May 4, By Mohammad Saiful Islam Reply More During the end of last fiscal year, we have seen huge gap between GDP target and actual achievement, declining inflation rate, increasing export, growing foreign exchange reserve, declining subsidy requirement, high interest government deficit financing, declining foreign direct investment, declining private sector investment, increasing default rate, increasing liquidity and some ADP targets achievement. In this article, I have shown the sector wise analysis of the present economic situation and future prospects. The sectors comprise of banking sector, GDP growth, inflation rate, investment, government revenue and expenditure, foreign exchange reserve, import, export etc.
It has border with Myanmar Burma to the south-east and also surrounded by the Bay- of- Bangle to the South. Bangladesh got independence in from Pakistan through the liberation war. Bangladesh is an inhabitant of more than million people with in The economy of Bangladesh is agricultural driven.
Due to soil fertility and ample supply of water, having the blessing of thousands of rivers and its branches zigzagging nationwide, Bangladesh can harvest three crops every year. Apart from the fact that cyclones and floods damage crops every year, the production of crops meets substantial local consumption demand but are not grown sufficiently enough for export purposes.
Labor-intensive manufacturing is the second sector, specially Figure 1: The third sector which contributes greatly to the economy of the nation is the export of manpower which brings remittances by Bangladeshi workers working abroad, such as in Middle-East, Singapore, Malaysia, etc.
Current Macroeconomic Scenario of Bangladesh Despite the global economic crisis, Bangladesh economy has not only managed to sustain sound and resilient but also developed a strong base with many far-reaching activities and appropriate policy responses during the last four years.
Major indicators of macro economy namely GDP, import-export, remittance inflows and foreign exchange reserves showed substantial upward trend. Inflation is also in a declining trend due to prudent monetary policy stance of Bangladesh Bank.
The current status of some major economic factors are described below to explain the economic development of Bangladesh; i Gross Domestic Product GDP: With a developing economy, Bangladesh has similar problems like that of any other developing area in the world.
Since poverty is prevalent in order to improve the quality of its inhabitants, both economical and social problems need to be addressed.
The government of Bangladesh is seeking development through the betterment of the economical situation of the country, hoping it will lead to an improvement in the social situation as well. The following table depicts the GDP of Bangladesh year by year.
Bangladesh is the world's largest producer of jute and other main crops include; rice, tea, wheat, sugarcane and tobacco. However, the fact that cyclones and floods damage crops every year makes it difficult to produce enough for export purposes.
This sector was declared a priority by the government due to its importance to food self-sufficiency and to the sustainable development of the country. The private sector has been playing a meaningful active role in the country's economy while the public sector has been focusing more on the physical and social infrastructure, which has been leading Bangladesh to industrial and service growth.
Annual real GDP growth of 5. Average GDP growth rate over the last four years has been 6. The following graph describes the year wise GDP growth rate of Bangladesh.
Year wise growth rate of Bangladesh from to The following figure also shows the upward trend of the economic growth rate of Bangladesh since to Year GDP per capita US 1, 1, 1, 1, 1, 2, 2, 2, 1, 1, 1, 1, 1, Dollar The graph below shows the fluctuation of per capita GDP from to Learn more about the Bangladesh economy, including the population of Bangladesh, GDP, facts, trade, business, inflation and other data and analysis on its economy from the Index of Economic.
The present volume titled Recent Inflation in Bangladesh: Trends, Determinants and Impact on Poverty captures the findings of two recent studies, completed under the Independent Review of Bangladesh's Development (IRBD) programme, by the Centre for Policy Dialogue (CPD) on inflation in grupobittia.comcturer: Centre for Policy Dialogue.
Bangladesh holds rate, targets % inflation mid The central bank of Bangladesh held its benchmark repurchase rate steady at percent, along with the reverse repo at percent, and urged commercial banks to come up with ways to reduce their lending rates which have not come down along with inflation.
Jun 10, · BANGLADESH, Dhaka: As part of a series related to the UN conference opening next Tuesday on World Food Security: the Challenges of Climate Change and .
May 06, · There are two reasons for the recent rise in inflation around the world. Firstly, the robust growth of the developing world — particularly the large economies of India and China — has been causing rapid rises in demand for food and energy commodities.
Bangladesh Economic Outlook August 21, An early estimate released by the Bureau of Statistics showed that the economy grew at the fastest pace in nine years in FY , which ended in June.