DECEMBERASIA BUSINESS OUTLOOK4 Leading towards Tailwinds & Headwinds of EconomyVol 01 · Issue 2 - 1 · DECEMBER, 2022 Alok Chaturvedi PublisherEditorial TeamHeena KousarHima P MAvinash BarikHoney KumariManager - DesignPrabhu Dutta A.R.N RayEditorial queries editor@asiabusinessoutlook.comSales Team Vinson Raj Ezekiah S. Edward G Krishna S ShajilalAkshay Pratap SinghTo subscribeVisit www.asiabusinessoutlook.com/subscribe/ or send emailto subscription@asiabusinessoutlook.comMagazine Price is $50 per issueEditor Alok ChaturvediPrinted and Published By Alok Chaturvedi on behalf of Biz Print Media Pvt. Ltd. and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2022 Biz Print Media Pvt. Ltd. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.Senior Designer Rajesh R BVisualizer Varun B Aruna Kumari KGM Sales & Marketing Nagendra Kumar KCirculation Manager P MagendranTo the east of India on the Bay of Bengal, Bangladesh, officially the People's Republic of Bangladesh is a South Asian country marked by lush greenery and many waterways. The country has had a remarkable story of growth and development through poverty risks and instability. To be exact, driven by consumer optimism, innovation in emerging economic sectors and a young engaged workforce, Bangladesh is on course to becoming a $1 trillion economy by 2040, according to Boston Consulting Group.The economy of Bangladesh is $460.75 billion (nominal) as of 2022 estimates. Even though Agricultural sector is still the largest employer in Bangladesh, accounting for 37.6 percent of the total work force and 13.1 percent of the GDP, there are other industry sectors as well, including Textiles (Cotton & jute) & Garments, FMCG (tea processing, sugar), Shipbuilding, Tourism, Information, Communication, Construction (Cement), Engineering (chemical fertilizers, light engineering), and Technology, that reportedly employ 21.4 percent and represent 27.8 percent of GDP. However, COVID-19 was a rough patch for all, the country made it through markedly on the back of a robust demographic dividend, strong ready-made garment (RMG) exports, resilient remittance inflows, and stable macroeconomic conditions. As per Statista, revenue in the Apparel market amounts to $9.34 billion in 2022, and is expected to grow further at a CAGR of 4.31 percent during 2022-27. In this growth, Women's Apparel alone holds a market volume of $4.20 billion in 2022. Further, the Asia-Pacific Geotechnical Engineering & Design Software market size valued at $221.14 million in 2021 is expected to reach $246.80 million in 2022, at a CAGR 11.35 percent, to reach $421.71 million by 2027, as per Research and Market study. There are many well-established and startup companies leading to developmental growth across industry sectors (be it Clothing, Engineering, IT, Manufacturing, or others) adapting to evolving trends and changing technologies, under the aegis of some skilled and agile leaders. And, they certainly need to be applauded for it.Editorial Team
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