Economy of Sylhet Division

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Economy of Sylhet
Sylhet in Bangladesh.svg
The Location of Sylhet on the Map of Bangladesh
Statistics
GDP
  • Increase2.svg $16 billion (Nominal, 2019)
  • Increase2.svg $40 billion (PPP, 2019)
GDP per capita
$3050+ (Nominal, 2019)
$6,250 (PPP, 2019)
Population below poverty line
6.5%
Unemployment7.80% (2010)

The economy of Sylhet is the 5th largest in the Peoples Republic of Bangladesh. It has a gross state product of $16 billion in nominal terms, and $40 billion in terms of purchasing power parity, making it the third largest behind Dhaka, Chittagong, Khulna and Rajshahi. Since the formation of Bangladesh, Sylhet has been regarded as the spiritual and cultural center of the country, and often termed as the agricultural capital of Bangladesh. Due to vast natural resources and emerging metropolitan, Sylhet is a major economic hub of the country alongside Dhaka and Chittagong. In recent years, Sylhet is experiencing major infrastructural developments, and projected to be the forefront of Bangladesh's economic growth.[ citation needed ] Sylhet is known for its tea plantations. [1] About 80% of the country's agar processing factories are located in Barlekha Upazila. [2]

Contents

As of 2019, Sylhet's per capita GDP is $3,050 in nominal terms and 6,250 in purchasing power parity terms, which is the second highest in Bangladesh.[ citation needed ] According to the World Bank, Sylhet and Chittagong have the lowest incidence of poverty in Bangladesh. [3]

Economy

Sylhet region is the most enriched area of Bangladesh. A vast quantity of proven gas reserve and Bangladesh's only oil field in located in the region.[ citation needed ]

Natural gas

Sylhet contains a vast amount of proven natural gas reserve. There are total eight gas fields located in the region. Total reserve of gas fields of the region is about 14 trillion cubit feet. According to Jalalabad Gas System Limited, The company's annual revenue earning is around 5.66 billion.[ citation needed ]

Remittance

Surma River Sylhet Surma River 0003.jpg
Surma River Sylhet

Remittance is one of the biggest source behind Sylhetis economic growth. Many Sylhetis that live abroad live in many countries, notably countries in the Middle East such as Saudi Arabia, the United Arab Emirates, etc., France, the United States, and the United Kingdom. Many remittances are sent from the United Kingdom to Sylhet unlike many other countries as the majority, believed to be around 90-95%, of the British Bangladeshi population claim they are from Sylhet. The remittance of financial year 2012–13 is estimated around $10 billion. Numerous projects and businesses in the city and in large towns have been funded by Sylhetis living and working abroad. As of 1986, an estimated 95 percent of the ethnic British Bangladeshis originated from or had ancestors from the Sylhet region. [4] The city receives a significant portion of the country's annual remittances, which have driven growth in real estate and construction. [5] A number of shopping centres, restaurants and hotels have opened as a result.[ citation needed ]

Tourism

A luxurious 5 star hotel in Srimongol A 5 star hotel, srimongol3.jpg
A luxurious 5 star hotel in Srimongol

Sylhet is one of the most popular tourist destinations in Bangladesh. The province offers tourists with variety of options ranging from natural to commercial. The province is home to some of the most luxurious Hotels, Resorts and Shopping Malls in Bangladesh. Sylhet also relies on religious tourism, with thousands of devotees visiting its Sufi shrines annually, as well as ecotourism in its broader natural hinterland. Nature resorts have been built in the city's outskirts.[ citation needed ]

Fisheries

A large portion of fishes in Bangladesh comes from rivers and Haor region, among them Hakaluki Haor, Tanguar Haor including many more rivers in Sylhet meet the demand of fishes in this region.

Tanguar haor

Tanguar haor plays an important role in fish production as it functions as a 'mother fishery' for the country. [6] [7] It is the source of livelihood for more than 40,000 people. [6]

Every winter the haor is home to about 200 types of migratory birds. The haor is an important source of fish. In 1999–2000, the government earned 7,073,184 takas as revenue just from fisheries of the haor. There are more than 140 species of fresh water fish in the haor. The more predominant among them are: ayir, Cat fish, baim, tara, gutum, gulsha, tengra, titna, garia, beti, kakia. [7]

Hakaluki, the largest Hawor in Bangladesh Hakaluki Hawor Sylhet Bangladesh 46.JPG
Hakaluki, the largest Hawor in Bangladesh
Malnicherra Tea Garden in Sylhet Tea Garden in Malini chora Sylhet Bangladesh (3).JPG
Malnicherra Tea Garden in Sylhet

Tea industry

The area around Sylhet is a traditional tea growing area. The Surma Valley is covered with terraces of tea gardens and tropical forests. Srimangal is known as the tea capital of Bangladesh; for miles around, tea gardens are visible on the hill slopes. As a result, Bangladesh Tea Research Institute (BTRI) is an autonomous organisation under the Bangladesh Tea Board (BTB). [8] [9] [10] have been established here. Today, Bangladesh has 172 commercial tea estates, including many of the world's largest working plantations. [11] [12] Among which, Sylhet has over 150 tea gardens, including three of the largest tea plantations in the world, both in terms of area and production. The area Nearly 300,000 workers, of which more than 75% are women, are employed on the tea estates. The industry accounts for 3% of global tea production, and employs more than 4 million people. [13]

Tea is the second largest export oriented cash crop of Bangladesh, following jute. The industry accounts for 1% of national GDP. [14] Including Moulvibazar, Habiganj, Sylhet, this area has three Tea-producing districts.

Related Research Articles

<span class="mw-page-title-main">Sylhet Division</span> Division of Bangladesh

Sylhet Division is the northeastern division of Bangladesh. It is bordered by the Indian states of Meghalaya, Assam and Tripura to the north, east and south respectively, and by the Bangladeshi divisions of Chittagong to the southwest and Dhaka and Mymensingh to the west. Prior to 1947, it included the subdivision of Karimganj. However, Karimganj was inexplicably severed from Sylhet by the Radcliffe Boundary Commission. According to Niharranjan Ray, it was partly due to a plea from a delegation led by Abdul Matlib Mazumdar.

<span class="mw-page-title-main">Sylhet</span> Metropolis in Sylhet Division, Bangladesh

Sylhet, IPA:[sileʈ])) is a metropolitan city located in the northeastern region of Bangladesh. It is the administrative center of Sylhet Division. It is situated on the banks of the Surma River. The city has a population of approximately 700,000 people, making it the fifth-largest city in Bangladesh.

<span class="mw-page-title-main">Moulvibazar District</span> District of Bangladesh in Sylhet Division

Moulvibazar also spelled Maulvibazar, Moulavibazar, and Maulavibazar, is the southeastern district of Sylhet Division in northeastern Bangladesh, named after the town of Moulvibazar. It is bordered by the Indian states of Tripura and Assam to the south and east, respectively; and by the Bangladeshi districts of Habiganj to the west and Sylhet to the north.

<span class="mw-page-title-main">Netrokona District</span> District of Bangladesh in Mymensingh Division

Netrokona is a district of the Mymensingh Division in northern Bangladesh.

<span class="mw-page-title-main">Bangladeshi cuisine</span> Culinary traditions of Bangladesh

Bangladeshi cuisine is the national cuisine of Bangladesh. It has been shaped by the region's history and river-line geography. The country has a tropical monsoon climate. The staple of Bangladesh is rice and fish. The majority of Bangladeshi people are ethnic Bengali, accustomed to Bengali cuisine, with a minority of non-Bengalis, many used to cuisines from different traditions and regions. Bangladeshi cooking features more meat dishes than the cuisine of neighbouring West Bengal, India.

Sylheti Nagri or Sylheti Nagari, known in classical manuscripts as Sylhet Nagri amongst many other names, was an Indic script of the Brahmic family. The script was historically used in areas of Bengal and Assam that were east of the Padma, primarily in the eastern part of the Sylhet region, to document Muslim religious poetry known as puthis; having no presence in formal documentations. In the course of the 20th century, it has lost much ground to the standardised Eastern Nagari script. Printing presses for Sylheti Nagri existed as late as into the 1970s, and in the 2000s, a Unicode font was created for the script.

<span class="mw-page-title-main">Barlekha Upazila</span> Upazila in Sylhet Division, Bangladesh

Barlekha is an upazila (sub-district) of Moulvibazar District, located in Bangladesh's Sylhet Division.

<span class="mw-page-title-main">Kulaura Upazila</span> Upozila in Sylhet Division

Kulaura is the biggest upazila (subdistrict) of the Moulvibazar District in north-eastern Bangladesh. The total area of this upazila is 545 km2. Hakaluki Haor, the largest marsh wetland in Sylhet and one of the largest in Bangladesh is partially located there.

<span class="mw-page-title-main">Fenchuganj Upazila</span> Upazila in Sylhet Division, Bangladesh

Fenchuganj is an upazila of Sylhet District in the Division of Sylhet, Bangladesh.

<span class="mw-page-title-main">Jaintiapur Upazila</span> Upazila in Sylhet Division, Bangladesh

Jaintiapur is an upazila of Sylhet District in the Division of Sylhet, Bangladesh.

Itna is an upazila of Kishoreganj District in the Division of Dhaka, Bangladesh. Itna Upazila is one of the largest upazilas in Bangladesh by area. The reason for its spread is the massive Haor area.

<span class="mw-page-title-main">Languages of Bangladesh</span>

The national language and official language of Bangladesh is Bangla according to the third article of the Constitution of Bangladesh. The second most spoken language in Bangladesh is claimed to be Burmese which is spoken by the Marma tribe in Chittagong Hill districts as the districts border Myanmar; it is also spoken by the Rohingya people. Almost 99% of Bangladeshis speak Bengali as their first language. Bengali Language Implementation Act, 1987 made it mandatory to use Bengali in all government affairs except in the cases of foreign relations. According to a 2022 census, Bengali is predominantly spoken by 99% of the country's population and it also serves as the national language of the nation. The indigenous people of northern and southeastern Bangladesh speak a variety of native languages. Bangladesh has 44 indigenous languages according to Professor Shameem Reza.

<span class="mw-page-title-main">Haor</span>

A haor is a wetland ecosystem in the north eastern part of Bangladesh which physically is a bowl or saucer shaped shallow depression, also known as a backswamp. During monsoon haors receive surface runoff water from rivers and canals to become vast stretches of turbulent water.

<span class="mw-page-title-main">Hakaluki Haor</span>

Hakaluki Haor is a marsh wetland ecosystem of north-eastern Bangladesh. It is one of Bangladesh's largest and one of Asia's large marsh wetland resources. Hakaluki Haor is bounded by the Kushiara river as well as a part of the Sonai Bardal river to the north, by the Fenchuganj-Kulaura railway to the west and to the south, and by the Kulaura-Beanibazar road the east. It lies between 24°35’ N to 24°44’ N and 92°00’ E to 92°08’ E.

<span class="mw-page-title-main">Tourism in Bangladesh</span> Overview of tourism in Bangladesh

Tourism in Bangladesh includes tourism to World Heritage Sites, historical monuments, resorts, beaches, picnic spots, forests, tribal people, and wildlife of various species. Activities for tourists include angling, water skiing, river cruising, hiking, rowing, yachting, and sea bathing.

<span class="mw-page-title-main">Fauna of Bangladesh</span>

The fauna of Bangladesh includes about 1,600 species of vertebrate fauna and about 1,000 species of invertebrate fauna based on incomplete records. The vertebrate fauna consists of roughly 22 species of amphibians, 708 species of fish, 126 species of reptiles, 628 species of birds and 113 species of mammals. The invertebrate fauna includes about 30 species of aphids, 20 species of bees, 178 species of beetles, 135 species of flies, 400 species of spiders, 150 species of lepidopterans 52 species of decapods, 30 species of copepods, 2 species of starfish, and some species of sand dollars, sea cucumbers, and sea urchins.

The Sylheti or Sylhetis are an Indo-Aryan ethnocultural group that are associated with the Sylhet region. There are strong diasporic communities in Barak Valley of Assam, India, North Tripura, as well as in rest of Bangladesh and northeast India. They speak Sylheti, an Eastern Indo-Aryan language that is considered "a distinct language by many and a dialect of Bengali by some others".

<span class="mw-page-title-main">Tea production in Bangladesh</span>

Bangladesh is an important tea-producing country. It is the 12th largest tea producer in the world. Its tea industry dates back to British rule, when the East India Company initiated the tea trade in the hills of the Sylhet region. In addition to that, tea cultivation was introduced to Greater Chittagong in 1840. Today, the country has 166 commercial tea estates, including many of the world's largest working plantations. The industry accounts for 3% of global tea production, and employs more than 4 million people.

<span class="mw-page-title-main">Sikhism in Bangladesh</span>

Sikhism in Bangladesh has an extensive heritage and history, although Sikhs had always been a minority community in Bengal. Their founder, Guru Nanak visited a number of places in Bengal in the early sixteenth century where he introduced Sikhism to locals and founded numerous establishments. In its early history, the Sikh gurus despatched their followers to propagate Sikh teachings in Bengal and issued hukamnamas to that region. Guru Tegh Bahadur lived in Bengal for two years, and his successor Guru Gobind Singh also visited the region. Sikhism in Bengal continued to exist during the colonial period as Sikhs found employment in the region, but it declined after the partition in 1947. Among the eighteen historical gurdwaras in Bangladesh, only five are extant. The Gurdwara Nanak Shahi of Dhaka is the principal and largest gurdwara in the country. The Sikh population in the country almost entirely consists of businessmen and government officials from the neighbouring Republic of India.

The Laleng, also known as the Patra are a small indigenous ethnolinguistic group primarily living deep in the forests of Sylhet District and Moulvibazar District in Bangladesh. They speak the endangered Laiunghtor language. There are diaspora communities in the Indian states of Assam and Meghalaya. Most people living in Sylhet are even unaware of the existence of this minority community, although their presence dates back centuries, as they choose to stay hidden in the deep forests.

References

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  3. "Poverty Maps of Bangladesh 2010" (PDF). World Bank. Retrieved 4 July 2020.
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  5. "'Londonis' build big in Bangladesh". BBC News. 22 December 2011.
  6. 1 2 "Tanguar Haor". Swiss Agency for Development and Cooperation. Archived from the original on 14 November 2007. Retrieved 23 November 2007.
  7. 1 2 Talukdar, Nixon (2012). "Tanguar Haor". In Islam, Sirajul; Jamal, Ahmed A. (eds.). Banglapedia: National Encyclopedia of Bangladesh (Second ed.). Asiatic Society of Bangladesh.
  8. Minuddin Ahmed; AFM Badrul Alam (January 2003). "Bangladesh Tea Research Institute". In Sirajul Islam (ed.). Banglapedia. Dhaka: Asiatic Society of Bangladesh. ISBN   984-32-0576-6 . Retrieved 12 May 2016.
  9. "Brain drain dims achievements". The Daily Star. 1 November 2012. Retrieved 18 November 2016.
  10. "Bangladesh tea trade gets new brew". BBC News. Retrieved 18 November 2016.
  11. Dr. Kazi Muzafar Ahammed. "Investment for Sustainable Development of Bangladesh Tea Industry – An Empirical Study" (PDF). Bangladesh Economic Association. Retrieved 3 April 2015.
  12. "Tea Gardens in Bangladesh". bangladesh.com. Retrieved 24 March 2015.
  13. "Tea". scribd.com. Retrieved 24 March 2015.
  14. "Tea @ Global Trade Concern – Bangladesh". Tea.globaltradeconcern.com. Retrieved 3 April 2015.