Homework SourseINTERNATIONAL BUSINESS COUNTRY BANGLADESH What is the type s
INTERNATIONAL BUSINESS
COUNTRY: BANGLADESH
What is the type, stage, and special features of the economy of Bangladesh?.
Solution
Bangladesh has market based economy. Market based economy means government does not have any interfere in the deciding the prices of the product or services, or how much to manufacture etc. It is derived by the supply and demand of the product. So Bangladesh also has this economy type.
Bangladesh economy holds the 44th ranked in terms of largeness. It has 32nd place in terms of purchasing power capacity. Bangladesh economy is growing above 7% growth rate.
If we talk bout the export of the Bangladesh then generally it exports clothes, agricultural products, remittance, and leather products. It is well known for the quality of clothes.
Bangladesh GDP is worth $751 billion with per capita income of $1610. Current inflation rate in the country is 5.44%.
Bangladesh is an emerging market as it has a work force of 81.95 million people.
40% of people are involved in agriculture and 30% are involved in service and industries each.
The country has export and import relation with big countries like America, Germany, India and other bigger countries. As per 2015 data the export percentage was America 13.9%, second was Germany 12.9%, third UK 8.9%, and France 5%, Spain 4.7%.
If we talk about the import then China has the import percentage of 22 % and India 15 % Singapore 5 %.
Bangladesh foreign reserve value is $33.02 billion and revenue in 2017 was $33.33 billion and expanses were near $30 billion.
Bangladesh is mostly dependent upon agriculture and rice and jute is the primary crop for this country.
Pl note that some data I have taken from “https://en.wikipedia.org/wiki/Economy_of_Bangladesh#Macro-economic_trend”
