Growth Of Bangladesh Comparing With Others Economics Essay

The history ( BBS, 2009 ) of Bangladesh is an eventful combination of convulsion and peace, every bit good as prosperity and destitution. It has thrived under the freshness of cultural lusters and suffered under the depredations of war. The district now representing Bangladesh was under the Muslim regulation for over five and half centuries from 1201 to 1757 A.D. Then, it was ruled by British India, after the licking of the last autonomous swayer, Nawab Sirajuddowla, at the conflict of palashi on the fatal twenty-four hours of June 23,1957. The British ruled over the full Indian subcontinent including this district for about 190 old ages from 1757 to until Britain withdrew in 1947. During that period Bangladesh was a portion of the British Indian state of Bengal and Assam. With the expiration of the British regulation in August 1947, the subcontinent was partitioned into India and Pakistan. It remained so about 24 old ages from August 14 1947 to March 25 1971. It appeared on the universe map as an independent and autonomous province on December 16, 1971 following the triumph at the war of release from March 25 1971 to December 16 1971

Figure ( Map ) Political Map of Bangladesh ( Maps,2010 )

Geographic

Bangladesh ( BBS,2009 ) lies in the north eastern portion of South Asia between 20o 34 ‘ and 26o 38 ‘ north latitude and 88o 01 ‘ and 92o 41 ‘ east longitude. The state is bounded by India on the West, north and north-east piece Myanmar on the south-east and the Bay of Bengal on the South.

At a Glance: Bangladesh ( Derived by writer from BBS,2009: BHCLONDON,2010 and other beginnings )

Official Name. The People ‘s Republic of Bangladesh

Area. 1, 47,570 sq.km. Territorial Waters 22.22 kilometer. Economic Zone-Upto 370.40 kilometer. in the high seas, measured from the base line.

Population.140.6 ( as on 2006 )

Head of State. Mr. Md. Zillur Rahman, Hon’ble President of the People ‘s Republic of Bangladesh ( 2010 )

Head of Government. Sheikh Hasina, Prime Minister of the Government of the People ‘s Republic of Bangladesh ( 2010 )

Climate. Main seasons: Winter ( Nov-Feb ) . Summer ( March-June ) , Monsoon ( July-Oct ) .Temp-max. 34A°C. min. 8A°C.

Rain: Highest 136cm and Lowest 47cm

Unit of measurement of Currency. Taka

Administrative Unit of measurements. Division: 6 ; District: 64 ; Police Station: 507 ; Union: 4484 ; Village: 87319

Life anticipation at Birth. Entire population: 62.84 old ages

male: 62.81 old ages

female: 62.86 old ages ( 2007 estimated. )

Main Minerals. Natural Gas, Lignite Coal, Limestones, Ceramic, Clay and Glass Sand

Main Industries. Garments and knitwear, Jute, Cotton, Textile, Tea, Paper, Newsprint, Cement, Fertilizer, Sugar, Light Engineering, Electric overseas telegrams, Leather. Fish, Ship edifice and etc

Main Exports. Readymade garments and Knitwear, Jute and Jute merchandises, Tea, Ceramic Leather and Frozen frozen nutrient and etc

Main Imports. Machinery and Equipment, Chemicals, Iron and steel, Yarn, Textiles, Food Grain and other Foodstuffs, Crude Petrolium and oil merchandises, Scrap vas Plastics and rubber article.

Seaport. Chittagong, Mongla and Sonadia ( Proposed Deep Sea Port )

Air Ports. Dhaka, Chittagong, Jessore, Rajshahi, Iswardi, Sylhet, Cox ‘s Bazar, Syedpur and Barisal

Education. Public Universities-31, Private Universities-54, Colleges-3639, Polytechnic Institute-27, Govt Medical colleges-13, Non-govt. medical colleges-27, Secondary schools-21665, Primary schools-82020.

Tourism. Colourful tribal life of Chittagong Hill Tracts, universe ‘s longest sea beach at Cox ‘s Bazar, centuries-old historical sites at Dhaka, Paharpur & A ; Mainamati Buddhist monasteries, Mohastangar, Sundarban the place of the Royal Bengal Tiger and the largest Rhizophora mangle wood in the universe, Tea Gardens in Sylhet, reverine life etc ( season October to March )

Time Zone. GMT +6.00 hour

4.2 ECONOMICAL FACTS & A ; FIGURESBasic Economic Facts ( BHCLONDON,2010 )

Figure ( Graph ) Bangladesh Foreign exchange modesty up to June 2009 ( BBS, 2009 )

GDP

US $ 88.4 billion

GDP Growth

5.88 %

Per Capita Income

US $ 690

Distribution of GDP

Agriculture-18 % , Industry 28 % and Service 54 %

Inflation ( CPI )

6.66 % ( mean )

Entire Export

US $ 15.57 billion

Entire Import

US $ 22.51 billion

Remittance

US $ 9.69 billion

Current history Balance

US $ 2.53 billion ( As on June 30 2009 )

Entire FDI

US $ 1.08 billion

Foreign Exchange Reserve

US $ 7.47 billion

Table 8 Basic economic facts of Bangladesh ( FY 2008-2009 )

GDP Growth of Bangladesh comparing with others.

Area

2008

2009

2010 ( Forecast )

2011 ( prognosis )

Universe

1.7

-2.1

3.3

3.3

Developing States

5.7

1.7

6.2

6.0

South Asia

4.9

7.1

8.2

8.7

Bangladesh

6.2

5.7

5.5

5.8

Table. 9 The Global mentality -GDP edited by writer ( World Bank,2010 )

Figure ( Diagram ) Banglaadesh development diamond ( World Bank, 2010 )

The development diamond is demoing that state exceeded the low -income group degree except gross primary registration. Overall, the WB index reflects a good and happy life manner of Bangladesh among the developing states of the universe.

Figure ( Diagram ) Bangladesh Export and Import Levels

Figure ( Diagram ) Bangladesh Economic Ratio

The WB assesses the economic ratio of Bangladesh where trade is dawdling behind in low income degree but holding a balance of capital and house servants nest eggs.

4.3. Logisticss Assessment- Transport

Transport Systems of Bangladesh

Sea Transport

Connected with all nautical states of the universe through Chittagong and Mongla Port

River. The length f the river varies for seasonal H2O degree fall-rise. This is the cheapest manner of rider and lading transit in Bangladesh. Having sea connexion with inland H2O vass.

Road. Length ( BRTA,2007 ) of entire roads 270565 kilometers and suited but chief route is 20735 kilometer are suited for runing coach, truck, dawdler etc

Rail. Specially for rider conveyance but executing for freight transit of Containers and Bulk trade goods. Entire Length.2706 Km

Grapevine. Merely for transporting natural gas line from the beginning to stop users. Approx. 3364 Km

Air. Domestics and international flights are operated on a regular basis. Famous for international freight transit of perishable lading, Readymade garments pharmaceutical and veggies

Worldbank ( 2010b ) argued that efficient conveyance system is indispensable to ease economic growing of Bangladesh for accomplishing the first end of MDGs ( Millennium Development Goals ) -at least 7 % per centum to get the better of the general poorness. By cut downing the cost of conveyance and allocate resources among different manners of conveyance in a more balanced mode, Bangladesh can accomplish the growing. Fortunately, Bangladesh has all sorts of conveyance manner installations for linking the people and in freight transit.

Mongla

Chittagong

Figure ( Map ) Entry points of Bangladesh ( Pellegri,2008 )

Entry Point

Name of the Point

Partner state

Manner

Authority

Remarks

Benapole

India

Road

Soan Masjid

India

Road

Hilli

India

Road

Burimari

India

Road

Darshana

India

Railing

Bhomra

India

Road

Tamabil

India

Road

Bibli Bazar

India

Road

Birol

India

Railing

Rohanpur

India

Road

Chatak

India

Road

Agartala

India

Road

Teknaf

Myanmer

Road and River

Bangla Bandh

Nepal

Road

Chittagong

Over the universe

Sea

Mongla

Over the universe

Sea

Table. Bangladesh Entry Point ( Pellegri,2008 )

Chittagong Port

Figure ( Picture ) Chittagong Port ( CPA,2010 )

The port ( CPA Year Book, 2008 ) of Chittagong is the chief port of Bangladesh situated on the right bank of the tidal river Karnafully at a distance of about 9 maritime stat mis from the shore line of the Bay of Bengal. The offshore attack to the port may be considered to be due norths of the 10 fathom contour in latitude 22o 24` North and longitude 91o 30 ‘ East. The port has three outer anchorage named A, B and C for puting the vas temporally but direct entry is allow as per holding allowable bill of exchange to the chief breakwater. This port is installed with latest managing equipments and all sort of berthing installations of lading and container..The history of ( CPA,2010 ) Chittagong port day of the months back to the fourth century B. C. Chittagong was known in the ninth century onwards to fifteenth century as ‘SHETGANG ‘ , an Arabic word intending ‘Delta of the Ganges ‘ . Harmonizing to history, this old port had sufficient trade and was of import plenty to pull fleet from the Middle East Ports, China and other South Eastern states. The Omani and Yemeni bargainers landed of the port of Chittagong in the ninth century A. D. During the sixteenth century the Lusitanian took great involvement in the vicinity around Chittagong which was so popularly known as “ PORTE GRANDE ‘ . The present location of the Port was, nevertheless, established in the twelvemonth 1887 and by 1910, four breakwaters were constructed to manage 0.5 million dozenss of lading yearly. At that clip, Port Commissioners, and Port Railway administered the port jointly. To make off with the double disposal of Port Railway and Port Commissioners, the ‘Port Trust ‘ was formed in July 1960. The Liberation of Bangladesh in 1971 set a new tendency in the external trade of Bangladesh and to get by with the rapid development and enlargement of the Port, the authorities promulgated the Chittagong Port Authority Ordinance in 1976 and dissolved the Port Trust therefore Chittagong Port Authority came in being.

The committedness of CPA ( 2008 ) to the port users are as follows: –

Supply the highest criterion of safety and security lading and container harmonizing to ISPS codification while guaranting a navigationally safe oasis for ships.

Strive for a cost-efficient service through public presentation of international direction patterns and criterion.

Develop a extremely trained motivated work force to run into the turning demands of the port industry.

The Chittagong ( CPA, 2010 ) port is managing approximately 92 % of import-export trade of Bangladesh and supplying transportation services and installations to the port users expeditiously and efficaciously at a competitory rate.

Mongla Port.

Figure. Mongla Port ( MPA,2010 )

Mongla haven is the most eco-friendly 2nd port of Bangladesh situated on the south-western portion of the state at the meetings of thruster river and Mongla Nulla about 71 maritime stat mi upstream of the Bay of Bengal. The port is non efficientfor supplying the general service of lading and vas managing swimmingly and seasonably. The port board of directors was changed in several times and eventually name vitamin D as Mongla Port Authority since 8 March, 1987.

It has ( MPA,2010 ) the following installations: –

General Cargo/Container Berth

05 nos

River Moring Berths

07 Nos

Anchored positions

14 nos

Theodolite Shed

17932 M Ton

Warehouse

15326 M Ton

Container Yard

120 Nos ( 20’/40 ‘ )

Mongla ( Independent,2009 ) Port Authority signed a memoranda of understanding worth about Tk 21,000 crore ( $ 3 billion ) with a Singaporean company named Associates Pte Ltd ‘s to develop the 2nd largest haven of the state. Power works, H2O intervention works, industrial park, dredging system, container terminuss and other substructure will be set up over 20 old ages for functioning the state besides playing a critical function in importing and exporting goods to assorted states, including India, Nepal, China and Bhutan.

Deep Seaport ( Proposed )

Figure ( Picture ) Proposed deep haven at Soandia in Chittagong ( Bangladesh2 day,2009 )

The authorities has programs to construct the state ‘s first deep haven at Sonadia Island near Moheshkhali of Chittagong Pacific ( Bangladesh2 day,2009 ) Consultant International – a Nipponese house conducted the feasibleness survey of deep haven in 2006 and Bangladesh is traveling to eastablish such port that would revolutionize Bangladesh ‘s trade through sea paths with the South Asiatic part. And it would assist transport of goods to India ‘s seven south-eastern provinces, Kolkata port and Haldia port, Nepal, Myanmar every bit good as to Kunmin state of China.

Figure ( Diagram ) Concept of Deep haven fiscal construction ( Bangladesh2 day,2009 )

Harmonizing ( to an initial estimation, the three-phase building will be Tk 600 billion.A Japan International Cooperation Agency ( JICA ) , Asian Development Bank ( ADB ) and the Chinese authorities have agreed to finance the project.A Harmonizing to the program, the first-phase building, affecting around Tk 130 billion, will stop in 2020.A In the first stage, five international-standard general breakwaters, capable of lading and droping 74.1 million metric tons of goods a twelvemonth, will be built.A The second-phase building will be done by 2035 at a cost of Tk 260 billion and the third-phase one by 2055 at Tk 210 billion.A At the terminal of the third-phase building, the port ‘s one-year loading-unloading capacity will stand at around 325.2 million tonnes.A