I. ENVIRONMENT AND ASSESSMENT OF FLOOD IMPACTS
D. Related population and socio-economic setting
4. Economic base and growth pattern
The structure of the Bangladesh economy is still traditional in nature and represents an underdeveloped economy. Such a structure is not surprising in a small farmer-dominated agrarian economy with a large service and informal sector. The structural composition of the country's economy underwent some changes, though not of a very optimistic nature, as is evident from the composition of the GDP over the last few years. The share of agriculture in the GDP stood at 36 per cent in 1993 as against about 43 per cent in 1983. Industry contributed 18 per cent of GDP in 1993, out of which the manufacturing sector accounts for only 10.43 per cent. The contribution of the services sector has increased from about 42 per cent in 1983 to about 46 per cent in 1993. During the same period, the absolute value of GDP at constant 1984-85 prices rose from US$ 14,384 million in 1983 to US$ 21,576 million in 1993. Real GDP at constant 1984-85 prices grew in 1993 at an estimated rate of 4.5 per cent annually, as compared to 4.68 per cent in 1983. The large river floods of 1987 and 1988 and particularly the devastating cyclonic flood of 1991 were found to have had significant impacts on the GDP growth rate.