Politics slows Bangladesh economy.

In September 2006 the International Monetary Fund (IMF) estimated that economy of Bangladesh would grow 6.2 percent in 2006. What a difference the span of two and a half months makes. On November 28, 2006, The Christian Science Monitor (Boston), reflecting on the havoc wrought by political unrest in Bangladesh, reported, "Bangladesh may also fall short of its economic growth projections of 6.2 percent for this year, economists say."

Times are very difficult for Bangladesh's consumers. Much of the population is desperately poor-an official 2004 estimate of people living on less than us$1.00 a day is 45 percent (CIA World Factbook 2006). The Monitor's poverty estimate is 49.6 percent.

The CIA estimates (FY 1995/1996) that 63 percent of the population works in agriculture. But for many of these farmers there are no jobs until the crops mature. This means they have to travel to the city to find work to feed their families. But the capital city, Dhaka, is in paralysis because of the possibility of violent strife between two major political candidates. Elections are scheduled for January 2007, and in the meantime, industries such as construction and Bangladesh's normally prosperous textile industry cannot find workers to hire.

The Monitor says some textile plants may have to shut down because of the political crisis.

In a report released on December 3, 2005, the Asian Development Bank (ADB)-one of Bangladesh's most vocal supporters in the international financial community-said, "Bangladesh faces several downside risks to its near-to medium-term prospects." The quote appearred in a posting on the Asia Pulse website.

The Asia Pulse posting also said that there were other significant problems. Again citing the ADB report as the source, the website said, "although Bangladesh significantly improved its business-friendly environment for sustaining higher GDP growth, infrastructure needs to catch up with other competing countries."

The IMF estimate for 2007 GDP growth is 6.2 percent. The rate of inflation is should expand 6.1 percent in 2007 after growing 6.8 percent in 2006. The ADB was optimistic reform would continue.

BANGLADESH NEEDS TO DIVERSIFY ITS ECONOMY IN ORDER TO GROW

The population growth rate for Bangladesh is above the regional average, due in part to a birth rate of 27 per thousand inhabitants, which is above the average of 25 per thousand for South Central Asia. Job creation has kept up with growth of the labor force in recent years, according to official statistics. Unemployment is said to be 2.5 percent, but this appears unrealistic based on the country's level of poverty.

Bangladesh's population reached 147-million people mid-2006, which amounted to just under 9 percent of South Central Asia's 1.6-billion inhabitants. According to data released by the Population Reference Bureau (PRB), Bangladesh's population will reach 190-million by 2025. Also, according to that source, Bangladesh is going to have a population of 231-million people in 2050.

The PRB revealed that a low 23 percent of Bangladesh's population lived in urban areas during 2006, and that the country's population density is a very high 2,637 people per square mile. Bangladesh is roughly 10 percent bigger than Greece in land area. But Bangladesh has over 13 times as many people.

The CIA's World Factbook, indicates that 33 percent of Bangladesh's population was birth to 14 years old in 2006, 63 percent was 15 to 64 years old, and 4 percent of the populace was 65 years of age and over.

The CIA estimated that the country's population growth rate was 2.06 percent in 2006. According to the United Nations Population Division, in the year 2050, 22 percent of Bangladesh's population will be birth to 14 years old, while 62 percent will be aged 15 to 59, and 16 percent of the populace will be 60 years of age and over.