The full form of GDP is gross domestic product. It indicates the economy of the country’s health. Here you will know about the Bangladesh GDP state at different sectors of Bangladesh economy.
What is GDP
Gross domestic product or GDP is the financial value of all goods and services that have been used or completed properly within any time period and border of any country. GDP obtained by the economist. It is actually an annual term. It depends on different governmental issues. Private and public expenditure including export, import, and investment also come within the boundary of GDP calculation.
GDP obtained by the economist. GDP calculation follows a formula.
GDP= C+ G+ I+ NX
Here, C= Private and public expenditure
G= Governmental expenditure
I= Total expenditure on capital of the whole country
NX= related to total export and total import (export-import)
Bangladeshi economy is now taking a turn from agriculture to market and service sector based. Garments and textile departments are helping a lot in exporting zone and foreign exchange incoming zone. Jute fiber helps here a lot. Shipbuilding and pharmaceuticals are important for importing industries. In these days half of the GDP comes from the service sectors. Transporting and communication and energy infrastructure are getting developed. Gas plants are also a big fact in Bangladesh economy.
According to the projection of HSBC in 2012, Bangladesh may be at the 31st largest economy in 2050, if it would be according to total gross domestic product. Bangladesh may be at the 89st largest economy in 2050, if it would be according to per capita. According to 43rd 2012 est. Current GDP is $153.6 billion (nominal) and $ 347 billion (PPP) According to 33rd 2012 est. 17.3% GDP is from agriculture, 28.6% GDP is from industry and 54.1% GDP is from services come according to 2012 est. GDP constant prices is 4337.20 (2013 est.).
GDP growth rate in Bangladesh
GDP growth rate is the change in percentage of the obtained GDP in the certain interval in the definite quarter, compared with the earlier quarter. According to 2013 est. GDP growth rate is 6.7% and GDP annual growth rate is 6.01 (2013 est.).
GDP per capita and sector in Bangladesh
GDP per Capita indicates the standard of living of the population of the country. It is perfectly equal to the GDI (Gross domestic income). According to 150th est. 2013 GDP per capita is $1,044 (nominal) and 145th 2013 est. $ 2,210 (PPP).