Jatiya kabi Kazi Nazrul Islam University

Trishal, Mymensingh

Assignment on

“Comparative Analysis of Bangladesh Economy from Mughal Period to Present” “

“The Current Structure of Bangladesh Economy”

Course Name: Economy of Bangladesh

Course Code: HRM-304

Submitted to Submitted by

Md. Atiqur Rahman Khan Rowshon Tabassom

Lecturer Roll: 18133023
Department of Human Resource Department of Human Resource
Management Management
Jatiya Kabi Kazi Nazrul Islam University Jatiya Kabi Kazi Nazrul Islam University

Date of submission:10.2.2021
 Economy of Bangladesh

Acknowledgment

It is a real pleasure to express our deepest appreciation sincere gratitude and heartiest
gratefulness to our course instructor “Md. Atiqur Rahman Khan” sir. So nice of you sir.
This assignment is an essential part of BBA program not only BBA it is also important in real
life. We can find out theoretical and historical knowledge within the short period of time and
doing the works of your specific topics.
At first, we like to pay our thanks to almighty Allah for helping us to do all the works with
perfection. However, to complete task through different articles and Wikipedia to learn
thoroughly regarding economic of Bangladesh. We can understand pros and cons of
Bangladesh economy.

1| P a g e
 Economy of Bangladesh

Table of Content

S. N Content Page

1. Executive Summary 3
Comparative Analysis of Bangladesh Economy from Mughal Period to
2. 4
Present-
3. Introduction 4

4. Major economic sector 5

5. Agriculture 5

6. Economy 6 -7

7. Conclusion 7

8. Reference 8

9. The Current Structure of Bangladesh Economy- 9

10. Introduction 9

11. Macroeconomic scenario 9-11

12. Social 11

13. Unemployment 12

14. Conclusion 12

15. Reference 12

Figures

S. N Content Page

1. Figure 1: percentage of labor in Mughal period ABOUR IN MUGHAL P 6

2. Figure 2: GDP growth rate 7

3. Figure 3: percentage of economic sector 9

4. Figure 4: GDP growth in current economy 10

5. Figure 5: unemployment rate in current economy 12

2| P a g e
 Economy of Bangladesh

Executive Summary

Economic development is one dimension of the more inclusive concept of development.

Bangladesh has made significant strides in its economic sector performance since independent
in 1971.The world bank has forecast that Bangladesh gross domestic product is grow by 7.9%in
the current year 2020-2021 fiscal year.

Mughal empire classical period-

1526-1530 BABUR
1539-1556 HUMAYUN
1556-1605 AKBAR
1605-1627 JAHANGIR
1628-1658 SHAH JAHAN
1659-1707 AURANGZEB

Future prospects of Bangladesh:

• To become a middle-income country by the year 2021
• To become the 30th largest economy of world by the year 2030
• To the largest RMG exports in the world
• Enhancing export volume through export diversification
• Huge demand and reputation of Bangladeshi pharmaceuticals around the world
• Shipbuilding sector of Bangladeshi
• Higher flow remittance &foreign exchange reserve

3| P a g e
 Economy of Bangladesh

Mughal period to present

Bangladesh

What is the comparative analysis of Bangladesh economy from Mughal

period to present?

1. Introduction

The economy in Mughal was reliant on agriculture, trade and other businesses. Agriculture
contained to be an important part of the economy. But the crops methods still remained majorly
unaffected. The fabric business was thriving and later the was an incredible demand for cotton
and silk
On the other hand, present economic situation in Bangladesh has been largely driven by its
exports of ready-made garments, remittances and the domestic agriculture sector. The country
has pursued export-oriented industrialization, with its key export sectors include textiles, ship
build etc.

4| P a g e
 Economy of Bangladesh

2. Major Economic Sector

Mughal Economy (1526-1761)

➢ Agriculture
➢ Shipbuilding
➢ Business
➢ Textile
➢ Trade
➢ Labor

Present Economy (2020)

• Readymade • Shipbuilding • Tea

• Garments • Automotive • Rice
• Domestic • Bicycle • Natural Gas
Agriculture • Leather
• Industries • Jute
• Textiles • Glass
• Pharmaceutical Products • Paper
• Electronics • Plastic

We can see that present economic sector is greater than Mughal economic sector. Whereas
present economy is more technology based.

3. Agriculture

In Mughal sultan was more important role play in Mughal economy. This man-made asset had
been cleverly designed, solidly executed and carefully maintained. It has served to control
erosion, harvest maximum run off and retain highly fertile soil
• A massive outflow of labor where Female is more than total male force
• More labor is supply from rural area Government gave high priority in agriculture
sector

5| P a g e
 Economy of Bangladesh

PERCENTAGE OF LABOUR IN MUGHAL PERIOD

Female Male

40%

60%

Figure 1

Difference between Mughal period Agriculture to present agriculture:

Mughal Agriculture Present Agriculture

GDP by sector- 40% GDP by sector- 14.23%

4. Economy

Mughal economy

The economic stability of the empire was ruined because of constant wars. Some of the wars
did not add even in inch to the Mughal emperor besides this, the Mughal rules spent lavishly
on buildings and monuments. Finally, the foreign invasions completely shattered the economy.
• The Mughals used the mansabda system to generate land revenue
• The emperor would grant revenue rights to a mamsabdar in exchange for promises of
soldiers in war time
• The mansab was both revocable and nonhereditary

6| P a g e
 Economy of Bangladesh

Present Economy

According to the forecast related by the economist intelligence unit on 26 march, the global
economy is expected to contact by 2.2 per cent in 2020.these effects are expected to be more
exposed in major G20 economics such as
• Germany, Italy the United Kingdom and the us all countries that are major markets for
Bangladesh most vital tradable goods- readymade garments
• The depressed oil prices will also lead to a strong reversal of growth in the middle east
and north Africa region, which is also home to a large Bangladeshi diaspora who send
back close to $20 billion every year
• But in coming months there will be decreases in remittance and that these second decree
impacts will also be felt in the country

GDP Growth Rate

7.6 8 7.9
6.8 7.2
6 6.5 6.2 6 6.3

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Figure 2

5. Conclusion

In Mughal period, Seth bohria traders special sized in long distance trade, local traders were
called BANIK. Imports were raw silks, gold, ivory, valuable stones, perfumes, horses and
salves. Internal trade become more important than international trade. But in present
economy import & export both important.

7| P a g e
 Economy of Bangladesh

6. Reference

https://www.google.com/search?q=covid+19+in+bangladesh+a+visual+guide+in+economy&
sxsrf=ALeKk00hnNkMveQ193jyF0cMT-
NLIQACCQ:1612520423426&source=lnms&tbm=isch&sa=X&ved=2ahUKEwiKtZ_YwtLu
AhWqwjgGHRQADmgQ_AUoAXoECAMQAw&biw=1536&bih=698#imgrc=gjG25xcPLh
cMzM
https://en.wikipedia.org/wiki/Economy_of_Bangladesh#Mughal_Bengal

8| P a g e
 Economy of Bangladesh

What is the Current Structure of Bangladesh Economy?

1. Introduction

The current issue of Bangladesh economic update focuses on the overall economic condition
of Bangladesh particularly in the half way of Fiscal year (1 July -30 June). To explore current
economic status, macroeconomics framework Real sector framework, social sector, poverty &
inequality and Employment. Whereas COVID-19 pandemic will more affect private sector as
well as public sector not only Bangladesh economy also world economy.

2.Macroeconomics Scenario

GDP

• Total population of Bangladesh 162,650,853 (2020 est).

• The total amount of gross domestic product (GDP) $338 billion (nominal ;2021 est).
• GDP rank 35th (noiminal,2020), 29th (ppp,2020)
• GDP by 3 sectors in which the contribution of agriculture sector is 14.23%, industry
sector is 33.66%, service sector is 52.11%

PERCENTAGE

14.23%
Agriculture
Industry
52.11%
33.66% service

Figure 3

9| P a g e
 Economy of Bangladesh

GDP Growth

Hence, based on the economic distributions following the pandemic, GDP growth forecast of
Bangladesh by IMF, web and ADB has been revised downward FRO 7.9%,8.2%,5.20%, 3.8%
for FY’20. we can say that, this pandemic will simultaneously affect in Bangladesh economy

• GDP per capita -$2064(nominal;2020), $5139(ppp,2020 est)

• GDP per capita rank – 141th (nominal,2020), 135th (ppp,2020)

GDP Growth
7.90% 8.20%

5.20%
4.40%

2017-2018 2018-2019 2019-2020 2020-2021

Figure 4

Inflation Rate

Current inflation rate in Bangladesh in below:

Rate of inflation
December ,2019 November,2020 December,2020
(as measured by CPI)

Point to point 5.75% 5.52% 5.29%

Monthly average 5.59 5 5.73% 5.69%

10| P a g e
 Economy of Bangladesh

Export & Import

In current year, COVID-19 will be major
effect to export and import industry. we
predict that export to fall by 15.4% as well
as import to slow down by 11.8% and
remittance to grow at 6.0% in fiscal year
2020. The rate of point decline in current
year. Bangladesh Textiles, Garments,
Leather & Leather Goods, Pharmaceuticals
and other Chemical products, Ceramic
Products, Bicycles, Jute and Jute Goods,
IT, Agricultural Products, Frozen Food.
▪ In Bangladesh, 2019-2020 fiscal year
export rate was $ 33.67 billion
▪ But 2018-2019 9(July June) $ 40.53
billion
Textiles and Textile Articles, Machinery
and Mechanical Appliances, Electrical
Equipment, Mineral Products, Vegetable
Products, Metal & metal products,
Chemicals & Allied Products, Vehicles &
Aircraft
• In July 2019-june 2020) Bangladesh
was import $46.24 billion
• But $55.44 billion 2018-2019 fiscal
year.

Export Import

July 2018- June 2019 $40.53 July 2018- June 2019 $55.44
billion billion

July 2019- June 2020 $33.53 July 2019- June 2020

billion $55.44 billion

3. Social Sector

The pharmaceutical industry is among the least

effected by the pentameric disruption but the
industry’s supply chain has been stretched
dangerously thin. The industry imports over 97% of Health
its raw materials however trade with importing
countries has been severely restricted since
the start of pandemic
Finance Minister AHM Mustafa Kamal allocated Gender
Tk 66,400 crore for the Education sector for the
2020-21 fiscal year. He allocated Tk 24,937 crore
for the primary and mass education ministry, Tk Education
33,118 crore for secondary and higher education
division and Tk 8,345 crore for technical and
madrasa education division.
Bd has closed over 72 % of its overall Gender gap,
while Pakistan managed less than 55 %

11| P a g e
 Economy of Bangladesh

4. Unemployment

UNEMPLOYMENT RATE

overall
30%
female
48%

male
22%

Figure 5

5. Conclusion

The post covid-19 world will not be the same. In the long run after taking into account the
economic situation of Bangladesh the government has targeted to achieve the targeted GDP.

6. Reference

https://en.wikipedia.org/wiki/Economy_of_Bangladesh#Mughal_Bengal

https://www.thedailystar.net/tags/bangladesh-economy

12| P a g e