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You examine ‘The Part of Services Industry in the Economic Development’ in category ‘Essay examples’ 4. 1 Analysis of data: The data have already been analyzed employing graph, graph and or chart and some different simple statistical tools. The expansion rate of service industries (trend) is definitely shown by simply graphical demonstration. The total contribution of services sectors and sector sensible share of major areas are demonstrated graphically. The typical growth costs between assistance sectors and industry groups or farming sector or perhaps total GDP have been as opposed by student’s’t’ test. 5. 2 Hypothesis test 4. 2 . L 0: 1 = 2 (There is no significant difference between the development rate of service sectors and industry sectors. ) 4. installment payments on your 2 They would 0: 1 = 2 (There is no factor between the development rate of service areas and culture sectors) some. 2 . several. H 0: 1 = a couple of (There is no significant difference between growth charge of assistance sectors as well as the growth level of total GDP) your five. Analysis and Results five. 1 . The Contribution of Service Sector Off every one of the sectors, support sector is prominent one. Service sector has the developing potential to be driver of sustainable financial growth and significant poverty alleviation in Bangladesh.

Service sector in Bangladesh is a largest sector. From the stand 2(a), it is observed which the contribution from the service sector is common 49. 33%. It is regular over the period. The contribution of support sectors are 48. 77% in 2000-01 and forty-nine. 90% in 2009-10. Figure-1 demonstrates contribution of different industries in GROSS DOMESTIC PRODUCT. The groth rate of srvice sector is regular. The average growth is six. 17%. The growth rates will be 5. 43%, 6. 40%, and 6th. 59% in 2001-02, 2005-06, 2009-10 respectively. 5. 2 . Growth of Sub-sectors of Services Sector Development rate of service sector is consistnent and contineous.

From the Table 1(b), it is shown that the several sub sectors “(i) Operate (ii) Transfer, storage and communication (iii) Realstate renting and other Organization activities (iv) Community, cultural and personal companies contribute more in GROSS DOMESTIC PRODUCT which are 13. 06%, 12. 07%, six. 98%, 7. 39% 179 Research Record of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol three or more, No your five, 2012 www. iiste. org respectively. Nevertheless the growth level is more intended for the Education, Financial, Public government, Transportation which are 8. 42%, 8. 13%, 7. 88%, 7. 48% respectively. a few. 3.

Relative Analysis of Service Sector with Farming and Sector Sector In the comparative presentation of the groups, it is identified that assistance sector can be sustaiable in terms of growth and contribution to toal GROSS DOMESTIC PRODUCT. From the Table 2(a), 2(b) and determine -2, it is shown that the average contribution of service sector, industry and agriculute sectors are forty-nine. 33%, twenty-eight. 42%, twenty-two. 25% respectively. So , the service sector is the 50 % of total sector of overall economy. The growth price of support sector, inudsty sector, and agriculture secture are 6. 17%, several. 49%, three or more. 21% correspondingly.

Here, through the figure-2, it truly is seen the fact that contribution of service sector is stable. The contribution of sector sector can be increasing with the reducing craze of cultivation sector. Here, aparently it really is seen that the average expansion rate of service sector is more the agriculture industries and the total GDP progress and the normal gorwth charge of sector sector is definitely slightly more than the service sector. Now we shall statistically test out whether the average growth price of services sector is more than the agriculture sectors and total GDP growth and whther there exists significant difference of growth charge between assistance sectors and industry sector.. Hypothesis evaluation Since in the given data variances of population happen to be unknown as well as the sample size is small we have used t-test from the table -6. The effect of hypothesis test out is in desk 3. 6th. 1 . H 0: 1 = 2 (There is no factor between the development rate of service groups and market sectors. ) Table three or more: Paired Examples Test Particulars 95% Matched Std. An std. Confidence Distinctions Deviation Mistake Interval of the Mean Indicate Difference Reduced Upper 1 ) 1152. 3717 -2. 1783 -. 4639 t df Sig. (2tailed) Pair 1 Growth price of Assistance sector , Growth rate of Industry sector -1. 211 Expansion rate of Service sector , Growth rate of Agriculture sector Growth charge of Services sector , Growth rate of Total GDP sector 8 3. 554. 007 Pair two 2 . 7722 1 . 2957. 4319 1 . 7763 three or more. 76826. 419 8. 4806. 1602 7. 3847E-. 6650 1 . 845 8 02. 000 Pair 3. 2956. 102 Resource: Compiled by creators through SPSS The desk value can be -2. 306 So , the calculated value (-3. 554) is away from critical place. So , the alternative hypothesis is definitely accepted. There is certainly significant difference between growth rate of support sector and industry sector.

The growth rate of industry is more than that of support sector. six. 2 . They would 0: 1 = 2 (There is no significant difference between the growth rate of service groups and farming sectors) The table worth is 2 . 306. The calculated value(6. 1 . 77) is outside the critical region. So , the growth of support sector is more than the growth of agriculture sector. 6. 3. H zero: 1 sama dengan 2 (There is not a significant difference involving the growth price of assistance sectors and total GDP) The desk value is usually 2 . 3306. The determined value (t=1. 84) is definitely inside the crucial region. Therefore , the null hypothesis is definitely accepted.

Although average growth rate of service sector is more than the growth level of total GDP, although there is no difference with t test. one hundred and eighty Research Diary of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol several, No your five, 2012 six. Trade of service and Trade liberization www. iiste. org Trade liberlization features opened a new horizon pertaining to service export products. Service foreign trade is the quantity which is paid out by the foreign national intended for using the assistance of Bangladesh. Service transfer is the sum which is paid out by the Bangladeshi national pertaining to using the services of other countries. GATS was formed to get rid of the trade barriers.

In this article we shall begin to see the impact of trade liberization on the support sectors of Bangladesh. In the table 5, the figure-3 is drawn. It is located from the number -3 that the import of service common Tk. 199368 million much more than the export of support average Tk. 112214. five million. The overall trade shortfall is raising over the year. The average price of regarding service foreign trade is more than service import which are of sixteen. 16% and 15. 89% respectively. This is a good symptom pertaining to Bangladesh. almost eight. Employment option in Service sector Service sector has created a great scope to get employment.

Bangladesh is a labor intensive country. Human population is an important source of Bangladesh. From the stand 5 (data is extracted from world Bank data bank) the figure-4 is attracted and it is displayed that typical employment of Agriculture, Industry, Service to toal employment happen to be 58. 89%, 12. 39 5and 25. 36% respectively. But work of assistance sector is usually increasing. The employment of industry sector is raising but agriculure sector is decreasing. 9. Recommendations for Services Sectors Following analysis, it can be said that the contribution of service sector is about forty-nine. 22% plus the growth price of services sector can be 6. 74%. The contribution is about half of the total financial sectors plus the growth level is more compared to the average regarding GDP. Emphasis is given on the service sector for creation. Since the industry sector keeps growing rapidly (7. 49%), support can be provided by providing the product quality and soft service. The employment in service sector is definitely increasing everyday. So , there exists lot of opportunity for employment with this sector. Although there is unfavorable Trade Equilibrium of support of Bangladesh, the growth price of srvice export is more than those of import. It is a good sign for us.

And so we have to focus on the service export just like Tourism, Computer software, Transportation and Financial srvice etc . The prospects of some promising service sectors are stated below. on the lookout for. 1 . Progress Tourism Travel and leisure is one of the the majority of promising areas for Bangladesh with her huge natural beauty, heroic famous background and archaeological resources (Das , Chakroborty 2012). Bangladesh is a region of organic beauty. She has lot of tourism areas. These places are of numerous interest like beaches, historic places, archaeological sites, faith based palaces, forest and new world etc .. 2 . Development of Software program and THAT With the passage of time, the globe is being transformed from analogue to automation. During previous few years Bangladesh showed enormous accomplishment in Software program and THIS Sector which can enlarge the extent of her service market (BASIS 2010). The latest size of Bangladesh IT Sector and software/ITES industry remains smaller when compared to overall economic system and the range of population (faster than 150 million). Over the last number of years the market has been grown considerably and is also expected to expand at that price for some time. being unfaithful. 3.

Data Communication Technology (ICT) With the hope of great creation, the govrnment of people republic of Bangladesh introduced National Information and Communication Technology (ICT) Coverage in August 2002. This policy file guides the development of a country-wide ICT-infrastructure for human resources advancement, governance, web commerce, banking, community utility providers and all sorts of on-line ICT-enabled services by 06\. 9. four. Improvement in Transportation Transportation is an important sub-sector of total service sector. It includes diverse caterogy of transport for example street transport, waterways, railways, and airlines.

Of these, road travel is mostly used means of transfer. Road transportation in Bangladesh is a personal sector affair operating mostly in home-based routes. 181 Research Log of Financial and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol several, No five, 2012 www. iiste. org Rates will be among the cheapest in the world. Share and no stop providers are available. Total Highways is definitely 204, 022 km which paved is definitely 25, 095 km and unpaved is definitely 178, 927 km (1996 est. ) (bangla2000. com). 9. a few. Quality Financial Services Financial assistance is another essential 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 banking companies (NCBs), five stateowned specific banks (SBs), more than 31 private sector commercial banks (PCBs) plus more than on the lookout for foreign industrial banks (PCBs). The rest of the economical sector consists of more than up to 29 non-bank financial institutions, the capital market, 3 general and 18 life insurance firms, the cooperative banks and the microfinance corporations. 9. six. Development of Education sector Intended for increasing of individuals and literacy rate, the necessity of higher education is raising.

The specialized institution, Business education, health education create the demand to the people. The development of federal government and private educational institutions is the sign of developing demand of education sector. 10. Concluding Remarks The contribution of service sector is about fifty percent of the total GDP. Therefore , the growth price of GROSS DOMESTIC PRODUCT depends on the support sectors. The service sector provides the support for the expansion Industry sector and culture sector. To get the worldwide trade (export and import), the smooth transportations, financial and insurance service is required.

Pertaining to the improvement with the GDP sector, it has to give special highlight on support sectors. There exists lot of opportunity of development of service sector. Bangladesh provides transit and transshipment to India, Nepal and Bhutan that will increase return from your transportation and communication sector. The manufacturing sector is growing rapidly. So , the need of financial service and education can be increasing in future. Tourism, hotel service is promising in Bangladesh. The trade liberalization on service will cause the chance for service export. So , we have to take the initiatives pertaining to development of support sectors.

This paper has analyzed the comparative contribution of service sector, the growth of service sector, service export and the career in service areas. There is range for further research about the ways of advancement service industries. References: Bangladesh Parjatan Corporation n. deb. SUNDARBAN Regal Bengal Tiger and Mangrove Forest seen 2 May 2011, www. parjatan. gov. bd/forest. php Bangladesh Relationship of Software and Information Services 2010, BASIS Resource Center, Bangladesh, utilized 2 May, 2011, http://www. basis. org. bd/index. php/resource Bhuyan A. R., Hossain M. My spouse and i. and Hossai M.

A., 20007, Analyze on the Providers Sector of Bangladesh, The Bangladesh Control Support Plan (BTSP) Brahs, Stuart J. 2002. Goals for WTO Financial Services Negotiations Fund Management and Retirement benefits, Principal Economical Group, Buenos aires DC. Bangladesh Bareu of Statistics, BBS (Labour Pressure Survey) 2006, Dhaka Comjagat. com 2010, Status and Prospects http://www. comjagat. com/home/articles/morearticles/5515 of ICT in Bangladesh, Bangladesh, Choudhury T. A., Raihan A., Habib H. and S. Chowdhury. 2150. “Effects of WTO on Financial System of Bangladesh”: An investigation Report, BIBM, 2000.

Das, RK , Chakroborty L 2012, An Evaluative Research on Travel in Bangladesh, Research Diary of Financial and Accounting Vol three or more, No 1, accessed 06/20/2012 http://www. iiste. org/Journals/index. php/RJFA/article/view/1305/1225 Dobson, Wendy. 2002. Financial Services Liberalization in the WTO, Worldwide Economics Coverage Briefs, Number PB02-8. Intercontinental Institute of Economics, Toronto. 182 Exploration Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, Zero 5, 2012 Kothari, C. R., Exploration Methodology, 2nd ed., Newdelhi, New Age International Pvt. Ltd., 2005. www. iiste. org 0. Lovelock, Cheristopher, Support Marketing, next ed., Simgspore, Sddison Wesley Longnian Pvt. Lyd., 2001. Mattoo, Aaditya. 2002. Finance and the Community Trade Corporation: Liberalization Commitments and the Universe Trade Business, World Financial institution, 1818 H Street NW, Washington, POWER. Ministry of Finance(2010), Bangladesh Economic Servey 2010, Ministry of Financing, Dhaka. Mascarenhas, Romeos, Service Sector Supervision, 1st education., Mumbai, VipuPrakashan, 2002. a few. 5. Travel to bangladesh. com (Tour Operator of Bangladesh) 2010, Tourism Eye-sight 2020, Bangladesh, accessed two May 2011, http://www. tourtobangladesh. om/Bangladesh-Tourism-Vision-2020. php Transportation, accessed 2 May possibly, 2011 Appendices Table 1(a): Contribution of total services 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 six. 60 six. 31 several. 48 eight. 13 a few. 67 7. 88 almost eight. 42 several. 02 some. 14 6th. 17 Control (Retail , Whole sales Hotel , Restaurants Transport, Storage , Communication Bank , Insurance Real Estate, Hiring , different Business Activities Public Operations and Defense Education Health insurance and Social Operate Community, Social and Companies Total Service Personal 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 Supply: Bangladesh Financial Review, 2010 Table 1(b): Contributions and growth of subwoofer sectors

Services sub-sector Trade (Retail , Whole revenue Hotel , Restaurants Transport, Storage , Communication Bank , Insurance Real Estate, Hiring , different Business Actions Public Government and Protection Education Into the Social Operate Community, Sociable and Personal Services Total An std. of Support sub-sector 7526. 08 398. 47 6109. 71 1140. 47 2336. 93 1678. 77 1647. 75 1289. 33 2471. 01 24576. 02 An std. of Service sub-sector growth 0. seventy five 0. 30 0. 70 1 . ’04 0. 14 2 . eighty five 1 . seventeen 1 . 17 0. 54.99 0. fifty four Avg. Contribution % 14. 06% zero. 68% 10. 07% 1 . 72% 7. 98% installment payments on your 71% installment payments on your 48% 2 . 27% several. 37% forty-nine. 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 Resource: Bangladesh Economical Review, 2010 183 Analysis Journal of Finance and Accounting ISSN 2222-1697 (Paper) 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 assistance Total twenty-five. 03 twenty six. 20 twenty four. 77 90 23. 98 26. 75 49. twenty-seven 100 3. 47 twenty seven. 24 forty-nine. 30 95 23. ’08 27. 69 49. twenty two 100 twenty two. 27 twenty-eight. 31 forty-nine. 42 90 21. 84 29. 03 49. 18 100 21 years old. 38 up to 29. 45 forty-nine. 17 95 20. 83 29. seventy 49. 47 100 20. 48 twenty nine. 86 49. 66 95 20. 18 29. 96 49. 90 100 1 . 6 1 . 38 0. 31 zero. 00 twenty two. 25 twenty eight. 42 forty-nine. 33 75 Source: Bangladesh Economic Assessment, 2010 Stand 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 Average 3. twenty one 7. 49 6. 18 5. 88 112214. your five 16. 16% 51510. 798 199368 15. 89% 24606. 842 (87153. 5) sixteen. 69% Normal Agriculture Sector Service 0. 01 6. 53 5. 43 3. 8 several. 26 five. 38 4. 09 six. 60 a few. 66 2 . 21 8. 28 6th. 36 5. 94 9. 74 six. 40 six. 63 some. 56 eight. 38 six. 90 six. 43 3. 21 6. 78 6. 52 six. 19 four. 12 six. 46 6. 32 five. 74 some. 39 6th. 42 6th. 59 six. 00 1 ) 53 1 . 13 zero. 54 0. 68 Total GDP some. 42 five. 26 6. 27 5. 96 Origin: Bangladesh Financial Review, 2010 Table 2(c): Growth of assistance 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. sixty one 5. 88 SDEV 28849. 471 Services 5. 31 5. 64 6. 17 7. 39 7. 78 7. sixty six Other three or more. 52 your five. 14 6th. 82 a few. 59 6th. 83 6. 01 Sectors Total GDP 4. forty two 5. dua puluh enam 6. 28 5. 96 6. 63 6. a few growth Source: Bangladesh Economical Review-2010 Table 4: Support Receipts and Payments (in million Taka) 2004-2005 2005-2006 2006-2007 several. 02 a few. 89 six. 19 several. 19 5. 21 5. 74 on the lookout for. 05 five. 46 6. 00 1 . 17 1 ) 00 zero. 68 2007-2008 2008-2009 Service Receipts 75067 89780 102352 129103 Regarding Service 19. 60% 14. 00% dua puluh enam. 14% Statements Service Payments 124871 156279 189649 231667 Growth of Service 25. 15% 21. 35% 22. 16% Payment Services(net) (49804) (66499) (87297) (102564) Growth of Support 33. 52% 31. 28% 17. 49% (net) Source: Bangladesh Harmony of Payment-2010, Bangladesh Traditional bank 122451 -5. 15% 236634 2 . 4% (114183) 10. 33% 154534 26. 20% 257108 almost eight. 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 several, No a few, 2012 Stand 5: Employment contributions Year 1984 1985 Employment in agriculture (% of total employment) 49. 8 57. 7 Career in market (% of total employment) 11 eleven. 5 Work in solutions (% of total employment) 24. two 26 Source: World development index, Community 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 dua puluh enam. 5 1989 64. being unfaithful 15. 4 14. almost eight 1991 sixty six. 4 13 16. two 1996 63. 2 being unfaithful. 6 twenty-five 2000 62. 1 twelve. 3 twenty-three. 5 the year 2003 51. 7 13. 7 34. 6 2005 48. 1 14. 5 thirty seven. 4 SECURE DIGITAL 6. summer 1 . 95 7. 35 Avg. 49. 89 doze. 39 twenty-five. 36 Agriculture 0. 01 3. 08 4. 09 2 . 21 years old 4. 94 4. 56 Industry 6. 53 six. 26 six. 60 almost eight. 28 being unfaithful. 74 8. 38 Services 5. 43 5. 35 5. sixty six 6. thirty-six 6. forty 6. 80 Total GDP 4. forty two 5. dua puluh enam 6. twenty-seven 5. 96 6. 63 6. 43 Source: Bangladesh Economic Review-2010, Ministry of Finance three or more. 21 six. 78 6th. 52 six. 19 some. 12 six. 46 6. 32 a few. 74 4. 39 6. 42 six. 59 six. 00 1 . 53 1 . 13 zero. 54 0. 68. twenty-one 7. 49 6. 18 5. 88 Figure 1: Contrubution of Service, Market and Agriculutre Figure a couple of: Comparative Sector-wise Growth Charge 185 Typical STDEV Areas Research Record of Fund and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol a few, No a few, 2012 www. iiste. org Figure three or more: Service Export and Importance Figure four: Employment of Service Areas. 186 This academic content was posted by The International Institute for Science, Technology and Education (IISTE). 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