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The rapid growth of Bangladesh’s economy, and what comes after

Published on 12:00 AM, February 15, 2024

Azmin Azran

Growth has been the constant in the journey of the Bangladesh economy over the last two decades. Starting from 2004, excluding the outlier year of 2020 when the world economy was severely affected by the Covid-19 pandemic, Bangladesh has maintained a growth rate of over five percent or more. Since 2011, this rate has stayed above six percent as well (excluding 2020), indicating rapid growth that puts Bangladesh in the category of one of the fastest growing economies in the world.

So, what has primarily driven this growth?

The story of economic growth in Bangladesh has two main characters—ready-made garments (RMG) and remittance. Their contribution to the GDP in fiscal year 2023—10.35 percent…

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