The Role of Service Industry in the Economic Development of Bangladesh
Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 5, 2012
www.iiste.org
The Comparative Growth of Service Sectors in Bangladesh
Mohammad Shahidul Islam1, Md. Musa2, Rajib Kanti Das3 1. Assistant Professor, School of Business, University of Information Technology and Sciences, 40/1 Jakir Hossain Road, Khulshi, Chittagong, Bangladesh Tel: 88-01190-955692 E-mail:shahidulislam28@yahoo.com 2. Lecturer, School of Business, University of Information Technology and Sciences, 40/1 Jakir Hossain Road, Khulshi , Chittagong, Bangladesh,Tel: 88-01819-619269 . E-mail: musa0999@gmail.com 3. Assistant Professor, Faculty of Business Administration, BGC Trust University Bangladesh * E-mail of the corresponding author: shahidulislam28@yahoo.com Abstract The Economy of Bangladesh is classified into three sectors. Of these, the average contribution of service sector, industry sector, agriculture sector to the GDP are 49.33%, 28.42% and 22.42% respectively. So, the service sectors contribute most of the development of national economy. The research aims are to analyze the comparative contribution of service sector with other sectors, the impact of trade liberalization of service sector and to provide the recommendations for development of service sector. It is taken a sample of ten years data of GDP from 2000-01 to 2009-10 for analyzing the comparison of service sector with other sectors (industry and agriculture). The average growth rates between service sectors and industry sectors or agriculture sector or total GDP are analyzed with‘t’ test. The average growth rate of service sector, inudsty sector, and agriculture sector are 6.17%, 7.49%, 3.21% respectively. The growth of service sector is more than the agriculture sector but less than the industry sector (result of‘t’ test). The paper also reveals that total trade deficit of service is increasing over the year.The average employment of Agriculture, Industry, Service to total
www.iiste.org
The Comparative Growth of Service Sectors in Bangladesh
Mohammad Shahidul Islam1, Md. Musa2, Rajib Kanti Das3 1. Assistant Professor, School of Business, University of Information Technology and Sciences, 40/1 Jakir Hossain Road, Khulshi, Chittagong, Bangladesh Tel: 88-01190-955692 E-mail:shahidulislam28@yahoo.com 2. Lecturer, School of Business, University of Information Technology and Sciences, 40/1 Jakir Hossain Road, Khulshi , Chittagong, Bangladesh,Tel: 88-01819-619269 . E-mail: musa0999@gmail.com 3. Assistant Professor, Faculty of Business Administration, BGC Trust University Bangladesh * E-mail of the corresponding author: shahidulislam28@yahoo.com Abstract The Economy of Bangladesh is classified into three sectors. Of these, the average contribution of service sector, industry sector, agriculture sector to the GDP are 49.33%, 28.42% and 22.42% respectively. So, the service sectors contribute most of the development of national economy. The research aims are to analyze the comparative contribution of service sector with other sectors, the impact of trade liberalization of service sector and to provide the recommendations for development of service sector. It is taken a sample of ten years data of GDP from 2000-01 to 2009-10 for analyzing the comparison of service sector with other sectors (industry and agriculture). The average growth rates between service sectors and industry sectors or agriculture sector or total GDP are analyzed with‘t’ test. The average growth rate of service sector, inudsty sector, and agriculture sector are 6.17%, 7.49%, 3.21% respectively. The growth of service sector is more than the agriculture sector but less than the industry sector (result of‘t’ test). The paper also reveals that total trade deficit of service is increasing over the year.The average employment of Agriculture, Industry, Service to total
References: 182 Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 5, 2012 Kothari, C.R., Research Methodology, 2nd ed., Newdelhi, New Age International Pvt. Ltd., 2005. 47309 2341 34949 6099 24106 9142 8658 7678 22753 163035 Source: Bangladesh Economic Review, 2010 Avg. of subsector growth Source: Bangladesh Economic Review, 2010 183 Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 5, 2012