![]() Bangladesh has pursued export-oriented industrialisation. Agriculture in Bangladesh is supported by government subsidies and ensures self-sufficiency in food production. Remittances from the large Bangladeshi diaspora became a vital source of foreign exchange reserves. By the 1990s, the country had a booming ready-made garments industry. Modern Bangladesh embarked on economic reforms in the late 1970s which promoted free markets and foreign direct investment. Between 19, East Pakistan generated between 70% and 50% of Pakistan's exports. Industrialisation in Bangladesh received a strong impetus after the partition of India due to labour reforms and new industries. Bangladesh is one of the fastest growing economies in the world. In fiscal year 2021–2022, Bangladesh registered a GDP growth rate of 7.2% after the global pandemic. ![]() Bangladesh is a member of the South Asian Free Trade Area and the World Trade Organization. It has been transitioning from being a frontier market into an emerging market. Bangladesh is seen by various financial institutions as one of the Next Eleven. As the second-largest economy in South Asia, Bangladesh's economy is the 37th largest in the world in nominal terms, and 25th largest by purchasing power parity. The economy of Bangladesh is a major developing market economy. All values, unless otherwise stated, are in US dollars.
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