The economy of Bangladesh is rated as one of the poorest in the area, and most importantly it is thought to be the least powerful in South Asia. According to the most recent rating of the Standard & Poor’s the Bangladesh economy is a BB type of economy which is taken into consideration by those willing to invest in this country. A BB rating usually depicts a fragile economy and is most likely to drive sustainable investments and investors away. In the area, Bangladesh is rated below India but much above Pakistan and Sri Lanka which means that it is not the worst economy in the area but could do much better. For those who care Bangladesh is a developing country with a Bangladesh poverty rate that may exceed one’s expectations. Yet, here is some more information about the economy of Bangladesh which can help people gets a real grip of the quality of life in this country.
The economy of Bangladesh is still attracting investors from different parts of the world and there are various national and international efforts to improve its economic prospects. It is therefore described as a developing country which has however managed to greatly improve its prospects. For instance, it is estimated that in 1988 the country was heavily reliant on foreign grant and loan (about 85%) to only 2% in 2010. Yet, the per capita income in 2010 was 15 times smaller than the world average. However, according to the purchasing power index, the economy of Bangladesh is the 44th largest in the world.
The Bangladesh economy is heavily reliant on the export earnings which mostly come from garment industry. However, more than two thirds of the people in the country are known to be farmers and thus a great part of the economy is also reliant on agricultural products.