The Economy of Bangladesh: Making Wonderful Strides Ahead
International Journal of Economic Behavior and Organization
Volume 2, Issue 3, June 2014, Pages: 29-36
Received: Jun. 9, 2014; Accepted: Jun. 27, 2014; Published: Jun. 30, 2014
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Authors
Md. Shafiul Alam, Institute of Education, Research & Training (IERT), University of Chittagong, Chittagong - 4331, Bangladesh
Md. Zakir Hossain, Institute of Education, Research & Training (IERT), University of Chittagong, Chittagong - 4331, Bangladesh
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Abstract
Bangladesh is a small country of South East-Asia. The country achieved independence in 1971 through a bloody war of nine months and started her painful journey there from. Like many other things, the economy of Bangladesh was destroyed due to the liberation war. Geographically the country is considered a natural disaster prone country. Natural disasters like floods, cyclones, tidal-bores, draught etc. very frequently visit this small country and transfix its economy very ruthlessly. Overpopulation, disease, famine, illiteracy, poverty, unemployment, political unrest and instability etc. are the salient features of the country. It is only a decade or so that its economy assumed diverged dimension from solely an agro- based economy. Foreign grants and aids were also inseparable factors of the economy. But those days are no more. Its economic situation has quite reversed for the better and its features and prospects are worth praising. It has already started making outstanding strides and marching forward on the path of a sustainable development and advancement. All the indices regarding economy show positive signs of development. Taking recent Bangladesh economy into account, some eminent Economists and international organizations have opined that the country is going to be included among the next eleven rapid growing economies after BRICS. The researchers have tried to explain the nature and behavior of various variables related to the development of the economy from the periods of 1989-90 to 2011-12. The relevant data and statistics show that the behavior of the variables is very interesting. The researchers have also noticed some major problems. If the government and authorities concerned make proper endeavor to solve these problems, it is strongly hoped that the country will emerge as a middle income group country by 2022.
Keywords
Growth, Development, Agriculture, Readymade Garments, Foreign Remittance
To cite this article
Md. Shafiul Alam, Md. Zakir Hossain, The Economy of Bangladesh: Making Wonderful Strides Ahead, International Journal of Economic Behavior and Organization. Vol. 2, No. 3, 2014, pp. 29-36. doi: 10.11648/j.ijebo.20140203.11
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