GDP growth of Bangladesh and selected countries

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GDP growth of Bangladesh and selected countries

  1. 1. 1 CONTRIBUTION OF AGRICULTURE, INDUSTRIES AND SERVICE SECTORTO GDP IN BANGLADESH FROM LATE 1950 TO TILL NOW GDP or Gross Domestic Product: Gross domestic product refers to the market value of all officially recognized final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country’s standard living. Economy of Bangladesh is composed of three main sectors 1) Agriculture 2) Industry 3) Service According to The World Bank the GDP of Bangladesh is $115.6 Billion for the year 2012. Sector Wise GDP change in percentage: Year Sector Wise GDP Change in percentage Total Agriculture Industry Service 1941-1950 70% 4% 26% 100% 1951-1960 62% 5% 33% 100% 1961-1970 55% 10% 35% 100% 1971-1980 31.6% 20.6% 47.8% 100% 1981-1990 30.3% 21.5% 48.2% 100% 1991-2000 25.5% 25.3% 49.2% 100% 2001-2010 18.5% 28.5% 53% 100% 2011 18.3% 28.2% 53.5% 100% 2012 17.5% 28.5% 53.9% 100% Source: https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html http://data.worldbank.org/country/bangladesh
  2. 2. 2 Observation: We see the agriculture sector decreasing growth rate during 1941-2011; agriculture sector contributed 70% of total GDP in 1950. Now agriculture sector has decreased to 18% in 2011. It is very catastrophic matter for our country because most of our village people depend on agriculture. Growth rate during 1941-2011, Industry sector’s contribution has been increasing, though very slowly; it has a good impact on our economy and our movement towards the modern fast world. The sector has jumped to 30% from 15% in2001-20011. The Service sector growth rate during 1981-2000, Service sector’s contribution went higher than average. Now Service sector has decreased to 52% of total GDP, though it has declined but again we are very much optimistic about the intensification.It is good sign for our country because in developed countries service sector contributes more shares in total GDP than other sectors. 0 10 20 30 40 50 60 70 80 Agriculture Industry Service
  3. 3. 3 CONTRIBUTION OF AGRICULTURE, INDUSTRIES AND SERVICE SECTORTO GDP IN Developed Country (USA) Sector Wise GDP in 2012 Agriculture 1.1 % Industry 19.2% Services 79.7 % [Source: https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html ] CONTRIBUTION OF AGRICULTURE, INDUSTRIES AND SERVICE SECTORTO GDP IN Developing Country (Malaysia) Sector Wise GDP in 2012 Agriculture 11.4% Industry 40.2% Services 48.3 % [Source: https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html ] 1% 20% 79% USA: Sector Wise GDP Share in 2011 Agriculture Industry Service
  4. 4. 4 CONTRIBUTION OF AGRICULTURE, INDUSTRIES AND SERVICE SECTORTO GDP IN Wealth Rich Country (Saudi Arabia) Sector Wise GDP in 2012 Agriculture 1.9% Industry 64.8% Services 33.3% [Source: https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html ] 12% 40% 48% Malaysia: Sector Wise GDP share in 2011 Agriculture Industry Service 2% 65% 33% Saudi Arabia: Sector Wise GDP share in 2011 Agriculture Industry Service
  5. 5. 5 CONTRIBUTION OF AGRICULTURE, INDUSTRIES AND SERVICE SECTORTO GDP IN Least Developed Country (South Africa) Sector Wise GDP in 2012 Agriculture 2.6% Industry 29.3% Services 68.1% [Source: https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html ] CONTRIBUTION OF AGRICULTURE, INDUSTRIES AND SERVICE SECTORTO GDP IN SAARC Country (India) Sector Wise GDP in 2012 Agriculture 17.4% Industry 26.1% Services 56.5% [Source: https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html ] 3% 29% 68% South Africa: Sector Wise Share in 2011 Agriculture Industry Service
  6. 6. 6 CONTRIBUTION OF AGRICULTURE, INDUSTRIES AND SERVICE SECTORTO GDP IN China Sector Wise GDP in 2012 Agriculture 10.1% Industry 45.3% Services 44.6% [Source: https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html ] 18% 26%56% India: Sector Wise GDP Share in 2011 Agriculture Industry Service 10% 45% 45% China : Sector Wise GDP Share in 2011 Agriculture Industry Service
  7. 7. 7 Comparison of Sector-wise Contribution towards GDP among Selected Countries: Country Category Country Name Sector-wise Contribution (2012 est.) Agriculture Industry Service Developed USA 1.1% 19.2% 79.7% Developing Malaysia 11.4% 40.2% 48.3% Wealth Rich Saudi Arabia 1.9% 64.8% 33.3% Least developed South Africa 2.6% 29.3% 68.1% SAARC India 17.4% 26.1% 56.5% Custom China 10.1% 45.3% 44.6%
  8. 8. 8 Bibliography http://www.indexmundi.com/bangladesh/gdp_composition_by_sector.html https://www.cia.gov/library/publications/the-world-factbook/geos/bg.html https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html http://en.wikipedia.org/wiki/Economy_of_Bangladesh http://www.nationsonline.org/oneworld/least_developed_countries.htm http://en.wikipedia.org/wiki/Developed_country http://en.wikipedia.org/wiki/Developing_country

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