Economic Status Of Bangladesh

Chapter One: Introduction

1. Introduction

1.1 A synopsis of Economic Status of Bangladesh

Bangladesh came into being as an independent nation on 16 December 1971. Till then, she was the province of East Pakistan of erstwhile Pakistan and after a bloody war of liberation for nine months, which began on 26 March and ended with a glorious victory on 16 December the same year, it became a sovereign country. Bangladesh inherited a poor, un-diversified economy, characterized by an under-developed infrastructure, stagnant agriculture and a rapidly growing population. She had suffered from years of colonial exploitation and missed opportunities with weakening effects on initiative and enterprise. Moreover, the devastating effects of the liberation

Because of better income level of common people, domestic demand is growing and driving economy activity. Manufacturing has been gradually starting to take control in the country as major economies of the world are gradually losing their competitiveness. Bangladesh has now become as an important manufacturing base for textile products, pharmaceuticals, finished leather, light and medium industries IT and ship building. World trade was severely disturbed by the global discrimination in resent past with export of most countries rejecting sharply. The export of Bangladesh has shown a promising growth. Bangladesh has appeared as the second largest exporter in the world apparel market and is also increasingly exporting finished leather and leather goods, frozen foods, jute and jute goods, pharmaceutical products, light engineering and Small Ocean going vessels. In 2014-2015 Bangladesh has earned US$ 31.2 billion in export, while at the corresponding periods the country registered import bills of US$ 38.5 billion. Most of the imported items are petroleum products, capital goods and industrial raw

The country’s GDP per capita was USD 23,300 in 1999, reflecting Canadian workers' high wages compared to many other countries. The Prospects of positive economic performance continued because of its highly skilled and productive workforce. In 1999, there were 15.9 million people in Canada's workforce, and the rate of jobless people was of 7.6 percent, which was almost twice the American rate.

Canadians, like Americans, tend to have high levels of disposable income. This disposable income drives the Canadian economy toward positive growth as consumers enjoy their smart wages on a variety of products and services. The spending patter creates demand for increased production and the development of new products, which in turn create more and better-paying jobs. Another similarity with the United States is that, advertising has a major impact on spending pattern of Canadian consumers. Television, in Canada, is the most popular source of