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The economy of Bangladesh

Bangladesh is a low-income country. But it has a stable economy. Bangladesh has the second most ‘pro-capitalist population’ in the developing world to give another boost to the economy. Between 2004 and 2014 the average GDP growth rate was 6%. Now it is over 6.5%. Since independence in 1971 the economy of Bangladesh has made a gradual progress. Now Bangladesh is considered as part of the Next Eleven Emerging Market and one of the Frontier Five. Before 1980, the economy was largely dependent on jute and jute products. From 1990s onward, textile, garment, pharmaceuticals, shipbuilding ceramics, leather goods and electronics came forward. Beximco, ACI, Square Group are the market leaders. And today, the economy of Bangladesh is led by export-oriented industrialization including the garment industry and the textile industry. Garment industries contribute the most. Up to 6-8% of the total growth of the country comes from the sector. Now, there are more than 5000 garment industries acro...