In 1971, the year Bangladesh achieved independence from Pakistan, In its first seventeen years of independence, Bangladesh did not prosper, nor was it able to improve substantially the quality of life for its huge population, but it did not lose ground either. If the prospects for rapid economic development were not noticeably better in 1988 than they were in 1972, it was encouraging that Bangladesh was active in economic fields that were not foreseen even a few years earlier--e.g., as a major producer and exporter of ready-made garments and frozen seafood.
Natural disaster--a drought, a typhoon, or excessive flooding threatens every year--the government, the people, and the international community combine to limit the scope of disasters, and the economy of Bangladesh continue to struggle upward. In addition to the broad policies encouraging foreign investment in Bangladesh.
AT A GLANCE :
Official Name : The People’s Republic of Bangladesh
Government : Parliamentary form of government,
head by Prime Minister
Area/Land : 147,570 square km
Climate/Season : Subtropical Monsoon/Summer, Monsoon, Autumn, Winter
Standard Time : GMT+6 hours
Population/Literacy: 140 million/65% (15 years+)
Official Language :Bangla, English is generally understood and used as a second language
Intl Airport : Dhaka, Sylhet and Chittagong
Sea Port : Chittagong and Mongla
Banking hour : Saturday-(Wednesday) (9:00 am – 3:00 pm)
Thursday (9:00 am-1:00 pm)
Sectoral share of GDP : 25% agriculture, 24% Industries (includes manufacturing & construction), rest, other sectors.
GDP/rate of growth: US$ 57.00 billion (2003-04)/5.52% (2003-04)
Per Capita : US$421/US$444 (2003-04) GDP/GNI
Annual Export/Import : US$7.60 Billion/US$10.80 (2003-2004)
Major exports : Readymade garments, frozen foods (shrimps), leather, leather products, jute, jute products, tea, ceramic, textile fabrics, home textile, chemical product, light engineering products including bi-cycle.
Major imports : Oil, edible oil, petroleum product, wheat, seeds, fertilizer, yarn, capital goods, machinery, power generating machinery, scientific & medical equipment, iron & steel, motor vehicles, raw cotton, chemicals.
Major trading partners : USA, EU countries, China, India, Pakistan, Japan, South Korea, Canada, Australia, Malaysia, Hong Kong, Taiwan, Thailand, Indonesia, Saudi Arabia and UAE