Economic Condition Analysis
Introduction
Bangladesh is one of the least developed countries. The economy of Bangladesh suffers from both supply side and demand side problems. It is one of the least developed countries in the world as it suffers from poverty, imperfection in factor and product market, continuous disequilibria in the economy, defective administrative structure, and inappropriate tax structure, heavy dependence on external sector, lack of capital stock, infrastructure bottlenecks, high unemployment rate, low standards of living, low level of savings and investment, unskilled labor market, acute balance of trade deficit and low gross domestic growth rate are prevailing in the economy. The country is not only technologically and managerially inefficient but also underdeveloped in the areas of key infrastructure such as transport, telecommunication, and energy sectors.
Recent Economic Condition of Bangladesh
The Bangladeshi economy has been growing impressively over the last decade. In the last five years, Bangladesh has been able to attain an average GDP growth of 6%. As per government statistics, in FY12 Bangladesh managed to achieve 6.3% growth of GDP but fell short of the target set at 7% and the FY performance of 6.7%. This slowdown is partially explained by the slow growth in agricultural sector recent tightening of macroeconomic policy, pressure on foreign exchange reserves and a snail’s pace in private investment Yet, during FY12 the industries and service sectors registered impressive growth (9.4% and 6% respectively) In the concluded fiscal year, Bangladesh’s per capita GDP has been estimated to be around USD 772 (11.51% increase over FY11). Per capita GNI also increased to USD 848 in FY12 from USD 816 in FY11.
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Objective
The main objective of the study is to select four macro-economic factors and know how the factors of macroeconomics work in our country in the reference period (October 2012 to December 2012) and compare with the same period of 2011. The
Bangladesh is one of the least developed countries. The economy of Bangladesh suffers from both supply side and demand side problems. It is one of the least developed countries in the world as it suffers from poverty, imperfection in factor and product market, continuous disequilibria in the economy, defective administrative structure, and inappropriate tax structure, heavy dependence on external sector, lack of capital stock, infrastructure bottlenecks, high unemployment rate, low standards of living, low level of savings and investment, unskilled labor market, acute balance of trade deficit and low gross domestic growth rate are prevailing in the economy. The country is not only technologically and managerially inefficient but also underdeveloped in the areas of key infrastructure such as transport, telecommunication, and energy sectors.
Recent Economic Condition of Bangladesh
The Bangladeshi economy has been growing impressively over the last decade. In the last five years, Bangladesh has been able to attain an average GDP growth of 6%. As per government statistics, in FY12 Bangladesh managed to achieve 6.3% growth of GDP but fell short of the target set at 7% and the FY performance of 6.7%. This slowdown is partially explained by the slow growth in agricultural sector recent tightening of macroeconomic policy, pressure on foreign exchange reserves and a snail’s pace in private investment Yet, during FY12 the industries and service sectors registered impressive growth (9.4% and 6% respectively) In the concluded fiscal year, Bangladesh’s per capita GDP has been estimated to be around USD 772 (11.51% increase over FY11). Per capita GNI also increased to USD 848 in FY12 from USD 816 in FY11.
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Objective
The main objective of the study is to select four macro-economic factors and know how the factors of macroeconomics work in our country in the reference period (October 2012 to December 2012) and compare with the same period of 2011. The