Contribution of agriculture in the economy of Bangladesh Essay

The prudence of Bangladesh is princip in ally dependent on market-gardening. About 84 portionage of the agree population hold out in rural areas and are straightaway or indirectly engaged in a wide range of coarse activities. The floriculture domain plays a very(prenominal) important role in the providence of the terra firma accounting for 31. 6 portion of chalk up GDP in 1997-98 at constant (1984-85) prices. The husbandry sphere comprises harvest times, forests, fisheries and livestock. Of the rustic GDP, the crop sub- field add ups 71 per cent, forest 10 per cent, fisheries 10 pct and livestock 9 per cent.The domain generates 63. 2% percent of total national employment, of which crop sectors share is nearly 55 %. Agricultural merchandises of primary products constitute 10. 4% of total exports of the country in 1997-98. In the past decade, the agribusiness sector contributed about three percent per annum to the superstar- course of instruction economic c rop rate. The factory farm sector is the single largest contributor to income and employment contemporaries and a spanking element in the countrys challenge to pass on self-sufficiency in sus hug drugance turnout reduce rural poverty and boost sustainable economic development.The Government has therefore accorded highest priority to this sector to enable the country to meet these challenges and to make this sector commercially profitable. Agriculture has been playing a vital role in socio-economic progress and sustainable development through upliftment of rural economy, ensuring nutrient security by attaining autarky in nourishment for thought gains performance, alleviation of poverty and so on. In FY-2004-05, the combined component part of all sub-sectors of agriculture (crop, livestock, forestry and fisheries) to GDP is 21.91 percent (table 7. 2). The crop sub-sector alone is projected to contribute 12. 10 percent to GDP and fisheries sub-sector accounts for 5. 03 pe rcent. Of the total labor force in Bangladesh, 5. 17 percent are engaged in agriculture (BBS labor force survey, 2002-2003). The contribution of agriculture products (including raw jute, jute goods and tea) to the total export of the country is 5. 79 percent (FY2004-2005). In terms of value addition, the contribution of agriculture to the national economy is immense. region of agriculture in GDP.Declining trend of contribution of agriculture sector to the Gross Development Products (GDP) go on in the present outgoing monetary course. The gain of agriculture sector in the GDP has also gone low drastically in the operate three classs. National sparing Survey 2004 showed despite rise in crop merchandise by six lakh careful ton and Taka 300 crore allocation for agricultural subsidy in the financial grade for 2003-04, the contribution of agriculture sector in GDP has declined by 0. 54 percent from the last year. (2002-2003).After the fiscal year 2000-01, crop achievement did not look any significant developing in the last three years resembling the growth during 1996-97 2000-01. Due to high batch of crop performance, total food work rose to 267. 57 lakh calculated unit gobs in the FY 2001-01 from 203. 37 lakh mensural tons. Even in the year of distasteful flood in 1998, food outturn increased by 12 lakh metric tons. Financial course of study Contribution of Agriculture 1991-92 28. 70 1992-93 28. 21 1993-94 27. 30 1994-95 26. 02 1995-96 25. 68 1996-97 25. 87 1997-98 25. 34 1998-99 25. 28 1999-00 25. 58 2000-01 25. 02.2001-02 23. 98 2002-03 23. 47 2003-04 23. 08 2004-05* 21. 91 Fig 1 Contribution of Agriculture in GDP In the last two fiscal years, the food takings has gone down from the take aim in the Fiscal Year 2000-01 (FY 01). though the growth was slightly over one percent this year compared to last year, experts have in mind that the growth was not sufficient in the last three years. Food outturn rose to 273 lakh metric tons i n the current fiscal year (2003-2004). emergence rate in agriculture sector has gone down to 2. 41 percent in the FY 2003-04 from 5. 5 percent in the FY 2000-01.Agriculture growth had witnessed a negative growth of about 0. 6 percent in the following fiscal year 2001-2002. Fig Growth of Agriculture. In the last five years, the highest growth of 6. 9 percent in agriculture sector was achieved during 1999 2000 when the growth in crop production was 8. 1 percent. During the year of negative growth, psyche growth in crop production was also negative 2. 4 percent. Comparatively, when the growth in agriculture sector was the highest during 1999-2000, crop production was also the highest in the last 10 years.In that year, crop production had yielded 8. 1 percent growth. Growth in crop production was much high during FY 00 and FY 01 in the last 10 years. During the FY 01, the growth in crop production was 6. 2 percent. Even in the year of severe flood, growth in crop production was 3. 1 percent. During FY 94, FY 95 and FY 96, the growth in agriculture sector was -0. 7 percent, -1. 9 percent and 2 percent. In FY 97, production started to rise and achieved 5. 6 percent in that year with 6. 4 percent growth in crop production.The trend of food production in the last ten years as charted in the Bangladesh Economic Survey 2004 has projected that food production was stagnating around 190 lakh metric tons from FY 94 FY 96. But from FY 97 to FY 01, food production had increased from 203 lakh metric tons to 267 lakh metric tons. Contribution of Agriculture sub sector on GDP of Bangladesh Total agriculture sector is explained under four sub-sectors.They are- Growth rate in Agricultural area (In percentage) Budget Year Agriculture & antiophthalmic factorForestry Average Fishery Average 1991-92 1. 39 0. 44 8. 24 7. 76 1993-94 -0. 65 0. 44 7. 91 7. 76 1994-95 -1. 93 0. 44 6. 79 7. 76 1995-96 2. 03 0. 44 7. 39 7. 76 1996-97 5. 57 4. 58 7. 67 6. 18 1997-98 1. 63 4. 58 8. 98 6 . 18 1998-99 3. 24 4. 58 9. 96 6. 18 1999-00 6. 92 4. 58 8. 87 6. 18 2000-01 5. 53 4. 58 -4. 53 6. 18 2001-02 -0. 62 1. 67 2. 22 2. 92 2002-03 3. 29 1. 67 2. 33 2. 92 2003-04 4. 38 1. 67 3. 09 2. 92 2004-05 -0. 37 1. 67 4. 02 2. 92 Contribution of each sub-sector in the economy of Bangladesh is discussed below.