FACTORS AFFECTING GDP GROWTH RATE IN BANGLADESH

Abstract

Bangladesh is known as a developing economy. But almost one-third of the 150 m people living in extreme poverty in Bangladesh. Due to the development of the micro-credit and garment industry, the country has posted GDP growth rates above 5 percent over the past decade. Although the agriculture sector employs three-fifths of Bangladeshi, three-quarters of export revenue comes from the production of ready-made clothing. Overpopulation, poor infrastructure, corruption, political instability and a slow implementation of economic reforms are the major obstacles to sustainable development in Bangladesh. According to a UN report, Bangladesh will be the world's third fastest growing economy to achieve high Gross Domestic Product (GDP) in 2019.