Economic Growth and Social Progress: Bangladesh's Pathway to Development

Abstract

Over the last ten years, Bangladesh has grown at an astounding yearly rate of about 7%. As evidenced by the GDP growth from USD 18.14 billion in 1980 to USD 460.2 billion in 2022, the nation is predicted to occupy the 20^th position in the globe by 2037. This short examines Bangladesh's economic growth, which has resulted in notable advancements in social indices. They include increased longevity, a noticeable decline in the death rate among children under five, and notable advancements in gender equality and education. To investigate how Bangladesh's social advancement and economic growth are related, this study will trace the nation's historical path and evaluate the effects of numerous variables, including GDP growth and advancements in social indices. The goal of the study is to shed light on Bangladesh's development-related obstacles. This paper is the outcome of a thorough analysis of academic journals' published scholarly research articles utilizing secondary data sources, the research was carried out utilizing a desk-based methodology. The brief highlights the difficulties facing Dhaka, such as its excessive reliance on the textile industry, energy shortages, and geopolitical complexity that impedes economic advancement, while also emphasizing the crucial role that democracy plays in preserving social cohesion, political stability, and gender equality. These attributes are believed to be crucial for attracting foreign investment and sustaining Bangladesh's economic expansion.