The Mineral Industry Of Other Areas Of The Far East And South Asia - Bangladesh

The only economically important mineral currently produced in Bangladesh was natural gas. Bangladesh was not a world? ranked producer of any mineral commodity, but the possibility of producing and exporting commercial amounts of liquefied natural gas (LNG) was being examined. Proved reserves of natural gas were sufficient to supply most of the country's industrial and domestic heating and electric needs and still support an export-oriented LNG plant. Other mineral production was of virtually no significance to the economy, although there were a few prospects for nonmetallic mineral development. Bangladesh continued to make economic progress during 1978 and into early 1979. Gross domestic product (GDP) at current prices rose from $6.6 billion in 1976-772 to $8.2 billion in 1977?78 and $9.3 billion in 1978.79.2 In fiscal 1979, the economic conditions were favorable until a severe drought hit most of the country. It W88 reported that conditions were the worst in 40 years, and 88 of July 1979, substantial crop losses were predicted. The agricultural sector accounts for over 53% of the GDP and about 75% of all employment. The poor weather will cause economic problems in the form of slower growth, larger trade deficits, and a higher rate of inflation. The 1978.79 statistics showed that real GDP increased just 4%.