Bangladesh

Ahmad & Akhter International Ltd., Bangladesh – Global Accounting Alliance Member

Economic Overview & Business Opportunities

Bangladesh is an Asian country which is bordered by the Indian states of West Bengal to the west and north, Assam to the north, Meghalaya to the north and northeast, and Tripura and Mizoram to the east. Bangladesh shares its south-east boundary with Myanmar. Home to a population of around 175 million, Bangladesh is the world’s eighth most populous country.

Bangladesh is one of the countries in South Asia with a developing economy and democracy. Over the years, Bangladesh has made remarkable progress in reducing poverty, supported by sustained economic growth. As one of the world’s most densely populated countries, the Bangladesh economy is the 41^st largest in the world in nominal terms, and 29^th largest by purchasing power parity (PPP).  In fact, Bangladesh is the birthplace of microfinance banking with credit to the Noble Peace Prize winner Muhammad Yunus. Despite the high poverty rate, the Bangladesh government has put in efforts to increase their people’s quality of life in both economic and social areas.

The economy of Bangladesh revolves basically around the exportation of textile and garments, seafood, fish and agriculture. Garment export is one of the sectors that backbone of Bangladesh’s industry, accounted for more than 80% of total exports. The steady garment export growths combined with remittances from overseas Bangladeshis are the largest contributors to Bangladesh’s economic growth. Foreign investment in Bangladesh has been constantly increasing. Many multinational corporations as well as big players such as Habib Group, KDS Group, Beximco, Square and so on invest in the country. The natural gas sector is one of the main industries that attract foreign investment in Bangladesh. The main investors in the country are China, South Korea, India, Egypt, the United Kingdom, the United Arab Emirates and Malaysia.

As of now, the Bangladesh economy is on a roll. The sustained macro stability, rising reserves and declining interest rates play an important role in stabilizing the economy in the country. If you are considering of expanding your business portfolio in South Asia, Bangladesh has lots to offer.

Mohammad Naser
Precedent & CEO

AHMAD & AKHTAR, Chartered Accountants, Bangladesh

Website: www.aacabd.org