Economic Condition of Bangladesh

Report on
Economic Condition of
Bangladesh
Submitted by:
ID :
University:

Letter of Transmittal
01 march 2022
Teacher
Professor
University of
Subject: Submission of report on economic condition of Bangladesh
Sir,
It is a great honour for me to present the report to you. The report's topic is "Economic
Situation of Bangladesh," and I worked hard to make it sustainable. Working with the
country and preparing this report has been a wonderful and educational experience for me.
Yet, I have clearly benefited from this as well.
I would also like to thank you for all of your help and suggestions in putting together the
report. It'd be a great honour for me if you found this report helpful and informative in
gaining a better understanding of the situation. I would be pleased to answer any additional
questions you may have about this report or other pertinent topics.
Sincerely yours
Name

Acknowledgement
It was a great honour to express my gratitude to the wonderful people at the Institution for
their intelligent suggestions on how to enhance my profession and report.
At the very beginning, I'd want to express my gratitude to my parents, without whom I would
not have been able to finish the report. They help me by guiding, assisting and supporting me
during preparing the report.
I'd also like to express my gratitude to my teacher for assigning such a fascinating report
topic to me. I'd also like to thank my instructor for allowing me to start writing my report.
Finally, I want to thank my friends, without whom I would not have been able to finish this
project.

Executive Summary
The United Nations Conference on Trade and Development (UNCTAD) is one UN agency
tasked with expanding trade, finance, and potentials in developing nations. The IAS test is
significant to such major agencies and programs. In this report we will be talking about a
developing nation Bangladesh, it’s current economy, problems and prospectus etc.
Bangladesh's index score is 52.7, ranking it 137th in the 2022 Index score. Bangladesh is
placed 29th out of 39 Asian countries, as well as its total rating is lower than the regional or
global standards.
Bangladesh's economic growth has been steadily growing for past several years. Progress
rose from 2017 to 2019, then slowed in 2020 before picking up again in 2021. Yet, a five-
year path of gradually increasing economic liberty has come to a halt. Bangladesh have lost
2.3 points in net economic freedom since 2017, falling it into lowest portion of "Mostly
Unfree" class due to major score declines in minimum wage legislation mobility. The nation
scores well in terms of tax burden & public spending, but it falls short in terms of law of the
land and monetary freedom.

Introduction
Bangladesh seems to have a fantastic track record of economic empowerment. Throughout
the last decade, it is one of the world's fastest growing economies, owing to a structural
transformation, robust ready-made garments (RMG) exporters, and macroeconomic stability
situations. Trade and spending would remain to recover in the year 2021-22, boosting GDP
growth above 6.4 percent.
Bangladesh provides a stunning history of eradicating poverty and progress to the rest of the
globe. Bangladesh progressed by being one of the poorest countries when it was founded in
1971, with its tenth worst per individual GDP in the world, to becoming a lower-middle-
income country in 2015. Around 2026, it is expected to be removed out from UN's catalogue
of Developing World . Accordance with international poverty level of $1.90 daily, poverty
decreased from 43.5 % to 14.3 percent in 2016. Furthermore, human growth outputs
increased in a variety of ways.
According to UNCTAD
 Population of Bangladesh is around 164.689 million
 Exchange rate is 84.71 BDT/USD
 GDP is 322240 million
 CPI growth is 5.65%
 And GDP growth is 2.30%
Various new fields have sprung up as a result of advancement of information technology.
Even though role of ICT and telecommunications toward their economic condition was
minimal 10 to 15 years ago, it now plays a significant role to the economic growth. However,
both of these two sectors now generate a significant amount of cash for themselves and
contribute significantly to the economy. The lifestyle is rising as people's intellectual levels
rise. The economy will become an example for many other developing regions if these
current trends persist. Although Bangladesh's present situation is satisfactory, the authorities
must strictly oversee all economic activities.
About the country
Bangladesh is an independent country of south Asia. The are of Bangladesh is West Bengal
in the west, Northeast India in the north, and to the south India and Myanmar. The capital city
of Bangladesh is Dhaka. Also, Dhaka is the largest cities in the country.
Bangladesh declared independence from Pakistan in December 1971, following a war that
claimed the lives of over a million people. In Bangladesh, Muslims make up the majority of
the population. Bangladesh occupies an area approximately 57,320 square miles (142,576
square kilometres). It is slightly a small country than Tajikistan. By land, it is ranked 92nd
out of 195 independent nations. There are two major rivers: the Ganges and the Brahmaputra.
These are significant to Hindus. For these two major rivers, the country is frequently flooded.
The community of Bangladesh is 174.3 million.

History
For decades, what is currently Bangladesh was indeed a province of India's Part of the Indian
subcontinent. From of the Maurya (321–184 BCE) through the Mughal , that one was
administered by same emperors who governed core India. Bangladesh has been included
in the British acquired authority of territory and established their Empire in India (1858–
1947). However, during agreements for freedom as well as the separation of British India,
huge percentage of India was split from largely Muslim Bangladesh. Many leaders proposed
that only a separate Bengali republic might be a preferred option when tribal violence erupted
in India. The Indian National Congress, commanded by Mahatma Gandhi, rejected this
proposal.
While British India became independent in 1947, the Muslim portion became a quasi-part of
Pakistan. "East Pakistan" was the name given to it. East Pakistan was like an unusual
situation, cut off from the rest of Pakistan by a distance of 1,000-mile length of Indian
territory. This was segregated by ethnic background and languages from the rest of Pakistan;
Pakistanis were predominantly Punjabi and Pashtun, as compared to Bengali East Pakistanis.
East Pakistan's Awami League won maximum seat allotted to the East in 1970–71 legislative
elections. After unsuccessful meeting between the two Pakistan’s, Sheikh Mujibar Rahman
announced Bangladesh's independence from Pakistan in March 26, 1971. Although Pakistani
Army battled to prevent the Bangladeshis from independence, they fight very hard. Then
Bangladesh became an independent nation in December 16,1971.
Populations
Bangladesh has an inhabitant of around 159,000,000 people, making it the world's seventh
most populous country. Bangladesh suffers under the weight of a density exceeding 3,300
people/sq. miles.
Yet, populations growth slowed substantially, leading to a substitute birth-rate that has
dropped from 6.33 babies in 1975 to 2.15 in 2018. Bangladesh is likewise seeing a net
outflow of people.
98% of the inhabitants is ethnically Bengalis. Tiny clans along the Burmese borders and
Bihari immigrants receive the remaining 2%.
Languages
Bangla, often referred as Bengali, is Bangladesh's main language. In major cities, English is
also often spoken. Bangla is a Sanskrit-derived Indo-Aryan language. It has its own alphabet,
which is likewise dependent on Sanskrit.
In Bangladesh, several semi-Bengali Muslims use Urdu as their first language. Bangladesh's
education levels are increasing as the poverty decreases, however as of 2017, just 76 percent
of males and 70 percent of women were literate. As per UNESCO, those between 15–24 have
an education rate of 92 percent.
Religion
Bangladesh is really a stunningly beautiful country. The nation is regarded as a jewel among
the countries bordering the Indian Ocean. Aside from its beautiful nature, the country is home