Term Paper on Gross Domestic Product

(Bangladesh Perspective)

Prepared For:

Dr. Hasina Sheykh

Professor

Department of Banking and Insurance

University of Dhaka

Prepared By:

Team 03: The Business Incentives

Name Roll Number

Munni Aktar Ratri 28-001
Bably Yasmin Joly 28-023
Jesan Mahmud 28-029
Al Rafi 28-035
Shudipta Das 28-057
Tabassum Hoque Eva 28-095

28th Batch

Bachelor of Business Administration, BBA

Department of Banking & Insurance

University of Dhaka

Date of Submission: February 20, 2024

Page | i
 Letter of Transmittal

February 20. 2024

Dr. Hasina Sheykh

Professor

Department of Banking and Insurance

University of Dhaka

Dear Sir,

Attached is the report as assigned, entitled " GDP of Bangladesh". We are delighted to be able
to prepare our term report for completing our course in the “Macro-Economics” (B-202), BBA
Program. This report gave us an opportunity to explore the aspects of “Gross Domestic
Product.” We are thankful to you for the continuous support and patience that you have
provided us throughout the course of preparing the report, despite your busy schedule. We are
submitting our report to you for your kind assessment. Once again, we thank you for your kind
supervision, direction, communication, and co-operation.

Sincerely yours,

Team The Business Incentives

Department of Banking and Insurance

University of Dhaka

………………………

Signature of Student

Page | ii
 Declaration

We do hereby solemnly declare that the work presented in this term report has been carried out
by our group and has not been previously submitted to any other university, college, or
organization for an academic qualification/certificate, diploma, or degree. The work we have
presented does not breach any existing copyright, and no portion of this report is copied from
any work done earlier for a degree or otherwise. We further undertake to indemnify the
Department against any loss or damage arising from a breach of the foregoing obligations.

Sincerely,

Jesan Mahmud

On behalf of team “The Business Incentives”

………………………..

Signature of Student

Page | iii
 Acknowledgment

First, we would like to express our gratitude to Almighty for providing us with the strength and
vitality to complete this report in a timely manner. We would also like to express our heartfelt
gratitude to our honored course instructor, Dr. Hasina Sheykh, professor and chairman of the
Department of Banking and Insurance, for allowing us to collaborate on the project with the
other group members and complete the report while also providing helpful suggestions. Her
empathy, patience, unfailing communication skills, and charisma have aided us in immersing
ourselves in the subject, developing a flair for it, and effectively completing our term paper
report writing. We would also like to express our gratitude to each of our group members for
their unwavering support and for completing their assigned tasks on schedule and without
showing any signs of negligence.

Page | iv
 Table of Contents

Acknowledgement iv

Abstract vii

Section- 1 Introduction 1

1.1: Background of The Study 1

1.2: Objectives of The Study 1

1.2.1: Broad Objective 1

1.2.2: Specific Objectives 1

1.3: Rationales of The Study 1

1.4: Limitations 2

1.5: Structure of The Study 2

Section-2 Literature Review and Organizational Profile 3

2.1: Introduction 3

2.2: Literature Review 3

2.3: Organizational Profile 3

2.4: Conclusion 3

Section-3 Methodology 4

3.1: Sample Size 4

3.2: Types of Data 4

3.3: Source of Data 4

3.4: Methods 4

3.5: Conclusion 4

Section-4 GDP of Bangladesh 5

4.1: Historical Data of Gross Domestic Product 5

Page | v
 4.2: Per Capital Income 6

4.3: Comparison Between Growth Rate of Nominal and Real GDP 7

4.4: Contribution of Different Sectors 8

4.5: GDP Comparison of Bangladesh with SAARC Countries 9

4.6: Per Capita Income of SAARC Countries 11

4.7: GDP Growth Rate of SAARC Countries 12

4.8: Conclusion 13

Section-5 Conclusion 14

5.1: Conclusion 14

5.2: References 15

Page | vi
 Abstract

GDP means the market value of all final goods and services that are produced within a country
in each period.

GDP measures the economic stability of a state or country. The condition of the people of an
economy, their purchasing power, standard of living can be defined by gross domestic product.

Here, we have discussed about the “GDP of Bangladesh.” First, we have discussed about the
historical data of gross domestic product of Bangladesh from 1960 to 2023. IN this part we
have tried to show the year-by-year gross domestic product of Bangladesh.

Then, we discussed the per capital income. We can see here, the fall and up of the per capita
income from 1960 to 2023. We can see a general level of growth every year. Also, we have
here discussed the comparison between “nominal and real GDP” from 2011 to 2022. Here we
can see the nominal GDP slows down in covid time, but after that it grows again. This is
applicable for real GDP. But the growing rate of real GDP in comparison with nominal GDP
is little slower because of inflation rate.

Then we discussed the various sectors of our GDP. WE have discussed the main sectors of our
source of gross domestic product. These are: agriculture, industry, service. We have stated the
comparison between the 2000-2001 financial year and 2021-2022 financial year. We can see
the growth of the service sector but also, we can see the fall of the agricultural sector. Though,
Bangladesh is an agricultural country.

Last, we discussed the GDP comparison among SAARC countries. Here, we have included the
information of Bangladesh, India, Pakistan, Sri Lanka, Afghanistan, Nepal, Bhutan, Maldives.
Also, we have discussed the per capita income of these countries between 2019 to 2022 and
GDP growth rate of these countries from 2019 to 2022. Also, discussed about the comparison
of growth rate among these countries.

Page | vii
 Section: 1
Introduction

1.1: Background of The Study:

Gross Domestic Product (GDP) is the total monetary value of all goods and services produced
within a country in a specific year. It is the sum of consumption, investment, government
spending and net exports. GDP can be nominal and real. High GDP results in due to one of two
reasons: high price level(inflation), increase in quantity of output. Gross domestic product
helps us to measure the living standard of a country. When the GDP is high in one country, it
is considered that the per capital growth will also be high. Bangladesh is a developing country.
Its GDP is increasing with time. Three major sectors of GDP of Bangladesh are - agriculture,
industry, and services. Though Bangladesh is an Agriculture based country, service sector is
growing more rapidly, and it is largely increasing our GDP. Industry Sector also has a great
influence on our GDP. If we look at our gross domestic product, it is growing compared to
previous years. Comparing to other countries of SAARC, we can see that it was higher than
Pakistan, Seri-Lanka, Afghanistan, Nepal, Bhutan, Maldives but it was less than the GDP of
India from 2019-2022. Again, if we look at Per Capita Income (PCI) of SAARC counties, PCI
of Bangladesh was higher than India, Pakistan, Afghanistan, and Nepal. But the PCI of
Bangladesh was less than the PCI of Sri Lanka, Bhutan, and Maldives.

1.2: Objectives of The Study:

1.2.1: Broad Objective: The objective of the study is to show the gross domestic product of
Bangladesh and the impact of GDP on economy.

1.2.2: Specific Objectives:

• To show the historical data of GDP in Bangladesh.

• To show the effect on the country’s economy.
• To show the growth and fall of GDP.
• To show the contribution of different sectors.
• To show the comparison of GDP among SAARC countries.

1.3: Rationales of The Study:

GDP helps us to measure the condition of the economy of a country. In this report, we included
the historical data, par capital income, growth of GDP, comparison among countries, this will
help us to see a clear picture of the condition of our economy. We can also, we can be aware
about our standard of living.

Page | 1
1.4: Limitations:

• Time limitation.
• Restrictions on knowing all information.
• Had to depend on secondary data.
• While developing the report, there might have been a lack of experience.
• This report also faced limited access to data.

1.5: Structure of The Study:

This report contains 5 sections. In this section, we include our introductory information about
this report. In section 2, we include literature reviews or the information about the websites and
research papers we used to gather information. In section 3, we include our sources, sample
size, types of data and method. In section 4, this is all about our major data finding and the
picture of the GDP of Bangladesh. Last, in chapter 5, we include the conclusion, references
and appendix.

Page | 2
 Section: 2
Literature Review and Organizational Profile

2.1: Introduction

This section will help us to know about the theme of our whole report paper. Here, we included
the sources and organization from where we had collected the information of GDP.

Here, we included the research paper and websites from where we had collected our data when
we were searching for the GDP of Bangladesh. Some of them are macrotrend,
macroeconomic.com, ceicdata, Bangladesh Bureau of statistics.

2.2: Literature Review

From the prior published research papers, we have learned the various facts od GDP of
Bangladesh. From macrotrend and macroeconomics.com, we collected the GDP information
of Bangladesh from 1960 to 2023, also the per capital income, growth rate of GDP, the
comparison among the SAARC countries. We have also used the research reports of
“Bangladesh Bureau of Statistics” to know the contribution of different sector in our GDP.

2.3: Organizational Profile

Bangladesh Bureau of Statistics (BBS) the main source of official statistics in Bangladesh.
The bureau is under the Statistics Division of the Ministry of Planning, Government of
Bangladesh and is accountable to and liable for acquiring, processing, preserving, and
publishing all types of statistical data. The statistical system of the country is mostly centralized
in BBS.

2.4: Conclusion

In this chapter we have included the summary details of the source of our data and how we
used this data in our report. In the next chapter, we will discuss the methodology of our report
paper.

Page | 3
 Section: 3
Methodology

3.1: Sample Size:

In this term paper all the necessary information related to “GDP of Bangladesh” is included.
Other numerical information is also attached for numerical purposes.

3.2: Types of Data:

In this research both descriptive and numerical data have been used. Descriptive data have been
used to discuss the information and numerical data have been used for analysis purposes.

3.3: Sources of Data:

For making this report paper, we have gathered information from various sources.

➢ Secondary Sources:
❖ Website of macrotrend.
❖ Website of marcroeconomic.com.
❖ Website of ceicdata.
❖ Website of “Bangladesh Bureau of Statistics.”
❖ Online journals.

3.4: Methods:

The report was created using data by observing various data from 1960 to 2023. We have
observed some information about the “GDP of Bangladesh.” We see the growth of the GDP
rate; we also sometimes see the fall or downward rate of GDP. We have analyzed per capital
income and comparison among the neighboring countries, basically, the comparison between
SAARC countries. This report also contains numerical figures that help us to analyze them
more accurately.

3.5: Conclusion

In this section, we put all the secondary sources and the types of comparison we included in
this report. We have also included the types of data we included. In the next section, we will
see the major data and findings of our report.

Page | 4
 Section: 4
GDP of Bangladesh

4.1: Historical Data of Gross Domestic Product

Gross domestic product forecast the total value of all final goods and services produced in a
particular year. In Bangladesh economy, the GDP is changing over time. Here, is a graph which
shows us the GDP of Bangladesh economy from 1960 to 2022.

GDP
$500.00

$450.00

$400.00

$350.00

$300.00

$250.00

$200.00

$150.00

$100.00

$50.00

$0.00
1988
1986
2022
2020
2018
2016
2014
2012
2010
2008
2006
2004
2002
2000
1998
1996
1994
1992
1990

1984
1982
1980
1978
1976
1974
1972
1970
1968
1966
1964
1962
1960
Source – Bangladesh GDP- Historical Data from www.macrotrends.net

Figure: Gross Domestic Product of Bangladesh

From the graph, we can see in 1960, in pre-independence time, gross domestic product of
Bangladesh was $4.27 billion USD. The next year after independence it was $6.29 billion USD,
what was $8.75 billion in the previous year. In 1975 it was $19.45 billion, in 1980, it became
&18.14 billion, in 1985, it was $22.28 billion, in 1990, it was $31.60 billion, in 2000, it was
$53.37 billion, in 2010, it was $115.28 billion, before Covid-19 pandemic, in 2019, it was
$351.24 billion, after the pandemic, in 2021, it was $416.26 billion and in 2022 it was $460.20
billion USD.

In 2023,

Page | 5
 Year GDP

2023 $1.133 trillion USD

Source: www.worldeconomics.com

4.2: Per Capital Income:

𝑇𝑜𝑡𝑎𝑙 𝐺𝑟𝑜𝑠𝑠 𝐷𝑜𝑚𝑒𝑠𝑡𝑖𝑐 𝑃𝑟𝑜𝑑𝑢𝑐𝑡

Per capita income is the ( ). It indicates the living standard of an
𝑇𝑜𝑡𝑎𝑙 𝑃𝑜𝑝𝑢𝑝𝑎𝑡𝑖𝑜𝑛
economy based on GDP. Here, we will see the historical figure of per capita income in
Bangladesh.

Before independence, most of our people were below the poverty line, we can see before 1965,
it was below $100 dollars. From 1965 to 1971, it was between $101-$128 dollars. In 1972,
after the independence, the economy of Bangladesh had to face a huge crisis. Then per capita
income was $91 dollars. After then, it rose and in 1975 it was $260 dollars. But in 1977 with a
sudden fall, it became $124 dollars. After that it started to rise again but in 1983 again a sudden
fall in GDP happened and became $193 dollars. IN 1990, it became $295 but 1991 again a fall
and it was $285 dollars. After that, no fall happened significantly. In 1996, $387 dollar, in
2000, $413 dollar, in 2007, $552 dollars, in2013, $974 dollars and finally it entered in $1000
in 2014, when it was $1109 dollars. In 2020, it was $2233 dollars, in 2022, $2688 dollars and
in 2023, the GDP was $2528 dollars.

Per Capita Income

$3,000

$2,500

$2,000

$1,500

$1,000

$500

$0
1950 1960 1970 1980 1990 2000 2010 2020 2030

Source – Bangladesh GDP- Historical Data from www.macrotrends.net

Figure: Per Capita Income in Bangladesh

Page | 6
4.3: Comparison Between Growth Rate of Nominal and Real GDP

Nominal GDP:

Nominal GDP is the production of goods and services valued at current price. Here, we will
show the growth rate of nominal GDP from year 2011 to 2022:

Source: www.ceicdata.com

Figure: Nominal GDP of Bangladesh (2011-2022)

We can see in the graph, in 2011 the growth rate of nominal GDP was 14.832%, in 2012 we
can see an increase in the growth rate that was 15.218%, in 2013 we can see a fall in growth
rate and the rate was 13.620% and in 2014 it falls more which was 12.073%. In 2015, the rate
was 12.810%, in 2016, it was 14.320% but in 2017 again it became downward, and the growth
rate become 11.970%, in 2018 the rate was 13.550%. In 2019, it was 11.828% but in covid
pandemic time the rate falls significantly, and it became 7.42%. In 2021 it was 11.346%
and in 2022 12.507%.

Real GDP:

Real GDP is the production of goods and services valued at constant price. Here, we will show
the growth rate of real GDP from year 2011 to 2012:

Page | 7
 Source: www.ceicdata.com

Figure: Real GDP of Bangladesh (2011-2022)

We can see in the graph, in 2011 the growth rate of real GDP was 6.464%, in 2012 we can see
an increase in the growth rate that was 6.521%, in 2013 we can see a fall in growth rate and the
rate was 6.014% and in 2014, it was 6.061%. In 2015, the rate was 6.553%, in 2016, it was
7.113% but in 2017 again it became downward, and the growth rate become 6.590%, in 2018
the rate was 7.319%. In 2019, it was 7.882% but in covid pandemic time the rate falls
significantly, and it became 3.448%. In 2021 it was 6.939% and in 2022 7.001%.

4.4: Contribution of Different Sectors:

Share of three major Share of three major

sectors sector in
in GDP 2000-2001 GDP 2021-2022

Agriculture
25% 12% Agriculture
49% Industry
51% Industry
Service 37%
26% Service

Source: Bangladesh Bureau of Statistics

Figure: Shares of three major sectors in GDP at constant price

Page | 8
The three major sectors contributing to Bangladesh’s GDP are described below:

Agriculture: At early 2000 and before agriculture was playing a large role in the GDP, but it
is seemed to be decreasing year after year. At a constant price the contribution to BD’s GDP
was 25% in 2000-2001 which decreased to 12% in 2021-2022. Major components of
agriculture are crops and horticulture consisting of 11.61% share in agriculture sector in 21-22
fiscal year, animal farming consisting of 5.46%, forest and related services 1.91% and fishing
consisting of 2.53% and lest part are consisted by other components.

Industry: While comparing between the sectors contribution in GDP 2000-01and 21-22,
Industry sector grew massively. The share it had in 2000-01 was 26% and in 2021-22 it was
consisting 37% of the shares, it has increased 11% in these 21 years. Major components of
industry sectors are manufacturing consisting of 24.29% share in 21-22 fiscal year, electricity,
gas, steam, and air conditioning supply consisting of 1.23%, water supply: sewerage, waste
management and remediation activities consisting of .10%, construction industry consisting of
9.54% and lest part are consisted by other components.

Service: Service sector is holding the major shares in GDP, and it is increasing also. In 2000-
2001 fiscal year it was holding 49% shares in GDP, and it increased to 51% in 2021-2022.
Major components of service sectors are Wholesale and retail trade; repair of motor vehicles
and motorcycles consisting of 15.24% share in 21-22 fiscal year, Transportation and storage
consisting of 7.34%, Accommodation and food service activities consisting of 1.08%,
Information and communication consisting of 1.26%, Financial and insurance activities
consisting 5.87%, Real estate activities consisting 8.12%, Professional, scientific and technical
activities .72%, Administrative and support service activities 3.45%, Public administration and
defense; compulsory social security 3.75%, Education consisting 2.69%, . Human health and
social work activities consist of 3.40%, Arts, entertainment and recreation activities consist of
.14%, Other service activities consist of 4.67%.

These are the major contributors to the GDP, Service sectors is holding majority of shares from
the beginning, Industry sectors grew up rapidly and become the second largest shareholder in
GDP, the contribution of Agriculture sector is decreasing, and industry is taking its place.

4.5: GDP Comparison of Bangladesh with SAARC Countries:

The South Asian Association for Regional Cooperation (SAARC) has eight member countries:
Bangladesh, India, Pakistan, Sri Lanka, Afghanistan, Nepal, Bhutan and Maldives. The total
GDP of every country is different from the others because of their different geographical size
and population density. We have collected the GDP for 2019-2022 of these countries to
compare with Bangladesh to see our country’s economic position and development.

Page | 9
 SAARC Countries GDP (In Billion)

Sri
Year Bangladesh India Pakistan Afghanistan Nepal Bhutan Maldives
Lanka
2019 $351.2 $2835.6 $320.9 $89.0 $18.9 $34.2 $2.5 $5.6
2020 $373.9 $2671.6 $300.4 $84.4 $20.1 $33.4 $2.3 $3.7
2021 $416.3 $3150.3 $348.3 $88.5 $14.6 $36.9 $2.5 $5.4
2022 $460.2 $3385.1 $376.5 $74.4 $14.0 $40.8 $2.7 $6.2

Source: www.macrotrends.com

From the graph, we can see that the total GDP of Bangladesh is constantly growing every year.
In 2019, it was $351.2 billion, and it had increased to $460.2 billion in 2022. We know that, in
2020, every country was facing a pandemic situation due to COVID-19. So, it has affected
many countries’ GDP. But Bangladesh had handled it wisely and her GDP was still growing,
unlike other countries in South Asia. As we can see in the graph, the total GDP of India is
larger than other countries because of the geographical size of the country. So, it can’t give us
a better comparison of GDP with other SAARC countries.

SAARC Countries GDP

3500

3000

2500

2000

1500

1000

500

0
Bangladesh India Pakistan Sri Lanka Afganistan Nepal Butan Maldives

2019 2020 2021 2022

Source: https://www.macrotrends.net/

Page | 10
4.6: Per Capita Income of SAARC Countries:

The per capita income of the population of every country can give a better comparison than the
total GDP of Bangladesh and the SAARC countries. In the below chart, we have given the per
capita income of every country.

Per Capita Income

Year Bangladesh India Pakistan Sri Lanka Afghanistan Nepal Bhutan Maldives

2019 $2122 $2050 $1437 $4083 $501 $1186 $3304 $11119

2020 $2233 $1913 $1322 $3852 $517 $1139 $3010 $7282
2021 $2458 $2238 $1505 $3994 $364 $1229 $3266 $10366

2022 $2688 $2389 $1597 $3354 $350 $1337 $3144 $11818

Source: www.macrotrends.com

In the graph, we have provided the per capita income from the year 2019 to 2022. We can see
that the per capita income of the people of Maldives is higher than others and the lowest country
is Afghanistan. The per capita income of Bangladesh in 2019 was $2122, it's above India and
Pakistan, our neighboring country. During the pandemic of 2020, almost every South Asian
country’s per capita income had decreased. But for Bangladesh, it continued to grow to $2233.
In 2021, the per capita of Bangladesh was $2458 and other South Asian countries were also
trying to recover. In 2022, the per capita income of Bangladesh is in 4th place, $2688, which is
above India, Pakistan, Afghanistan, and Nepal. So, overall, our GDP and per capita income are
constantly growing every year.

Per Capita Income

14000

12000

10000

8000

6000

4000

2000

0
2019 2020 2021 2022
Bangladesh India Pakistan Sri Lanka
Afganistan Nepal Butan Maldives

Source: https://www.macrotrends.net/

Page | 11
4.7: GDP Growth Rate of SAARC Countries:

The GDP growth rate is the average annual rate of gross domestic product (GDP) during a
specific period. Below, we have given the GDP growth rate of SAARC countries from the year
2019 to 2022.

GDP Growth Rate

Year Bangladesh India Pakistan Sri Lanka Afghanistan Nepal Bhutan Maldives
2019 7.88% 3.87% 2.50% -0.22% 3.91% 6.66% 5.76% 7.10%
2020 3.45% -5.83% -1.27% -4.62% -2.35% -2.37% -10.01% -33.49%
2021 6.94% 9.05% 6.49% 3.51% -20.70% 4.84% 4.09% 41.75%
2022 7.10% 7.00% 6.19% -7.82% -2.40% 5.61% 5.20% 12.30%

Source: www.macrotrends.com

In the below graph, we can see that in 2019, the GDP growth rate of Bangladesh was 7.88%
which was higher than other SAARC countries that year and Sri Lanka had a negative growth
rate due to bankruptcy of the nation. During the pandemic of 2020, every country of SAARC
was going through a negative growth rate, only Bangladesh had a growth rate of 3.45% which
can be clearly seen in the given graph. Maldives was in more crisis as their economy grows on
tourism. In 2021, Maldives’ growth rate was highest as we can see, and Bangladesh had a
growth rate of 6.94%. then in 2022. Our GDP growth rate was 7.10% which was in 2nd position.
From 2019-2020, Bangladesh didn’t face any negative growth rate. Therefore, from every
graph, we can clearly see that the GDP and our economy are constantly developing.

Page | 12
 Growth Rate
50.00%

40.00%

30.00%

20.00%

10.00%

0.00%
2019 2020 2021 2022
-10.00%

-20.00%

-30.00%

-40.00%

Bangladesh India Pakistan Sri Lanka Afganistan Nepal Butan Maldives

Source: https://www.macrotrends.net/

4.8: Conclusion

In this section, we have found various data regarding our country’s GDP. We showed the
growth, fall, comparison and the effect in economy. We have tried to make this report
informative about the gross domestic product of Bangladesh.

Page | 13
 Section: 5
Conclusion

5.1: Conclusion

We have collected historical data on the GDP of Bangladesh from the years 1960-2022. From
the graph, we have found that the GDP of Bangladesh is growing continuously. Initially, it was
$4.27 billion. Now it has risen to $460.20 billion. Next, we have collected the per capita income
of the people of Bangladesh. Before independence, most of our people were below the poverty
line, we can see before 1965, it was below $100 dollars. Now in 2022, it has become $2688
dollars. We have provided information on the growth rate of nominal and real GDP of
Bangladesh and showed their comparison. As we can see from the given graph, the nominal
GDP is fluctuating as well as the real GDP. During the COVID pandemic in 2020, the growth
rate of nominal and real GDP was at its lowest.

We have provided data on the three major sectors contributing to Bangladesh’s GDP. They are
agriculture, industry, and service. From the year 2000-2001, service had a 49% share of the
GDP contribution, but the agriculture and the industry sectors were almost the same,
respectively 25% and 26%. After two decades, from the year 2021-2022, service had a
contribution of 51% the industry sector had increased rapidly to 37% and agriculture had a
share of 12% contribution in Bangladesh’s GDP.

Subsequently, we have shown the GDP comparison of Bangladesh with other SAARC
countries from the year 2019-2022. But because of the geographical size and population, the
graph does not give an appropriate comparison of the SAARC countries. So, we have provided
the per capita income of the South Asian countries. We can see in the graph that the per capita
income of Bangladesh isn’t fluctuating, instead, it is increasing every year, unlike other
SAARC countries. Even during the pandemic, the per capita didn’t fall. Next, we have
collected data on the GDP growth rate of SAARC countries. As we can see in the graph, some
of the SAARC countries had negative growth rates, some had growth rates at their lowest.
However, Bangladesh had a growth rate in every year from 2019-2022. Even during the
pandemic situation, it had a growth rate because the government handled the situation wisely.
The good news is that the GDP growth rate of Bangladesh was the highest (7.88%) in 2019
compared to other SAARC countries.

Therefore, as a developing country, Bangladesh is growing rapidly in every sector, and they
are contributing to the economic growth. Bangladesh is moving forward every day to improve
the living standards of the people of this country. Like other South Asian countries,
Bangladesh’s GDP is constantly growing every year.

Page | 14
5.2: References
www.macrotrends.net

www.worldeconomics.com

www.ceicdata.com

www.bangaleshbureauofstatistics.com

Page | 15