Bangladesh on track to become a top 30 economy: US

[liall]

It is not hedging that is the issue only.

Textiles cannot provide the well-paid jobs needed to move the economy to middle-income stage. It is a low-productivity industry so to speak.

It is indeed low productive industry but it is still more productive than agriculture. The more people you move from agriculture to textile the more will your economy increase. Anyway when you have sufficient number of people in industry you can start moving them to services.

 

[Hassan Guy]

Yo, whabout us?

LMAO G20 is a joke South Africa is in there

 

[Nilgiri]

It is not hedging that is the issue only.

Textiles cannot provide the well-paid jobs needed to move the economy to middle-income stage. It is a low-productivity industry so to speak.

Yah thats basically another reason. But it is a big step up from surplus paddy/farm labour etc....so it will provide a base amount of solid growth if BD has no competitors...up to a point.

I mean what is the average RMG worker daily wage....do you have this data? We can calculate from there.

 

[UKBengali]

Yah thats basically another reason. But it is a big step up from surplus paddy/farm labour etc....so it will provide a base amount of solid growth if BD has no competitors...up to a point.

I mean what is the average RMG worker daily wage....do you have this data? We can calculate from there.

8,000 BD Taka a month on average so that is a little over 100 US dollars.
This would be 6 days a week and so say 25 days a month, so 4 US dollars a day

 

[Nilgiri]

8,000 BD Taka a month on average so that is a little over 100 US dollars.
This would be 6 days a week and so say 25 days a month, so 4 US dollars a day

Are you sure its that low? What is your source for this? This is a 12 hour shift a day?

 

[Homo Sapiens]

Hundreds and thousands of non-textile industries are needed to develop the country to the quite a high stage of economic development. We should not put all our eggs in only one textile basket. Many different primary, secondary and tertiary industries involving steel and oil/gas based petrochemical shall have to be built. To concentrate in textile will backfire because many of the underdeveloped countries are coming up with RMG which will squeeze the profit.

Although there is much scope of improvement,but we are already undertaking some very necessary steps to diversify our export goods.Govt. has set goal of making operational 100 exclusive economic zone all over the country by 2030.But works are moving very rapidly and many predict 100 EEZ may be completed before 2025.Already 25-30 EEZ under construction.These EEZ will create 10 million jobs and will produce hundreds of billions of dollar industrial goods for local consumption and export.

There is a Hi tech park under construction in Gazipur.Our IT sector export expanding at good pace in past years now at more than 400 million dolllar,not much but if you compare with just 5 years ago you can see the rise .Our leather industry already started shifting in Savar leather industrial park.Leather goods export suppressed 1 billion dollar mark and rapidly expanding.Pharmaceuticals and ship building also showing promises.There is a LNG terminal under construction in Chittagong,which can meet the growing need of energy by LNG import.And there is electronics sector.Even 5 years ago most of our household electronic goods were imported from abroad.Now Bangladeshi electronics brand like Walton,MyOne,Marcel,RFL,Jamuna are providing most of the household electronic goods in BD.They are already making strides to penetrate developing countries in Asia and Africa.With time and continued refinement,they may expand many fold in abroad in near future.

But there are also drawback,Our higher education and R&D is not getting the necessary fund it should.Govt. is still mainly focused on primary and secondary education,although primary and secondary education is clearly the priority and we are doing better at spreading education to the grass root level,but the time has come to invest in higher education and R&D.Another drawback is transport infrastructure,we have started taking necessary big infrastructure project only for last 4-5 years,but things are moving very rapidly in this sector too.30 billion dollar upgrade scheme of railway,Padma bridge,Metro rail.underwater tunnel,thousands of km 4 lane highway,expressway project,flyovers are coming very rapidly.I think by 2025,we will see a vastly improved infrastructure in BD.It is true that we are late in infrastructure building but there is a sign that we will be able to gap this void rapidly.There is now a rush to develop infrastructure in the country.

 

[TopCat]

It is indeed low productive industry but it is still more productive than agriculture. The more people you move from agriculture to textile the more will your economy increase. Anyway when you have sufficient number of people in industry you can start moving them to services.

You are right on the money.
In this subcontinent the biggest challenge is not having more money in the pocket but to bring people to civilized behaviour. It is only possible when you bring most of the people in orgranised sector like factory where they get used to laws and civilized way of life.

 

[Acknowledge]

This is good news.

Wish BD all the best and all the speed.

 

[DavidSling]

GDP per capita
$3,840 (PPP) / $1,386.517 (Nominal)[1]
142nd (nominal) / 142nd (PPP)

 

[Nilgiri]

GDP per capita
$3,840 (PPP) / $1,386.517 (Nominal)[1]
142nd (nominal) / 142nd (PPP)

They are talking about the whole economy, not per capita.

 

[DavidSling]

They are talking about the whole economy, not per capita.

And whole economy is nothing to be proud of, cause it's just matter of the number of population.
Would you say that bangladesh has better economy than denmark? no sense

 

[Nilgiri]

And whole economy is nothing to be proud of, cause it's just matter of the number of population.
Would you say that bangladesh has better economy than denmark? no sense

True thats a whole different discussion. With improving GDP rank, GDP per capita rank also improves given BD population growth rate is relatively low.

 

[TopCat]

GDP per capita
$3,840 (PPP) / $1,386.517 (Nominal)[1]
142nd (nominal) / 142nd (PPP)

Kuwait probably has the highest per capita which means nothing either.

 

[Homo Sapiens]

And whole economy is nothing to be proud of, cause it's just matter of the number of population.
Would you say that bangladesh has better economy than denmark? no sense

Luxembourg has per capita 104,359 USD while China only 8,240.So Luxembourg is more important than China?

 

[Michael Corleone]

Currently we are at 44th position.So next 14 years will saw us moving up at least 14 spot.But our target should be to become top 25.By that time G-20 may expand into G-25. So we have a chance to become a member of this elite economic club after 2030.

Isn't bd 37 largest economy now? Read about it somewhere.

K

Kuwait probably has the highest per capita which means nothing either.

Kuwaits economy is collapsing. Mainly due to bringing in migrants for high paid jobs because their own population isn't experienced enough. They give 14 billion dinar in salary to expats and within few years have to borrow from others to pay.