Economial Condition of Bangladesh

Bangladesh is a developing country that is classified as a Next Eleven emerging market and one of the Frontier Five. According to a recent opinion poll, Bangladesh has the second most pro-capitalist population in the developing world. Between 2004 and 2014, Bangladesh averaged a GDP growth rate of 6%. The economy is increasingly led by export-oriented industrialization. The Bangladesh textile industry is the second-largest in the world. Other key sectors include pharmaceuticals, shipbuilding, ceramics, leather goods and electronics. Being situated in one of the most fertile regions on Earth, agriculture plays a crucial role, with the principal cash crops including rice, jute, tea, wheat, cotton and sugarcane. Bangladesh ranks fifth in the global production of fish and seafood. Remittances from the Bangladeshi diaspora provide vital foreign exchange. East Bengal - the eastern segment of Bengal - was a historically prosperous region. The Ganges Delta provided advantages of a mild, almost tropical climate, fertile soil, ample water, and an abundance of fish, wildlife, and fruit.The standard of living is believed to have been higher compared with other parts of South Asia.As early as the thirteenth century, the region was developing as an agrarian economy.Bengal was the junction of trade routes on the Southeastern Silk Road. Under Mughal rule, it was a center of the worldwide muslim, silk and pearl trade. The British East India Company, however, on their arrival in the late eighteenth century, chose to develop Calcutta, now the capital city of West Bengal, as their commercial and administrative center for the company held territories in South Asia.The development of East Bengal was thereafter limited to agriculture. The administrative infrastructure of the late eighteenth and nineteenth centuries reinforced East Bengal's function as the primary agricultural producer—chiefly of rice, tea, teak, cotton, sugar cane and jute — for processors and traders from around Asia and beyond. Most Bangladeshis earn their living from agriculture. Although rice and jute are the primary crops, maize and vegetables are assuming greater importance. Tea is grown in the northeast, Because of Bangladesh's fertile soil and normally ample water supply; rice can be grown and harvested three times a year in many areas. These include an actual and perceived risk to investing in new agricultural technologies and activities (despite their potential to increase income), a vulnerability to shocks and stresses and a limited ability to mitigate or cope with these and limited access to market information.