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Bangladesh

Introduction to Bangladesh

Bangladesh came into existence in 1971 when Bengali East Pakistan seceded from its union with West Pakistan. About a third of this extremely poor country floods annually during the monsoon rainy season, hampering economic development.

Government

Capital:

Dhaka

Independence:

16 December 1971 (from West Pakistan); note - 26 March 1971 is the date of independence from West Pakistan, 16 December 1971 is known as Victory Day and commemorates the official creation of the state of Bangladesh

National holiday:

Independence Day, 26 March (1971); note - 26 March 1971 is the date of independence from West Pakistan, 16 December 1971 is Victory Day and commemorates the official creation of the state of Bangladesh

Economy

Economy overview:

Despite sustained domestic and international efforts to improve economic and demographic prospects, Bangladesh remains a poor, overpopulated, and ill-governed nation. Although half of GDP is generated through the service sector, nearly two-thirds of Bangladeshis are employed in the agriculture sector, with rice as the single-most-important product. Major impediments to growth include frequent cyclones and floods, inefficient state-owned enterprises, inadequate port facilities, a rapidly growing labor force that cannot be absorbed by agriculture, delays in exploiting energy resources (natural gas), insufficient power supplies, and slow implementation of economic reforms. Economic reform is stalled in many instances by political infighting and corruption at all levels of government. Progress also has been blocked by opposition from the bureaucracy, public sector unions, and other vested interest groups. The BNP government, led by Prime Minister Khaleda ZIA, has the parliamentary strength to push through needed reforms, but the party's political will to do so has been lacking in key areas. One encouraging note: growth has been a steady 5% for the past several years. 

GDP:

purchasing power parity - $258.8 billion (2004 est.) 

GDP - composition by sector:

agriculture: 21.7%
industry: 26.6%
services: 51.7% (2004 est.)

Agriculture products:

rice, jute, tea, wheat, sugarcane, potatoes, tobacco, pulses, oilseeds, spices, fruit; beef, milk, poultry

Industries:

cotton textiles, jute, garments, tea processing, paper newsprint, cement, chemical fertilizer, light engineering, sugar

Transportation

Waterways:

8,372 km
note: includes 2,575 km main cargo routes (2004)

Pipelines:

gas 2,016 km (2003)

Ports and harbors:

Chittagong, Dhaka, Mongla Port, Narayanganj

Merchant marine:

total: 40 ships (1,000 GRT or over) 319,897 GRT/440,575 DWT
by type: bulk 2, cargo 24, container 10, passenger 1, petroleum tanker 2, refrigerated cargo 1
foreign-owned: China 1, Singapore 9
registered in other countries: 10 (2003 est.)

Airports:

16 (2003 est.)

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