Economic Condition of Bangladesh Essay

п»їBangladesh made remarkable improvement in macroeconomic management. Speed of monetary growth, gradual decline of budget debt, high level of export and importance growth, regular rise of foreign currency arrange at an effective level are a few of the major successes that Bangladesh attained in the past few years till FY2007-2008. Accomplishment in attaining these significant milestones is largely attributable to a collection of policies and reforms implemented in order to attain macroeconomic stableness accompanied by acceleration of financial growth. With continued monetary growth Bangladesh Economy has established itself on solid foundation.

Macro- economical condition of Bangladesh (FY 2012-2013)

Source: Printed in The Impartial (CPD worries fall in actual GDP growth), Bangladesh Bureau of Statistics, Bangladesh Traditional bank

Macro- monetary condition of Bangladesh (FY 2011-2012)

Macro- financial condition of Bangladesh (FY 2010-2011)

Macro- monetary condition of Bangladesh (FY 2009-2010)

Macro- monetary condition of Bangladesh (FY 2008-2009):

Trend research of GROSS DOMESTIC PRODUCT of Bangladesh (2009-2014)

During last five years continued growth has resulted in attainment of GDP growth above 6%. Despite global economic recession during 2008-2009, Bangladesh managed their economy amazingly well and maintained their growth impetus. Against the background of several limitations, the most important challenge in the country is always to maintain large performing expansion through increasing production, minimizing human low income through enhancing creativity and human capacity, stabilizing product prices. There was an increment of $62 in the per capita GDP in FY2009 from US$559 at the end of FY2008. Monetary 2009 signed up per household income of US$676. About 25% with the country's GROSS DOMESTIC PRODUCT in 2009 came from remittances of expatriates, totaling $9. six billion and garment exports worth $12. 3 billion dollars. The country provides registered significant expansion in the middle class. The consumer market has grown significantly. The raising foreign direct investment highlights the growth price of the Bangladesh economy. Over time there has been strength transformation with the economy which has a shift via predominantly gardening led economic climate towards market led economic system, the contribution of agriculture sector to GDP was 38% at the begining of 70's but decline to 20% in 2009-2010, while the contribution of business sector increase from 15% to thirty percent of GDP during the same period of time. The growth of the overall economy in 12 months 2009-2010 are mainly attributed by high progress in sector, rapid growth in foreign trade and good inward remittances, reforms in financial sector, sound monetary and fiscal policy and it was capable of manage GDP 6. 07 from a few. 74 in the previous year.

In the year 2011 the GDP of Bangladesh achieved the highest GDP in Bangladesh history which has been 6. 71. According to the finance ministry it absolutely was possible for the right monetary insurance plan and also susceptible to favorable climate conditions for culture, robust expansion in foreign trade and important sustainable increase in power and gas supplies.

In the furthermore in 2012 the GDP decelerated into six. 32 but nevertheless the economical condition appears in a better position as a result of remittance inflows which were 3 and a half times higher than regarding the previous several fiscal years. As of The fall of 2012, 6th. 11 billion US dollar had been received and in October 2012, the other exchange reserves surpassed the country's history for the first time by crossing over 12 billion dollar attaining 12. 70 billion on December twenty three, 2012 saving an increase greater than 400 percent.

The monetary growth slow down to 6. 01 per cent in the last fiscal by 6. 32 per cent in the 2011-12 financial, and was off-track in comparison to the ambitious focus on of 7. 2 per cent. This is because Bangladesh is likely to experience significant violence during periods of political change. The economic growth possibility remains circumscribed because of frustrated private...