[Bangladesh National Emblem: The focus is on the water lily pattern, which is the national flower of Bangladesh]
1. Bangladesh, the country of "golden fiber".
The reason why it has such a good reputation is because Bangladesh's jute production ranks second in the world, second only to India, but the total population of Bangladesh is less than 1/8 of India, so Bangladesh has the highest per capita jute production in the world, with a total annual output of about 90-1.2 million tons, which is an important commodity for export and foreign exchange.
【Jute sacks】
Jute fiber is one of the cheapest natural fibers, second only to cotton in terms of global cultivation and functional use. It is a bast fiber along with kenaf, hemp, flax, ramie, etc., and it is a fiber extracted from the inner or outer skin of the plant.
But only jute has the title of "golden fiber", not only because the color of most jute fibers is brown or brown (there are also white or gray), not only good moisture absorption, fast water dispersion, but also has a biodegradable effect, can make sacks, linen, paper, ropes, carpets, curtains, activated carbon, fiberboard, etc., so jute plays an important role in the textile industry and non-woven industry.
[Bangladeshi people are sorting jute]
2. Bangladesh, which has only been established for more than 50 years
Bangladesh was not formally established until January 1972.
With a total area of about 147,600 square kilometers and a total population of about 170 million, Bangladesh is located in the northeast of the southern subcontinent of Asia, which is a delta formed by the alluvial Ganges and Brahmaputra rivers, Bangladesh borders India on the east, west and north, Myanmar in the southeast, and the Bay of Bengal in the south - so Bangladesh also has a coastline of about 550 kilometers long.
【Capital of Bangladesh: Dhaka】
The capital of Bangladesh is Dhaka, located on the north bank of the Briganga River in the Ganges Delta; The largest port city in Bangladesh and the second most populous city in the country is Chittagong City, a natural harbour built in the 16th century.
[Bangladesh's largest port, Chittagong: people at work]
3. How will the economy perform in 2023?
The sovereign currency of Bangladesh is the Bangladeshi taka, and the exchange rate for the whole of 2023 is about: 1 US dollar≈ 106 Bangladeshi taka, 1 yuan≈15 Bangladeshi taka.
(1) Bangladesh's nominal GDP in 2023 will be about Tk 48.55 trillion, up nearly 15% year-on-year.
(2) 2023 is in the stage of dollar appreciation, so if Bangladesh's nominal GDP is calculated according to the dollar, the data is not so good - the total nominal GDP is about 456 billion US dollars, a year-on-year decrease of about 1.1%, and the per capita GDP is about 2,600 US dollars, a year-on-year decrease of about 2.2%.
(3) If calculated in RMB, Bangladesh's total GDP in 2023 will be about 3.3 trillion yuan, and the per capita GDP will be about 19,000 yuan.
[A textile market in Dhaka, the capital of Bangladesh]
Bangladesh's GDP growth rate in 2023 is staggering, close to 15%, which is rare in the world. However, if it is calculated in foreign currencies such as US dollars and RMB, there will be a year-on-year decline.
In addition to the continuous appreciation of major foreign currencies, this also contains a hidden danger in Bangladesh's economic development in 2023:
[A child rocking a boat in Bangladesh]
Fourth, how does it compare with us?
1. Land area:
The total area of Bangladesh is about 147,600 square kilometers, which is only about 1/65 of ours.
With a total area of about 148,600 square kilometers, Liaoning ranks 21st
With a total area of about 140,100 square kilometers, Anhui ranks 22nd
If Bangladesh is included, it can be ranked 22nd, and Anhui will be ranked 23rd.
[In Dhaka, there are many such crowded scenes]
2. Population density:
Bangladesh has a population density of about 1,172 people per square kilometer, and our population density is about 147 people per square kilometer, and Bangladesh is 8 times that of us.
This is a glaring shortcoming of Bangladesh: it is certainly not possible to rely solely on agriculture because of its large populations and lack of land; This is also an obvious advantage of Bangladesh: if it follows the path of industrialization and develops an export-oriented economy, it will at least have a greater advantage in human resources.
This is certainly the best way to do it. Everyone wants to have a large land and a moderate population; developed industry and advanced science and technology; The economy is prosperous and the people are happy. But the problem is that the countries on the planet that can fully achieve these conditions will not be more than a slap in the face.
【Dhaka Streets】
3. Total GDP:
Bangladesh's total GDP is about 3.3 trillion yuan, we are about 12.6 billion yuan, and Bangladesh is 1/38 of ours. If we put Bangladesh into our provinces (autonomous regions, municipalities):
Beijing's total GDP in 2023 will be about 4.4 trillion yuan
Chongqing's total GDP in 2023 will be about 3 trillion yuan
Bangladesh is about 1.1 trillion yuan less than Beijing and about 0.3 trillion yuan more than Chongqing.
【Dhaka Streets】
4. GDP per capita:
Bangladesh's per capita GDP is about 19,000 RMB, and we are about 89,400 RMB, which is 4.7 times that of Bangladesh.
If we put Bangladesh into our provinces (autonomous regions and municipalities): Gansu will have the lowest per capita GDP in 2023, about 48,000 yuan, ranking 31st, but it is still 2.5 times that of Bangladesh.
【A bazaar in Dhaka】
Fifth, on a global scale
1. Total population:
Bangladesh, with a total population of about 173 million, ranks 8th in the world. In seventh place is Nigeria in Africa with a total population of about 230 million and in ninth place is Russia with a total population of about 146 million.
2. Total GDP:
Bangladesh, with a total GDP of about 456 billion US dollars, ranks 32nd in the world. In 31st place is Norway – a country that is certainly significantly ahead by GDP per capita; In 33rd place is the Philippines.
【Chittagong City, Bangladesh's Largest Port City: Local Fish Market】
3. GDP per capita:
Bangladesh, with a per capita GDP of about $2,600, ranks 132nd in the world. No. 131 is Sao Tome and Principe – an island country located in the Gulf of Guinea in Africa, about 200 kilometers from the African continent, consisting of 14 islands including Sao Tome and Principe; At number 133 is Nicaragua – a Central American country with a total population of about 7 million.
[Chittagong: A huge old freighter is slowly being dismantled]
6. Bangladesh's biggest economic feature
Before you know it, Bangladesh has become the third largest economy in South Asia, and the path is similar to ours – if you say that some developing countries, including Bangladesh, have been learning and drawing on our experience, there is nothing wrong with that.
- For example, Bangladesh takes advantage of the geographical location of the Bay of Bengal - the coastal economy
- For example, Bangladesh takes advantage of labor costs - the standard in the early stage of entrepreneurship
- For example, the whole country has been used to lock in and develop the textile and garment industry - like our journey in the international textile industry back then
[A garment factory in Bangladesh in 2021]
In 2022, the output value of the textile industry accounted for about 13% of Bangladesh's GDP; The export value of related products accounts for about 86% of Bangladesh's total export value; Moreover, Bangladesh's share in individual regional markets such as the European Union is even slightly higher than ours.
[A garment factory in Bangladesh in 2021]
1. Raw materials, especially high-end raw materials, mainly rely on imports, no way, high-end raw materials need advanced technology and equipment to support, Bangladesh in this area of "absenteeism" more, want to make up, but it takes time, especially a large amount of foreign exchange funds.
2. The labor cost that was originally advantageous has been changing in recent years, especially the "salary increase". For example, in October 2023, the labor union of the textile and garment industry in Bangladesh proposed to raise the minimum monthly wage to 20,393 taka (about 1,350 yuan), while the vast majority of business owners were only willing to raise the minimum monthly salary to 10,400 taka (about 690 yuan).
Such a large gap is of course impossible to negotiate, so it has triggered a series of strikes and protests, and according to data released by the Bangladesh Ministry of Economy, about 150 textile and garment factories have been closed "indefinitely".
[Textile and garment have become the most employment-absorbing industries in Bangladesh]
There is less arable land per capita, less energy and minerals per capita, and industrialization is not yet complete...... These are very difficult questions, if Bangladesh is blamed for relying too heavily on the textile and garment industry, why not develop high-tech industries? Why not carry out industrial upgrading and technological transformation? Why not develop in the direction of branding and high premium?
[The textile and garment industry is very hard, and it is hard money to earn]
7. Two reference indices
1. Integrity Index Ranking:
Bangladesh ranks 147th in the world's 180 countries (regions) in the corruption index, and Iran also ranks 147th.
It can only be said here that the people of Bangladesh work very hard and live very hard, and if you look at the previous monthly salary requirement - hoping to rise to a monthly salary of about 1,350 yuan, you can know the meaning of this index and the reality behind it.
【Children of Bangladesh】
2. People's happiness index:
Bangladesh ranks 117th in the world's 137 countries (regions), Myanmar in Asia ranks 116th, and Gambia in Africa ranks 118th.
In 2022, for example, the central bank of Bangladesh released data showing that deposits from rural Bangladesh are declining, but the total amount of deposits in the country is increasing - overall savings for the year increased by about 9% year-on-year, of which about 17 trillion taka (about 1.13 trillion yuan) of deposits came from urban areas, at least on the surface, the gap between urban and rural wealth in Bangladesh is widening.
【Ganges River in Bangladesh】
8. What about the economy and trade with us?
Bangladesh officially established diplomatic relations with us in October 1975, which is normal, and Bangladesh was officially established in January 1972. Moreover, everyone knows that Bangladesh has a good relationship with us, and this kind of friendly relations is quite comprehensive, covering almost all aspects of economy, culture, national defense, education, medical care and so on.
【A school in Dhaka, the capital of Bangladesh】
However, there has been a certain decline in the economy and trade in the past two years, taking the economy and trade in 2023 as an example: the total bilateral import and export of goods between Bangladesh and us is about 24 billion US dollars, a decrease of about 3.8 billion US dollars compared with the same period in 2022, a year-on-year decrease of nearly 13%, for no other reason, Bangladesh in 2023 is facing a dilemma of low exchange rate and high inflation, which means that at least a large reduction in imported goods and services.
- 1. Bangladesh exports to us mainly include: leather, cotton textile products, fish food and other commodities.
- 2. Bangladesh imports mainly from China: textiles, mechanical and electrical products, cement and fertilizers, tires, raw silk, corn and other commodities.
[Some people in Bangladesh]
epilogue
In 2023, the total population of Bangladesh has reached about 173 million, an increase of about 10.4‰ year-on-year compared with 2022.
And Bangladesh is really still a "teenager": the average age of the country is only between 27-28 years old, which is "younger" than Pakistan and India. If you compare it with Japan (average age of about 48) and South Korea (average age of about 44) in East Asia, Bangladesh is a hard-working and hard-working young man.
【Traditional river boats in Bangladesh, generally used to receive tourists】
As for the most important problems in the economy, such as inflation, employment, and compensation, Bangladesh is also very nervous and concerned about the inflation rate of nearly 10% in 2023, so it has announced the inflation target for 2024: make every effort to reduce the inflation rate to about 6%.
This is of course very true, and if the salary level continues to rise, if both can be achieved, it will be the best gift for countless hard-working Bangladeshis.
[Dhaka, the capital of Bangladesh: A train is passing through a civilian area]