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Loefstrand highlights Bangladesh as another frontier market to watch over the next decade . He points to its export growth , which has been significantly faster than its emerging market peers since 2013 . “ Bangladesh ’ s wages became more competitive as China ’ s wage growth became very high ,” he says . “ It is taking market share from China . Low-cost manufacturing is migrating to countries like Bangladesh , particularly in the garment space .” According to World Bank data , Bangladesh ’ s literacy rate increased from 47 per cent in 2007 to 74 per cent in 2019 , while GDP per capita grew from $ 702 in 2009 to $ 1,856 in 2019 . “ Bangladesh is now the secondlargest manufacturer of garments in the world , after China . It has an extensive labour force , which is well educated , and this drives the urbanisation story ,” Johnstone adds .

TRUSTNET