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The Economy of Bangladesh is characterised as a developing market economy. It is the 33rd largest in the world in nominal terms, and 31st largest by purchasing power parity. It is classified among the Next Eleven emerging market middle income economies and a frontier market. In the first quarter of 2019, Bangladesh's was the world's seventh fastest-growing economy with a rate of 8.3% real GDP annual growth. Dhaka and Chittagong are the principal financial centres of the country, being home to the Dhaka Stock Exchange and the Chittagong Stock Exchange. The financial sector of Bangladesh is the third largest in the Indian subcontinent. Bangladesh is one of the fastest growing economies in the world as well as the fastest growing economy in South Asia.