What is the type of economy (such as Socialism, Communism, Capitalism) for Bangladesh?

Answer 1

IS CAPITALISM BUT IS NOT SHOWING ON THEIR ECONOMY.

Answer 2

Non-existent

Answer 3

It is semi-capitalism economy with gradual open-market slant is exisitng in Bangladwesh in these days.

Bangladesh has experienced steady economic growth at a rate of approximately five percent annually the past decade. Manufacturing of ready-made garments provides employment for over 2 million people, many of them women, and generates nearly 75 percent of the export earnings of the country.

The discovery of substantial reserves of natural gas in Bangladesh could significantly boost the country's economy and the people's well-being if the reserves are managed carefully.

Annual Real Growth Rate of GDP: 6.3%* (*World Bank Development Indicators Database, April 2006)

Type of Government: Parliamentary Democracy

Source: United States Agency for International Development / Bangladesh, Madani Avenue, Dhaka
Phone: [phone] Fax: [phone]

Despite sustained domestic and international efforts to improve economic and demographic prospects, Bangladesh remains a poor, overpopulated, and inefficiently-governed nation.

Although more than half of GDP is generated through the service sector, nearly two-thirds of Bangladeshis are employed in the agriculture sector, with rice as the single-most-important product.

Major impediments to growth include frequent cyclones and floods, inefficient state-owned enterprises, inadequate port facilities, a rapidly growing labor force that cannot be absorbed by agriculture, delays in exploiting energy resources (natural gas), insufficient power supplies, and slow implementation of economic reforms.

Reform is stalled in many instances by political infighting and corruption at all levels of government. Opposition from the bureaucracy, public sector unions, and other vested interest groups also have blocked progress.

Population: 147,365,352 (July 2006 est.)
Population growth rate: 2.09% (2006 est.)
Life expectancy at birth: total population: 62.46 years

Ethnic groups: Bengali 98%, other 2% (includes tribal groups, non-Bengali Muslims) (1998)

Religions: Muslim 83%, Hindu 16%, other 1% (1998)

Languages: Bangla (official, also known as Bengali), English

Literacy: definition: age 15 and over can read and write
total population: 43.1% [male: 53.9%, female: 31.8% (2003 est.)]

Legal system: based on English common law

Suffrage: 18 years of age; universal

Labor force: 68 million [note: extensive export of labor to Saudi Arabia, Kuwait, UAE, Oman, Qatar, and Malaysia; workers' remittances estimated at $1.71 billion in 1998-99 (2006 est.)]

Agriculture - products: rice, jute, tea, wheat, sugarcane, potatoes, tobacco, pulses, oilseeds, spices, fruit; beef, milk, poultry

Industries: cotton textiles, jute, garments, tea processing, paper newsprint, cement, chemical fertilizer, light engineering, sugar

Oil - consumption: 85,000 bbl/day (2004 est.)

Natural gas - proved reserves: 300.2 billion cu m (1 January 2005 est.)

Natural gas - consumption: 13.1 billion cu m (2004 est.)

Oil - proved reserves: 28.45 million bbl (1 January 2002)

Exports - commodities: garments, jute and jute goods, leather, frozen fish and seafood (2001)

Exports - partners: US 23.6%, Germany 13.5%, UK 9.4%, France 6.4% (2005)

Imports: $13.77 billion (2006 est.)

Imports - commodities: machinery and equipment, chemicals, iron and steel, textiles, foodstuffs, petroleum products, cement (2000)

Imports - partners: India 14.1%, China 13.5%, Kuwait 8.5%, Singapore 6.2%, Japan 4.1%, Hong Kong 4.1% (2005)

Reserves of foreign exchange and gold: $3.278 billion (2006 est.)

Debt - external: $22.55 billion (2006 est.)

Economic aid - recipient: $1.575 billion (2000 est.)

Exchange rates: taka per US dollar - 69.031 (2006), 64.328 (2005), 59.513 (2004), 58.15 (2003), 57.888 (2002)

Fiscal year: 1 July - 30 June