Wednesday, February 24, 2021

Development of Bangladesh | Top Ten Position in the World | 13 Sectors


Despite being small in size and quite densely populated, Bangladesh has made a Glorious and Enviable position in the World in at least 13 sectors with limited resources in the 50 years since the Independence which indicates Development of Bangladesh. In these sectors, Bangladesh is in the list of top 10 countries in the world. In some cases, Bangladesh has got benefits of nature and geographical location. Most of the success has been achieved by hard work and sincerity of the people of the country.

Some policies and decisions of the Governments of Bangladesh have played an important role in creating such a position worldwide, so has the contribution of the enterprising ordinary people. After the independence, the entrepreneurs have built a strong private sector economy by setting up businesses and industries by facing lots of difficulties and obstacles. Now after 50 years, the world is watching the Development of Bangladesh, Rising Economy of Bangladesh which has achieved by contribution of all. In some cases, the name Bangladesh is marked after big some countries like China and India even first in some cases.

Analyzing the latest data from the Food and Agriculture Organization of the United Nations (FAO), Bangladesh Bank, Department of Agricultural Extension (DAE), Export Promotion Bureau (EPB) and Information and Communication Technology (ICT), Development of Bangladesh has been ranked in the Top 10 in 13 different sectors around the Globe.

 

First in Hilsa (Ilish) production:

Bangladesh accounts for 86% of the total Hilsa produced in the world, which is 5 lac 33 thousand of tons in a year. However, it is believed that the production of Hilsa fish will be 7 lac tons within recent years. Even four years ago, Bangladesh's share in the world's total Ilish production was 65 percent. India is second and Myanmar is third in this sector. Besides, small amount is also produced in Iran, Iraq, Kuwait and Pakistan.

 

First in Jute export, Second in Jute production:

Jute was once known as the Golden Fiber of Bangladesh. Now due to some initiatives taken by the government, Bangladesh has become the first in the world to export jute and jute products. 285 types of products made from jute are now exporting worldwide. Due to recent development of Bangladesh in this sector the country has become the second largest producer of jute in the world. The amount of production is 13 lac 35 thousand tons, which is 42 percent of the total production of the world. India is the first in Jute production which is about 2 million of tons. India accounts for 55% of world production. China is in the third position with 45,000 tons of production.

 

Second in Freelancing or Outsourcing:

Educated youth of the country are now choosing freelance or outsourcing as a profession. Freelancing is the process of concluding work contracts through online with various individuals or organizations and delivering them online. At present, the number of total freelancers in the IT sector in Bangladesh is six lacs, which is about 27 percent of the world's percentage. Due to Development of Bangladesh in this IT sector our country is in the second place. India holds the first position based on the number of freelancers.

 

Second in the Ready-Made-Garments (RMG) Sector:

Bangladesh is now the second largest exporter of readymade garments products in the world. In the last fiscal year 2019-20, Bangladesh exported garments worth USD 27.5 billions, which is 6.8 percent of the world's total garment exports. The RMG sector is playing an important role in the development of Bangladesh economy. China is the first exporter of garments in the world and their share is 30.8 percent. Vietnam is in the third position with 6.2% export share.

 

Second in Jackfruit production:

The world produces 3.7 million tons of jackfruit annually. Bangladesh ranks second in the world in the production of this delicious and healthy fruit. The annual production is 1 million tons. India is the world's largest producer of jackfruit with 1.8 million tons. Indonesia and Thailand holds the third and fourth positions.

 

Second in Goat Milk:

Bangladesh is now self-sufficient in cow and goat production. Bangladesh has taken a place globally by increasing the production of cows and goats. According to the FAO report, Bangladesh has been consistently improving its global index in terms of goat numbers, meat and milk production. In particular, Bangladesh is second in the world in goat milk production and fourth in the world in the number of goats and meat production. India and China are the top two countries in the world in goat production.

 

Third in Freshwater Fish production:

Bangladesh is now the third largest freshwater fish producer in the world. According to the FAO report, despite the poor condition of rivers, the country produces 10 percent of the world's freshwater fish. China is first with 16 percent and India is second with 14 percent production in this sector. According to the FAO, Bangladesh will be the first of the four countries in the world that will achieve huge success in fish farming by 2022 then Thailand, India and China. Fish production has increased by 53 percent in the last 10 years and fish exports have increased by more than 20 percent. By creating huge employment in the rural area this sector is helping the Economy and Development of Bangladesh.

 

Third in Vegetables production:

Bangladesh is the third largest producer of vegetables in the world. The annual production is 16 million tons. In this case, the top position holds by China, the second position by India. Success and diversity in vegetable cultivation has come as a result of private companies inventing and marketing hybrid or high yielding (Ufshi) seeds suitable for year round cultivation. At present, 60 types of vegetables are being produced in the country, with the participation of 16.2 million farmer families.

 

Fourth in Rice production:

The Rice is the main food of Bengalis. After independence, when the total population was 75 million, there was food crisis in the country. We had to continue by importing. But now Bangladesh is self-sufficient in paddy / rice production even after reducing the amount of cultivable land across the country. According to the US Department of Agriculture, Bangladesh produced 52.6 million tons of paddies in the last fiscal year 2019-20, which is the fourth highest in the world. China is the first to produce 148.5 million tonnes, India with 116.4 million tonnes. In a message on the occasion of Krishibids Day on 12 February 2021, Prime Minister Sheikh Hasina said, "The combined efforts of farmers, agriculturists and the current government's favorable agricultural policies and incentives are contributing to the achievement of food self-sufficiency. Land is declining in this densely populated country. Even then, the increase in agricultural production is a surprise to the world.”

 

Sixth in Potatoes:

Bangladesh is now sixth in the world in Potato production. One year before independence, only 9 lac tons of potatoes were produced. Potato production has increased 11 times in last 50 years. According to the FAO estimates, 10.2 million tons of potatoes were produced in the last financial year. China is now the first in the world with 91.4 million tons, and India is second with 49.7 million tons.

 

Eight in Expatriate Income:

More than 10 million Bangladeshis live in different countries of the world, most of whom are workers and labors. They send their hard-earned money to their parents, siblings, wives, sons and relatives in the country. Bangladesh ranks eighth in the world in terms of expatriate income. In the last financial year, the expatriate income or remittance in the country came to about 20 billion dollars. In the same financial year, India is in the first position with 7.8 billion and China is in the second position with 6.7 billion. This foreign remittance is playing a very important role in the economic development of Bangladesh.

 

Eighth in Mango:

Bangladesh is now the eighth largest producer of Mango in the world. The annual production is 2.4 million tons. Before 10 years the position was 10th with 1.25 million tons production. In 2018, Bangladesh rose to the seventh place. India is on top in mango production with a production capacity of 15 million tons. China holds the second place. Now mango is being cultivated all over the country. Himsagar, Gopalbhog, Langra and Fazli mangoes were once cultivated in Rajshahi and Chapainawabganj area. At present, Amrapali mango is being cultivated extensively in the southern and south-western parts of the country.

 

Eighth in Guava production:

Bangladesh is currently ranked at Eighth in the world with 1.05 million tons of Guava production. India is first with 17.6 million tons and China is second with 4.4 million tons. At one time, only local guava was cultivated across the country but the revolution was brought about by Thai variety and Kazi Guava. 10 species of guava have been developed from the Germplasm Center of Bangladesh Agricultural University. Guava is cultivated mainly in the southern and south-western districts of the country.

 

The whole world is watching the development of Bangladesh in various sectors. The pandemic and the global economic crisis have consequently left deep marks on South Asia but Bangladesh, the fastest growing economy in this region, managed to mitigate the decline in the second half of 2020 through recovery in trade and remittances. The economy of Bangladesh is a developing market economy. The production capacity in the above described sectors clearly indicates Sustainable Economic Development of Bangladesh. Once we will hold the position in Top Ten largest economy in the world!

Thanks,

 

Related:

Rice Varieties in Bangladesh | BINA and BRRI

Bangladesh Economy and Industrial Revolution

Bangladesh | Rice Production and Export

About Bangladesh Center of Advance Studies

Local or Deshi Fruits in Bangladesh

Exotic or Foreign Fruits in Bangladesh

Export Products to India is Increasing

Made in Bangladesh Cars | Introducing BANGLA CAR

 

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