Bangladesh is a developing country with a large population. But the country is developing rapidly. The GDP growth is maintain a steady rate of 5.5% throughout the last five years. That is a clear indication that Bangladesh is developing and moving in the right direction.
In earlier days, Bangladesh was dependent largely on agriculture and natural resources such as coal, gas, hard rock and silicon. But in recent years business sector has come up. The main sectors which are booming includes ready-made garments, textiles, cotton, jute, paper, newsprint, tea, chemical fertilizer, cement, sugar and light engineering. Among all these sectors ready-made garments sectors has emerged as the biggest earner of foreign currency. Next sector is tea. These two sectors are contributing significantly in GDP growth. Besides ready-made garments products and tea, Bangladesh is also exporting leather and leather products, seafood, urea fertilizer, ceramic products, staple fibers, paper, raw jute and jute products, ceramic products and furnace oil.
Although Bangladesh has vast agriculture resources, due to lack of modern technology and patronage the agriculture sector can not contribute significantly in the economy of this country. But in recent years government and many private companies are showing interest in agricultural sector. The people of Bangladesh can hope to see a tremendous success in agriculture in coming years.
Contribution of big private companies of Bangladesh including Beximco Group, ACI, Square Group, Pran Group, Walton is also giving the economy a boost. These companies are creating new markets, creating employment opportunities and improving lifestyle of common people.
It’s a fact of regret that still Bangladesh is dependent on importing on both consumer items and raw materials. For this Bangladesh is experiencing a huge trade deficit. The main business partners of Bangladesh on both export and import are the U.S, Japan, India, Australia, China, Malaysia, Indonesia, Hong Kong, South Korea, Taiwan, UAE and Saudi Arabia. Some European countries including Germany and France are also in the list. Due to cheap labor force and low manufacturing cost, a lot of foreign investments are coming to Bangladesh.
Bangladesh’s business sector is expanding day by day. Frozen food, tourism, power sector, telecommunication have the potential to emerge as the main business sector of Bangladesh in near future. Bangladesh has the potential to become one of the most influential countries of Asia. Within next 10 years, it is expected that Bangladesh is be a economic power house in the region.
In earlier days, Bangladesh was dependent largely on agriculture and natural resources such as coal, gas, hard rock and silicon. But in recent years business sector has come up. The main sectors which are booming includes ready-made garments, textiles, cotton, jute, paper, newsprint, tea, chemical fertilizer, cement, sugar and light engineering. Among all these sectors ready-made garments sectors has emerged as the biggest earner of foreign currency. Next sector is tea. These two sectors are contributing significantly in GDP growth. Besides ready-made garments products and tea, Bangladesh is also exporting leather and leather products, seafood, urea fertilizer, ceramic products, staple fibers, paper, raw jute and jute products, ceramic products and furnace oil.
Although Bangladesh has vast agriculture resources, due to lack of modern technology and patronage the agriculture sector can not contribute significantly in the economy of this country. But in recent years government and many private companies are showing interest in agricultural sector. The people of Bangladesh can hope to see a tremendous success in agriculture in coming years.
Contribution of big private companies of Bangladesh including Beximco Group, ACI, Square Group, Pran Group, Walton is also giving the economy a boost. These companies are creating new markets, creating employment opportunities and improving lifestyle of common people.
It’s a fact of regret that still Bangladesh is dependent on importing on both consumer items and raw materials. For this Bangladesh is experiencing a huge trade deficit. The main business partners of Bangladesh on both export and import are the U.S, Japan, India, Australia, China, Malaysia, Indonesia, Hong Kong, South Korea, Taiwan, UAE and Saudi Arabia. Some European countries including Germany and France are also in the list. Due to cheap labor force and low manufacturing cost, a lot of foreign investments are coming to Bangladesh.
Bangladesh’s business sector is expanding day by day. Frozen food, tourism, power sector, telecommunication have the potential to emerge as the main business sector of Bangladesh in near future. Bangladesh has the potential to become one of the most influential countries of Asia. Within next 10 years, it is expected that Bangladesh is be a economic power house in the region.
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