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Economy Analysis of Bangladesh

In: Business and Management

Submitted By darkfaruk
Words 1976
Pages 8

World economy is facing recession today. Every country with largest economy has been affected by that. Largest economy country such as USA’s economy has fallen. As everything is now globalized all the country of the world has felt impact on different degrees. Bangladesh’s economy is going upward day by day. Being so conservative with economy Bangladesh has somewhat stopped the bad effect of recession. Since Bangladesh is a developing country it is not safe from any global effect. Bangladesh’s economy is in a vulnerable position. Globalization has liberated the business among the countries of the world. Now open market method or free trade has increases the competition between countries of the world. Bangladesh’s economy is not in such condition though it has made progress. Bangladesh’s political instability and deficiency in international matters are some impediment of its growing economy. Still we are dependent on import which is also a cause of vulnerability. Our trade system and keeping away from the global matters also are hampering the growth. As a developing country our economy is not an established economy. So our financial budget of every year is a deficit budget. We have to much depend on foreign help. Being industrially backward our export products are declining which causes a negative impact on the balance of trade. We have to concern in utilizing the resources. Development programs are always going on which need machinery that we have to buy from other countries. So there is a great need of taking care in those sectors to implement any new methods or competing with other countries.

The Condition of Economy of Bangladesh

The economy of Bangladesh is a developing market-based economy. Its per capita income in recent year is US$750. According to the International Monetary Fund, Bangladesh ranked as the 48th largest economy in the…...

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