Bangladesh Industry Sectors

 Since its independence in 1971, Bangladesh has achieved a tremendous growth rate in its industrial production. The economy comprises of a number of Small and Medium Enterprises that make up for 25% of the nation’s Gross Domestic Product (GDP).[br] 

 Since its independence in 1971, Bangladesh has achieved a tremendous growth rate in its industrial production. The economy comprises of a number of Small and Medium Enterprises that make up for 25% of the nation’s Gross Domestic Product (GDP).[br] 

 

The country’s GDP can be divided as follows:

• Agriculture: 18.7%

• Industry: 28.7%

• Services: 52.6% (2009 est.)

Year	Industrial production growth rate	Rank	Percent Change	Date of Information
2003	1.80 %	110		2002 est.
2004	1.90 %	111	5.56 %	2003 est.
2005	6.50 %	55	242.11 %	2004 est.
2006	6.70 %	55	3.08 %	2005 est.
2007	7.20 %	46	7.46 %	2006 est.
2008	8.40 %	35	16.67 %	2007 est.
2009	6.90 %	31	-17.86 %	2008 est.

  

 Bangladesh Industry Sectors: Major Industries 

The following are the major industries in Bangladesh:

 

Agriculture: Approximately 30% of Bangladesh’s GDP comes from agriculture, making it the largest producing economic sector. About 60% of the Bangladeshis work in this sector. It primarily produces jute, rive, wheat, tea, tobacco, pulses and tomato. Agricultural holdings are small in the country. Farmers are increasingly using modern machinery, with the help of cooperatives. One of the main objectives of Bangladesh’s government is to fulfill food requirements of the nation. Unfortunately, due to frequent floods, the economy comes to a halt.

 

Infrastructure: Bangladesh’s economy is characterized by poor infrastructure, weak energy and gas shortages. Due to these disruptions, the economy was unable to achieve its target of 6% growth in GDP in FY2009. Low enthusiasm among the people towards investment is also impeding the country’s economic growth. Some other factors that contribute to poor infrastructure include excess liquidity, the share market and the volatile housing sector.[br]

           

Garment Industry: The garment industry of the country remains the strongest root of its economy, with 76% contribution in its foreign exchange. Approximately, 2.2 million Bangladeshis are employed in this industry, of which 80% are women. In FY2007, a total of US$9.2 billion worth of garments were exported. The figure reached US$12.3 billion in FY09, as was expected. The textile industry is made up of several small- and large-scale, private and public companies. The Unites States is the biggest garment importer for Bangladesh, with $5 billion in imports annually.

 

Health Industry: As of FY2010, the pharmaceutical rating of Bangladesh is 38.5. The sale of pharmaceutical products is expected to mount in the coming decade. It has been envisaged that the sale of over-the-counter (OTC) medications and prescription drugs will increase to US$3.44billion in 2019, from US$1.13bn in 2009. According to a forecast by the Business Monitor International (BMI), exports will overtake imports, reaching US$226.75million and US$166.56million, respectively