The Function of Agriculture in the Economic Development of Bangladesh Muhammed Nazmul Islam Economical Portrait of Bangladesh
After December 1971 Bangladesh was expected to certainly be a prosperous economy by eradication of low income & usage of political liberty to take advantage economic freedom. With superb ambitions in eyes & high obligations on the shoulder, Bangladesh reached for the 20th 100 years with some accomplishments & plenty of disappointments.
In past twenty years (1990 to 2009) the Gross Domestic Product (GDP) growth level of Bangladesh on an normal was 5. 313 percent1. Within the period GDP improved from 300 billion US dollar to 783 billion but with a great elevating selling price level2. GROSS DOMESTIC PRODUCT per household of Bangladesh was $621 in 2009, which in turn increased from $381 in the year 20013. The inflation shows unexpected expansion in 2001 to 2005, as inflation lifted up from two percent to above being unfaithful percent. Inside the fiscal 12 months 2009 вЂ“ 2010 pumpiing was at almost eight. 12 percent4.
The framework of the economy is changing its patterns in farming & developing sectors, since the percent of contribution of manufacturing sector in GDP is elevating with a decline in agricultural contribution. In 1974 agricultural sector was contributing fifty nine. 26 percent of the GROSS DOMESTIC PRODUCT, where as the ratio was declined to 19. eighty-five percent in the year 20095. In fiscal 12 months 2009 вЂ“ 2010, total export & import (including EPZ) was 16236 & 21388 million US dollars respectively6. Precisely export & import improved vibrantly, even though the trend shows high import dependency. Overseas Direct Investment (FDI) in Bangladesh was 700 million US us dollars in money year 08 вЂ“ 2009, which is lower than that of 3 years ago вЂ“ 20087. With a large population of 147. eighty six million, Bangladesh is still growing with 1 . 3 percent population growth rate8. Life expectancy proportion is over six decades ago at birth & adult literacy ratio was 53. 5% in the 20099.
The Part of Cultivation
Traditionally, the role of agriculture has been perceived as indirect & supportive for...
Sources: 1 . Normal GDP expansion rate can be calculated using the " Community Bank Info SeriesвЂќ, called " World Development Indications & Global Development FinanceвЂќ. Source: www.databank.worldbank.org/ddp/home.do 2 . Origin: World Traditional bank data series 3. Resource: Bangladesh Bureau of Stats. 4. Bangladesh Bank, " Major Economic Indicators Month to month UpdatesвЂќ, December 2010. your five. Allauddin Mohammad (2004), " Recent Improvements in the Bangladesh EconomyвЂќ, ASRAC working newspaper, vol. 2004/13. 6. Source: Bangladesh Bureau of Figures. 7. Supply: Bangladesh Bureau of Statistics. 8. Resource: Bangladesh Bureau of Statistics. 9. Source: World Traditional bank data series 10. Resource: Bangladesh Bureau of Statistics. 11. Origin: World Traditional bank data series 12. Resource: World Traditional bank data series 13. Source: World Financial institution data series 14. Eswaran Mukesh & Kotwal Ashok (2004), " The Role of Culture in DevelopmentвЂќ. 15. www.wikipedia.org, accessed on 29th 12 , 2010 on the search of Agriculture of Bangladesh.