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The Financial Express

Contribution of service sector to national economy

| Updated: October 23, 2017 16:12:12


Contribution of service sector to national economy

THE country's service sector is expanding rapidly. This expansion has created more employment opportunities and thus contributes a lot to the country's economy. Agriculture was once the main contributor to national growth. Over the past decade, it has been found that contribution of the service sector is increasing day by day. When purchasing power of consumers has increased noticeably, the service sector is also ahead in the race of consumer satisfaction. This has also reinforced the country's economic framework.  As is well known, Bangladesh's economy was once fully dependent on agriculture. Then the manufacturing sector took over with the help of borrowings from both public and private banks. Contribution of the manufacturing sector declined due mainly to non-economic factors and service sector started making increased contribution to the national economy.
Tushar Roy 
East West University
[email protected]
 

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