Bengal was more successful in perpetuating purely silver coinage than Delhi and other contemporary Asian and European governments. The production of silver coins inscribed with the name of the Sultan of Bengal was a mark of Bengali sovereignty. The economy of the Bengal Sultanate inherited earlier aspects of the Delhi Sultanate, including mint towns, a salaried bureaucracy and the jagirdar system of land ownership. The economy faces challenges of infrastructure bottlenecks, bureaucratic corruption, and youth unemployment. China also views Bangladesh as a potential gateway for its landlocked southwest, including Tibet, Sichuan and Yunnan.īangladesh is a member of the D-8 Organization for Economic Cooperation, the South Asian Association for Regional Cooperation, the International Monetary Fund, the World Bank, the World Trade Organization and the Asian Infrastructure Investment Bank. The government promotes the Digital Bangladesh scheme as part of its efforts to develop the country's growing information technology sector.īangladesh is strategically important for the economies of Nepal and Bhutan, as Bangladeshi seaports provide maritime access for these landlocked regions and countries. Offshore exploration activities are increasing in its maritime territory in the Bay of Bengal. Bangladesh also has substantial reserves of natural gas and is Asia's seventh largest gas producer. Bangladesh's telecommunication industry has witnessed rapid growth over the years, receiving high investment from foreign companies. It has also developed self-sufficient industries in pharmaceuticals, steel and food processing. The country has pursued export-oriented industrialisation, with its key export sectors include textiles, shipbuilding, fish and seafood, jute and leather goods. This growth had been largely driven by its exports of ready made garments, remittances and the domestic agricultural sector. In the decade following 2004, Bangladesh averaged a GDP growth of 4.5%. Bangladesh is one of the fastest growing economies in the world and South Asia.
The financial sector of Bangladesh is the second largest in the Indian subcontinent. Dhaka and Chattogram are the principal financial centres of the country, being home to the Dhaka Stock Exchange and the Chattogram Stock Exchange. In the first quarter of 2019, Bangladesh's was the world's seventh fastest-growing economy with a real GDP or GDP at constant prices annual growth rate of 8.3%. It is classified among the Next Eleven emerging market middle income economies and a frontier market. It is the 41st largest in the world in nominal terms or at current prices, and 30th largest by purchasing power parity international dollars at current prices. The Economy of Bangladesh is characterised as a developing market economy. All values, unless otherwise stated, are in US dollars.
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