NationMaster - Encyclopedia: Economy of Bangladesh

Bangladesh has made significant strides in its economic sector since its independence in 1971. Bangladeshi garments industry is one of the largest and comprehensive industry^{[citation needed]} in the world. Before 1980, Bangladesh's economy and foreign exchange earnings were driven by the jute industry. However, this industry started to fall dramatically from 1970, when polypropylene products gained popularity over the jute products. Image File history File links BD-fishermen. ... Image File history File links BD-fishermen. ... Fishing is the activity of hunting for fish by hooking, trapping, or gathering animals not classifiable as insects which breathe in water or pass their lives in water. ... Income, generally defined, is the money that is received as a result of the normal business activities of an individual or a business. ... 1971 (MCMLXXI) was a common year starting on Friday. ... 1980 (MCMLXXX) was a leap year starting on Tuesday. ... The word Jute is also used in reference to the Germanic people, the Jutes. ... 1970 (MCMLXX) was a common year starting on Thursday (the link is to a full 1970 calendar). ... Polypropylene lid of a Tic Tacs box, with a living hinge and the resin identification code under its flap Polypropylene or polypropene (PP) is a thermoplastic polymer, used in a wide variety of applications, including food packaging, textiles, laboratory equipment, loudspeakers, automotive components, and polymer banknotes. ...

Current GDP per capita of Bangladesh registered a peak growth of 57% in the Seventies immediately after Independence. But this proved unsustainable and growth consequently scaled back to 29% in the Eighties and 24% in the Nineties.

Bangladesh has also made major strides to meet the food needs of its increasing population, through increased domestic production. Currently, Bangladesh is the third largest rice producing country in the world.^{[citation needed]} The land is devoted mainly to rice and jute cultivation, although wheat production has increased in recent years;^{[citation needed]} the country is largely self-sufficient in rice production.^{[citation needed]} Nonetheless, an estimated 10% to 15% of the population faces serious nutritional risk. Bangladesh's predominantly agricultural economy depends heavily on an erratic monsoonal cycle, with periodic flooding and drought. Although improving, infrastructure to support transportation, communications, and power supply is poorly developed. The country has large reserves of natural gas and limited reserves of coal and oil. While Bangladesh's industrial base is weak, unskilled labor is inexpensive and plentiful. Species Oryza glaberrima Oryza sativa Rice is two species of grass (Oryza sativa and Oryza glaberrima) native to tropical and subtropical southern & southeastern Asia and in Africa. ... The word Jute is also used in reference to the Germanic people, the Jutes. ... Species T. aestivum T. boeoticum T. compactum T. dicoccoides T. dicoccon T. durum T. monococcum T. spelta T. sphaerococcum T. timopheevii References: ITIS 42236 2002-09-22 For the indie rock group see: Wheat (band). ... Monsoon in the Vindhya mountain range, central India A monsoon is a storm whose direction depends on the specific season. ... Telephones - main lines in use: 500,000 (2000) Telephones - mobile cellular: 283,000 (2000) Telephone system: general assessment: totally inadequate for a modern country domestic: modernizing; introducing digital systems; trunk systems include VHF and UHF microwave radio relay links, and some fiber-optic cable in cities international: satellite earth stations... Natural gas is gaseous fossil fuel consisting primarily of methane but including significant quantities of ethane, butane, propane, carbon dioxide, nitrogen, helium and hydrogen sulfide. ... Coal Coal (IPA: ) is a fossil fuel extracted from the ground by coal mining, either underground mining or open-pit mining (surface mining). ... Pumpjack pumping an oil well near Lubbock, Texas Ignacy Åukasiewicz - inventor of the refining of kerosene from crude oil. ...

Since independence in 1971, Bangladesh has received more than $30 billion^{[citation needed]}in grant aid and loan commitments from foreign donors, about $15 billion of which has been disbursed.^{[citation needed]} Major donors include the World Bank, the Asian Development Bank, the UN Development Programme, the United States, Japan, Saudi Arabia, and West European countries. However, Bangladesh’s poverty rate remains high. With nearly half of its 138 million people living below the poverty line, Bangladesh still has the highest incidence of poverty in South Asia and the third highest number of poor people living in a single country after India and China. As in other countries with similar income levels, Bangladesh still faces deficiencies in the quality of social services. Bangladesh has historically run a large trade deficit, financed largely through aid receipts and remittances from workers overseas. Foreign reserves dropped markedly in 1995 and 1996 but due to remarkable remittance growth in recent years, especially the large contributions made by the expatriate Sylheti community^{[citation needed]}, had stabilized at around $3.1 billion.(or about 2.2-2.5 monthly import cover)in around beginning of 2006, by September 2006, the Forex reserves had grown to $3.6 billion. Logo of the World Bank The International Bank for Reconstruction and Development (IBRD, in Romance languages: BIRD), better known as the World Bank, is an international organization whose original mission was to finance the reconstruction of nations devastated by WWII. Now, its mission has expanded to fight poverty by means... The Asian Development Bank (ADB) is a multilateral development finance institution dedicated to reducing poverty in Asia and the Pacific. ... The United Nations Development Programme (UNDP) is the largest multilateral source of grant technical assistance in the world. ... This article is 150 kilobytes or more in size. ... Sylheti is the language of Sylhet, the North Eastern province of Bangladesh and a few southern districts of Assam. ...

[edit] Moves toward a market economy

Following the violent events of 1971 during the fight for independence, Bangladesh--with the help of large infusions of donor relief and development aid--slowly began to turn its attention to developing new industrial capacity and rehabilitating its economy. The statist economic model adopted by its early leadership, however--including the nationalization of much of the industrial sector--resulted in inefficiency and economic stagnation. Beginning in 1975, the government gradually gave greater scope to private sector participation in the economy, a pattern that has continued. A few state-owned enterprises have been privatized, but many, including major portions of the banking and jute sectors, remain under government control. Population growth, inefficiency in the public sector, and limited natural resources and capital have continued to restrict economic growth. In the mid-1980s, there were encouraging, if halting, signs of progress. Economic policies aimed at encouraging private enterprise and investment, denationalizing public industries, reinstating budgetary discipline, and liberalizing the import regime were accelerated. From 1990-1993. In 1985 1989-1993, the government successfully followed an enhanced structural adjustment facility (ESAF) with the International Monetary Fund. Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... The International Monetary Fund (IMF) is an international organization that oversees the global financial system by observing exchange rates and balance of payments, as well as offering financial and technical assistance when requested. ...

Although the Khaleda Zia Government (1991-1996) initially took significant strides toward pro-market reform, including tax reform and allowing increased foreign direct investment in the gas and power sectors, preoccupation with its domestic political troubles stalled progress on this critical front in the last year of its tenure.^{[citation needed]} The government of Prime Minister Sheikh Hasina, elected in June 1996, indicated that it would continue along the path toward privatization and open-market reform, but progress has been slow, especially in privatization. While the Awami League government has managed to maintain economic growth levels around 4%-5%, and single-digit inflation—except for a period of months after the 1998 floods—per capita income levels still remain distressingly low, at less than $1 per day. Image File history File linksMetadata Download high-resolution version (1200x1600, 394 KB) [edit] Summary Grameen Bank Building, Mirpur, Dhaka. ... Image File history File linksMetadata Download high-resolution version (1200x1600, 394 KB) [edit] Summary Grameen Bank Building, Mirpur, Dhaka. ... Dhaka (previously Dacca; Bangla: à¦¢à¦¾à¦•à¦¾ Ähaka; IPA: ) is the capital of Bangladesh and the Dhaka District. ... Khaleda Zia (Bangla: à¦–à¦¾à¦²à§‡à¦¦à¦¾ à¦œà¦¿à¦¯à¦¼à¦¾) (born 15 August 1945) was the Prime Minister of Bangladesh from 1991 to 1996, the first woman in the countrys history to hold that position, and then again from 2001 to 2006. ... 1991 (MCMXCI) was a common year starting on Tuesday of the Gregorian calendar. ... 1996 (MCMXCVI) was a leap year starting on Monday of the Gregorian calendar, and was designated the International Year for the Eradication of Poverty. ... Sheikh Hasina Wajed (Bangla: à¦¶à§‡à¦– à¦¹à¦¾à¦¸à¦¿à¦¨à¦¾ à¦“à¦¯à¦¼à¦¾à¦œà§‡à¦¦) (born September 28, 1947) was the Prime Minister of Bangladesh from 1996 to 2001. ... The Bangladesh Awami League (বাংলাদেশ আওয়ামী লীগ Bāŋlādeś Āowāmī Līg) or the Bangadesh Peoples League is the main opposition party in Bangladesh. ...

Efforts to achieve Bangladesh's macroeconomic goals have been problematic. The privatization of public sector industries has proceeded at a slow pace, due in part to worker unrest in affected industries. The government also has proven unable to resist demands for wage hikes in government-owned industries. Economic growth has been further slowed by a largely dysfunctional banking system which has impeded access to capital-state-owned banks, which control about three-fourths of deposits and loans, and carry classified loan burdens of about 50%. Some efforts are being made to alleviate this problem through microcredit programs such as Grameen Bank. This article does not cite its references or sources. ... Privatization (alternately denationalization or disinvestment) is the transfer of property or responsibility from the public sector (government) to the private sector (business). ... // Microcredit is the extension of very small loans (microloans) to the unemployed, to poor entrepreneurs and to others living in poverty who are not bankable. ... The Grameen Bank (Bangla: à¦—à§à¦°à¦¾à¦®à§€à¦£ à¦¬à§à¦¯à¦¾à¦‚à¦•) is a microfinance organization and community development bank started in Bangladesh that makes small loans (known as microcredit) to the impoverished without requiring collateral. ...

[edit] Macro-economic trend

This is a chart of trend of gross domestic product of Bangladesh at market prices estimated by the International Monetary Fund with figures in millions of Bangladeshi Takas.

For purchasing power parity comparisons, the US Dollar is exchanged at 12.86 Takas only.

[edit] Agriculture

Most Bangladeshis earn their living from agriculture. Although rice and jute are the primary crops, wheat is assuming greater importance. Tea is grown in the northeast. Because of Bangladesh's fertile soil and normally ample water supply, rice can be grown and harvested three times a year in many areas. Due to a number of factors, Bangladesh's labor-intensive agriculture has achieved steady increases in food grain production despite the often unfavorable weather conditions. These include better flood control and irrigation, a generally more efficient use of fertilizers, and the establishment of better distribution and rural credit networks. With 2000000.2 million metric tons produced in 1999, rice is Bangladesh's principal crop. National sales of the classes of insecticide used on rice, including granular carbofuran, synthetic pyrethroids, and malathion exceeded 13,000 tons of formulated product in 2003 [1][2]. The insecticides not only represent an environmental threat, but are a significant expenditure to poor rice farmers. The Bangladesh Rice Research Institute [3] is working with various NGOs and international organizations to reduce insecticide use in rice [4]. In comparison to rice, wheat output in 1999 was 1.9 million metric tons. Population pressure continues to place a severe burden on productive capacity, creating a food deficit, especially of wheat. Foreign assistance and commercial imports fill the gap. Underemployment remains a serious problem, and a growing concern for Bangladesh's agricultural sector will be its ability to absorb additional manpower. Finding alternative sources of employment will continue to be a daunting problem for future governments, particularly with the increasing numbers of landless peasants who already account for about half the rural labor force. Image File history File links Size of this preview: 800 Ã— 517 pixel Image in higher resolution (1024 Ã— 662 pixel, file size: 526 KB, MIME type: image/jpeg) Source: Flickr Photo credit: Julien Mailler; The owner of the photo has given permission to use the image in Wikipedia under Creative Common... Image File history File links Size of this preview: 800 Ã— 517 pixel Image in higher resolution (1024 Ã— 662 pixel, file size: 526 KB, MIME type: image/jpeg) Source: Flickr Photo credit: Julien Mailler; The owner of the photo has given permission to use the image in Wikipedia under Creative Common... Species Oryza glaberrima Oryza sativa Rice is two species of grass (Oryza sativa and Oryza glaberrima) native to tropical and subtropical southern & southeastern Asia and in Africa. ... The word Jute is also used in reference to the Germanic people, the Jutes. ... Tea leaves in a Chinese gaiwan. ...

[edit] Industry and investment

Fortunately for Bangladesh, many new jobs--1.5 million,^{[citation needed]} mostly for women--have been created by the country's dynamic private ready-made garment industry,^{[citation needed]} which grew at double-digit rates through most of the 1990s.^{[citation needed]} Despite the country's politically motivated general strikes, poor infrastructure, and weak financial system, Bangladeshi entrepreneurs have shown themselves adept at competing in the global garments marketplace. Bangladesh's exports to the U.S. surpassed $1.9 billion in 1999. Bangladesh also exports significant amounts of garments and knitwear to the EU market. The country has done less well, however, in expanding its export base—garments account for more than three-fourths of all exports,^{[citation needed]}dwarfing the country's historic cash crop, jute, along with leather, shrimp, pharmaceuticals and ceramics. Bangladesh has been a world leader in its efforts to end the use of child labor in garment factories. On July 4, 1995, the Bangladesh Garment Manufacturers Export Association, International Labour Organization, and UNICEF signed a memorandum of understanding on the elimination of child labor in the garment sector. Implementation of this pioneering agreement began in fall 1995, and by the end of 1999, child labor in the garment trade virtually had been eliminated. Modern leather-working tools Leather is a material created through the tanning of hides and skins of animals, primarily cattlehide. ... Superfamilies Alpheoidea Atyoidea Bresilioidea Campylonotoidea Crangonoidea Galatheacaridoidea Nematocarcinoidea Oplophoroidea Palaemonoidea Pandaloidea Pasiphaeoidea Procaridoidea Processoidea Psalidopodoidea Stylodactyloidea Shrimp are swimming, decapod crustaceans classified in the infraorder Caridea, found widely around the world in both fresh and salt water. ... Pharmacology (in Greek: pharmacon is drug, and logos is science) is the study of how chemical substances interfere with living systems. ... Fixed Partial Denture, or Bridge The word ceramic is derived from the Greek word ÎºÎµÏÎ±Î¼Î¹ÎºÏŒÏ‚ (keramikos). ... For the United States holiday, the Fourth of July, see Independence Day (United States). ... 1995 (MCMXCV) was a common year starting on Sunday of the Gregorian calendar. ... The International Labour Organization (ILO) is a specialized agency of the United Nations to deal with labour issues. ... UNICEF Logo The United Nations Childrens Fund or UNICEF (Arabic: ; French: ; Spanish: ) was established by the United Nations General Assembly on December 11, 1946. ...

The labor-intensive process of shipbreaking for scrap has developed to the point where it now meets most of Bangladesh's domestic steel needs. Other industries include sugar, tea, leather goods, newsprint, pharmaceutical, and fertilizer production. The steel cable of a colliery winding tower. ... Percentages are relative to US recommendations for adults. ... Newsprint is low-cost, low-quality, non-archival paper. ... Spreading manure, an organic fertilizer Fertilizers (British English fertilisers) are compounds given to plants to promote growth; they are usually applied either via the soil, for uptake by plant roots, or by foliar feeding, for uptake through leaves. ...

The Bangladesh government continues to court foreign investment, something it has done fairly successfully in private power generation and gas exploration and production, as well as in other sectors such as cellular telephony, textiles, and pharmaceuticals. In 1989, the same year it signed a bilateral investment treaty with the United States, it established a Board of Investment to simplify approval and start-up procedures for foreign investors, although in practice the board has done little to increase investment. The government created the Bangladesh Export Processing Zone Authority to manage the various export processing zones. The agency currently manages EPZs in Adamjee, Chittagong, Comilla, Dhaka, Ishwardi, Karnaphuli, Mongla, and Uttara. An EPZ has also been proposed for Sylhet [5]. The government has given the private sector permission to build and operate competing EPZs-initial construction on a Korean EPZ started in 1999. In June 1999, the AFL-CIO petitioned the U.S. Government to deny Bangladesh access to U.S. markets under the Generalized System of Preferences (GSP), citing the country's failure to meet promises made in 1992 to allow freedom of association in EPZs. The Bangladesh Export Processing Zone Authority (BEPZA) is an agency of the Government of Bangladesh. ... Chittagong (Bengali: à¦šà¦Ÿà§à¦Ÿà¦—à§à¦°à¦¾à¦®, ChÃ´Å£Å£ogram) is the major seaport and second largest city of Bangladesh. ... Comilla (3085. ... Dhaka (previously Dacca; Bangla: à¦¢à¦¾à¦•à¦¾ Ähaka; IPA: ) is the capital of Bangladesh and the Dhaka District. ... Mongla is a sea port in the Bagerhat District of south-western Bangladesh. ... Uttara in Hindu mythology is the name of the son of King Virata who went into battle with Arjuna, in disguise, as his charioteer. ... Shah Jalal Mazar (Tomb) Sylhet (Sylheti: SilÃ´Å£; Bengali: à¦¸à¦¿à¦²à§‡à¦Ÿ, SileÅ£, formerly SrihÃ´Å£Å£o) is a major city in north-eastern Bangladesh. ... American Federation of Labor and Congress of Industrial Organizations, commonly AFL-CIO, is the largest federation of unions in the United States, made up of 53 national and international unions (including Canadian), together representing more than 9 million workers. ... The Generalized System of Preferences (or GSP) is a formal system of exemption from the more general rules of the World Trade Organization (WTO) (formerly, the General Agreement on Tariffs and Trade or GATT). ...

Sylhet is fast becoming the retail capital of Bangladesh,^{[citation needed]} with many shopping centres being built by expatriates to serve fellow expatriates visiting Sylhet and the emerging middleclass. Many of these developments hark back to Britain. [6] Shah Jalal Mazar (Tomb) Sylhet (Sylheti: SilÃ´Å£; Bengali: à¦¸à¦¿à¦²à§‡à¦Ÿ, SileÅ£, formerly SrihÃ´Å£Å£o) is a major city in north-eastern Bangladesh. ...

[edit] Overview

Bangladesh has made significant strides in economic sector since independence in 1971. Although the economy has improved vastly in the 1990s, Bangladesh still suffers in the area of foreign trade in South Asian region. Despite major impediments to growth like the inefficiency of state-owned enterprises, a rapidly growing labor force that cannot be absorbed by agriculture, inadequate power supplies, and slow implementation of economic reforms, Prime Minister Begum Khaleda Zia's government has made some headway improving the climate for foreign investors and liberalizing the capital markets; for example, it has negotiated with foreign firms for oil and gas exploration, better countrywide distribution of cooking gas, and the construction of natural gas pipelines and power stations. Progress on other economic reforms has been halting because of opposition from the bureaucracy, public sector unions, and other vested interest groups. The especially severe floods of 1998 increased the country's reliance on large-scale international aid. So far the East Asian financial crisis has not had major impact on the economy. World Bank predicted economic growth of 6.5% for current year. Foreign aid has seen a decline of 10% over the last few months but economists see this as a good sign for self-reliance.There has been 18% growth in exports over the last 9 months and remittance inflow has increased at a remarkable 25% rate. Export was $10.5 billion in fiscal year 2005 exceeding the target export by $0.4 billion. Target export for current year is $11.5 billion. An estimated GDP growth of 6.7% was predicted for FY 2006.^{[citation needed]} 1971 (MCMLXXI) was a common year starting on Friday. ... This article is about the geopolitical region in Asia. ... A state-owned enterprise (SOE) is an enterprise, often a corporation, owned by a government. ... Invest redirects here. ... The capital market (securities markets) is the market for securities, where companies and the government can raise long-term funds. ... Natural gas is gaseous fossil fuel consisting primarily of methane but including significant quantities of ethane, butane, propane, carbon dioxide, nitrogen, helium and hydrogen sulfide. ... Oil power plant in Iraq A power station or power plant is a facility for the generation of electric power. ... It has been suggested that this article or section be merged into Development aid. ... The Asian financial crisis was a financial crisis that started in July 1997 in Thailand and affected currencies, stock markets, and other asset prices in several Asian countries, many considered East Asian Tigers. ...

Exchange rates: taka (Tk) per US$1 - 69.000 (Ocotber 2006), 49.085 (1999), 46.906 (1998), 43.892 (1997), 41.794 (1996), 40.278 (1995)

Fiscal year: 1 July - 30 June July 1 is the 182nd day of the year (183rd in leap years) in the Gregorian Calendar, with 183 days remaining. ... June 30 is the 181st day of the year (182nd in leap years) in the Gregorian Calendar, with 184 days remaining. ...

Growths in remittance and exports have contributed to an overall positive balance of payment (BoP) in the last fiscal year (FY 2005-06).

Country's trade imbalance also recorded a decrease of 13 percent as export outweighed import in the last fiscal.

Overall BoP recorded a surplus of US$ 365 million in the FY '06, which was a smaller surplus with $ 67 million in FY '05, according to Bangladesh Bank statistics.

Exports saw a 21.63 per cent growth during last fiscal whereas in FY '05 the growth was 13.83 per cent.

Earning from export amounted to $10.52 billion in FY' 06, which was $8.65 billion during FY '05.^{[citation needed]}

During the last fiscal, growth in import was 12.05 percent or $1431 million whereas export had a growth of 21.63 percent or $1849 million.

On the other hand, remittance inflow maintained the growth rate over 24.78 percent, touching $4.8 billion mark in the last fiscal mainly due to increase in skilled labour abroad and government's efficient move against money laundering.

Due to better performance by the export sector, the country's trade deficit decreased largely in the last fiscal. Reducing by $418 million country's deficit in trade balance now figures at $2879 million.

Despite larger service and income deficit, current account balance recorded a surplus of $572 million in the last fiscal against the deficit of $557 million during FY '05.

The overall BoP recorded surplus despite decline both in foreign aid and net foreign direct investment (FDI) in the last fiscal.

According to official statistics from Bangladesh government, net FDI amounted to $675 million in financial year 2005-06, which was $800 million in FY '05.

Bangladesh Bank statistics also reveals that foreign aid amounted to $1241.21 million in last fiscal, which was $1260 million in FY '05.^{[citation needed]}

[edit] References

The World Factbook 2007 (government edtion) cover. ... The public domain comprises the body of all creative works and other knowledge—writing, artwork, music, science, inventions, and others—in which no person or organization has any proprietary interest. ... The Background Notes series is a collection of works by the United States Department of State. ... The public domain comprises the body of all creative works and other knowledge—writing, artwork, music, science, inventions, and others—in which no person or organization has any proprietary interest. ...

[edit] External links

Logo of the World Bank The World Bank Group is a group of five international organizations responsible for providing finance to countries for purposes of development and poverty reduction, and for encouraging and safeguarding international investment. ...

[edit] See also

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South Asia Free Trade Agreement (SAFTA)

Bangladesh • Bhutan • India • Maldives • Nepal • Pakistan • Sri Lanka Bangladesh Academy for Rural Development (BARD) is an autonomous institution that strives for research and training of local people as well as practitioners on rural development. ... Countries under the South Asian Free Trade Area The Agreement on the South Asian Free Trade Area is an agreement reached at the 12th South Asian Association for Regional Cooperation (SAARC) summit at Islamabad, capital of Pakistan on 6 January 2004. ...

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World Trade Organization (WTO)

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¹ All twenty-seven member states of the European Union are also members of the WTO in their own right:
Austria • Belgium • Bulgaria • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Hungary • Ireland • Italy • Latvia • Lithuania • Luxembourg • Malta • Netherlands (— For the Kingdom in Europe and for the Netherlands Antilles) • Poland • Portugal • Romania • Slovakia • Slovenia • Spain • Sweden • United Kingdom WTO redirects here. ... Image File history File links Download high-resolution version (1357x628, 17 KB)World map of World Trade Organization (WTO) members/non-members, 2005; based on Image:BlankMap-World-v2. ... Economy - overview: Antigua and Barbudas economy is service-based, with tourism and government services representing the key sources of employment and income. ... According to the 2006 Index of Economic Freedom published by the Heritage Foundation and the Wall Street Journal, Bahrain has the most free economy in the Middle East and is twenty-fifth overall in the world. ... The Asian financial crisis in 1997 and 1998, coupled with fluctuations in the price of oil have created uncertainty and instability in Bruneis economy. ... Burkina Faso is one of the poorest countries in the world with an average income per capita of â‚¬250 (US$300). ... Economy - overview: The Central African Republic is classified as one of the worlds least developed countries, with an annual per capita income of $310 (2000). ... Costa Ricas basically stable economy depends on tourism, agriculture, and electronics exports. ... The Ivorian economy is largely market based and depends heavily on the agricultural sector. ... Sparsely populated in relation to its area, the Democratic Republic of the Congo is home to a vast potential of natural resources and mineral wealth, yet the economy of the DROC has declined drastically since the mid-1980s. ... The Dominican Republic is a middle-income developing country primarily dependent on agriculture, trade, and services, especially tourism. ... // Overview The Salvadoran economy continues to benefit from a commitment to free markets and careful fiscal management. ... In 2006, the European Union is the biggest economy in the world with 30,30% of GDP (World Bank, Total GDP 2005). ... Economy - overview: The breakup of Yugoslavia in 1991 deprived F.Y.R.O.M. (Former Yugoslav Republic of Macedonia), then its poorest republic (only 5% of the total federal output of goods and services), of its key protected markets and large transfer payments from the center. ... Economy - overview: The Gambia has no important mineral or other natural resources and has a limited agricultural base. ... Economy - overview: Guinea-Bissau is among the worlds least developed nations and one of the 20 poorest countries in the world, and depends mainly on agriculture and fishing. ... Other Hong Kong topics Culture - Education Geography - History - Politics Hong Kong Portal The economy of Hong Kong is widely believed to be the economically freest in the world. ... Currency 1 South Korean Won (W) = 100 Jeon(ChÅn) (theoretical) Fiscal year Calendar year Trade organizations APEC, WTO and OECD Statistics [1] GDP ranking 10th by volume (at nominal) (2005); 11th by volume (at PPP) (2006); GDP (Nominal) $801. ... The economy of Kyrgyzstan was severely affected by the collapse of the Soviet trading block. ... The economy of Macau is based largely on tourism (including gambling) and textile and fireworks manufacturing. ... // Economic Profile Since 1984 the government of New Zealand has accomplished major economic restructuring, moving an agrarian economy dependent on concessionary British market access toward a more industrialized, free market economy that can compete globally. ... Overview Papua New Guinea is richly endowed with natural resources, but exploitation has been hampered by the rugged terrain and the high cost of developing infrastructure. ... Saint Kitts and Nevis was the last sugar monoculture in the Eastern Caribbean. ... Saint Lucias economy depends primarily on revenue from banana production and tourism with some input from small-scale manufacturing. ... The St. ... Economy - overview: Saudi Arabia has an oil-based economy with strong government controls over major economic activities. ... To meet Wikipedias quality standards, this article may require rewriting and/or reformatting. ... A per capita GDP of $340 ranks Solomon Islands as a lesser developed nation. ... To meet Wikipedias quality standards, this article may require rewriting and/or reformatting. ... // With an economy of $80. ... Dr. Sun Yat-Sen decorates a 100NT bill. ... Trinidad and Tobago experienced a real growth rate of 3. ... Prior to the first exports of oil in 1962, the United Arab Emirates economy was dominated by pearl production, fishing, agriculture, and herding. ... The United States has the largest national economy in the world, with a GDP for 2006 of 12. ... The economy of Venezuela is still based on oil, although efforts have been made to develop heavy industry, e. ... The Netherlands has a prosperous and open economy, which depends heavily on foreign trade. ...

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Economy of Asia

Afghanistan · Armenia · Azerbaijan¹ · Bahrain · Bangladesh · Bhutan · Brunei · Cambodia · China (People's Republic of China (Hong Kong • Macau) · Republic of China (Taiwan)) · Cyprus · East Timor · Georgia¹ · India · Indonesia · Iran · Iraq · Israel (see also Palestinian territories) · Japan · Jordan · Kazakhstan¹ · Korea (North Korea · South Korea) · Kuwait · Kyrgyzstan · Laos · Lebanon · Malaysia · Maldives · Mongolia · Myanmar · Nepal · Oman · Pakistan · Philippines · Qatar · Russia¹ · Saudi Arabia · Singapore · Sri Lanka · Syria · Tajikistan · Thailand · Turkey¹ · Turkmenistan · United Arab Emirates · Uzbekistan · Vietnam · Yemen The economy of Asia comprises more than 4 billion people (60% of the world population), living in 46 different states. ... The economies of the special administrative regions of Hong Kong and Macau are treated separately from the rest of the Peoples Republic of China. ... Other Hong Kong topics Culture - Education Geography - History - Politics Hong Kong Portal The economy of Hong Kong is widely believed to be the economically freest in the world. ... Dr. Sun Yat-Sen decorates a 100NT bill. ... East Timor, one of the worlds poorest nations, faces a host of problems in its attempt at rebuilding its economy. ... The Palestinian economy refers to the economy of the Palestinian territories, including the West Bank, East Jerusalem and the Gaza strip. ... Economy of Korea may refer to: Economy of South Korea Economy of North Korea Category: ... This article or section does not cite its references or sources. ... Currency 1 South Korean Won (W) = 100 Jeon(ChÅn) (theoretical) Fiscal year Calendar year Trade organizations APEC, WTO and OECD Statistics [1] GDP ranking 10th by volume (at nominal) (2005); 11th by volume (at PPP) (2006); GDP (Nominal) $801. ... Economy - overview: Saudi Arabia has an oil-based economy with strong government controls over major economic activities. ... // With an economy of $80. ... Prior to the first exports of oil in 1962, the United Arab Emirates economy was dominated by pearl production, fishing, agriculture, and herding. ...

¹ Has some territory in Europe. A transcontinental country is a country belonging to more than one continent. ...

Encyclopedia > Economy of Bangladesh

Contents

[edit] Moves toward a market economy

[edit] Macro-economic trend

[edit] Agriculture

[edit] Industry and investment

[edit] Overview

[edit] References

[edit] External links

[edit] See also