Economy
Bangladesh is an impoverished agricultural country that presently depends heavily on foreign aid for survival. When the nation became independent in 1971, after nearly a year of civil war, the economy was in shambles. Farms, factories, and transportation facilities had been damaged or destroyed, and millions of people were homeless and unemployed. In addition, the nation suffered from a severe shortage of educated and trained personnel. Reconstruction and development have been seriously hindered by the size and rapid growth of the population, widespread illiteracy, frequent floods and cyclones, and lack of capital and natural resources.. Yet, today, it is a developing economy, with a growing manufacturing industry, particularly in the field of clothing and textiles.
The fertile soil of Bangladesh is the most important natural resource that the nation prides itself in. Bangladesh was once covered by large forests, however much of this land was cleared in the early 20th century to make more space for agriculture.
which is the most important economic activity of the country, supports about 63 per cent of the people and provides much of the nation's exports. Most of the farmland is used to grow rice, the staple food. In fact, Bangladesh is a world leader in the quantity of rice cultivated. Cultivation is intensive, and the climate is warm, thus normally two or three crops are grown each year. Although rainfall is heavy, it is unevenly distributed throughout the year and irrigation is necessary in some areas.. During the rainy period, rice and other crops that need more water are grown. In the dry months, wheat and other dry crops are cultivated.
Farmlands in Bangladesh are not often owned by the farmers who work on the land. The Bangladeshis practice sharecropping, wherein a farmer grows crops on someone else’s land, and pays the owner with a share of the crops produced.
Bangladesh is one of the world's leading producers of jute; it is the chief cash and export crop and an important source of foreign exchange. Tea is also grown and exported, but does not have a large market because of its relatively low quality. Cash crops produced mainly for domestic use include sugarcane, tobacco, and wheat.
Large numbers of livestock, mostly cattle, goats, water buffalo, and sheep, are raised in Bangladesh. Though generally of poor quality, they are extremely valuable. Some serve as draft and pack animals; others provide milk, butter, meat, wool, and hides and skins.
Fish abound in the rivers, in inland waterways, and in the coastal areas of the Bay of Bengal and are a locally important food. Commercial fishing, of which, shrimp farming has become an important part, is also important.
Jute milling is the largest industry in terms of employment. It was established in the mid 20th century, after the partition of British India into the separate countries of India and Pakistan had cut East Pakistan off from the jute mills in Calcutta. Other significant industries include garment making, which provides the country's chief export, food processing, and the making of chemicals, fertilizer, paper, and cement.. Handcrafted items are a specialty of Bangladesh, being one of its most traditional industries. Cloth is woven by most of these craft workers from cotton, jute or silk. There are others who specialize in a variety of things, such as making embroidered items, leather goods, pottery, or bowls and other items carved from wood, as well as brass, copper, gold or silver articles.
Most of the mills and factories are concentrated in the cities of Dhaka and Chittagong. Many basic consumer goods are made in homes and small shops.
Natural gas and coal are the primary mineral resources produced in Bangladesh. Natural gas and petroleum are found in the northeast of the nation, and in the coastal waters. Limestone is also produced.
The main export of Bangladesh is its clothing, and this accounts for more than half of the country’s income from export. The other products exported by Bangladesh are fish, jute, leather, and tea. The chief imports of Bangladesh include building materials, chemicals, food and food products, machinery, petroleum, textiles, and transportation equipment.
Bangladesh publishes both Bengali and English-language newspapers. There are several government owned radio stations and television stations. As very few families in the rural areas own radios or televisions, people gather in public places for broadcasts. Traditional wired telephones are generally found in the cities. Wireless telephones have also become quite popular, especially in rural areas.
Bangladesh's basic currency unit is the taka.
Rivers and other inland waterways, totaling about 5,200 miles (8,400 km), form the backbone of the nation's transportation system. Passenger and cargo ships traverse river routes between the largest cities and towns. Railways and roads, though of limited mileage, are also important. Chittagong is the principal seaport. Some of the other river ports include Barisal, Chandpur, Dhaka, Khulna, and Narayanganj. There are many airports in Bangladesh, including an international airport at Dhaka. Bangladesh Biman is the national airline.
