4 GeoFroggy

Economy Overview

Bangladesh's economy has grown roughly 6% per year since 2005 despite prolonged periods of political instability, poor infrastructure, endemic corruption, insufficient power supplies, and slow implementation of economic reforms. Although more than half of GDP is generated through the services sector, almost half of Bangladeshis are employed in the agriculture sector, with rice as the single-most-important product.

 

Garments, the backbone of Bangladesh's industrial sector, accounted for more than 80% of total exports in FY 2016-17. The industrial sector continues to grow, despite the need for improvements in factory safety conditions. Steady export growth in the garment sector, combined with $13 billion in remittances from overseas Bangladeshis, contributed to Bangladesh's rising foreign exchange reserves in FY 2016-17. Recent improvements to energy infrastructure, including the start of liquefied natural gas imports in 2018, represent a major step forward in resolving a key growth bottleneck.

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

10.2% (2017 est.)

Labor Force

66.64 million (2017 est.)

Labor Force by Occupation

Agriculture: 42.7%

Industry: 20.5%

Services: 36.9% (2016 est.)

Unemployment Rate

2017: 4.4%

2016: 4.4%

Population Below Poverty Line

24.3% (2016 est.)

Household Income or Consumption by Percentage Share

Lowest 10: 4%

Highest 10: 27% (2010 est.)

Distribution of Family Income Gini Index

2010: 32.1

2005: 33.2

Budget

Revenues: 25.1 billion (2017 est.)

Expenditures: 33.5 billion (2017 est.)

Public Debt

2017: 33.1% of GDP

2016: 33.3% of GDP

Central Bank Discount Rate

11 December 2017: 5%

30 October 2015: 5%

Commercial Bank Prime Lending Rate

31 December 2017: 9.54%

31 December 2016: 10.41%

Stock of Narrow Money

31 December 2017: $28.68 billion

31 December 2016: $25.98 billion

Stock of Broad Money

31 December 2017: $28.68 billion

31 December 2016: $25.98 billion

Stock of Domestic Credit

31 December 2017: $152.1 billion

31 December 2016: $135.3 billion

Market Value of Publicly Traded Shares

30 September 2017: $92.33 billion

31 December 2016: $77.99 billion

31 December 2015: $71.73 billion

Reserves of Foreign Exchange and Gold

31 December 2017: $33.42 billion

31 December 2016: $32.28 billion

Debt External

31 December 2017: $50.26 billion

31 December 2016: $41.85 billion

Stock of Direct Foreign Investment at Home

31 December 2017: $14.62 billion

31 December 2016: $13.24 billion

Stock of Direct Foreign Investment Abroad

31 December 2017: $369.6 million

31 December 2016: $228.5 million

Exchange Rates

Currency: taka (BDT) per US dollar -

Exchange rates:

Year

GDP Official Exchange Rate

  • $261.5 billion 2017 est.

Taxes and Other Revenues

  • 9.6% (of GDP) (2017 est.)

Budget Surplus or Deficit

  • -3.2% (of GDP) (2017 est.)

Fiscal Year

  • 1 July - 30 June

GDP Purchasing Power Parity

  • 2017
    $690.3 billion
  • 2016
    $642.7 billion
  • 2015
    $599.5 billion

GDP Real Growth Rate

  • 2017
    7.4%
  • 2016
    7.2%
  • 2015
    6.8%

GDP Per Capital

  • 2017
    $4,200
  • 2016
    $4,000
  • 2015
    $3,800

Gross National Saving

  • 2017
    30.2% of GDP
  • 2016
    30.6% of GDP
  • 2015
    30.3% of GDP

GDP Composition by end Use

  • Household consumption
    68.7% (2017 est.)
  • Government consumption
    6% (2017 est.)
  • Investment in fixed capital
    30.5% (2017 est.)
  • Investment in inventories
    1% (2017 est.)
  • Exports of goods and services
    15% (2017 est.)
  • Imports of goods and services
    -20.3% (2017 est.)

GDP Composition by Sector of Origin

  • Agriculture
    14.2% (2017 est.)
  • Industry
    29.3% (2017 est.)
  • Services
    56.5% (2017 est.)

Inflation Rate Consumer Prices

  • 2017
    5.6%
  • 2016
    5.7%

Current Account Balance

  • 2017
    -$5.322 billion
  • 2016
    $1.391 billion

Exports

  • 2017
    $35.3 billion
  • 2016
    $34.14 billion

Exports Partners

  • Germany
    12.9%
  • US
    12.2%
  • UK
    8.7%
  • Spain
    5.3%
  • France
    5.1%
  • Italy
    4.1%

Exports Commodities

    Garments, knitwear, agricultural products, frozen food (fish and seafood), jute and jute goods, leather

Imports

  • 2017
    $47.56 billion
  • 2016
    $40.28 billion

Imports Partners

  • China
    21.9%
  • India
    15.3%
  • Singapore
    5.7%

Imports Commodities

    Cotton, machinery and equipment, chemicals, iron and steel, foodstuffs