Economy of Bangladesh

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The market-based economy of Bangladesh is the 44th largest in the world in nominal terms, and 32nd largest by purchasing power parity; it is classified among the Next Eleven emerging market economies and a Frontier market.

Bangladesh is now one of the two fastest growing economies in the world”. During last seven years, the size of the economy doubled, the foreign currency reserves more than quadrupled (in 2009, the reserves stood at less than US$6.5 billion, now it crossed US$29 billion.), inflation came down (around 6%), and the interest rates declined. Remittances from the Bangladeshi diaspora which is around 8.6 million provide vital foreign exchange.

Bangladesh has made remarkable progress in raising incomes, improving social indicators and has been upgraded as a “Lower Middle-Income Country” by World Bank under the dynamic leadership of the current Prime Minister Sheikh Hasina.

 

 

 

The country has been classified as a “Next Eleven” emerging market and one of the “Frontier Five” emerging economies in the world by Goldman Sachs and JP Morgan respectively.

In Bangladesh, a strong middle class is gradually forming which according to some estimates is close to 18 % of the population. Middle-class people is rising rapidly and would be 25 percent of the total population by 2025. The huge demographic dividend has created the window of economic opportunity for Bangladesh. Poverty has been reducing about 2 percent per year and the predication says that it will come down to 8 percent by 2021.

The country of 160 million people is characterized by a vibrant domestic consumer market. Bangladesh is a largely homogeneous society with no major internal or external threats and a population with great resilience in the face of adversity. A huge labor with enthusiasm, hardworking ability and specifically with cheaper cost is suitable for any labor-intensive industry.

 

Percentage of population living below $3/day in Bangladesh, India, and Pakistan.

With the huge population and land mass and Huge opportunity Neighbors of Bangladesh is behind The basic Poverty Elevation .

 

Population Comparison Of Bangladesh India and Pakistan
Land Mass Comparison of Bangladesh India and Pakistan

 

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