This video for all Economics students looks at prospects for growth and development in Bangladesh.

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VIDEO CHAPTERS
00:00 Introduction
00:59 Quick overview for Bangladesh
01:56 Real GDP growth
03:10 Development progress
08:11 Key economic growth drivers

VIDEO SUMMARY

This video is about the economic growth and development of Bangladesh.

Geoff argues that Bangladesh is a good example of a country that has achieved remarkable progress in recent decades. Bangladesh's GDP per capita income has grown significantly, from $95 in the early 1970s to over $25,000 in 2022 (adjusted for purchasing power parity). The poverty headcount ratio has also declined dramatically, from 33% in 2000 to 5% in 2022. These improvements are due to a number of factors, including strong exportled growth, particularly in the garment sector, and remittances from Bangladeshis working abroad.

However, there are also some challenges to Bangladesh's continued development. The country is highly dependent on a single industry (garments) for exports, which makes it vulnerable to external shocks. Bangladesh also has a low taxtoGDP ratio and limited investment in research and development. These factors could hinder its ability to diversify its economy and move up the value chain.

Another major challenge is climate change. Bangladesh is one of the most vulnerable countries in the world to climate change, due to its low elevation and frequent exposure to flooding and cyclones. Climate change could have a devastating impact on Bangladesh's economy and infrastructure.

Overall, Bangladesh is a country that has made significant progress in recent decades. However, there are still some challenges that need to be addressed in order to ensure continued development.