🇧🇩 Economy of Bangladesh – Easy & Detailed Notes
1. Introduction to Bangladesh’s Economy
• Bangladesh is a developing country in South Asia.
• Its economy is based on three major sectors: agriculture, industry, and services.
• In the past, most people depended on farming, but now it's shifting more toward factories
and services (like banking and transport).
• The government is working hard to make Bangladesh a middle-income country, and
later a developed one.
2. Agriculture in Bangladesh
• Agriculture is the main source of food and jobs for rural people.
• Major crops grown: rice (main food), jute (used for bags), tea, wheat, sugarcane,
vegetables, and fruits.
• Though many people farm, this sector brings less money than industries or services.
• Problems in agriculture:
o Natural disasters like floods, cyclones, and droughts
o Lack of modern machines
o Small land sizes for farming
• Government support:
o Providing fertilizers, irrigation (water), seeds
o Free or cheap training for farmers
o Loans for buying tools or tractors
3. Industry in Bangladesh
• Industry is growing quickly — it helps with jobs and exports.
• Main industries:
o Garment and textile (largest and most important)
o Pharmaceuticals (medicines)
o Shipbuilding
o Leather goods
o Electronics and food processing
• The Ready-Made Garments (RMG) industry:
o Provides jobs to millions, especially women
o Brings in the most foreign currency
o Exports to USA, Europe, and other countries
4. Service Sector
• This is the fastest-growing part of the economy.
• Includes:
o Banking and finance
o Education and schools
o Healthcare and hospitals
o Transport (buses, trains, etc.)
o Telecommunication and IT
• This sector helps improve people’s daily life and adds a lot to the GDP (Gross Domestic
Product).
5. Foreign Remittance
• Many Bangladeshi workers live and work abroad (like in the Middle East, Malaysia,
UK).
• They send money home to their families — this is called remittance.
• Remittance is one of the top sources of income for Bangladesh.
• It helps reduce poverty, supports the family economy, and increases foreign currency
reserves.
6. Employment & Unemployment
• Many people are unemployed or underemployed (working less than they can).
• Even educated youth often can’t find good jobs.
• Reason: Lack of technical skills and job-oriented education.
• Solution: Provide more vocational training (practical skills) and grow small businesses.
7. Foreign Trade
• Bangladesh imports:
o Fuel (oil, gas)
o Machinery and vehicles
o Food and raw materials
• Bangladesh exports:
o Garments (main item)
o Jute products
o Leather goods
o Frozen seafood (like shrimp)
• Trade Deficit: Happens when we buy (import) more than we sell (export).
• To fix this:
o Grow new exports (IT, freelancing)
o Attract more foreign investment
o Focus on "Made in Bangladesh" products
8. Economic Growth
• Bangladesh’s GDP is increasing every year.
• Huge improvements in:
o Roads and bridges (like Padma Bridge)
o Electricity (more people getting power)
o Education and digital access (like Digital Bangladesh)
• Goal: Achieve Vision 2041 — become a smart and developed nation.
9. Problems in the Economy
• Poverty: Many still live in poor conditions
• Corruption: Wastes money and slows progress
• Overpopulation: Too many people for limited jobs/resources
• Political unrest: Strikes or unstable governments
• Weak infrastructure: Not enough roads, power, etc.
• Lack of skills: People need more technical and job-ready skills
10. Solutions & Ways to Improve the Economy
• Invest more in education and skill development
• Help small and medium businesses (SMEs) grow
• Improve roads, internet, electricity
• Reduce corruption and ensure good governance
• Use natural resources (gas, rivers) wisely
• Bring in more foreign investors (by making it easier to do business)
