Standard of Living: A Study on Bangladesh

Development is any improvement in the standard of living of people in a specific country. Database of World Bank and Bangladesh Bureau of Statistics show that in last sixteen years the GDP growth rate is increasing, except some fluctuation for political instability. In 1990, the GDP growth rate was 5.6 percent and in 2000, its 5.29 percent. It improved in 2015, with the GDP growth rate of 6.55 percent. According to Bangladesh Bureau of Statistics the growth rate of GDP will be 7.05 percent at the end of 2016. Comparative study of GDP growth rate with some neighbor country shows that Bangladesh and India has same GDP growth rate (5.6 percent) in 1990. The GDP growth is fluctuating for both the neighbor country India and Pakistan. The GDP growth rate of India is 7.9 percent and for Pakistan, it¿s 4.24 percent in 2015. Now a day, that GDP growth rate in Bangladesh is lower than India. But, Bangladesh is maintaining continuously improving and stable growth rate in last few years, such as, 5.57 percent, 6.46 percent, 6.52 percent, 6.01 percent, 6.06 percent, 6.55 percent, and 7.05 percent respectively from 2009 to 2016.