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Economy of Bangladesh

Bangladesh is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Bangladesh may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Bangladesh exports around $26.91 billion and imports roughly $32.94 billion. 4.6% of population in the country are unemployed. The total number of unemployed people in Bangladesh is 7,652,935. In Bangladesh, 31.5% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Bangladesh is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. Government expenditure on education is 2.4% of GDP. The Gini Index of the country is 32.1. Bangladesh is experiencing good equality. The majority of citizens in Bangladesh fall within a narrow range of income, although some cases may show significant differences. Bangladesh has a Human Development Index (HDI) of 0.558. Bangladesh has an upper medium HDI score. This indicates that the majority of citizens will be able to attain a desirable life, though some citizens will not be able to achieve high living standards. The Global Peace Index (GPI) for Bangladesh is 1.997. Due to strong law enforcement presence and high social responsibility, Bangladesh is very safe by international standards. The strength of legal rights index for Bangladesh is 6. Overall, it is considered to be rather adequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available.

Currency

The currency of Bangladesh is Bangladeshi taka. The plural form of the word Bangladeshi taka is takas. The symbol used for this currency is ৳, and it is abbreviated as BDT. The Bangladeshi taka is divided into Poisha; there are 100 in one taka.

Credit rating

According to the S&P credit-rating agency, Bangladesh has a credit rating score of BB-, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Bangladesh has a credit rating score of Ba3, and the prospects of this rating are stable.

Central bank

The prime lending rate of Bangladesh's commercial banks is 13. In Bangladesh, the institution that manages the state's currency, money supply, and interest rates is called Bangladesh Bank. Locally, the central bank of Bangladesh is called বাংলাদেশ ব্যাংক. The average deposit interest rate offered by local banks in Bangladesh is 9.1%.

Public debt

Bangladesh has a government debt of 29.9% of the country's Gross Domestic Product (GDP), as assessed in 2012.

Tax information

The corporate tax in Bangladesh is set at 27.5%. Personal income tax ranges from 0% to 25%, depending on your specific situation and income level. VAT in Bangladesh is 15%.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Bangladesh is $572.44 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Bangladesh was last recorded at $0 million. PPP in Bangladesh is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Bangladesh is 205 billion. Based on this statistic, Bangladesh is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Bangladesh was last recorded at $0 million. The average citizen in Bangladesh has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Bangladesh averaged 6.2% in 2014. According to this percentage, Bangladesh is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well. To read more about financial information click on finances of Bangladesh.

Industry

Major industries in the country are jute, cotton, garments, paper, leather, fertilizer, iron and steel, cement, petroleum products, tobacco, pharmaceuticals, ceramics, tea, salt, sugar, edible oils, soap and detergent, fabricated metal products, electricity, natural gas. The total labor force of Bangladesh is 66,642,270 people, wherein 4.6% of population in the country are unemployed. The total number of unemployed people in Bangladesh is 7,652,935. The Industrial Production growth rate of Bangladesh is 8.4%.To read more about industrial information within Bangladesh click on industry of Bangladesh.

Agriculture

There are 75690 km2 of arable land in Bangladesh, and it comprises 53% of the country's total territory. There are 101233 km2 of cultivated land in Bangladesh. The country's major agricultural crops and products are rice, jute, tea, wheat, sugarcane, potatoes, tobacco, pulses, oilseeds, spices, fruit, beef, milk, poultry.To read more about agriculture click on agriculture of Bangladesh.