Lesson 5/55 min
Economic abbreviations
Economy and trade
| Short | Full form |
|---|---|
| GDP | Gross Domestic Product |
| GNP | Gross National Product |
| NNP | Net National Product |
| NDP | Net Domestic Product |
| LDC | Least Developed Countries |
| GSP | Generalized System of Preference |
| VAT | Value Added Tax |
| MDG | Millennium Development Goals |
| ODA | Official Development Assistance |
| ZPG | Zero Population Growth |
| PPP | Public-Private Partnership |
| TRIPS | Trade Related Aspects of Intellectual Property Rights |
| AFTA | ASEAN Free Trade Area |
| ADB | Asian Development Bank |
| IFAD | International Fund for Agricultural Development |
| TICFA | Trade and Investment Cooperation Framework Agreement |
| TNC | Trade Negotiation Committee |
| PSI | Pre Shipment Inspection |
| PSC | Production Sharing Contract |
| SME | Small & Medium Enterprises |
| GO | Government Organization |
| IGO | International Government Organization |
| INGO | International Non-Government Organization |
Banking and payments
| Short | Full form |
|---|---|
| RTGS | Real Time Gross Settlement System |
| EFT | Electronic Fund Transfer |
| BEFTN | Bangladesh Electronic Fund Transfer Network |
| ACH | Automated Clearing House |
| BACH | Bangladesh Automated Clearing House |
| CHIPS | Clearing House Interbank Payment System |
| SWIFT | Society for Worldwide Interbank Financial Telecommunication |
| EPS | Electronic Payment System |
| EMTS | Electronic Money Transfer Service |
| MICR | Magnetic Ink Character Recognition |
| ATM | Automated Teller Machine |
| PIN | Personal Identification Number |
| MPO | Monthly Payment Order |
| SEC | Securities & Exchange Commission |
| ICB | Investment Corporation of Bangladesh |
Bangladesh institutions and programmes
| Short | Full form |
|---|---|
| BSTI | Bangladesh Standards and Testing Institution |
| BIDA | Bangladesh Investment Development Authority |
| BCIC | Bangladesh Chemical Industries Corporation |
| BSFIC | Bangladesh Sugar and Food Industries Corporation |
| BPC (Parjatan) | Bangladesh Parjatan Corporation |
| BPC (Petroleum) | Bangladesh Petroleum Corporation |
| BAPEX | Bangladesh Petroleum Exploration and Production Company Limited |
| BGFCL | Bangladesh Gas Fields Company Limited |
| BERC | Bangladesh Energy Regulation Commission |
| BTRC | Bangladesh Telecommunication Regulatory Commission |
| BTCL | Bangladesh Telecommunications Company Limited |
| BTTB | Bangladesh Telegraph and Telephone Board |
| WASA | Water Supply and Sewerage Authority |
| BCPCL | Bangladesh China Power Company (Pvt.) Limited |
| BIFPCL | Bangladesh India Friendship Power Company (Pvt.) Limited |
| BAB | Bangladesh Accreditation Board |
| BIRDEM | Bangladesh Institute of Research and Rehabilitation in Diabetes, Endocrine and Metabolic Disorders |
| BARD | Bangladesh Academy for Rural Development |
| TCB | Trading Corporation of Bangladesh |
| BGB | Border Guard Bangladesh |
| BOSS | Bangladesh Organization for Social Services |
| MIDAS | Micro Industries Development Assistance and Services |
| VGF | Vulnerable Group Feeding |
| OMS | Open Market Sale |
| MRP | Machine Readable Passport |
| BAIRA | Bangladesh Association of International Recruiting Agencies |
Business bodies and others
| Short | Full form |
|---|---|
| FBCCI | Federation of Bangladesh Chambers of Commerce and Industry |
| CCI | Chamber of Commerce & Industry |
| BGMEA | Bangladesh Garment Manufacturers and Exporters Association |
| BATEXPO | Bangladesh Apparel and Textile Exposition |
| EPB | Export Promotion Bureau |
| NTO | National Tourism Organization |
| EMS | Express Mail Service |
| CGPA | Cumulative Grade Point Average |
| GRE | Graduate Record Examination |
| TOEFL | Test of English as a Foreign Language |
| SEM | Search Engine Marketing |
| SEO | Search Engine Optimization |
Watch out: BPC has two meanings: Bangladesh Parjatan (Tourism) Corporation and Bangladesh Petroleum Corporation. Pick by context. The book prints ‘Good’ in BSFIC by mistake; the correct word is Food. The book's GEP, OTM and a few other expansions could not be verified, so they are left out.
Some terms linked to economics
| Term | Meaning |
|---|---|
| Freelancer | An independent professional |
| Quick Rental | Rental-basis electricity |
| Western Marine | A Bangladeshi shipbuilding and exporting company |
| Financial Express | A Bangladeshi economics newspaper |
Check yourself
What is the full form of BSTI?
At a glance
- 1
BSTI = Bangladesh Standards and Testing Institution (44th BCS).
- 2
RTGS = Real Time Gross Settlement System; PPP = Public-Private Partnership; OMS = Open Market Sale.
- 3
TRIPS = Trade Related Aspects of Intellectual Property Rights; BARD = Bangladesh Academy for Rural Development.
- 4
GSP = Generalized System of Preference; LDC = Least Developed Countries; VAT = Value Added Tax.
- 5
BEFTN = Bangladesh Electronic Fund Transfer Network; SWIFT = Society for Worldwide Interbank Financial Telecommunication.