Bangladesh GDP

The economy of Bangladesh is constituted by that of a developing country.[2] Its per capita
income in 2008 was est. US$1,500 (adjusted by purchasing power parity). According to the
International Monetary Fund, Bangladesh ranked as the 48th largest economy in the world in
2009, with a gross domestic product of US$256 billion. The economy has grown at the rate of 67% p.a. over the past few years. More than half of the GDP belongs to the service sector; nearly
half of Bangladeshis are employed in the agriculture sector, with RMG, fish, vegetables, leather
and leather goods, ceramics, rice as other important produce.
Remittances from Bangladeshis working overseas, mainly in the Middle East are the major
source of foreign exchange earnings; exports of garments and textiles are the other main sources
of foreign exchange earnings. GDP's rapid growth due to sound financial control and regulations
has also contributed to its growth. However, foreign direct investment is yet to rise significantly.
Bangladesh has made major strides in its human development index.
The land is devoted mainly to rice and jute cultivation of rice, fruits and produces, although
wheat production has increased in recent years; the country is largely self-sufficient in rice
production. Bangladesh's growth of its agro industries is due to its rich deltaic fertile land that
depends on its six seasons and multiple harvests.
Improving at a very fast rate, infrastructure to support transportation, communications, power
supply and water distribution are rapidly developing. Bangladesh is limited in its reserves of oil,
but recently there was huge development in coal mining. The service sector has expanded rapidly
during last two decades, the country's industrial base remains positive. The country's main
endowments include its vast human resource base, rich agricultural land, relatively abundant
water, and substantial reserves of natural gas, with the blessing of possessing the two worlds only
natural sea ports in Mongla and Chittagong, in addition to being the only central port linking two
large burgeoning economic hub groups SAARC and ASEAN.
Bangladesh is believed to have performed well over the years as far as the indicators are
concerned. Economic growth rate crossed the 6 percent mark in recent years from a
feeble 4 percent or below in the 1980s and 5 percent plus in the second half of the 1990s.
Under a business as usual scenario, reaching the target of 7 percent growth rate does not
seem to be too difficult. By and large, the per-capita income grew roughly at 4 percent
per year in a regime of falling population growth rate.

Bangladesh real GDP growth rate

Bangladesh is the youngest country in the South Asian region. Following the launching of a series of
comprehensive stabilization measures, the economy of Bangladesh mostly restored both robust economic
growth and macro-economic stability in early 1990s from the backdrop of the deep macro-economic
crisis of the period since independence (Bhattacharaya, 2004). In particular, the economy has experienced
accelerated economic growth during the early 1990s in comparison with the 1980s. However, after that
period, the economy experienced most severe exigency states like increasing inflationary pressures,
deteriorating governments budgetary balances and decreasing foreign exchange reserves (Mahmud,
1997).
During the first half of the 1980s the country experienced a double-digit episode of inflation while the
growth rate of GDP was below 4-percent level as illustrated in Figure 1. The GDP growth rate
declined moderately during the second half of 1980s when inflation rate gradually decreased to
below 8-percent. However, a moderate rate of inflation and an increasing rate of GDP growth are
observed throughout the 1990s. Throughout the first half of the 1990s, inflation rate was, on
average, 5.37 percent, while GDP growth rate was 4.06 percent. Although inflation rate increased,
on average, to 5.52 percent in the second half of the 1990s, the growth rate of GDP continued to
increase. The increasing trend of inflation rate during the latter half of 1990s had been corrected
since the beginning of the new decade after 1990s and was observed at 4.14 percent, on average,
during 2001 to 2005, when growth rate of GDP was, on average, 5.19 percent.