SOUTHEAST UNIVERSITY

School of Business Studies

Assignment
Topic- Assessing the economy of Bangladesh and comparing to the rest of the world.

Course Name- Socio-Economic Profile of Bangladesh.

Course Code- ECO1124
Section-05

Submitted By
Hasibul Hasan
ID-2018110000022

Submitted To
Najifa Tasneem Teesha
Lecturer
Southeast University

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Table of Content-

Serial Content Page No.

No.
01 Introduction 03
02 Historical Statistic 04
03 History of the economy before independence 05-06
04 History of the economy after independence 06
05 Economic Sectors 07-08
06 Macro-Economic trend of Bangladesh 09
07 GDP forecast of Bangladesh 10
08 Bangladesh VS Pakistan 11-13
09 Bangladesh VS India 14-17
10 Problems Bangladesh facing in economy Growth 18-20
11 Conclusion 21
12 Reference 22

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Introduction-
The economy of Bangladesh is a “Developing Economy Market”. It's the 39th largest in the
world in nominal terms, and 30th largest by purchasing power parity. Currently Bangladesh is
one of the world's fastest growing economy, and its financial sector is the second largest in the
Indian Subcontinent.

Current population is 162,650,853, and having a GDP rate of 7.9%. From 2004 average GDP
growth rate is 6.5%. Ready Made Garments industry is the largest player who drives the GDP.
Remittance and agriculture comes after it. Textile, pharmaceuticals, ship building and sea food,
jute, Leather industry are the main key of the developing economy. Telecommunication industry
also changed and developed in the last decade. Also it’s the seventh position holder in gas
producing between ASIA.

As of 2019, Bangladesh's GDP per capita income is estimated as per IMF data at US$5,028
(PPP) and US$1,906 (nominal). Bangladesh is a member of the D-8 Organization for Economic
Cooperation, the South Asian Association for Regional Cooperation, the International Monetary
Fund, the World Bank, the World Trade Organization and the Asian Infrastructure Investment
Bank. The economy faces challenges of infrastructure bottlenecks, insufficient power and gas
supplies, bureaucratic corruption, political instability, natural calamities and a lack of skilled
workers.

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Historical statistics-
After the liberation war Bangladesh changed its performance on economy. The economy of
Bangladesh developed very fast in the 1990s but still they lack or suffers in the foreign trade ,
inefficient “State owned enterprises”, unemployment are the main reason cause the labor power
is growing rapidly and one industry “Agriculture” can’t take all.

But now Bangladesh very much developed the climate for foreign trade and now the government
have negotiated with foreign companies for gas and oil exploration. Distribution of cooking gas ,
industrial gas.

Bangladesh received many foreign aid during floods and others reason, Foreign aid has seen a
gradual decline over the last few decades but economists see this as a good sign for self-reliance.
There has been a dramatic growth in exports and remittance inflow which has helped the
economy to expand at a steady rate.

Bangladesh has been on the list of UN Least Developed Countries (LDC) since 1975.
Bangladesh met the requirements to be recognized as a developing country in March, 2018.

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History of the economy before independence-
Ancient Bengal, Bengal Sultanate, Mughal Bengal British Bengal these are the four eras of the
economy of Bangladesh before independence.

1. Ancient Bengal
East Bengal—the eastern segment of Bengal—was a historically prosperous region. The
Ganges Delta provided advantages of a mild, almost tropical climate, fertile soil, ample
water, and an abundance of fish, wildlife, and fruit. The standard of living is believed to
have been higher compared with other parts of South Asia. As early as the thirteenth
century, the region was developing as an agrarian economy, Bengal was the junction of
trade routes on the Southeastern Silk Road.

2. Bengal Sultanate-
The economy of the Bengal Sultanate inherited earlier aspects of the Delhi Sultanate,
including mint towns, a salaried bureaucracy and the jagirdar system of land ownership.
The production of silver coins inscribed with the name of the Sultan of Bengal was a
mark of Bengali sovereignty. Bengal was more successful in perpetuating purely silver
coinage than Delhi and other contemporary Asian and European governments.
A vigorous riverine shipbuilding tradition existed in Bengal. The shipbuilding tradition is
evidenced in the sultanate's naval campaigns in the Ganges delta.
Due to the fertile land, there was an abundance of agricultural commodities, including
bananas, jackfruits, pomegranate, sugarcane, and honey. Native crops included rice and
sesame. Vegetables included ginger, mustard, onions, and garlic among others.

3. Mughal Bengal-
Under Mughal rule, Bengal operated as a centre of the worldwide muslin, silk and pearl
trades.[40] Domestically, much of India depended on Bengali products such as rice, silks
and cotton textiles. Overseas, Europeans depended on Bengali products such as cotton
textiles, silks and opium; Bengal accounted for 40% of Dutch imports from Asia.
During the Mughal era, the most important centre of cotton production was Bengal,
particularly around its capital city of Dhaka, leading to muslin being called "daka" in
distant markets such as Central Asia.

4. British Bengal-

The British East India Company, that took complete control of Bengal in 1793 by
abolishing Nizamat (local rule), chose to develop Calcutta, now the capital city of West
Bengal, as their commercial and administrative center for the Company-held territories in
South Asia. The development of East Bengal was thereafter limited to agriculture. The
administrative infrastructure of the late eighteenth and nineteenth centuries reinforced

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 East Bengal's function as the primary agricultural producer—chiefly of rice, tea, teak,
cotton, sugar cane and jute — for processors and traders from around Asia and beyond.

History of Economy after independence-

The economy after independence called as Modern Bangladesh. The partition of British India
and the emergence of India and Pakistan in 1947 severely disrupted the economic system. The
united government of Pakistan expanded the cultivated area and some irrigation facilities, but the
rural population generally became poorer between 1947 and 1971 because improvements did not
keep pace with rural population increase The lack of natural resources meant that East Pakistan
was heavily dependent on imports, creating a balance of payments problem.
Since Bangladesh followed a socialist economy by nationalizing all industries after its
independence, it underwent a slow growth of producing experienced entrepreneurs, managers,
administrators, engineers, and technicians. There were critical shortages of essential food grains
and other staples because of wartime disruptions Although Bangladesh had a large work force,
the vast reserves of under trained and underpaid workers were largely illiterate, unskilled, and
underemployed. Inflation, especially for essential consumer goods, ran between 300 and 400
percent.
The war of independence had crippled the transportation system. Hundreds of road and railroad
bridges had been destroyed or damaged, and rolling stock was inadequate and in poor repair. The
new country was still recovering from a severe cyclone that hit the area in 1970 and caused
250,000 deaths.
After 1975, Bangladeshi leaders began to turn their attention to developing new industrial
capacity and rehabilitating its economy. The static economic model adopted by these early
leaders
Bangladesh historically has run a large trade deficit, financed largely through aid receipts and
remittances from workers overseas.
In last decade, poverty dropped by around one third with significant improvement in human
development index, literacy, life expectancy and per capita food consumption. With economy
growing close to 6% per year, more than 15 million people have moved out of poverty since
1992.

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Economic Sectors-
1) Agriculture-
In the fiscal year 2018-19 , agriculture sector provided 13.32% into GDP. It’s the main
sector of our economy. Rice, Jute, Corn, Potato are the key crop. Because of Bangladesh's
fertile soil and normally ample water supply, rice can be grown and harvested three times
a year in many areas. Due to a number of factors, Bangladesh's labor-intensive agriculture
has achieved steady increases in food grain production despite the often unfavorable
weather conditions.
With 28.8 million metric tons produced in 2005–2006 (July–June), rice is Bangladesh's
principal crop. Underemployment remains a serious problem, and a growing concern for
Bangladesh's agricultural sector will be its ability to absorb additional manpower.

2) Manufacturing Industry-

Readymade garments factory is the main role player in this sector. It has created many
employment opportunity especially for woman,
By the late 1990s, about 1.5 million people, mostly women, were employed in the
garments sector as well as Leather products specially Footwear, During 2001–2002,
export earnings from ready-made garments reached $3,125 million, representing 52% of
Bangladesh's total exports. Bangladesh has overtaken India in apparel exports in 2009, its
exports stood at 2.66 billion US dollar, ahead of India's 2.27 billion US dollar and in
2014 the export rose to $3.12 billion every month.
Bangladesh's textile industry, which includes knitwear and ready-made garments (RMG)
along with specialized textile products, is the nation's number one export earner,
accounting for $21.5 billion in 2013 – 80% of Bangladesh's total exports of $27 billion
Bangladesh is 2nd in world textile exports, behind China, which exported $120.1 billion
worth of textiles in 2009. The industry employs nearly 3.5 million workers.
But Wages in Bangladesh's textile industry were the lowest in the world as of 2010 .

3) Shipbuilding and ship breaking-

Due to the potential of shipbuilding in Bangladesh, the country has been compared to
countries like China, Japan and South Korea.
Bangladesh also has the world's largest ship breaking industry which employs over
200,000 Bangladeshis and accounts for half of all the steel in Bangladesh. Chittagong
Ship Breaking Yard is the world's second-largest ship breaking area.
Khulna Shipyard Limited (KSY) with over five decades of reputation has been leading
the Bangladesh Shipbuilding industry and had built a wide spectrum of ships for
domestic and international clients. KSY built ships for Bangladesh Navy, Bangladesh
Army and Bangladesh Coast Guard under the contract of ministry of defense.

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4) Finance-
Until 1980s, the financial sector of Bangladesh was dominated by state-owned banks.[95]
With the grand-scale reform made in finance, private commercial banks were established
through privatization. The next finance sector reform programme was launched from
2000 to 2006 with focus on the development of financial institutions and adoption of risk-
based regulations and supervision by Bangladesh Bank. As of date, the banking sector
consisted of 4 SCBs, 4 government-owned specialized banks dealing in development
financing, 39 private commercial banks, and 9 foreign commercial banks.

5) Investment-
The stock market capitalization of the Dhaka Stock Exchange in Bangladesh crossed $10
billion in November 2007 and the $30 billion mark in 2009, and US$50 billion in August
2010. Bangladesh had the best performing stock market in Asia during the recent global
recession between 2007 and 2010, due to relatively low correlations with developed
country stock markets.

Major investment in real estate by domestic and foreign-resident Bangladeshis has led to
a massive building boom in Dhaka and Chittagong.

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Macro-Economic trend of Bangladesh-

The following chart shows the trend of Gross Domestic Product of Bangladesh between
year 1980 to 2019, By International Monetary Fund. With figures of Millions of
Bangladeshi Taka

Per
Gross Domestic Inflation Capita
US Dollar
Year Product Index Income
Exchange
(Million Taka) (2000=100) (as % of
USA)
1980 250,300 16.10 Taka 20 1.79
1985 597,318 31.00 Taka 36 1.19
1990 1,054,234 35.79 Taka 58 1.16
1995 1,594,210 40.27 Taka 78 1.12
2000 2,453,160 52.14 Taka 100 0.97
2005 3,913,334 63.92 Taka 126 0.95
2008 5,003,438 68.65 Taka 147
2015 17,295,665 78.15 Taka. 196 2.48
2019 26,604,164 84.55 Taka. 2.91

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GDP forecast of Bangladesh-

Current GDP of Bangladesh is 286.00 USD billions, which was achieved in 2019 and till
now this the recorded highest previously it was 274.03 billion USD. It is estimated that in
2020 GDP will reach 315.00 billion.
Also estimated by experts that at the end of 2022 it will reach 365.00 USD billions.

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Bangladesh VS Pakistan-
 Budget revenue- Bangladesh 14.03 USD billion and ranked 76th, Pakistan 27.48 USD
billion.

 Budget surplus or deficit- Bangladesh –4.7% of GDP, ranked 138 th. Pakistan -6.6% of
GDP, Ranked 155th.

 Exports- Bangladesh, $24.92 billion Ranked 68th. 1% more than Pakistan. Pakistan is
ranked 69th with $24.71 billion.

 GDP- Bangladesh $115.61 billion, Ranked 55th. Pakistan $231.18 billion Ranked 42nd.
Twice as much as Bangladesh

 GDP per capita- Bangladesh $1,384.53 per capita Ranked 157th. Pakistan $2,500.27 per
capita Ranked 133th. 81% more than Bangladesh

 GDP Per capita (purchasing power parity)- Bangladesh $1,715.79 Ranked 149th.
Pakistan $2,605.84, Ranked 135th. 52% more than Bangladesh.

 Gross National Income – Bangladesh $48.62 billion, Ranked 44th. With $60.05 billion,
Pakistan Ranked 39th. 24% more than Bangladesh.

 Inflation rate- Bangladesh 6.6%, Ranked 51st. Pakistan 9.7%, Ranked 26th. 47% more
than Bangladesh.

 Population below poverty line – Bangladesh 31.5%, Ranked 14th. 41% more than
Pakistan . Pakistan 22.3% Ranked 2nd.

 Public debt - Bangladesh 32.2% of GDP, Ranked 108th. Pakistan 52.1% of GDP.
Ranked 57th. 62% more than Bangladesh

 Unemployment rate- Bangladesh 5% Ranked 90th. Pakistan 6%, Ranked 74th. 20%
more than Bangladesh

 Overview-
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I. Bangladesh- In real terms Bangladesh's economy has grown 5.8% per year since
1996 despite political instability, poor infrastructure, corruption, insufficient
power supplies, and slow implementation of economic reforms. Bangladesh
remains a poor, overpopulated, and inefficiently-governed nation. Although more
than half of GDP is generated through the service sector, 45% of Bangladeshis are
employed in the agriculture sector with rice as the single-most-important product.
Bangladesh's growth was resilient during the 2008-09 global financial crisis and
recession. Garment exports, totaling $12.3 billion in FY09 and remittances from
overseas Bangladeshis, totaling $11 billion in FY10, accounted for almost 12% of
GDP.

II. Pakistan- Decades of internal political disputes and low levels of foreign
investment have led to slow growth and underdevelopment in Pakistan.
Agriculture accounts for more than one-fifth of output and two-fifths of
employment. Textiles account for most of Pakistan's export earnings, and
Pakistan's failure to expand a viable export base for other manufactures has left
the country vulnerable to shifts in world demand. Official unemployment is under
6%, but this fails to capture the true picture, because much of the economy is
informal and underemployment remains high. Over the past few years, low
growth and high inflation, led by a spurt in food prices, have increased the amount
of poverty - the UN Human Development Report estimated poverty in 2011 at
almost 50% of the population. Inflation has worsened the situation, climbing from
7.7% in 2007 to almost 12% for 2011, before declining to 10% in 2012. As a
result of political and economic instability, the Pakistani rupee has depreciated
more than 40% since 2007. The government agreed to an International Monetary
Fund Standby Arrangement in November 2008 in response to a balance of
payments crisis. Although the economy has stabilized since the crisis, it has failed
to recover. Foreign investment has not returned, due to investor concerns related
to governance, energy, security, and a slow-down in the global economy.
Remittances from overseas workers, averaging about $1 billion a month since
March 2011, remain a bright spot for Pakistan. However, after a small current
account surplus in fiscal year 2011 (July 2010/June 2011), Pakistan's current

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 account turned to deficit in fiscal year 2012, spurred by higher prices for imported
oil and lower prices for exported cotton. Pakistan remains stuck in a low-income,
low-growth trap, with growth averaging about 3% per year from 2008 to 2012.
Pakistan must address long standing issues related to government revenues and
energy production in order to spur the amount of economic growth that will be
necessary to employ its growing and rapidly urbanizing population, more than
half of which is under 22. Other long term challenges include expanding
investment in education and healthcare, adapting to the effects of climate change
and natural disasters, and reducing dependence on foreign donors.

Following chart shows comparison between Bangladesh and Pakistan in terms of GDP(1990-
2011)-

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Bangladesh VS India-
 Budget Revenues – Bangladesh, $14billion, Ranked 76th. India $172.10 billion,
Ranked 23th. 12 times more than Bangladesh.

 Budget surplus or deficit – Bangladesh, -4.7% of GDP, Ranked 138th. India

-5% of GDP, Ranked 143th. 6% more than Bangladesh.

 Exports- Bangladesh, $24.92 billion, Ranked 68th. India, $301.90 billion,

Ranked 19th. 12 times more than Bangladesh

 GDP- Bangladesh, $115.61 billion, Ranked 55th. India $1.84 trillion, Ranked
11th. 16 times more than Bangladesh.

 GDP Per capita- Bangladesh, $1,384.53 per capita, Ranked 157th. India,
$2,625.09 per capita, Ranked 130th. 90% more than Bangladesh.

 GDP-Purchasing power parity per capita- Bangladesh, $1,715.79, Ranked

149th. India, $3,355.94, Ranked 126th. 96% more than Bangladesh.

 Gross National Income- Bangladesh, $48.62 billion, Ranked 44th. India,

$477.00 billion, Ranked 12th. 10 times more than Bangladesh.

 Inflation rate – Bangladesh, 6.6%, Ranked 51st. India, 9.7%, Ranked 25th. 47%
more than Bangladesh

 Population below poverty line- Bangladesh, 31.5%, Ranked 14th. 6% more than
India. India, 29.8%, Ranked 19th.

 Public debt- Bangladesh, 32.2% of GDP, Ranked 108th. Bangladesh, 51.7% of

GDP, Ranked 61st. 61% more than Bangladesh.

 Unemployment rate- Bangladesh 5%, Ranked 90th. India, 8.5%, Ranked 46th.
70% more than Bangladesh.

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 Overview-

I. Bangladesh-

In real terms Bangladesh's economy has grown 5.8% per year since
1996 despite political instability, poor infrastructure, corruption,
insufficient power supplies, and slow implementation of economic
reforms. Bangladesh remains a poor, overpopulated, and
inefficiently-governed nation. Although more than half of GDP is
generated through the service sector, 45% of Bangladeshis are
employed in the agriculture sector with rice as the single-most-
important product. Bangladesh's growth was resilient during the
2008-09 global financial crisis and recession. Garment exports,
totaling $12.3 billion in FY09 and remittances from overseas
Bangladeshis, totaling $11 billion in FY10, accounted for almost
12% of GDP.

II. India-

India is developing into an open-market economy, yet traces of its

past autarkic policies remain. Economic liberalization measures,
including industrial deregulation, privatization of state-owned
enterprises, and reduced controls on foreign trade and investment,
began in the early 1990s and have served to accelerate the
country's growth, which averaged under 7% per year since 1997.
India's diverse economy encompasses traditional village farming,
modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work
force is in agriculture, but services are the major source of
economic growth, accounting for nearly two-thirds of India's
output, with less than one-third of its labor force. India has
capitalized on its large educated English-speaking population to
become a major exporter of information technology services,
business outsourcing services, and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis
- in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's

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economic growth began slowing in 2011 because of a slowdown in
government spending and a decline in investment, caused by
investor pessimism about the government's commitment to further
economic reforms and about the global situation. High
international crude prices have exacerbated the government's fuel
subsidy expenditures, contributing to a higher fiscal deficit and a
worsening current account deficit. In late 2012, the Indian.
Government announced additional reforms and deficit reduction
measures to reverse India's slowdown, including allowing higher
levels of foreign participation in direct investment in the economy.
The outlook for India's medium-term growth is positive due to a
young population and corresponding low dependency ratio, healthy
savings and investment rates, and increasing integration into the
global economy. India has many long-term challenges that it has
yet to fully address, including poverty, corruption, violence and
discrimination against women and girls, an inefficient power
generation and distribution system, ineffective enforcement of
intellectual property rights, decades-long civil litigation dockets,
inadequate transport and agricultural infrastructure, limited non-
agricultural employment opportunities, inadequate availability of
quality basic and higher education, and accommodating rural-to-
urban migration.

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Following two chart shows annual GDP growth of Bangladesh and India-

 Bangladesh(2010-2019)-

 India (July2017- January2020)-

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Problems Bangladesh facing in economy Growth-
 SLOW ECONOMIC GROWTH OF BANGLADESH

Bangladesh is one of the unfortunate countries of the world with a per capita income of
US $ 300. Bangladesh economy has grown by over 4.5 per year in factual terms since the
middle of 1970s. With residents growth of around 2% annually per capital incomes has
risen by 2.5% per year. Also employment has been not capable to keep up with increase
in the labor force. Poverty continuous to be widespread, with extra than 50% of the
population estimated to be living below the poverty line. Its people have a life
expectation of 58 years. Mortality rate of the children under 5 in Bangladesh is one of the
premiers in the world. About 60 percent of the children experience moderate to severe
malnutrition and the societies in general suffer from endemic health problems.
Approximately 53 percent of the population is illiterate. The major economic problems
which faced by the Bangladesh are inflation, price stability, stability of democratic
institution, level of socioeconomic development, low unemployment of resources,
economic performance and so on.

 TROUBLE FACING BY BANGLADESH-

 Inflation-
Higher price of products in international market happens from previous two or three
years. The following are the explanations for higher price of products as well as
decreasing the purchasing power of general people. Destructive activities of dishonest
syndicates of the period of union (BNP-Jamat) government. Other than that, the investors
are not financing in the country and showing signal that production will decrease in near
future. For this reason, businessmen are not selling their products, storing products and
creating scarcity of products to earn more money.

 Currency and Price Stability-

The government has endeavored to control inflation. Since the 1990s the average
inflation rate has been about 5.6%, remarkably low related to the second half of the
1980s, when the rate was about 8%. Inflation averaged 7.2% in fiscal year 2007,
primarily due to rises in both food and nonfood prices. Among the main sources were
domestic demand pressures, fed by higher incomes and strong monetary and credit
evolution. However, after June of the same year, escalating international commodity
prices, especially for food, were dominant, driving inflation to 11.4% (year on year) in
January 2008. Near the end of fiscal year 2008 food prices diluted, thus allowing point-
to-point inflation to drop to 7.5% percent in May.

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 Stability of Democratic Institutions-
In principle, democratic institutions perform their functions. But the absence of a
governmental culture of tolerance and compromise has prevented the proper functioning
of democratic institutions. A key essential impediment to the institutionalization of
democracy is the concentration of power, whether in the hands of one or two party
leaders, in the case of parties, or one or two offices such as the prime ministers office for
the state apparatus. In addition, political interference, patronage networks and widespread
exploitation have weakened the foundations of these institutions. The major political
parties and civic associations accept democratic establishments as the legitimate political
order. The main potential veto players are radical Islamist groups and parties that want to
replace the democratic system with an Islamic state. The army, as an institution, has
accepted the management of elected governments thus far, although it wants to further its
corporate interests and views itself as guardian of the state.

 Low Unemployment of Resources-

On the employment side, the overall employment intensity of economic growth, as well
as the employment elasticity with respect to GDP growth, is reported to be low and
diminishing. With an employment elasticity of 0.495 (during 1990s), and employment
growth of 4.4 percent (same as labor force growth), not counting current unemployment
and under employment, the country would require a GDP growth of 8.89 percent per
year. The lower the elasticity from the observed ones, the higher would have to be the
growth rate to absorb the surf. On the other hand, the transformation of the employment
configuration has been from agriculture in the direction of the services sectors rather than
towards the manufacturing sector. Whatever employment has taken place is mostly in the
informal sector; leading to non- formalization of the economy plus labor. It indicates the
magnitude of employment tasks that Bangladesh is faced with low employment of
resources.

 Level of Socioeconomic Development-

In the face of an uninterrupted period of high growth in recent years, socioeconomic
development has not been an unambiguous boon for the majority of the residents.
According to the most recent figures, 40.0% of the population lives under the poverty
line. UNDP figures indicate that 41.3% of the population lives on less than $1 a day, with
84.0% living on less than $2 a day. Female economic doings accounts for 52.7% of the
economy, but females earn less than half the income of their male counterparts. Rural
areas still lack basic health care conveniences and educational institutions. Thirty percent
of the total population is still regarded as undernourished. Only 39% of the population
had sustainable access to improved sanitation in 2004. Minorities and women are
disproportionately affected by structural underdevelopment.

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 Economic Performance

Bangladesh economic performance in fiscal year 2008 showed considerable resilience,

although global economic challenges and domestic natural disasters. Two devastating
floods and a cyclone, as well as a tidal wave, hit the country in the first half of fiscal year
2008. The combined loss was expected at $2.8 billion, or about 4% of GDP. Yet the
country’s economy maintained a performance consistent with earlier years. In the years
under review, the momentum for growth sustained and international reserves increased
despite severe import pressures. Overall GDP growth rates were high. The GDP growth
rate was 6.5% in 2007 2008. Rising inflation, high levels of underemployment, and
budget and trade deficits continued the main concerns for the economy. Strong growth in
overseas workers remittances has delivered a cushion to the external balance.

The economic growth and inspiring gains in several social indicators over the past decade
point to Bangladesh enormous potential. These achievements have been made despite
poor governance, an adverse domestic political environment, deficiency of infrastructure
and repeated natural calamities. However, these accomplishments cannot be sustained for
lengthy if the political leadership fails to address deep-seated problems. There is four
issues warrant attention and action. First, a qualitative change in the political culture is
required. The acrimonious politics, with utter disregard for national interests, has cost the
nation dearly in recent decades. It is evident from the past two years (2007 and 2008) that
reforms in major associations, including political parties, can facilitate this
transformation. Constant efforts with clear objectives and well-devised strategies can
bear results. This effort must be initiated from within, but external support is imperative
for its success. Secondly, political violence as well as militancy must be addressed
comprehensively. The sources of extremism need to be identified and addressed, a task as
important in place of confrontation of the militants.

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Conclusion-
The country of Bangladesh is a developing economy. World average, however, is small
but lower than India and Pakistan. Ranked of the world 48 largest economy country. Its
grows lots of domestic foods. In the last few years, they make lots of different foods.
Bangladeshis employed becoming a half or more then are in the agriculture sector, with
RMG, they like to fish, vegetables, leather and leather goods, ceramics, as like
importance product as world want rice .

Agriculture, RMG, Pharmaceuticals, ship building are the key sectors government should
give importance and they should solve every problem these sectors facing, distributing
needed power supply, industrial gas , so that they can do more production. If these sectors
can perform more than they can give more GDP to the economy. If these sectors can
perform strong then economy of Bangladesh will be stronger not only in southern Asia
but also in the entire world.

Government have to solve every problem including unemployment, more employment in

the sectors means more GDP. More GDP means more strong economy.

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 Reference-

 https://en.wikipedia.org/wiki/Economy_of_Bangladesh#References
 www.assignmentpoint.com
 www.nationmaster.com
 tradingeconomics.com
 www.indexmundi.com
 www.ukessays.com
 www.powershow.com

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