Overview of the Agricultural Sector of Bangladesh

Overview of the Agricultural Sector of Bangladesh

• 1.
  A Project On The Overviewof the Agricultural Sector of Bangladesh: Prospects and Challenges
• 2.
  Introduction Bangladesh is mainlyan agricultural country. As it accounts for around 30% of the country's GDP and employs around 60% of the total labor force and it is the single largest producing sector of the economy. Main Agricultural Products of Bangladesh: Crops, Livestock, Fisheries, and Forests At present the total cropped land is 1,50,34,071 hectare and there are 1,51,83,183 holding firms in total.
• 3.
  Methodology of theStudy Mostly secondary data have been used for this analysis. Data have been collected from- Bangladesh Economic Survey, Bangladesh Bureau of Statistics, News Portal and Internet web sites, Books, Newspapers, Magazines and Journals.
• 4.
  Objectives of theStudy Main Objectives: To examine the contribution of agriculture to Bangladesh's economy. To provide a comparative analysis of the agricultural sector with the service sector and sectors of industry. To provide recommendations for agricultural sector development. Specific Objective: To determine the current situation of the Bangladesh agricultural sector.
• 5.
  Role of AgriculturalSector in Bangladesh Economy Increased the Rate of Employment. Increase of GDP Rate. In 2020 GDP rate increased by 12.66% by agriculture. Contribution in Industrial Development. Foreign Exchange Earning. Improvement of Service Sector.
• 6.
  Export of AgriculturalProducts from Bangladesh According to the 2019-2020 FY report, the agriculture sector contributes 8.6% in Bangladesh’s annual GDP. From FY 2019-20, Bangladesh has exported more than $900 million and the rate of value was 35%, which is one of the biggest successes for Bangladesh. Bangladesh exports mainly vegetables, betel leaf, tea, dry food, tobacco, fruit, and foliage products.
• 7.
  Prospects of AgriculturalSector Protection of arable land Adaptation to climate change Fertilizer management Water management Production of quality seeds Fair price of products Return to research investment
• 8.
  Challenges of AgriculturalSector of Bangladesh Climate change Acidification of water and soil Natural hazards Riverbank erosion Soil fertility Government policy
• 9.
  Findings Strengths of agriculturalsector of Bangladesh: Skilled and efficient human resources Suitable weather Traditional cultivating process Collaborating for groups Weaknesses of agricultural sector of Bangladesh: Poor contact Lack of sufficient technology Loss of awareness Calamity in nature (Flood, Cyclone, Heavy Raining etc.)
• 10.
  Recommendations More steps shouldbe taken to prevent environmental destruction by the government. Government should promote more to grow cash crops, such as: jute production, which helps us to earn foreign currency. Government can arrange short-term or long-term loans for risk-taking farmers. The Weather Service should ensure the consistency and accessibility of the weather and report to farmers.