $22,278,423,077 $43,949,520,316 $3,519,695,444 $5,077,973,311
1986 $21,774,033,333 $45,783,701,931 $3,923,244,050 $5,097,781,822
1987 $24,298,032,258 $47,510,847,151 $6,269,522,042 $5,299,750,982
1988 $26,579,005,558 $48,658,831,252 $6,508,931,652 $5,737,885,293
1989 $28,781,715,189 $50,039,078,964 $5,276,480,799 $6,102,926,184
1990 $31,598,340,778 $52,852,405,165 $4,304,399,310 $6,498,038,179
1991 $30,957,483,950 $54,694,431,891 $3,321,729,160 $6,858,945,425
1992 $31,708,874,594 $57,671,277,832 $2,857,457,762 $7,093,408,658
1993 $33,166,519,418 $60,388,495,685 $3,220,439,044 $7,684,026,613
1994 $33,768,660,883 $62,737,684,523 $3,990,430,447 $8,176,083,687
1995 $37,939,748,769 $65,950,655,693 $5,755,818,842 $9,118,233,745
1996 $46,438,484,108 $68,933,550,573 $6,044,585,327 $9,945,450,358
1997 $48,244,309,133 $72,028,595,646 $6,269,333,313 $10,452,668,512
1998 $49,984,559,471 $75,757,535,399 $6,584,815,847 $10,965,399,652
1999 $51,270,569,884 $79,295,530,764 $5,998,563,258 $11,848,547,280
2000 $53,369,787,319 $83,492,876,906 $6,193,246,837 $12,220,817,656
2001 $53,991,289,844 $87,732,050,538 $5,840,503,869 $12,854,303,430
2002 $54,724,081,491 $91,094,928,770 $6,178,563,591 $13,976,829,356
2003 $60,158,929,188 $95,412,434,317 $6,606,884,275 $14,881,585,674
2004 $65,108,544,250 $100,411,600,214 $7,939,487,548 $15,894,609,936
2005 $69,476,001,239 $106,974,447,116 $9,239,221,763 $16,901,146,461
2006 $71,795,736,172 $114,111,680,586 $9,977,647,683 $18,723,891,905
2007 $79,611,644,975 $122,166,366,936 $11,902,564,495 $20,299,025,449
2008 $91,636,997,371 $129,513,195,397 $14,440,404,132 $22,066,817,214
2009 $102,475,158,191 $136,047,297,736 $25,127,805,567 $23,567,695,615
2010 $115,275,540,051 $143,627,564,998 $26,673,441,431 $24,896,350,765
2011 $128,607,482,310 $152,912,195,328 $27,871,725,241 $27,234,530,260
2012 $133,310,747,603 $162,884,301,114 $27,305,915,911 $28,279,643,268
2013 $149,998,957,434 $172,679,520,662 $28,915,786,517 $29,294,007,440
2014 $172,886,611,654 $183,145,728,910 $32,612,397,257 $30,789,849,488
2015 $195,146,608,978 $195,146,608,978 $32,387,183,730 $32,387,183,730
2016 $265,224,515,675 $209,028,320,491 $29,203,988,696 $33,935,615,079
2017 $293,732,446,625 $222,803,809,377 $30,744,473,841 $34,998,276,802
2018 $321,362,752,442 $239,111,739,541 $32,927,025,620 $37,204,541,497
2019 $351,231,654,604 $257,958,323,969 $35,353,061,008 $39,600,047,064
2020 $373,979,442,362 $266,852,772,254 $37,600,368,240 $40,768,765,796
2021 $416,271,647,911 $285,368,829,855 $40,529,788,744 $42,210,585,953
2022 $460,131,689,083 $305,629,528,154 $45,565,333,216 $44,147,216,890
2023 $437,415,333,018 $323,279,976,841 $48,768,955,859 $46,503,341,915
2024 $450,119,424,622 $336,932,927,922 $53,651,874,314 $49,356,997,179

Economic indicators

Bangladesh Uganda
Gross domestic product
$450B
2024
$53.7B
2024
GDP rank
36/197
2024
89/197
2024
GDP growth
2.9%
2023-2024
10%
2023-2024
GDP per capita
$2,593
2024
$1,073
2024
GDP per capita rank
146/197
2024
173/197
2024
GDP per capita, PPP
$9,647
2024
$3,276
2024
Government debt
$181B
2024
$27.8B
2024
Debt-to-GDP ratio
40.3%
2025
54%
2025
Government debt per person
$1,041
2024
$556
2024
Government debt per person rank
140/185
2024
162/185
2024
Average annual personal income after taxes
$2,159
2025
$1,648
2025
Market capitalization of domestic companies
$87.9B
2024
n/a
Income share by richest 10%
25.5%
2022
34.5%
2019
Income share by poorest 10%
3.7%
2022
2.4%
2019
Government expenditure, % of GDP
13%
2025
21.4%
2025
Consumer prices inflation
10%
2024-2025
3.8%
2024-2025
Central bank interest rate
10%
2024
9.75%
2024
Unemployment rate
3.35%
2023
3.42%
2021
Population
177398795
52490669

GDP per capita in Bangladesh vs Uganda

Bangladesh's GDP per capita is $2,593, ranking 146/197, compared to $1,073 in Uganda, ranking 173/197. Adjusted for purchasing power (GDP per capita PPP), Bangladesh ranks 134th at $9,647, while Uganda ranks 175th at $3,276.

Bangladesh
GDP per capita

GDP per capita, PPP
Uganda
GDP per capita

GDP per capita, PPP
Year Current $
Bangladesh Uganda
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $82.5 - $55.4 -
1961 $90.4 - $56.2 -
1962 $92.6 - $55.5 -
1963 $94.1 - $62 -
1964 $92.6 - $68.6 -
1965 $98.6 - $100 -
1966 $104.4 - $101.4 -
1967 $114.2 - $102.8 -
1968 $114.4 - $106.9 -
1969 $125.9 - $116.7 -
1970 $130.2 - $122 -
1971 $124.5 - $133.5 -
1972 $87.8 - $137 -
1973 $109.7 - $152.7 -
1974 $165 - $183.7 -
1975 $249.8 - $201.2 -
1976 $126.7 - $203.3 -
1977 $117.9 - $237.6 -
1978 $158.3 - $190.7 -
1979 $181.1 - $164.5 -
1980 $206.1 - $93.8 -
1981 $224.2 - $98.6 -
1982 $199.6 - $157 -
1983 $184.7 - $157.5 -
1984 $193.4 - $247.5 -
1985 $222.2 - $234.3 -
1986 $212.1 - $253.6 -
1987 $231.5 - $393 -
1988 $247.9 - $395 -
1989 $263 - $310 -
1990 $283.1 $941 $245 $666
1991 $272.1 $987 $183 $703
1992 $273.5 $1,045 $152.1 $719
1993 $280.8 $1,099 $165.6 $770
1994 $280.6 $1,145 $198.4 $809
1995 $309 $1,206 $278.5 $897
1996 $372 $1,261 $284.7 $969
1997 $379 $1,315 $286.8 $1,007
1998 $386 $1,373 $292.5 $1,037
1999 $388 $1,430 $257.9 $1,100
2000 $397 $1,512 $258.1 $1,124
2001 $395 $1,598 $236 $1,173
2002 $394 $1,659 $242 $1,255
2003 $427 $1,746 $250.7 $1,320
2004 $456 $1,862 $292.4 $1,405
2005 $480 $2,020 $330 $1,497
2006 $490 $2,195 $347 $1,660
2007 $538 $2,388 $401 $1,795
2008 $613 $2,555 $473 $1,931
2009 $679 $2,675 $799 $2,015
2010 $757 $2,834 $823 $2,092
2011 $837 $3,051 $836 $2,268
2012 $860 $3,434 $795 $2,032
2013 $958 $3,691 $818 $2,045
2014 $1,094 $3,973 $896 $2,134
2015 $1,224 $4,212 $863 $2,190
2016 $1,649 $4,579 $753 $2,165
2017 $1,811 $4,883 $765 $2,158
2018 $1,965 $5,490 $792 $2,312
2019 $2,130 $6,047 $822 $2,441
2020 $2,249 $6,641 $846 $2,532
2021 $2,483 $7,441 $883 $2,685
2022 $2,716 $8,451 $963 $2,919
2023 $2,551 $9,148 $1,002 $3,098
2024 $2,593 $9,647 $1,073 $3,276

Spending and national debt comparison

In 2024, Bangladesh's government spending was $54.3B, accounting for 13% of its GDP, while Uganda's spent $11B, or 21.4% of GDP.

Debt-to-GDP ratio is 40.3% in Bangladesh and 54% in Uganda, ranking 134/185 and 100/185, respectively.

Bangladesh
Government spending

Government debt
Uganda
Government spending

Government debt
Year % of GDP
Bangladesh Uganda
Government spending Government debt Government spending Government debt
1990 9.14% 31.5% - -
1991 8.86% 31.8% - -
1992 8.8% 33.1% - -
1993 9.74% 34.1% - -
1994 10% 35.5% - -
1995 10.5% 32.9% - -
1996 9.79% 31% - -
1997 9.89% 29.1% 13.9% 44.2%
1998 9.82% 31.1% 14% 45.1%
1999 8.66% 32.7% 14.7% 47.7%
2000 9.76% 31.2% 15.2% 48.5%
2001 10.7% 37.1% 16.2% 51.4%
2002 10.4% 38.9% 16.8% 54.7%
2003 10.2% 37% 16.5% 55.1%
2004 9.88% 36.6% 15.6% 49%
2005 10.3% 35.6% 14.5% 42.6%
2006 10.1% 35.3% 13.7% 27.8%
2007 9.63% 35% 13.2% 17%
2008 11.5% 33.9% 12.9% 15.7%
2009 10.6% 33% 11.8% 14.8%
2010 10.6% 29.6% 15.4% 18.4%
2011 11.5% 29.4% 13.2% 18%
2012 11.7% 29.1% 13.1% 19.5%
2013 12.1% 28.3% 13.3% 22.1%
2014 11.7% 28.7% 13.6% 24.8%
2015 11.5% 28.2% 14.9% 28%
2016 11.6% 27.7% 15.2% 31.3%
2017 12.2% 28.3% 16.3% 33.6%
2018 13% 29.6% 16.2% 34.9%
2019 13.6% 32% 18.3% 37.5%
2020 13.3% 34.5% 21.4% 46.3%
2021 12.9% 35.6% 21.4% 50.3%
2022 13% 37.9% 20.2% 50.2%
2023 12.7% 39.3% 19% 50.2%
2024 12.1% 40.1% 20.5% 51.8%
2025 13% 40.3% 21.4% 54%

Government deficit by year

In 2024, Bangladesh's government deficit, the difference between spending and revenue, was -$17B, equivalent to -3.79% of GDP. This compares to Uganda's deficit of -$3.14B, or -5.85% of GDP.

Over the past 28 years, Bangladesh recorded a fiscal deficit in 28 of those years, while Uganda ran a deficit in 27 years. On average, Bangladesh posted an annual deficit equal to -3.02% of GDP, compared to deficit of -2.72% of GDP for Uganda.

Deficit/surplus
Bangladesh

Uganda
Year Deficit/surplus, % of GDP
Bangladesh Uganda
1990 -0.15% -
1991 0.44% -
1992 0.36% -
1993 0.43% -
1994 0.03% -
1995 -0.38% -
1996 -2.01% -
1997 -1.94% -0.83%
1998 -2.2% -0.7%
1999 -1.35% -1.24%
2000 -2.5% -0.62%
2001 -3.44% -0.99%
2002 -2.3% -2.07%
2003 -1.96% -0.97%
2004 -2.21% 0.34%
2005 -2.4% -0.17%
2006 -2.15% -0.64%
2007 -1.86% -0.82%
2008 -3.36% -1.99%
2009 -2.68% -1.61%
2010 -2.23% -4.64%
2011 -2.96% -2.04%
2012 -2.56% -2.39%
2013 -2.86% -3.19%
2014 -2.62% -2.74%
2015 -3.29% -2.59%
2016 -3.16% -2.64%
2017 -4.17% -3.83%
2018 -4.07% -3.02%
2019 -5.41% -4.82%
2020 -4.84% -7.76%
2021 -3.56% -7.44%
2022 -4.12% -5.96%
2023 -4.51% -4.86%
2024 -3.79% -5.85%
2025 -4.12% -6.7%

Inflation comparison by year

Over the past 30 years, Bangladesh has recorded an average annual inflation rate of 6.55%, compared with 6.05% in Uganda. In 2025, inflation was 10% in Bangladesh and 3.8% in Uganda.

Inflation
Bangladesh

Uganda
Year Inflation
Bangladesh Uganda Bangladesh Uganda
1996 6.8% 7.5%
1997 2.7% 7.7%
1998 6.7% 5.8%
1999 8.9% 5.8%
2000 3.6% 3.4%
2001 1.8% 1.9%
2002 2.4% -0.3%
2003 3.9% 8.7%
2004 8.1% 3.7%
2005 6.5% 8.6%
2006 7.2% 7.2%
2007 7.2% 6.1%
2008 9.9% 12%
2009 6.7% 13%
2010 7.3% 4%
2011 8.8% 18.7%
2012 8.9% 14%
2013 6.8% 5.5%
2014 7.3% 4.3%
2015 6.4% 3.7%
2016 5.9% 5.2%
2017 5.4% 5.6%
2018 5.8% 2.5%
2019 5.5% 2.1%
2020 5.6% 2.8%
2021 5.6% 2.2%
2022 6.1% 7.2%
2023 9% 5.4%
2024 9.7% 3.3%
2025 10% 3.8%

Top exports between countries

Bangladesh
Export category Export value
Textiles & consumer goods $32.5M
Machinery & equipment $842K
Chemicals & pharma $326K
Animal & marine products $181K
Miscellaneous $44K
Wood & paper products $29K
Uganda
Export category Export value
Textiles & consumer goods $5.67M
Raw agricultural goods $271K
Precious metals & jewellery $51K
Animal & marine products $13K
Metals $1K

Balance of trade

Bangladesh Uganda
Current account balance
$1.87B
2024
-$4.2B
2024
Current account balance ranking
45/189
2024
161/189
2024
Current account balance, % of GDP
+0.42%
2024
-7.83%
2024
Goods imports
$63.8B
2024
$11.7B
2024
Goods exports
$47.3B
2024
$8.67B
2024
Service imports
$11.3B
2024
$4.31B
2024
Service exports
$6.66B
2024
$2.39B
2024
Imports of goods and services, % of GDP
16.3%
2024
24.6%
2024
Exports of goods and services, % of GDP
10.5%
2024
16.9%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Bangladesh Uganda
Economic freedom 54.7 51.3
Economic freedom ranking 134/197 154/197
Property rights 36.5 47.4
Government integrity 23.3 24.1
Judicial effectiveness 27.9 29.2
Tax burden 82.6 73.6
Government spending 95 87.7
Fiscal health 70.2 35.5
Business freedom 53.9 50.3
Labor freedom 47.4 54.8
Monetary freedom 67.1 75.1
Trade freedom 62.2 57.4
Investment freedom 50 40
Financial freedom 40 40

Economic freedom by year comparison

The Economic Freedom Index for Bangladesh is 54.7, ranking 134/197, compared to 51.3 for Uganda, ranking 154/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Bangladesh
Uganda
Year Economic freedom index
Bangladesh Uganda
1995 40.9 62.9
1996 51.1 66.2
1997 49.9 66.6
1998 52 64.7
1999 50 64.8
2000 48.9 58.2
2001 51.2 60.4
2002 51.9 61
2003 49.3 60.1
2004 50 64.1
2005 47.5 62.9
2006 52.9 63.9
2007 46.7 63.1
2008 44.2 63.8
2009 47.5 63.5
2010 51.1 62.2
2011 53 61.7
2012 53.2 61.9
2013 52.6 61.1
2014 54.1 59.9
2015 53.9 59.7
2016 53.3 59.3
2017 55 60.9
2018 55.1 62
2019 55.6 59.7
2020 56.4 59.5
2021 56.5 58.6
2022 52.7 54.2
2023 54.4 51.4
2024 54.4 50.7
2025 54.7 51.3

More economic indicators

Bangladesh Uganda
Services, % of GDP
51.4%
2024
43.1%
2024
Industry, % of GDP
34.1%
2024
24.9%
2024
Agriculture, forestry, and fishing, % of GDP
11.2%
2024
24.7%
2024
GNI, Atlas method
$490B
2024
$50.9B
2024
GNI per capita, PPP
$10,060
2024
$3,200
2024
Total reserves including gold
$21.4B
2024
$3.36B
2018
Total reserves ranking
61/177
2024
114/177
2018
Net foreign direct investment
-$1.51B
2024
-$3.3B
2024
Net inflows of foreign direct investment
$1.51B
2024
$3.3B
2024
Net outflows of foreign direct investment
-$2.07M
2024
$400K
2024
Servicing debt to the IMF, % of GNI
1.64%
2023
4.99%
2023
Poverty at national poverty lines
18.7%
2022
20.3%
2019
Gross capital formation, % of GDP
30.7%
2024
22.3%
2024

GDP per capita map

GDP per capita

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.