The Bangladesh economy grew by 6.7% in 2005-06, the highest ever save since 1989-90. The growth was stimulated mainly by the manufacturing sector, which grew by 10.4%, the highest since 1997-98. approximately branches of the services sector and the normalization of production in the floriculture sector also contributed to the overall economic growth. On the expect side, a sizeable increase in remittances and exports made a significant contribution to the growth of GDP. In 2005-06, domestic essential outpaced domestic supply. The consumer price inflation during the fiscal rose to 7.0%, 0.56 region points above the inflation rate in 2004-05. While viands inflation increased rapidly, higher oil price and the mental unsoundness in the foreign exchange market were also alpha factors behind the higher inflation rate in 2005-06.
stinting Growth:
The growth rates in different sectors were as under:
Sectors2004-052005-06
Agriculture:2.24.5
Agriculture and Forestry1.84.7
Fisheries 3.73.9
Industry:8.39.6
Mining and quarry8.48.8
Manufacturing8.210.4
Large and medium scale8.311.0
Small scale7.99.0
Power, go down on and Water8.97.7
Construction8.38.4
Services:6.46.5
Wholesale and Retail dole out7.17.3
Hotel and Restaurants7.17.
4
Transport, Storage & Communication 7.98.2
Financial Intermediation8.97.1
Real-estate, Renting & agate line3.73.7
Public Administration & Defense8.08.2
Education7.98.0
Health and social Work7.47.1
Community, Social & Personal Services4.04.1
GDP at producer prices 5.96.9
Import duty6.52.2
GDP growth at constant 1995-96 prices6.06.7
Source: Bangladesh Bank Survey.
Graph 1: Shows, the economic Growth in different Sectors & Years
In terms of US Dollar, the value of GDP in current prices increased by 2.71% to US$ 62021 million in 2005-06 from US$ 60382 million in the preceding year. Per capita GDP stood at US$447 in...If you want to digest a full essay, order it on our website: Orderessay
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