Bangladesh Overview: Economy
Bangladesh is one of the world's poorest nations, with overpopulation adding to its economic woes, and it is heavily reliant on foreign aid. The country's economy is based on agriculture. Rice, jute, tea, wheat, sugarcane, and tobacco are the chief crops. Bangladesh is the world's largest producer of jute. Fishing is also an important economic activity, and beef, dairy products, and poultry are also produced. Except for natural gas (found along its eastern border), limited quantities of oil (in the Bay of Bengal), coal, and some uranium, Bangladesh possesses few minerals.
Dhaka and Chittagong (the country's chief port) are the principal industrial centers; clothing and cotton textiles, jute products, newsprint, and chemical fertilizers are manufactured, and tea is processed. In addition to clothing, jute, and jute products, exports include tea, leather, fish, and shrimp. Remittances from several million Bangladeshis working abroad are the second largest source of foreign income. Capital goods, chemicals, iron and steel, textiles, food, and petroleum products are the major imports. Western Europe, the United States, India, and China are the main trading partners.
The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.
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