The Bangladesh government has taken initiatives to build an ICT-driven nation comprising of knowledge-based society. In view of this, a country-wide ICT-infrastructure is being developed to ensure access to information by every citizen to facilitate empowerment of people and enhance democratic values and norms for sustainable economic development by using the infrastructure for human resources development, governance, e-commerce, banking, public utility services and all sorts of on-line ICT-enabled services. To achieve these, all required laws and policies are in place. Government has identified ICT as a thrust sector.
From a mainly feudal agrarian base, the economy of Bangladesh has undergone rapid structural transformation towards manufacturing and services. The contribution of the agriculture sector to GDP has dwindled from 50 percent in 1972-73 to around 20 percent in 1999-2000. The agricultural sector is, however, still the main employment provider. The staple crop is rice, with paddy fields accounting for nearly 70% of all agricultural land.
Industrial production growth has averaged more than 6% over the last 5 years. The export sector has been the engine of industrial growth, with ready-made garments leading the way, having grown at an average of 30% over the last 5 years. Primary products constitute less than 10 percent of the country`s exports; the bulk of exports are manufactured/processed products, ready-made garments and knit wears in particular.
Bangladesh, least developed country, largely an agrarian economy with around 24 million acres of cultivation land employing about 14.5 million cultivators. Manufacturing industries have grown around Dhaka and Chittagong based on agriculture input of jute, cotton, chemical and gas based industries.
GDP grew in the year 2001-02 at a rate of 4.5% and was projected to grow by 5.5% in the year 2002-03. In the year 2001-02 contribution of agriculture is 24.6%, industry 26.5% and the balance by services other sectors. It was noted that the share of industrial production in the GDP was growing indicating revival of the economy. Contribution of industrial sector increased from average 11.11% in the year 1999-2000 to 25% in 2001-02 and was poised to account for 30% in the year 2002-03. Conducive policies announced by the government for industrial development led to revival of the economy. Figure 1.1 shows the GDP growth from 1997-2003.
To overcome the slowdown in international trade, Bangladesh Government has taken several critical measures. The private sector has also put its best endeavours to face the situation. To face the severe global competition the local economy had to do cost cutting, improve productivity and efficiency.
During the course of this paper, we hope to give the reader a better understanding of the economic forces at play that influence this Nation's GDP, in therefore its economic health.
The money supply increased which also lead to an increase in spending. And the effect was that from 2002 spring to 2006 spring, the GDP increased to 26 percent, thus as the GDP...
Few concerns have surfaced in economy that plays a vital role in agriculture and therefore in economic development. Developing countries and more even, LDC’s, are dependent on agriculture for income for the population. But achieving good agriculture means that many things have to change within these countries self. Good transportation is need in these countries and more often than not the infrastructure doesn’t allow this to happen and transporting agricultural goods are more expensive for these countries, thus these countries need capital and investments to further their outputs and inputs to gain bet...
COMTEX News Network, Inc; “Bangladesh among the worst trade performers in South Asia: report”. InfoTrac Web: Gen’l Reference Ctr Gold. December 5, 2003; Xinhua News Agency, Dec. 9, 2003. Sri Nandanandana, “Preaching in India’s Northeast For Cultural Preservation” VaiShnava News February 21, 2003; Retrieved Dec. 9, 2003 http://www.vnn.org/world/WD0302/WD21-7837.html. Dr. S. M. Shamim ul Moula, “Fighting Disease”
In order to assess the current state of the economy, the examination of important economic indicators or variables has always played a vital role in the understanding of the complex economic systems we live in. The analysis of these economic variables studied by many, not only has served as a tool to evaluate the current economic performance of a country, but also has allowed experts to envisage and continue the pavement of an economy's road. Currently, some economic variables have had favorable improvements indicating a general good outlook for the economy for the following months, requiring a further individual analysis and comparisons in order to foresee crisis or successes.
As soon as the shift to a free trade regime appeared along with the competition with countries such as China and Indonesia the quick collapse of Bangladesh’s textile industry has been predicted. However, the opposite occurred. We can highlight three major reasons to explain what happened:
Lao society is rural and subsistence agriculture accounts for half of the GDP and provides 80% of employment. Rice is the primary crop, grown on about 80% of Laos’ arable land. Laos received development aid from the International Monetary Fund, Asia Development Bank and other international sources. Agricultural production and most manufacturing production are mostly conducted by the private se...
Saudi Arabia has developed rapidly in all sectors because of information and communication technology. ICT has significant impact in all sectors of economy of Saudi Arabia. It has also enabled the government to implement strategies that benefit citizens in terms of information technology that has led to high GDP and economic growth. The desert land that Saudi Arabia is known for has faded to an ICT hub. This is because of the strategic value that information technology has provided the country is insurmountable. Kingdom of Saudi Arabia exposes children to ICT at an early age through introduction of information and communication technology in schools so as to prepare them for the complex technological society that awaits them later in life.
The objective of this paper is to examine how the development of a textile industry contributes to economic growth in the global economy. Because textile manufacturing is a labor-intensive industry, developing countries are able to utilize their labor surplus to enter the market and begin the process of building an industrial economy. Emerging economies then look outward to develop an export strategy based on their comparative advantage in labor costs.
The consistent use of information and communication technology (ICT) in modern world enables us for countless opportunities for individuals, institutions, business organisations and scientists, but it also raises difficult ethical and legal problems. In particular, ICT helped to make societies more complex and thus even harder to understand. The use of ICT has led to changes in concepts: ownership, buying and selling, right to possession, theft, justice in the distribution of resources and access rights. During the nineties, the internet has grown into all business segments resulting in a large number of questions running. It has been noted that during those time period there has been merging of computers, telecommunications, and media which is further emphasized by the emergence of new issues and strengthening old ones.
There are 27.4 million people that live in these targeted regions and of that 40.5% of them live in poverty and 37.1% of the children of five were suffering from stunting (Feed the Future). In the areas of Bangladesh that Feed the Future has been targeting, they have been fairly effective. Between 2011 and 2014, there has been a 14.4% reduction in childhood stunting. There has also been roughly a 16% decrease in poverty in areas Feed the Future has been working. This was done by helping smallholder farmers learn how to use new technologies and management practices. They are getting close to hitting their goal in 2017 of 32.4% poverty and 30.5% stunting in children under 5 years. The efforts they have put into help farmers and producers to improve the agricultural products resulted in an increase value of sales of $129.57 million (Feed the Future). Bangladesh has also increased the amount of rice they have been exporting because with all the agricultural innovations their rice production
Agriculture holds a significant role in underdeveloped countries. It is often the backbone of their economic and social well-being. It acts as the main source of employment and income, 70% of a country's population rely on framing as a mean of living (CITE HERE). Because most underdeveloped countries have low rates of educational attainment, farming is a popular source of employment. It requires little to no education. As a result agriculture employs many people contributing to nations economic development. Residents can also sell what they grow, providing them with a source of income, thus not only raising the national income level but the standard of living as well. Agriculture is not only a ...
The shift to a free trade regime in the textile industry was good for Bangladesh. Bangladesh prospered when other economies were not t doing so well. The textile industry greatly increased causing it to become a major reason as to why the economic has continued to increase. Increasingly bring in billions and billions from exports between 2006 to 2012 like the book mentions.
Technology will always continue to prosperously evolve and advance. It has benefitted mankind with the creation of fire, the wheel, and numerous other aspects of development. It has given us the opportunity to overcome and conquer nature. Technology has influenced our lives in several ways that it almost feels like a super-power. As this power increases, we human beings will be the ones to determine the fate of the future. The progression of technology can either lead some human beings to go ashtray and take advantage of it by creating devastating wars, or it can lead others to help the ones in need and make the world a better place to live in. Being born in Bangladesh and having the honor and pride to call myself a Bengali, it is my duty to help my motherland.