CONTRIBUTION OF AGRICULTURE, INDUSTRIES AND SERVICE SECTORTO GDP IN BANGLADESH FROM LATE 1950

CONTRIBUTION OF AGRICULTURE, INDUSTRIES AND SERVICE SECTORTO GDP IN BANGLADESH FROM LATE 1950 TO TILL NOW

GDP or Gross Domestic Product: Gross domestic product refers to the market value of all officially recognized final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country’s standard living.

Economy of Bangladesh is composed of three main sectors 1) Agriculture 2) Industry 3) Service  According to The World Bank the GDP GDP of Bangladesh Bangladesh is $115.6 Billion for the year 2012.

Sector Wise GDP change in percentage:

Year 1941-1950 1951-1960 1961-1970 1971-1980 1981-1990 1991-2000 2001-2010 2011 2012

Sector Wise GDP Change in percentage Agriculture 70% 62% 55% 31.6% 30.3% 25.5% 18.5% 18.3% 17.5%

Industry 4% 5% 10% 20.6% 21.5% 25.3% 28.5% 28.2% 28.5%

Service 26% 33% 35% 47.8% 48.2% 49.2% 53% 53.5% 53.9%

Total 100% 100% 100% 100% 100% 100% 100% 100% 100%

Source: https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html http://data.worldbank.org/country/bangladesh

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80 70 60 50 40

Agriculture

30

Industry Service

20 10 0

Observation: We see the agriculture sector decreasing growth rate during 1941-2011; agriculture sector contributed 70% of total GDP in 1950. Now agriculture sector has decreased to 18% in 2011. It is very catastrophic matter for our country because most of our village people depend on agriculture. Growth rate during 1941- 2011, Industry sector’s contribution has been increasing, t h o u g h very slowly; it has a good impact on our economy and our movement towards the modern fast world. The sector has jumped to 30% from 15% in2001-20011. The Service sector growth rate during 1981- 2000, Service sector’s contribution went higher than average. Now Service sector has decreased to 52% of total G D P , t h o u g h i t h a s d e c l i n e d b u t a g a i n w e a r e v e r y mu c h o p t i m i s t i c a b o u t t h e i n t e n s i f i c a t i o n. I t i s g o o d s i g n f o r o u r c o u n t r y b e c a u s e i n d e v e l o p ed c o u n t r i e s service sector contributes more shares in total GDP than other sectors.

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CONTRIBUTION OF AGRICULTURE, INDUSTRIES AND SERVICE SECTORTO GDP IN Developed Country (USA)

Sector Wise GDP in 2012  Agriculture Industry Services

1.1 % 19.2% 79.7 %

[Source: https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html ]

USA: Sector Wise GDP Share in 2011 Agriculture

Industry

Service

1%

20%

79%

CONTRIBUTION OF AGRICULTURE, INDUSTRIES AND SERVICE SECTORTO GDP IN Developing Country (Malaysia)

Sector Wise GDP in 2012 Agriculture 11.4% Industry 40.2% Services 48.3 % [Source: https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html ]

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Malaysia: Sector Wise GDP share in 2011 Agriculture

Industry

Service

12% 48% 40%

CONTRIBUTION OF AGRICULTURE, INDUSTRIES AND SERVICE SECTORTO GDP IN Wealth Rich Country (Saudi Arabia)

Sector Wise GDP in 2012 Agriculture Industry Services

1.9% 64.8% 33.3%

[Source: https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html ]

Saudi Arabia: Sector Wise GDP share in 2011 Agriculture

Industry 2%

33%

65%

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Service

CONTRIBUTION OF AGRICULTURE, INDUSTRIES AND SERVICE SECTORTO GDP IN Least Developed Country (South Africa)

Sector Wise GDP in 2012 Agriculture Industry Services

2.6% 29.3% 68.1%

[Source: https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html ]

South Africa: Sector Wise Share in 2011 Agriculture

Industry

Service

3%

29%

68%

CONTRIBUTION OF AGRICULTURE, INDUSTRIES AND SERVICE SECTORTO GDP IN SAARC Country (India)

Sector Wise GDP in 2012 Agriculture Industry Services

17.4% 26.1% 56.5%

[Source: https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html ]

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India: Sector Wise GDP Share in 2011 Agriculture

Industry

Service

18%

56%

26%

CONTRIBUTION OF AGRICULTURE, INDUSTRIES AND SERVICE SECTORTO GDP IN China

Sector Wise GDP in 2012 Agriculture Industry Services

10.1% 45.3% 44.6%

[Source: https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html ]

China : Sector Wise GDP Share in 2011 Agriculture

Industry

Service

10% 45% 45%

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Comparison of Sector-wise Contribution towards GDP among Selected Countries:

Country Category

Country Name

Developed Developing Wealth Rich Least developed SAARC Custom

USA Malaysia Saudi Arabia South Africa India China 

Sector-wise Contribution (2012 est.) Agriculture Industry Service 1.1% 19.2% 79.7% 11.4% 40.2% 48.3% 1.9% 64.8% 33.3% 2.6% 29.3% 68.1% 17.4% 26.1% 56.5% 10.1% 45.3% 44.6%

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Bibliography

http://www.indexmundi.com/bangladesh/gdp_composition_by_sector.html https://www.cia.gov/library/publications/the-world-factbook/geos/bg.html https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html http://en.wikipedia.org/wiki/Economy_of_Bangladesh http://www.nationsonline.org/oneworld/least_developed_countries.htm http://en.wikipedia.org/wiki/Developed_country http://en.wikipedia.org/wiki/Developing_country

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