CONTRIBUTION OF AGRICULTURE SECTOR IN THE GDP GROWTH OF BANGLADESH

Sushan Chowhan (), Md. Moshiur Rahman, Razia Sultana, Md. Abdur Rouf and Majharul Islam
Additional contact information
Sushan Chowhan: Graduate School of Science and Engineering, Saitama University, Saitama, Japan
Md. Moshiur Rahman: Plant Breeding Division, Bangladesh Institute of Nuclear Agriculture, Sub-station, Satkhira, Bangladesh
Razia Sultana: Department of Agricultural Economics, Bangladesh Agricultural University, Mymensingh, Bangladesh
Md. Abdur Rouf: Horticulture Division, Bangladesh Institute of Nuclear Agriculture, Mymensingh, Bangladesh
Majharul Islam: Department of Soil Science, Bangabandhu Sheikh Mujibur Rahman Agricultural University, Gazipur, Bangladesh

Food and Agri Economics Review (FAER), 2023, vol. 3, issue 2, 63-66

Abstract: There are many sectors and subsectors in a country which runs the wheel of the economy. Gross domestic product or GDP is one of the important most indicator of the economic activity of a country which specially reflects about the size and performance of an economy. Since Bangladesh is an agrarian country it’s economic activities are largely agro based. But, with the pace of industrial revolution share of agriculture in GDP has been changed. Thus, to evaluate the overall changes in GDP from agro sectors and sub sectors and their possible reasons solutions were briefly stated in this review. Notably contribution of GDP from agriculture in current and constant prices over the last 12 years (2010 to 2021) has been following a declining trend. Contrary, the industry sector followed an upward trend but services sector showed a more or less stable trend. Previous five fiscal years (2016-17 to 2020-21) illustrated the reduction of about 1.5% GDP in the agriculture sector at current and constant prices but the growth rate remained in a steady state in both prices. Some key steps for preventing the drop of GDP share from agriculture was noted as- preventing environmental pollution, more emphasis on rural and remote area’s agriculture development, motivation and scope for cultivation of cash/profitable crops and sustainable market linkage development. To boost up the agro economic sector of the country adoption of new improved technology is imperative for the greater agricultural and economic development of the country.

Keywords: Agriculture; Economic Development; GDP Growth; Sectorial Share (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:zib:zbfaer:v:3:y:2023:i:2:p:63-66

DOI: 10.26480/faer.02.2023.63.66

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