RECORD 7.86 PERCENT GDP GROWTH OF BANGLADESH ECONOMY IN 2018
In recent years Bangladesh witnessed record economic growth. Under the leadership of nations founder Sheikh Mujibur Rahman’s Daughter Sheikh Hasina, Bangladesh is aiming for the Digital transformation of its economy and development in key SDG Human Development indicator. The Awami League lead government is giving highest priority to developing the energy sector. Now 90 Percent population Have Access To The Elctrecity .
Bangladesh has ranked 18th among the 25 most powerful countries in the Asia-Pacific in the survey of the Lowy Institute. Bangladeshi economy is projected to grow from $180 billion to $322 billion by 2021 according to IMF.
Despite various environmental challenges, Bangladesh maintained robust growth. Its exports have rebounded – primarily led by the Ready-Made Garments (RMG) sector – with a 6.33% growth in FY18, compared with 4% in the previous year and 17% growth in remittances.
The national poverty rate fell in both rural and urban areas. The poverty rate stands at 21.8 percent and the extreme poverty rate at 11.3 percent in 2018, which was 23.1 percent and 12.1 percent respectively in 2017.
Bangladesh Investment Development Authority received the proposal of $23.25 billion for investment from, foreign and joint venture sources in 2017.
Exports and private investments are likely to be the key growth drivers. The national foreign reserve has increased more than five times in last 10 years from $6.14 billion in 2007-08 to $32.21 billion in March 2017 and $33 billion in August 2017 .
The stock market size of the Dhaka Stock Exchange in Bangladesh crossed USD 50 billion in August 2010. Bangladesh had the best performing stock market in Asia during the recent global recession between 2007 and 2010.
The banking sector, the most important
player in the money market, has continued to move in the
wrong direction. Despite some push from the BB, asset
quality and governance has not improved. State-owned
various Bank performed with a poor record of
large non-performing loans.
SEPTEMBER 20, 2018