Economy Is The Life Blood Oldlkf A Country

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Economy is the life blood of a country.

The stronger the economy of a nation is, the


more developed will the country be. Bangladesh, one of the developing countries of
the world, has a rapidly developing market-based economy with an estimated
US$1700 per capita income in 2010. The country has a population of estimated 14
billion. Even with such a big population, the country is trying to keep its head above
water in the world of laissez-fair.
According to the International Monetary Fund, Bangladesh ranked as the 47 th largest
economy in the world in 2010 in PPP terms and 57 th largest in nominal terms,
among the Next Eleven or N-11 of Goldman Sachs and D-8 economies, with a GDP
of US$269.3 billion in PPP. The economy has grown at the rate of 6-7% p. a. over the
past few years. Therefore, more than half of the GDP belongs to the service sector,
a major number of nearly half of Bangladeshis are employed in agriculture sector,
with RMG, textiles, leather, jute, fish, vegetables, leather as other important
products.
Manufacturing and industry is an important sector of the economy of Bangladesh.
Many new jobs- mostly for women- have been created by the countrys dynamic
private ready-made garment industry, which grew at double-digit rates through
most of the 1990s. It overtook India in apparel export in 2009 reaching US$2.66
billion.

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