Bangladesh officially the People's Republic of Bangladesh is a sovereign state located in South Asia. It is bordered by India and Burma and by the Bay of Bengal to the south. The capital (and largest city) is Dhaka, located in central Bangladesh. The official state language is Bengali. The name Bangladesh means "Country of Bengal" in the official Bengali language.

At April 2010, USA – based ratings agency Standard & Poor's (S&P) awarded Bangladesh a BB- for a long term in credit rating which is below India and well over Pakistan and Sri Lanka in South Asia. And, despite continuous domestic and international efforts to improve economic and demographic prospects, Bangladesh remains a developing nation. However, Bangladesh gradually decreased its dependency on foreign grant and loan from 85% (In 1988) to 2% (In 2010) for its annual development budget. Its per capita income in 2010 was US$641 compared to the world average of $8,985. But, if purchasing power parity (PPP) is taken into account, Bangladesh's economy is the 44th largest in the world at US$257 billion according to the IMF. Jute was once the economic engine of the country.

The country is listed among the Next Eleven economies. It is a founding member of the South Asian Association for Regional Cooperation, the D-8 and BIMSTEC, and a member of the Commonwealth of Nations, the Organisation of Islamic Cooperation and the Non-Aligned Movement. However, Bangladesh continues to face a number of major challenges widespread poverty, and an increasing danger of hydrologic shocks brought on by ecological vulnerability to climate change.

Although two-thirds of Bangladeshis are farmers, more than three quarters of Bangladesh’s export earnings come from the garment industry, which began attracting foreign investors in the 1980s due to cheap labour and low conversion cost. In 2009–10 fiscal year the industry exported US$ 12.6 billion worth of products where in 2002 the exported amount was US$ 5 billion. Recently Bangladesh has been ranked as the 4th largest clothing exporter by the WTO (The World Trade Organization) . whereas, according to The Economist Bangladesh is world’s third-largest clothes-export industry The industry now employs more than 3 million workers, 90% of whom are women. A large part of foreign currency earnings also comes from the remittances sent by expatriates living in other countries.

Bangladesh has seen expansion of its middle class (world's fifty-fourth largest, just below of Singapore & Vietnam), and its consumer industry has also grown. In December 2005, four years after its report on the emerging "BRIC" economies (Brazil, Russia, India, and China), Goldman Sachs named Bangladesh one of the "Next Eleven", along with Egypt, Indonesia, Vietnam and seven other countries. Bangladesh has seen a dramatic increase in foreign direct investment. A number of multinational corporations and local big business houses have made major investments, with the natural gas sector being a priority. In December 2005, the Central Bank of Bangladesh projected GDP growth around 6.5%. In order to enhance economic growth, the government set up several export processing zones to attract foreign investment. These are managed by the Bangladesh Export Processing Zone Authority.

Source: Wikipedia, Economy of Bangladesh.