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Published by hayleytrewarn, 2017-04-17 11:58:28

Econ Project

Econ Project try run

Bangladesh

Hayley Trewarn

Contents

Introduction------------------------------3
Economic Structure ---------------------5
Government Involvement---------------6

Tax System------------------------6
Tax Rates--------------------------7
Public vs. privately owned firms-7
National Debt ---------------------8
Import and Exports ---------------8
Government intervention--------9
Supply/demand side policies ----10
Economic Indicators --------------------11
GDP--------------------------------11
Population Levels ----------------12
Population Rates-----------------13
Human Development Index -----14
Literacy Rates--------------------15
Health Education ----------------16
Health Care-----------------------17
Food Dependency ----------------18
Unemployment Rates------------19
Conclusion--------------------------------20

Introduction...

Bangladesh is a small country located
in Southern Asia, near Eastern India.
Its area of 147,570 sq. km., slightly
smaller than the state of Wisconsin,
is bordered by the Bay of Bengal to its
south, India to its north, east and
west, and Burma to its far
southeastern corner. The land in
Bangladesh is mainly made up of a
low-elevation floodplain with few
hilly areas only to the southeast and
northeast. The southeast is made up

of the forested mountains of the Chittagong Hill Tracts. In the southwest
lies marsh-filled mangrove forests known as the Sundarbans. The
Sundarbans are where Bangladesh's national animal, the Royal Bengal
tiger, lives.

The population of Bangladesh is 164.2 million; 2.18% of the world
population. These people are known as Bangladeshis and 98% (106
million) are Bengalis that speak the Bangla or Bengali language. The
name Bangladesh literally means "the land of the Bengali people". The
Bengali language contains 57 letter symbols which evolved from Sanskrit,
the ancient language of Hinduism.

The Bangladeshi culture reflects the religion of its people; Hinduism,
Buddhism, Christianity, and Muslim. Over 60% of Bengalis are Muslim
and as a whole almost 90% of all Bangladeshis practice this, making
Bangladesh one of the largest Muslim countries in the world. About 12%
practice Hinduism, 1% practice Buddhism, and 0.3% are Christian.
These religions are shown in Bangladesh's national holidays; Language

Martyrs Day, Sheikh Mujibur Rahman's
Birthday, Independence Day, Bengali New
Year, May Day, Buddha Purnima, Shab e-
Barat, Night of Destiny, Jumatul Bidah, Eid ul-
Fitr, Janmashtami, National Mourning Day,
Eid ul-Adha, Durga Puja, Ashura, Eid e-Milad-
un Nabi, Victory Day, and Christmas Day.

Bengali New Year (Pohela Bangladeshi religion also influences the
Boishakh), April 14th. Bangladeshi architecture, literature, dance,
drama, music, arts, clothing, and food.

Bangladeshi women usually wear sarees,
clothing that consists of a long piece of cotton
or silk that is wrapped around the body with one
end draped over the head or over one shoulder.
Men usually wear a panjabee, a long shirt that
is knee length or a lungi, angle length skirt.
Children wear the same or similar to adults
clothing.

Food in Bangladesh is often rich with spices and

almost every meal includes rice. Meals also Couple in traditional clothing
include tea. Bangladeshis eat three times a

day. Breakfast is a light meal after their morning prayers. Lunch is the

biggest meal of the day in which some kind of meat and rice dish, plus soup

is served. Supper is served late at night.

Bangladeshi food is very similar to India's as a lot of their food is very spicy.
A typical meal consists of meat, usually beef or fish, vegetables cooked in
spicy sauce, lentils, and plain rice. Because Bangladesh is made up of many
rivers seafood is an easily accessible source of food. Currys are also very
popular. Some important flavors used in almost every meal are garlic,
ginger, lime, coriander, cumin, turmeric and chili as well as cardamom and
cinnamon. Traditional drinks include tea, such as chai, a milky sweet tea,
and lassi, a yoghurt drink.

Shrimp curry Vegetable stand in a downtown
marketplace

Bangladesh not only has a rich culture, but also a rich and diverse
government and economy.

Bangladeshi history...

Bangladesh is a country that has only
been it's own for 46 years.

At the end of World War 2, when the
Indian subcontinent was ruled by the
British, Britain was pressured to
reduce the size of their empire. They
sought to unite the two major religious
groups in the area, Muslims and
Hindus, and create a large Indian
country. The Muslims felt that India
would be dominated by the Hindus and
as it was impossible for the two groups
to agree with one another, Britain
decided to partition the subcontinent.
The area was split into two countries,
India (Hindu) and Pakistan (Muslim).
Pakistan consisted of two areas, West
Pakistan (Punjab) and East Pakistan
(Bengal) that were separated by almost
1,600 km of Indian land. Following this
partition Hindus in Pakistan migrated
into India and Muslims in India
migrated into Pakistan.

Although West and East Pakistan were
both Muslim, they didn't have much in
common. West Pakistan spoke Urdu
and East Pakistan spoke Bangla. They
had different cultural histories and
unequal economies. The country's capital was in West Pakistan and the
east felt as if they were being unfairly run. There was a lot of resentment
from the east because of many reasons but the final blow came when the
government decided that the national language of Pakistan would be Urdu
and only Urdu. Very few people in the east knew how to speak Urdu.

This decidion only added fuel to the fire and it was then that East Pakistan
decided to speak up. In the 1971 national elections, a political party that
promoted seperation of the west and east won the majority. The President
rejected the election result and refused to open the National Assembly.
Riots soon followed and when the independent State of Bangla-desh (desh

meaning country or land) was announced on March 26, 1971, Pakistan sent
their troops to try and stop the uprising.

The resulting war turned out to be one of the shortest and bloodiest of the
century. Any one favoring the seperation was violently attacked by the
Pakistani army. When India entered the fighting in the last few weeks of
the war in order to support the independence of Bangladesh, and Pakistan
in turn attacked the Indian forces, Pakistan found itself being attacked
from every angle. At the end of the nine months of war, December 16, 1971,
Bangladesh became the 139th country in the world. Casualties were
estimated to be around 3 million.

Government Structure:

Bangladesh is a parliamentary democracy influenced by Britain's
government system. The head of government is the Prime Minister
holding executive power. The President is the head of state and is chosen
by Parliment for a 5-year term.

Economic Structure...

In Bangladesh about 56.3% of their GDP
is produced by services (tertiary sector).
This is not reflected in their labor force
as almost half of Bangladeshis are
employed in the primary sector. 40% of
the labor force is employed in services.

Over the last few decades the tertiary Services percentage of GDP
sector has grown by an unbelievable

amount (see chart). In 1975 services made up only 26.4% of the GDP. In 40
years this more than doubled because of increasing tourism, software,
transportation and financial services, and better quality education.

As aforesaid, almost half the labor force, or 47%, is employed in the primary
sector (agriculture). Bangladesh is known as one of the richest agricultural
countries in the world. It produces rice, jute, tea, wheat, sugarcane, potatoes,
tobacco, pulses, oilseeds, spices, fruit, beef, milk, and poultry. Because of the
Bangladesh climate farmers can sometimes grow up to three crops of rice in
one year. Agriculture makes up 15.1% of the GDP and has a growth rate of
Industries or manufacturing, the secondary sector, makes up 28.6% of the
GDP and employs only 13% of the labor force. Industries in Bangladesh
include jute, cotton, garments, paper, leather, fertilizer, iron and steel,
cement, petroleum products, tobacco, pharmaceuticals, ceramics, tea, salt,
sugar, edible oils, soap and detergent, fabricated metal products, electricity,
and natural gas. The growth rate of the secondary sector is 8.4%.

Infrastructure in Bangladesh is very poor; it is ranked 126th out of 133
countries. Bangladesh's capital, Dhaka, has the infrastructure of a tiny town
yet is one of the the ten largest cities in the world with a population of more
than 12 million. Because the monsoon season frequently floods the country it
makes it very difficult and expensive to build, yet alone maintain,
infrastructure. This situation is only made worse by the fact that the
government doesn't have the resources to do so.

Bangladesh is made up of 201,182 km of

Picprimary and secondary roads; only 10%

of these are paved. Hatiya Island, in the
Bay of Bengal, is home to over 300,000
people, has an area of almost 250 miles,
and has only one road. Dhaka is only 7%
covered by roads.

Dhaka city and slums

In 1998, the 12th-longest bridge in the world was the first to be constructed
between the east and west of Bangladesh across the Jamuna river, one of
bangladesh's largest river that divides the country in half. This bridge, the
Jamuna Multipurpose Bridge (Bangobandhu Bridge), cost US $1 billion and
improved infrastructure by increasing the quality and speed of passenger
and freight transportation, transferring electricity and natural gas, and
has integrated the telecommunication link between the east and west. 66%
of all freight and 73% of all passengers are carried by roads but
Bangladesh's traditional animal-driven carts provide the cheapest and
most reliable transportation for people and goods in the rural areas.

32% of Bangladesh is covered by railroads which connect all the important
places in the country. Another very important mode of transport in
Bangladesh is their rivers and canals. During the monsoon season 8372 km
of these waterways are navigable while in the drier seasons only 5200 km.
This is because during the monsoon season (June to October) more than 235
inches of rain can fall in some parts of the country. As many people live in
these low lying areas of the country, boats are their main transportation
especially when their towns are flooded annually.

River transportation Char Dwellers on Jamuna river islands

Government Involvement...

Tax Systems:

There are three types of tax systems; proportional (same tax rate on all
incomes), progressive (the higher the income the higher the tax), and
regressive (the lower the income the higher the tax). The tax system in
Bangladesh is progressive and is split into two types, direct and indirect.
Direct taxes consist of income taxes (income tax, corporation tax, and
agricultural income tax) and property taxes (wealth tax, gift tax, estate
duty, capital gains tax, urban property tax, house rent, land revenue, and
registration and non-judicial stamp).

Tax revenue in Bangladesh for 2016 was ৳182,427 billion and made up about
10% of the GDP. Direct taxes make up less than 1/5 of this amount; indirect

taxes make up the rest.

Tax Rates:

Tax rates in Bangladesh are as follows:

- Income tax (except female taxpayers, senior taxpayers 65 years and

above, retarded taxpayers, and liberation war-wounded gazetted freedom

fighters).

On the first ৳250,000 - 0%

On the next ৳400,000 - 10%

On the next ৳500,000 - 15%

On the next ৳600,000 - 20%

On the next ৳3,000,000 - 25%

Anything over this - 30%

The only difference in the exceptions' tax rates are the tax free income

limits.

Woman and senior taxpayers - ৳300,000

Retarded taxpayers - ৳375,000

Liberation war wounded gazetted freedom fighters - ৳425,000

Another exception is the income tax rate of non-resident foreigners which

is 30% of their total income.

Number of public vs. privately owned firms:

According to opencorporates.com there are 1,447 public firms and 87,100
private firms in Bangladesh. This is almost a 1:60 ratio. A public owned firm
is one that offers some of its stock to the public through shares; an example
of a public firm in Bangladesh is Banglalink Digital Communication
Limited, founded in 1996, which has shares of ৳15 billion or 25%. A privately
owned firm is one that is owned only by the partner/s that run that firm; an
example of a privately owned firm in Bangladesh is You Tailor Bangladesh.
You Tailor Bangladesh was founded in 2016 by Walid Ebna Roshed in the
Gazipur district near Dhaka.

Dhaka, Bangladesh

National Debt:

The national debt in Bangladesh is almost ৳12.5 T or $156 M, $949 per
head. In comparison to other countries Bangladesh has little national debt.
Their percentage of national debt to GDP is only 25.9%, less than a quarter
of what the U.S.'s percentage is.

Government Intervention in the Private Sector:

Bangladesh is one of the most unfree countries in the world. in terms of
economy, as there is a considerable amount of government intervention.
As seen in the chart, on a scale of 0 to 100, Bangladesh's economic freedom
is at almost 55. This means that a little less than half of the private sector is
being regulated by government.

America's index of economic freedom is at 75. The freest country is Hong
Kong with an index of 89.8. Other countries in the top ten freest, from
highest to lowest, are Singapore, New Zealand, Switzerland, Australia,
Estonia, Canada, United Arab Emirates, Ireland, and Chile, all having an
index of over 75. Bangladesh is 128th out of 180.
As Bangladesh is at 55 is is considered mostly unfree. Free is between 80
and 100, mostly free, 70 to 79.9, moderately free 60 to 69.9, mostly unfree 50
to 59.9, and repressed 0 to 49.9.
An example of government intervention in Bangladesh is in the
telecommunication sector, one of the biggest sectors in Bangladesh.

Before liberation, the industry was monopolized by the government. In
shifting from a monopoly to a competitive market, the government began
to regulate the sector by prices and other means of regulation.

Another example of government intervention is in the railway sector.
Bangladesh railway has the monopoly in the market because of the
support of the government. The government is the one who decides the
prices. They have full control over this sector and competition is banned.

Supply/Demand Side Policies:

Add a little bit of body text

Exports: $30.18 billion (2013-2014.):
Bangladesh exports mainly Ready Made Garments
including knit wear (75% of exports revenue). Others
include: Shrimps, Jute Goods (including Carpet), Leather
Goods and Tea.
Imports: $36.99 billion (2013-2014):
Bangladesh imports mostly Petroleum Product and Oil,
Machinery and Parts, Soybean and Palm Oil, Raw
Cotton, Iron, Steel and Wheat.
Imports in Bangladesh increased to BDT 283.29 Billion
($3.57 billion) in October 2016 from BDT 249.22 Billion
($3.146 billion) in September of that year. Imports in
Bangladesh averaged BDT 63.97 Billion($807.70 million)
from 1976 until 2016, reaching an all time high of
BDT 287.67 Billion($3.63 billion in December of 2015
and a record low of BDT 0.57 Billion($7.19 million) in
November 1976.

Economic Indicators...

GDP:

GDP or Gross Domestic Product is value of a country's total output of goods
and services each year. It is also a way to measure a country's economy
and its ranking in the world economy. The GDP of Bangladesh today, for
this year, is almost ৳7,950 billion or $99 billion. In 2015 the GDP was $195
billion and in 2016 the GDP was
almost $209 billion. This means
that the growth rate from 2015
to 2016 was 7.11%. This is
Bangladesh's record high for
GDP growth. Its record low was
4.08 in 1994.

The country's economy was ranked the 58th best economy in the world in
2013 when it had a GDP of about $150 billion. In 2015, with a GDP of $205.3
billion, Bangladesh jumped up to the 44th place. This means that in two
years the Bangladesh economy grew majorly and evidently a lot more
than many other countries as it jumped up fourteen places in the world
economy.

Bangladesh's GDP per
capita was almost $973 in
2015. This is a very small
amount compared to the
GDP per capita in the
world which is $10,057.926.
This means that
Bangladesh's GDP is more than 9,000 dollars behind what the average is.
This also shows that although Bangladesh's GDP is growing quickly,
with a growth rate that is increasing fairly constantly, compared to the
rest of the world it still has a very long way to go.

Bangladesh's GDP makes up .31% of the GDP of the entire world. To show
a comparison, America makes up about 22.5% of global gdp. This shows
that a change in Bangladesh's GDP would not affect the global economy
as much as a change in America's GDP would. A percent as small as .31%
shows that Bangladesh is one of the poorest countries in the world or the
47th most poor. The poorest country is the Central African Republic
which makes up less than .01% of the global economy with a GDP of only
$1.5 billion.

Population Levels:

Population levels are the levels of population over the years.

By population, Bangladesh is the
8th largest country with a
population of over 164 million
and is the 94th largest country in
the world by area. This means
that it has one of the highest
population densities in the world.

Bangladesh is a country which is

steadily growing and by 2045 the

population is projected to be over

200 million. This means that in in Bangladesh population 1950-2099
28 years their population will

have increased by over 20%. In 1961 they were only at a little over 50

million people meaning in 46 years it has more than tripled. By 2054 it is

projected that the population will be at its highest (202.6 million) and will

decrease from then on.

Bangladesh makes up 2.19% of the world's population. America, to give a

comparison, makes up about 4.34%. This means that Bangladesh has a

population of about half of America's and as aforesaid is only slightly

smaller than Wisconsin; this shows that Bangladesh is very densely

populated. The population density of Bangladesh is 1266 people per square

kilometer. The most densely populated country in the world is Monaco

which has a population density of 25,718 people per sq. km. Bangladesh

has the 8th highest population

density, though in terms of mega

countries (population over 100

million), it is the most dense. Its

density is more than five times

that of any other mega country.

It's most densely populated

division is Dhaka in which the Population densities of mega countries
capital Dhaka is located. The

density is 8,111 people per square kilometer. This high density is mainly

because of an increase in job opportunities causing urbanization and rapid

industrialization in the 1990s. 35.6% of Bangladesh's population lives in

urban areas or is urban. 40% of these people live in Dhaka. Of those in

Dhaka almost 40% live in slums.

To show the makeup of the Bangladesh population the male to female
ratio (males per 100 females) in Bangladesh is 100.3. This means that there
is almost an equal amount of males and females. As of 2011, 33.41% of the
population were under 15, 57.03% were in the economically active age
group (15-59), and 7.40% were over 60. The average age is only 26.

Population Rates:

There are many factors that make up a country's population. These
factors are population rates and include birth rates, death rates, and
fertility rates.

Birth Rate:

A birth rate or crude birth rate is the number of births per year per 1,000
people.

The birth rate of Bangladesh is relatively low and is slowly declining. As
of 2014 the birth rate was 19.796. This number is average as the world
birth rate in 2014 was 19.359. Bangladesh is ranked the 76th country with
the highest birth rate. The country with the highest birth rate is Niger
with a birth rate of 46.12; the country with the lowest is Monaco at 6.72.
This further shows that the Bangladeshi birth rate is fairly low.

Bangladesh has come a long way since the 1960s. During the 1960s the
birth rate of Bangladesh was at 49. Niger's was the highest at almost 60
and the lowest, Sweden's, was 13.7.

Death Rate:

A death rate or crude death rate is the number of deaths per year per 1,000
people.

Bangladesh has a very low death rate. It is ranked 173rd out of 224 countries

with a death rate of only 5.4 as of 2014. The country with the highest death

rate is South Africa at 17.49; the lowest is Qatar with 1.53. The average death

rate is 7.748. This further

shows that Bangladesh's death war of independence

rate is lower than average.

In 1960, the death rate in Bangladesh and world death rate comparison (1960-2014)
Bangladesh was 20.258 and
was 2.5 above the average. In
1993, Bangladesh's death rate
met the average death rate of
9.09.

Fertility Rate:

A fertility rate is the average number of births per woman in their
lifetime.

Bangladesh's fertility rate is fairly low and has decreased by a huge
amount over the years. In 1960, the fertility rate was almost 7. As of 2014
the number is 2.175, the world average being 2.453.

One reason for this decrease is the decreasing infant mortality rate. The
infant mortality rate in Bangladesh is fairly high at over 30 deaths per
1,000 live births. In 1960, this number was at 176.3. Because of this large
decrease families are motivated to have less children as more of them
survive. Because of this the fertility rate has decreased and is low.

Human Development Index:

The Human Development Index or HDI is a number between 0 and 1 that is
contrived of life expectancy, education, and per capita income indicators
so that a country can be more easily ranked to show its human
development. There are four tiers of human development that a country
may fall into; very high, high, medium, or low.

As of 2015, Bangladesh's HDI was .579. This means that Bangladesh falls
into the medium human development category and is ranked 139th, tied
with Ghana and Zambia.

As seen in the chart above, Bangladesh has improved over the years. In
1990, their HDI was at .386. Each one of the aspects taken into
consideration when calculating the value increased, each by a significant
amount. Life expectancy by 13.6 years, expected years of schooling by 4.5
years, mean years of schooling by 2.4 years, and GNI per capita by 260%.
This all means that in 25 years Bangladesh's HDI value increased by 150%.

The ten countries with the highest HDI values, in order, are Norway,
Australia, Switzerland, Germany, Denmark, Singapore, Netherlands,
Ireland, Iceland, Canada, and the United States.

Literacy Rates:

A literacy rate is a percentage of the population of an area, aged 15 and
older, that are able to read and write.

The literacy rate in Bangladesh is low but has improved over the years.
According to the 1981 census under 20% of the total population was
counted as literate. In rural areas 17% were literate and in urban areas
35%. The literacy rate in the urban areas had decreased because of urban
migration.

Today more than half of the population is considered literate. As of 2015,
61.5% of the population was considered literate. Of males, 64.6% were
literate and of females, 58.5%. it is ranked the 144th best literacy rate in
the world. The world average is 94.02% meaning Bangladesh's literacy rate
is, in fact, extremely low.

One of the reasons for

Bangladesh's low literacy rates is

the fact that government

expenditure on education is very

low. Only 2% of the GDP is spent

which is lower than most other

countries at similar levels of

development. The government

plans to make education for all practicing the alphabet at a pre-primary
students through 8th grade, free school in Mymensingh.

and compulsory meaning they are planning on spending more towards

ensuring that all students are able to learn. Today 97.9% of children are

enrolled in primary education; 79.6% complete it. In 1981, 67.6% of

children were enrolled in primary education; only 28.5% completed it.

This shows one reason why Bangladesh's literacy rates were so low. With

these higher percentages today, Bangladesh's literacy will increase.

Sample Text in Bangla:

অ◌্য◌াডমি◌ন ক◌াস◌্টম◌াইজড কর◌া য◌াব ◌, অপটি◌ক পর◌্যব ◌ক◌্ষণ
সরবর◌াহক◌ার◌ী। এমনকি◌ খ ◌ল ◌ায◌়◌াড◌়দ ◌র ন◌া শ◌ুধ◌ু উপত◌্যক◌া
ন ◌াটব◌ুক গ◌্রি◌ড। ইইউ ভ ◌াক◌্ত◌া পর◌্যন◌্ত স◌ংরক◌্ষি◌ত, ফ◌ুটবল
ব◌্য◌াস শ◌্র ◌ণ◌ীকক◌্ষ ল◌াগ ◌। জ◌ু◌ঁই উপত◌্যক◌া শ◌ুধ◌ু অর◌্থ◌ায◌়ন।

ব◌ৃহত◌্তম গ◌াজর সদস◌্যর◌া, টম ◌ট ◌া ফ◌ুটবল আগ ◌। প◌াম◌্প
ব◌ৃহত◌্তম শক◌্ত ক◌াগজ ফ◌ুট ◌া। সক◌ার গ◌াজর এব◌ং গ◌াজর
ম◌্য◌াক◌্র ◌া ম ◌কআপ প◌্রভ◌াব। ক◌াল অ◌্য◌াড◌াপ◌্ট◌ার ◌র ব◌াদ এব◌ং
গল◌া, স ◌খ◌ান ◌ শ◌্র ◌ণ◌ীকক◌্ষ। জ◌ীবন ◌র, ইর ◌াস সি◌র◌ামি◌ক

Health Education:

Health Education is teaching individuals or the community about health
and sanity so as to improve people's health and prevent disease, disability
and premature death.

The Bureau of Health Education in Bangladesh, established in 1958, has
done a lot to help and improve the education of health in the country.
Some of the main factors of Bangladeshi health issues are the scarcity of
water, crowding and lack of access to basic services such as water and
sanitation for the urban poor or slum dwellers, and the lack of health
education. Groundwater in most rural areas is contaminated by high
amounts of arsenic which plagues the areas with diseases.

Every year many Bangladeshi

women and children die from

diseases that are curable or

can be prevented. Because of

this the Women's Health

Education (WHE) program was

established to teach women,

mainly those poor in rural

areas, how to prevent and Health workers
treat these health problems

that so often afflict them and their families. To show its success, six

months after completing the program's course, people had retained over

90% of what was taught.

In 1990, 51% of deaths were caused by communicable or infectious

diseases. By 2010, this number was expected to drop to 30%. Non-

communicable diseases in 1990, accounted

for 40% of all deaths and was expected to

be about 59% by 2010. Cancer, a non-

communicable disease, is Bangladesh's

sixth leading cause of death and accounts

for over 150,000 deaths each year.

Bangladesh has one of the worst child

malnutrition burdens in the world. Some

students collapse during school because

of their hunger. Of children between 6

months and 5 years, about half of them

suffer from anemia, one-in-three is Malnourished infant boys in
underweight, and four-in-ten are stunted. Satkhira, Bangladesh

Health Care:

Add a little bit of body text

Food Dependency:

Food dependency is the amount of food a country depends on from other
countries. 1 in 6 people today rely on imports or food from other countries
to feed them.

Bangladesh is increasingly relying on food support from other countries.
As the high population density increases, the amount of agricultural land
becomes more and more limited which cuts back majorly the output of
food and food production.

Unemployment rates:

Add a little bit of body text

Conclusion...


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