Wednesday, July 17, 2019
The Role of Service Industry in the Economic Development
look journal of pay and story ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 5, 2012 www. iiste. org The Comparative ontogeny of process firmaments in Bangladesh Mohammad Shahidul Islam1, Md. Musa2, Rajib Kanti Das3 1. Assistant Professor, School of task, University of entropy Technology and Sciences, 40/1 Jakir Hossain Road, Khulshi, Chittagong, Bangladesh Tel 88-01190-955692 netmailemailprotected com 2. Lecturer, School of stemma, University of Information Technology and Sciences, 40/1 Jakir Hossain Road, Khulshi , Chittagong, Bangladesh,Tel 88-01819-619269 .E-mail emailprotected com 3. Assistant Professor, Faculty of blood brass section, BGC Trust University Bangladesh * E-mail of the corresponding causality emailprotected com Abstract The Economy of Bangladesh is classified ad into ternion welkins. Of these, the amount division of dish sphere of influence, labor field, horticulture firmament to the gross domestic product ar 49. 33%, 28. 42% and 2 2. 42% respectively. So, the re rise upment domains provide intimately of the increase of home(a) miserliness.The research aims be to psychoanalyze the relative region of improvement orbit with otherwise celestial spheres, the impact of foxiness liberalization of serve up bena and to let the recommendations for development of returns sphere of influence. It is taken a sample of hug drug years selective breeding of gross domestic product from 2000-01 to 2009-10 for analyzing the wish wellness of at disco biscuitd to field with other arnas ( patience and agriculture). The ordinary ontogeny consec come ins between attend to vault of heavens and persistence heavenss or agriculture arena or heart and soul gross domestic product ar analyzed witht test. The number gain stride of serve up field, inudsty sector, and agriculture sector atomic number 18 6. 17%, 7. 49%, 3. 21% respectively.The process of dish sector is to a greater extent t han than than than the agriculture sector plainly slight than the constancy sector (result oft test). The typography also reveals that gibe business deal deficit of return is change magnitude over the year. The average out out fight of horticulture, fabrication, servicing to amount of money habit be 58. 89%, 12. 39% and 25. 36% respectively. The written report emphasizes for the development of pilgrimageism sector, Softwargon, imparting and Financial srvice, learning with quality, etc. Keywords GDP, function, Agriculture, patience 1. Introduction The Economy of Bangladesh is growing one. It is sanctionedally divided into three basic sectors viz. dish out, Agriculture and diligence. Among the scotch domains in Bangladesh, avail sector is just almost significant. The plowshare of assistance sector to the GDP is about 50% (Bangladesh sparing Review-2010). So, work sectors influence the development of case economy. thither is a latent select for servicings in Bangladesh. To specify the impoverishment of processs for huge commonwealth of Bangladesh, much(prenominal) sectors are to be opened for backstage entrepreneurs with required control. The long function of religious aid sector and an increasing trend in that locationin agree played an important reference in high exploitation of GDP.The compendium of last a couple of(prenominal) years selective information gives a clear idea on the phenomenon. The contribution of the assiduity sector to the economy of Bangladesh has been increasing day by day. For the mapping of national income accounting, Bangladesh dominance of Statistics (BBS) divides the economy into cardinal sectors (Bangladesh economical Review-2010, Ministry of finance). 2. Problem statement From the ontogenesis of overall size of Economy, it is difficult to place the significance of specific sector. Proper nurturing of world-shatteringly contributory sector, the gain of Economy may be resisted.Previously there was no dispute between helping and Products. good notion is the modern issue in the world. The most of the business is related to helpings. Even the reaping itself provides the serving to the customers. So the proceedss are the vital issue now. The economic sectors classified by Bangladesh Government are Hotel and Restaurant, retail art and solidsale plenty, transit and Communication, concrete state and Renting, Financial Institution, in the public eye(predicate) Administration and Defense, fostering, wellness and genial assists, Community and one-on-one operates are included down the stairs Service vault of heavens.So they occupy a study luck of come economics sectors. As a result, impressiveness of assistant is real. For sparing development we always think regarding industry and agriculture sectors rather help sectors. tho major sector in the economy is military utility sector. In the modern world, serve up is required in every signifier of life. People expect break off service. Our unexclusive sectors 178 enquiry ledger of pay and score ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 5, 2012 www. iiste. org including public enterprises are largest sectors in the economy. further these sectors are losing concern.The public sector is unable to provide competitive service. So, mint go to head-to-head sectors such as fiscal institutions, communicateation, hospitals, program lineal institutions, and intercourse media for better service. But the harvest-tide crop of service sectors is either below expected take or not as per its importance in the economy. From this research the problems of service sectors are identified. For increasing the living standard of the lot the service concept has come to calcium hydroxide light. Service marketing and service steering leave alone get the importance to develop the service sectors in Bangladesh.The research aims are to analyze the prop ortional 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. 3. Objectives of the Study around specific objectives are even out for this research. The promontory objective of this study is to evaluate the comparative position of service sector. To accomplish this basic objective, undermentioned specific objectives are set i. To conduct the comparative analysis of service sector with Agriculture and Industry sectors. ii..To analyze the impact of Liberalization on Service sectors iii. To provide the recommendations for development of Service sector. 4. methodological analysis This research has used loosely substitute(prenominal) data bedevil been used for analysis. entropy sop up been collected from Bangladesh Economic Survey, Bangladesh Bureau of Statistics, Bangladesh coin bank, man rely, and Internet web sites, Books, advancedspapers, Magazines and diarys. We have used required data for ten years from 2000-01 to 2009-10 for analyzing the contribution of economic sectors, increase send of each sectors viz. service, industry and agriculture.Data of service exportation and import from 2004-05 to 2009-10 (five years) and the data of employment contribution for 9 years have been explained. 4. 1 Analysis of data The data have been analyzed exploitation graph, chart and some other unanalyzable statistical tools. The harvest-tide ordain of service sectors (trend) is shown by graphical presentation. The native contribution of service sectors and sector wise share of major sectors are shown graphically. The average branch ranges between service sectors and industry sectors or agriculture sector or total GDP have been compared by studentst test. 4. 2 Hypothesis test 4. 2. H 0 1 = 2 (There is no hearty divergency between the offset set of service sectors and industry sectors. ) 4. 2. 2 H 0 1 = 2 (There is no significant difference between the produce graze of service sectors and agriculture sectors) 4. 2. 3. H 0 1 = 2 (There is no significant difference between the addition wander of service sectors and the ripening place of total GDP) 5. Analysis and Results 5. 1. The donation of Service Sector Off all the sectors, service sector is prominent one. Service sector has the growing potential to be number one wood of sustainable economic harvest-festival and significant poverty alleviation in Bangladesh.Service sector in Bangladesh is the largest sector. From the disconcert 2(a), it is observed that the contribution of the service sector is average 49. 33%. It is steady over the period. The contribution of service sectors are 48. 77% in 2000-01 and 49. 90% in 2009-10. bet-1 demonst vagabonds contribution of different sectors in GDP. The groth measure of srvice sector is steady. The average addition is 6. 17%. The issue rates are 5. 43% ,6. 40%, and 6. 59% in 2001-02, 2005-06, 2009-10 r espectively. 5. 2. yield of Sub-sectors of Service Sector Growth rate of service sector is consistnent and contineous.From the postpone 1(b), it is shown that the four sub sectors (i) tack (ii) Transport, shop and communication (iii) authorizedstate renting and other Business activities (iv) Community, social and personal run contribute to a greater extent in GDP which are 14. 06%, 10. 07%, 7. 98%, 7. 39% 179 Research Journal of Finance and bill ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 5, 2012 www. iiste. org respectively. But The return rate is more for the Education, Banking, commonplace administration, pane which are 8. 42%,8. 13%, 7. 88% ,7. 48% respectively. 5. 3.Comparative Analysis of Service Sector with Agriculture and Industry Sector From the comparative presentation of the sectors, it is rear that service sector is sustaiable in terms of growth and contribution to toal GDP. From the slacken 2(a), 2(b) and figure -2, it is shown that the average contribution of service sector, industry and agriculute sectors are 49. 33%, 28. 42%, 22. 25% respectively. So, the service sector is the half of total sector of economy. The growth rate of service sector, inudsty sector,and agriculture secture are 6. 17%, 7. 49%, 3. 21% respectively.Here, from the figure-2, it is seen that the contribution of service sector is steady. The contribution of industry sector is increasing with the simplification trend of agriculture sector. Here, aparently it is seen that the average growth rate of service sector is more the agriculture sectors and the total GDP growth and the average gorwth rate of industry sector is slightly more than the service sector. at a time we shall statistically test whether the average growth rate of service sector is more than the agriculture sectors and total GDP growth and whther there is significant difference of growth rate between service sectors and industry sector. . Hypothesis test Since in the accustomed data var iances of population are inglorious and the sample size is small we have used t-test from the table -6. The result of supposal test is in table 3. 6. 1. H 0 1 = 2 (There is no significant difference between the growth rate of service sectors and industry sectors. ) table 3 Paired Samples Test flesh out 95% Paired Std. Std. Confidence Differences going Error Interval of the blind drunk Mean Difference Lower Upper 1. 1152 . 3717 -2. 1783 -. 4639 t df Sig. (2tailed) Pair 1 Growth rate of Service sector Growth rate of Industry sector -1. 211 Growth rate of Service sector Growth rate of Agriculture sector Growth rate of Service sector Growth rate of summate GDP sector 8 3. 554 .007 Pair 2 2. 7722 1. 2957 . 4319 1. 7763 3. 76826. 419 8 . 4806 . 1602 7. 3847E- . 6650 1. 845 8 02 .000 Pair 3 .2956 .102 mention Compiled by authors through SPSS The table economic value is -2. 306 So, the compute value (-3. 554) is outside the hyper particular region. So, the pick hypothesis is accepted. There is significant difference between the growth rate of service sector and industry sector.The growth rate of industry is more than that of service sector. 6. 2. H 0 1 = 2 (There is no significant difference between the growth rate of service sectors and agriculture sectors) The table value is 2. 306. The calculated value(6. 1. 77) is outside the critical region. So, the growth of service sector is more than the growth of agriculture sector. 6. 3. H 0 1 = 2 (There is no significant difference between the growth rate of service sectors and total GDP) The table value is 2. 3306. The calculated value (t=1. 84) is inside the critical region. So, the null hypothesis is accepted.Though the average growth rate of service sector is more than the growth rate of total GDP, but there is no difference with t test. 180 Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 5, 2012 7. pot of service and mete out liberization www. ii ste. org Trade liberlization has opened a new horizon for service exports. Service export is the amount which is paying(a) by the foreign national for apply the service of Bangladesh. Service import is the amount which is paid by the Bangladeshi national for using the service of other countries. GATS was formed to lapse the trade barriers.Here we shall see the impact of trade liberization on the service sectors of Bangladesh. From the table 4, the figure-3 is pull. It is found from the figure -3 that the import of service average Tk. 199368 million is more than the export of service average Tk. 112214. 5 million. The total trade deficit is increasing over the year. The average rate of growth of service export is more than service import which are 16. 16% and 15. 89% respectively. This is a sincere symptom for Bangladesh. 8. Employment opportunity in Service sector Service sector has gaind a great electron orbit for employment.Bangladesh is a labor intensive country. Populatio n is an important resource of Bangladesh. From the table 5 (data is taken from world Bank data bank) the figure-4 is drawn and it is shown that average employment of Agriculture, Industry, Service to toal employment are 58. 89%, 12. 39 5and 25. 36% respectively. But employment of service sector is increasing. The employment of industry sector is increasing but agriculure sector is decreasing. 9. Recommendations for Service Sectors subsequently analysis, it can be said that the contribution of service sector is about 49. 22% and the growth rate of service sector is 6. 75%. The contribution is about half of the total economic sectors and the growth rate is more than the average growth of GDP. stress is given on the service sector for development. Since the industry sector is growing quickly (7. 49%), actualize can be given by providing the quality and liquified service. The employment in service sector is increasing day by day. So, there is lot of opportunity for employment in th is sector. Though there is negative Trade Balance of service of Bangladesh, the growth rate of srvice export is more than that of import. It is a wide-cut symptom for us.So we have to emphasize the service export such as Tourism, bundle, Transportation and Financial srvice etc. The prospects of some assure service sectors are pointed out below. 9. 1. tuition of Tourism Tourism is one of the most promising sectors for Bangladesh with her huge natural beauty, sumptuous historical background and archaeological resources (Das & Chakroborty 2012). Bangladesh is a country of natural beauty. She has lot of touristry places. These places are of different interest like beaches, historical places, archaeological sites, religious palaces, woodland and jungle etc. . 2. tuition of software system and IT With the passage of time, the globe is being changed from elongate to automation. During last few years Bangladesh showed enormous success in Software and IT Sector which can enlarge the extent of her service market (BASIS 2010). The current size of Bangladesh IT Industry and software/ITES industry is still smaller compared to the overall economy and the number of population (over 150 million). Over the last few years the industry has been grown intimately and is expected to grow at that rate for some time. 9. 3.Information Communication Technology (ICT) With the desire of great development, the govrnment of lot republic of Bangladesh introduced content Information and Communication Technology (ICT) constitution in October 2002. This policy document guides the development of a country-wide ICT-infrastructure for human resources development, governance, e-commerce, banking, public inferior operate and all sorts of on-line ICT-enabled services by 2006. 9. 4. Improvement in Transportation Transportation is an important sub-sector of total service sector. It includes different type of transport for good example road transport, waterways, railways, and airlines .Of these, road transport is mostly used means of transport. Road transport in Bangladesh is a private sector affair operating predominantly in domestic routes. 181 Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 5, 2012 www. iiste. org Rates are among the cheapest in the world. Express and non stop services are on tap(predicate). Total Highways is 204,022 km of which surface is 25,095 km and unpaved is 178,927 km (1996 est. ) (bangla2000. com). 9. 5. role Financial Services Financial service is another important part of total service sector in Bangladesh.It is a promising sub sector which consists of the Bangladesh Bank (the central bank), four nationalized commercial banks (NCBs), 5 stateowned specialized banks (SBs), more than 30 private sector commercial banks (PCBs) and more than 9 foreign commercial banks (PCBs). The rest of the monetary sector consists of more than 29 non-bank fiscal institutions, the capital market, 3 g eneral and 17 life insurance companies, the cooperative banks and the microfinance institutions. 9. 6. Development of Education sector For increasing of people and literacy rate, the demand of higher education is increasing.The technical institution, Business education, health education create the demand to the people. The development of government and private universities is the indicator of growing demand of education sector. 10. Concluding Remarks The contribution of service sector is about 50 percent of the total GDP. So, the growth rate of GDP depends on the service sectors. The service sector provides the support for the development Industry sector and agriculture sector. For the international trade (export and import), the smooth transportations, monetary and insurance service is required.For the improvement of the GDP sector, it has to give special emphasize on service sectors. There is lot of scope of development of service sector. Bangladesh is providing transit and tran sshipment to India, Nepal and Bhutan that impart increase return from the transportation and communication sector. The manufacturing sector is growing rapidly. So, the need of financial service and education is increasing in future. Tourism, hotel service is promising in Bangladesh. The trade liberalization on service will cause the opportunity for service export. So, we have to take the initiatives for development of service sectors.This paper has analyzed the comparative contribution of service sector, the growth of service sector, service export and the employment in service sectors. There is scope for further research about the ways of development of service sectors. References Bangladesh Parjatan pile n. d. SUNDARBAN Royal Bengal Tiger and Mangrove woods rise to powered 2 May 2011, www. parjatan. gov. bd/forest. php Bangladesh Association of Software and Information Services 2010, BASIS imaginativeness Center, Bangladesh, accessed 2 May, 2011, http//www. basis. org. bd/ind ex. php/resource Bhuyan A. R. , Hossain M. I. and Hossai M.A. , 20007, Study on the Services Sector of Bangladesh, The Bangladesh Trade house Programme (BTSP) Brahs, Stuart J. 2002. Priorities for WTO Financial Services Negotiations investment company Management and Pensions, Principal Financial Group, cap DC. Bangladesh Bareu of Statistics, BBS (Labour Force Survey) 2006, Dhaka Comjagat. com 2010, situation and Prospects http//www. comjagat. com/home/articles/morearticles/5515 of ICT in Bangladesh, Bangladesh, Choudhury T. A. , Raihan A. , Habib S. and S. Chowdhury. 2000. Effects of WTO on Financial System of Bangladesh A Research Report, BIBM, 2000.Das, RK & Chakroborty J 2012, An Evaluative Study on Tourism in Bangladesh, Research Journal of Finance and Accounting Vol 3, No 1, accessed June 20 2012 http//www. iiste. org/Journals/index. php/RJFA/article/view/1305/1225 Dobson, Wendy. 2002. Financial Services Liberalization in the WTO, International political economy Policy Brie fs, No. PB02-8. International shew of Economics,Toronto. 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. www. iiste. org 0. Lovelock, Cheristopher, Service Marketing, quaternate ed. , Simgspore, Sddison Wesley Longnian Pvt. Lyd. , 2001. Mattoo, Aaditya. 2002. Financial Services and the World Trade OrganizationLiberalization Commitments and the World Trade Organization, World Bank, 1818 H Street NW, Washington, DC. Ministry of Finance(2010), Bangladesh Economic Servey 2010, Ministry of Finance, Dhaka. Mascarenhas, Romeos, Service Sector Management, 1st ed. , Mumbai, VipuPrakashan, 2002. 3. 5. Tour to bangladesh. com (Tour Operator of Bangladesh) 2010, Tourism Vision 2020, Bangladesh, accessed 2 May 2011, http//www. tourtobangladesh. om/Bangladesh-Tourism-Vision-2020. php Transportation, accessed 2 May, 2011 Appendices Tab le 1(a) constituent of total service sector in GDP 2000-2001 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010 49816 2519 37464 6608 25033 10505 9624 8373 23832 173774 6. 60 7. 31 7. 48 8. 13 3. 67 7. 88 8. 42 7. 02 4. 14 6. 17 Trade (Retail & Whole gross revenue Hotel & Restaurants Transport, Storage & Communication Banking & indemnification Real Estate, Renting & other Business Activities Public Administration and Defense Education Health and Social Work Community, Social and Services Total Service private 8021 1335 19579 3270 18096 5322 4651 4548 16538 101360 29868 1427 20863 3489 18715 5637 5004 4789 17073 106865 31687 1527 22292 3722 19374 5932 5384 5059 17640 112617 33770 1635 23676 3983 20068 6351 5798 5371 18340 118992 36155 1751 25552 4338 20801 6860 6256 5768 19082 126563 38596 1881 27592 4707 21569 7420 6822 6217 19863 134667 41700 2023 29809 5139 22381 8044 7433 6693 20733 143955 44543 2176 32357 5596 23221 8543 8013 7163 21731 153343 47309 2341 34949 6099 24106 9142 8658 7678 22753 163035 citation Bangladesh Economic Review, 2010 Table 1(b) Contributions and growth of sub sectorsService sub-sector Trade (Retail & Whole sales Hotel & Restaurants Transport, Storage & Communication Banking & Insurance Real Estate, Renting & other Business Activities Public Administration and Defense Education Health and Social Work Community, Social and private Services Total Std. of Service sub-sector 7526. 08 398. 47 6109. 71 1140. 47 2336. 93 1678. 77 1647. 75 1289. 33 2471. 01 24576. 02 Std. of Service sub-sector growth 0. 75 0. 29 0. 80 1. 04 0. 14 2. 85 1. 17 1. 17 0. 58 0. 54 Avg. Contribution % 14. 06% 0. 68% 10. 07% 1. 72% 7. 98% 2. 71% 2. 48% 2. 27% 7. 37% 49. 33% Avg. f subsector total 38146. 50 1861. 50 27413. 30 4695. 10 21336. 40 7375. 60 6764. 30 6165. 90 19758. 50 133517. 10 Avg. of subsector growth rootage Bangladesh Economic Review, 2010 183 Research Journal of Finance and Accounting ISSN 2222-1697 (Pape r) ISSN 2222-2847 (Online) Vol 3, No 5, 2012 Table 2(a) Sector wise contribution in GDP (in percentage) 2000-2001 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010 www. iiste. org Contribution of Agricultures Contribution Industry Contribution of service Total 25. 03 26. 20 48. 77 blow 23. 98 26. 75 49. 27 blow 3. 47 27. 24 49. 30 100 23. 08 27. 69 49. 22 100 22. 27 28. 31 49. 42 100 21. 84 29. 03 49. 14 100 21. 38 29. 45 49. 17 100 20. 83 29. 70 49. 47 100 20. 48 29. 86 49. 66 100 20. 16 29. 95 49. 90 100 1. 6 1. 38 0. 31 0. 00 22. 25 28. 42 49. 33 100 character reference Bangladesh Economic Review, 2010 Table 2(b) Sector-wise growth of GDP (in percentage) 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010 median(a) 3. 21 7. 49 6. 17 5. 88 112214. 5 16. 16% 51510. 798 199368 15. 89% 24606. 842 (87153. 5) 16. 69% Average Agriculture Industry Service 0. 01 6. 53 5. 43 3. 8 7. 26 5. 38 4. 09 7. 60 5. 66 2. 21 8. 28 6. 36 4. 94 9. 74 6. 40 6. 63 4. 56 8. 38 6. 90 6. 43 3. 21 6. 78 6. 52 6. 19 4. 12 6. 46 6. 32 5. 74 4. 39 6. 42 6. 59 6. 00 1. 53 1. 13 0. 54 0. 68 Total GDP 4. 42 5. 26 6. 27 5. 96 Source Bangladesh Economic Review, 2010 Table 2(c) Growth of service and other sector (Chain base) 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010 Average 7. 02 5. 61 5. 88 SDEV 28849. 471 Service 5. 30 5. 64 6. 17 7. 39 7. 78 7. 66 Other 3. 52 5. 14 6. 82 5. 59 6. 83 6. 01 Sectors Total GDP 4. 42 5. 26 6. 27 5. 96 6. 63 6. 3 growth Source Bangladesh Economic Review-2010 Table 4 Service advantage and defrayals (in million Taka) 2004-2005 2005-2006 2006-2007 7. 02 5. 89 6. 19 7. 19 5. 21 5. 74 9. 05 5. 46 6. 00 1. 17 1. 00 0. 68 2007-2008 2008-2009 Service Receipts 75067 89780 102352 129103 Growth of Service 19. 60% 14. 00% 26. 14% Receipts Service Payments 124871 156279 189649 231667 Growth of Service 25. 15% 21. 35% 22. 16% Payment Services(net) (49804) (66499) (87297) (102564) Growth of Service 33. 52% 31. 28% 17. 49% (net) Source Bangladesh Balance of Payment-2010, Bangladesh Bank 122451 -5. 15% 236634 2. 4% (114183) 11. 33% 154534 26. 20% 257108 8. 65% (102574) -10. 17% 184 2009-2010 STDEV STDEV Average STDEV Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 5, 2012 Table 5 Employment contributions class 1984 1985 Employment in agriculture (% of total employment) 58. 8 57. 7 Employment in industry (% of total employment) 11 11. 5 Employment in services (% of total employment) 24. 2 26 Source World development index, World Bank Table 6 Growth of economic sectors 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010 ww. iiste. org 1986 57. 1 12. 5 26. 5 1989 64. 9 15. 4 14. 8 1991 66. 4 13 16. 2 1996 63. 2 9. 6 25 2000 62. 1 10. 3 23. 5 2003 51. 7 13. 7 34. 6 2005 48. 1 14. 5 37. 4 SD 6. 06 1. 95 7. 35 Avg. 58. 89 12. 39 25. 36 Agricult ure 0. 01 3. 08 4. 09 2. 21 4. 94 4. 56 Industry 6. 53 7. 26 7. 60 8. 28 9. 74 8. 38 Service 5. 43 5. 38 5. 66 6. 36 6. 40 6. 90 Total GDP 4. 42 5. 26 6. 27 5. 96 6. 63 6. 43 Source Bangladesh Economic Review-2010, Ministry of Finance 3. 21 6. 78 6. 52 6. 19 4. 12 6. 46 6. 32 5. 74 4. 39 6. 42 6. 59 6. 00 1. 53 1. 13 0. 54 0. 68 . 21 7. 49 6. 17 5. 88 Figure 1 Contrubution of Service, Industry and Agriculutre Figure 2 Comparative Sector-wise Growth Rate 185 Average STDEV Sectors Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 5, 2012 www. iiste. org Figure 3 Service Export and meaning Figure 4 Employment of Service Sectors. 186 This donnish article was published by The International Institute for Science, Technology and Education (IISTE). 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