Bangladesh

Charting the corporate growth and economic stability of Bangladesh

Bangladesh has made substantial progress in their economic stability quotient with every passing fiscal year and 2017-18 was no different. According to Planning Minister AHM Mustafa Kamal, the country’s per capita income rose to $1,751 while the Gross Domestic Product registered at 7.86% in the mentioned time period.

The country’s meteoric rise  has been possible with the collective efforts of multiple industries and indigenous focus on social changes, resources and secondary industries. Kamal further added that the GDP figure of this fiscal year has involved imperative contributions from industry, agriculture and services sector. The aforementioned sectors registered a GDP growth rate of 12.06%, 4.19% and 6.39% respectively in 2017-18.

As a result, the conglomerate has significantly contributed to the country’s growing GDP, setting a precedent for companies to expand and influence Bangladesh’s economic growth. For 2017-18, the numbers of exports earning stood at $36.66 billion, a 5.8% rise from the previous year.

In addition to that, multiple industries have had a cascading effect contributing to the rise in the country’s export revenue on an annual basis. The garment manufacturing industry with an emphasis on the RMG sector is accountable for a fair share of final export figures. Furthermore, Bangladesh has established their footprint in the international pharmaceutical market as well – which includes four Beximco Pharma products in premier markets like the USA.

The progress of the country has left many critics and analysts dumbfounded. The transformation of the country presents a lot of interesting economic modalities and social implications. Apart from the social changes, the example set by industry leaders like Salman F Rahman, MF Kamal and MD Nurul Islam has made a significant headway into the country’s outlook on development – aligning  the country’s vision of becoming self-sufficient with progress.

The collective and persistent efforts from multiple sectors have given a boost to the growth of Bangladesh by establishing the country’s global presence across the corresponding avenues. The economic progress of the country will certainly be a thing of notice a few years down the line.

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