Economy of Dhaka

Economy of Dhaka
The location of Dhaka on the map of Bangladesh
Statistics
GDP $95.76 billion (nominal)[1]
GDP per capita
 $4,822 (2013)[2]
Population below poverty line
 16%
Unemployment 19% (2013)[3]
Public finances
Expenses $490 million (DSCC + DNCC)[4]

Dhaka is the commercial centre of Bangladesh. According to Cambridge University's 2014 analysis, the total nominal Gross State Product (GDP) of Dhaka was US$37 billion,[1] accounting for 35% of Bangladesh's economy. Dhaka is also home to major Bangladeshi industrial conglomerates such as Beximco Holdings Limited, Bashundhara Group, Jamuna Group, PRAN-RFL Group, BSRM and Defense Advancement Trading Company (DATCO).[5] Many foreign establishment such as GlaxoSmithKline, Heidelberg Cement, Reckitt Benckiser, HSBC, British American Tobacco, and Nestlé have their regional headquarters located in Dhaka.[6]

During the Mughal Era and Bengal Presidency, Dhaka was the largest economy within the Bengal and Sub-continent region. With a GSP of US$227 billion, Dhaka has the biggest economy among the divisions in Bangladesh.[7] If Dhaka were a nation, it would rank as the 58th largest economy in the world, ahead of neighbouring countries like Sri Lanka, Myanmar, and Nepal. Its 2013 per capita personal income was US$4,822 an increase of approximately 6.0% from 2013, placing it second only behind port city Chittagong.[8]

History

Due to its location right beside some main river routes, Dhaka was an important centre for business. Muslin fabric was produced and traded in this area.[9]

Italian traveller Niccolao Manucci came to Dhaka in 1662–63. According to him, there were only two kuthis (trading posts) – one of the English and the other of the Dutch. Ships were loaded with fine white cotton and silk fabrics.[10]

Citibank regional headquarters in located in Dhaka

Sectors

Top publicly traded companies
in Dhaka for 2015
Beximco
One Bank Limited
Al-Arafah Islami Bank Limited
Prime Bank Limited
United Airways
Mercantile Bank Limited
Beximco Pharma
Summit Power Limited

The manufacture of brick in Dhaka's suburbs, which adds little to gross national product, adds significantly to PM2.5 air pollution.[11]

International trade and other sectors

Dhaka has historically derived significant revenue from International trade, Textile, Pharmachemical and financial institutions. The exports of goods made in Dhaka totalled approximately US$10 billion in 2012, with a rapid growth in Pharmachemical, and IT with 15.68% and 7.28% growth.

See also

References

  1. 1 2 Cambridge Centre for Risk Studies at the University of Cambridge Judge Business School. "Dhaka Factsheet". Lloyd's City Risk Index 2015–2025. Lloy'ds. Retrieved 25 November 2016.
  2. ↑ "Dhaka – World's Largest Metropolitan Cities". Retrieved 29 October 2014.
  3. ↑ "Asian Metropolis: Dhaka" (PDF). Urban. Retrieved 29 October 2014.
  4. ↑ Mollah, Shahjahan (6 July 2014). "Budget for split DCCs Monday, Tuesday". Banglanews24.com. Archived from the original on 10 July 2017. Retrieved 18 February 2015. For the fiscal year 2014-15, the DSCC budget will stand at Tk 1,800 crore while Dhaka North City Corporation would be announced its budget of Tk 2,000 crore.
  5. ↑ "Dhaka Improving Living Conditions of the Poor". Retrieved 29 October 2014.
  6. ↑ "Top 10 Multinational Companies in Bangladesh". www.businesshabit.com. Retrieved 30 December 2015.
  7. ↑ Kabir, Anisul; Parolin, Bruno. "PLANNING AND DEVELOPMENT OF DHAKA – A STORY OF 400 YEARS" (PDF). fau.usp.br. Retrieved 30 December 2015.
  8. ↑ "Dhaka holds opportunity for many" (PDF). World Bank.
  9. ↑ Akter, Sayeeda (3 March 2010). "Economic life carved in history". The Daily Star. Retrieved 30 December 2015.
  10. ↑ Aniruddha Ray. "Manucci, Niccolao". Banglapedia. Retrieved 29 May 2015.
  11. ↑ Sohara Mehroze Shachi (September 5, 2018). "Bangladesh's Air Pollution Problem Grows, Brick by Brick". Undark. Retrieved September 7, 2018. The kiln operations alone — while representing just 1 percent of the country’s GDP — generate nearly 60 percent of the particulate pollution in Dhaka, according to Bangladesh’s Department of Environment (DOE).
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