In 1971, Bangladesh appeared as an independent nation, sacrificing millions of lives through a valiant Liberation War. The war left the country with a fragile economy, devastated infrastructure, and countless people were homeless and hopeless.
Rampant diseases, lack of nutrition for children, and starvation compelled Henry Kissinger to slam Bangladesh as a “bottomless basket.” The broken economy of Bangladesh after the war forced the country to rely heavily on foreign aid -- close to 90% -- for the next few years.
However, the development of the country has not stagnated. Recently, Bangladesh has achieved remarkable success in the Millennium Development Goals (MDGs). Citizens of Bangladesh should take pride in such achievements. We must appreciate the economic, social, political, and technological aspects of development since independence.
Bangladesh has experienced phenomenal growth in GDP -- over 7% over the last few years, a rate that continues to grow, when it was negative 5.48% in 1971. Bangladesh has seen steady momentum in the GDP growth of more than 6% consistently over the last decade and more. Bangladesh has also witnessed continuous growth and expansion in industrial exports, remittance, and agricultural production.
The total net export of goods and services was negative 27.62% in 1971 and 2.20% in 2016. As of late, the global market share doubled from the years 1995 to 2016. It is now the world’s second largest apparel exporter after China and the fifth largest recipient of cash remittances from all over the world. The RMG sector, the largest contributor in the economy of Bangladesh, employs about 4 million people, of whom 75% are women.
Poverty remained a topic of discussion for many years, which continued until the last couple of decades. Bangladesh has set a landmark record in poverty alleviation by reducing the level by 24.6% between 2000 to 2016, which accounted for more than 20.5 million people.
Bangladesh has also been praised in the world media for accomplishing outstanding successes in various socio-economic indicators, such as the rate of literacy and life expectancy -- the total adult literacy rate increased from 29.23% to 72.76% from the year 1981 to 2016, and simultaneously, life expectancy increased from 53.92 years to 72.22 years between these years. Meanwhile, education, medical treatment, and awareness of hygiene have been credited for the reduction in infant, child, and maternal mortality rates.
More than 90% of girls were enrolled in primary schools in 2005, and the gross enrollment rate in primary schools was 51.15% in 1971, which almost doubled in 2016. Therefore, there is no doubt that Bangladesh is a shining example of a success story, which has managed to disperse itself far away from the stigma of a “bottomless basket” as once stated by Henry Kissinger.
The steady growth has been nothing short of impressive, and has naturally caught the eyes of international observers (IMF, World Economic Forum, UNDP, World Bank, UNESCO, etc) in the contemporary world. Even in the context of lower global growth, Bangladesh has successfully managed to meet the three eligibility criteria for being a developing nation, and it is a distinction that is fast becoming a reality.
Indeed, it is a great success of the country, and this success will have to be maintained. Therefore, to continue this breakthrough, politicians, policy-makers, regulators, civil society, conscientious people, the judiciary, and all the stakeholders should come forward to work towards the country’s long-term vision and goals.
Muhammad Mehedi Masud is an Assistant Professor at the Department of Development Studies, University of Malaya, Malaysia.
