Economy Overview
Bangladesh's economy has grown roughly 6% per year since 1996 despite political instability, poor infrastructure, corruption, insufficient power supplies, slow implementation of economic reforms, and the 2008-09 global financial crisis and recession. Although more than half of GDP is generated through the service sector, almost half of Bangladeshis are employed in the agriculture sector with rice as the single-most-important product. Garment exports, the backbone of Bangladesh’s industrial sector and 80% of total exports, surpassed $21 billion last year, 18% of GDP. The sector has remained resilient in recent years amidst a series of factory accidents that have killed over 1,000 workers and crippling strikes that shut down virtually all economic activity. Steady garment export growth combined with remittances from overseas Bangladeshis, which totaled almost $15 billion and 13% of GDP IN 2013, are the largest contributors to Bangladesh’s current account surplus and record foreign exchange holdings.
Agriculture Products
rice, jute, tea, wheat, sugarcane, potatoes, tobacco, pulses, oilseeds, spices, fruit, beef, milk, poultry
Industries
jute, cotton, garments, paper, leather, fertilizer, iron and steel, cement, petroleum products, tobacco, pharmaceuticals, ceramics, tea, salt, sugar, edible oils, soap and detergent, fabricated metal products, electricity, natural gas
Industrial Production Growth Rate
9% (2013 est.) country comparison to the world: 20
Labor Force
78.62 million country comparison to the world: 7 note: extensive export of labor to Saudi Arabia, Kuwait, UAE, Oman, Qatar, and Malaysia, workers' remittances were $10.9 billion in FY09/10 (2013 est.)
Labor Force by Occupation
agriculture: 47%
industry: 13%
services: 40% (2010 est.)
Unemployment Rate
5% (2013 est.) country comparison to the world: 48 5% (2012 est.) note: about 40% of the population is underemployed, many persons counted as employed work only a few hours a week and at low wages
Population Below Poverty Line
31.5% (2010 est.)
Household Income or Consumption by Percentage Share
lowest 10%: 4%
highest 10%: 27% (2010 est.)
Distribution of Family Income Gini Index
32.1 (2010) country comparison to the world: 106 33.6 (1996)
Budget
revenues: $17.19 billion
expenditures: $24.02 billion (2013 est.)
Public Debt
30.9% of GDP (2013 est.) country comparison to the world: 118 32.2% of GDP (2012 est.)
Central Bank Discount Rate
5% (31 December 2010 est.) country comparison to the world: 69 5% (31 December 2009 est.)
Commercial Bank Prime Lending Rate
13% (31 December 2013 est.) country comparison to the world: 58 13% (31 December 2012 est.)
Stock of Narrow Money
$17.11 billion (31 December 2013 est.) country comparison to the world: 67 $14.85 billion (31 December 2012 est.)
Stock of Broad Money
$85.61 billion (31 December 2013 est.) country comparison to the world: 58 $70.87 billion (31 December 2012 est.)
Stock of Domestic Credit
$93.38 billion (31 December 2013 est.) country comparison to the world: 53 $79.32 billion (31 December 2012 est.)
Market Value of Publicly Traded Shares
$NA (February 2014 est.) country comparison to the world: 60 $17.48 billion (31 December 2012) $23.55 billion (31 December 2011 est.)
Reserves of Foreign Exchange and Gold
$15.74 billion (31 December 2013 est.) country comparison to the world: 68 $12.75 billion (31 December 2012 est.)
Debt External
$30.69 billion (31 December 2013 est.) country comparison to the world: 72 $29.53 billion (31 December 2012 est.)
Stock of Direct Foreign Investment at Home
$7.04 billion (31 December 2013 est.) country comparison to the world: 88 $6.64 billion (31 December 2012 est.)
Stock of Direct Foreign Investment Abroad
$110.1 million (31 December 2013 est.) country comparison to the world: 85 $108.1 million (31 December 2012 est.)
Exchange Rates
taka (BDT) per US dollar -78.19 (2013 est.) 81.863 (2012 est.) 69.649 (2010 est.) 69.04 (2009) 68.554 (2008)
