Economy Overview
Despite sustained domestic and international efforts to improve economic and demographic prospects, Bangladesh remains a poor, overpopulated, and ill-governed nation. Although half of GDP is generated through the service sector, nearly two-thirds of Bangladeshis are employed in the agriculture sector, with rice as the single-most-important product. Major impediments to growth include frequent cyclones and floods, inefficient state-owned enterprises, inadequate port facilities, a rapidly growing labor force that cannot be absorbed by agriculture, delays in exploiting energy resources (natural gas), insufficient power supplies, and slow implementation of economic reforms. Economic reform is stalled in many instances by political infighting and corruption at all levels of government. Progress also has been blocked by opposition from the bureaucracy, public sector unions, and other vested interest groups. The BNP government, led by Prime Minister Khaleda ZIA, has the parliamentary strength to push through needed reforms, but the party's political will to do so has been lacking in key areas. One encouraging note: growth has been a steady 5% for the past several years.
Agriculture Products
rice, jute, tea, wheat, sugarcane, potatoes, tobacco, pulses, oilseeds, spices, fruit; beef, milk, poultry
Industries
cotton textiles, jute, garments, tea processing, paper newsprint, cement, chemical fertilizer, light engineering, sugar
Industrial Production Growth Rate
6.5% (2004 est.)
Electricity production
16.45 billion kWh (2002)
Electricity Consumption
15.3 billion kWh (2002)
Electricity Exports
0 kWh (2002)
Electricity Imports
0 kWh (2002)
Unemployment Rate
40% (includes underemployment) (2004 est.)
Population Below Poverty Line
45% (2004 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: 3.9%
Highest 10%: 28.6% (1995-96 est.)
Distribution of Family Income Gini Index
33.6 (FY95/96)
Budget
Revenues: $5.921 billion
Expenditures: $8.262 billion, including capital expenditures of NA (2004 est.)
Public Debt
43% of GDP (2004 est.)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
$3 billion (2004 est.)
Debt External
$19.97 billion (2004 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
taka per US dollar - 59.513 (2004), 58.15 (2003), 57.888 (2002), 55.807 (2001), 52.142 (2000)
