Economy – overview: Bangladesh

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 Bangladeshý?”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 Bangladeshý?”s current account surplus and record foreign exchange holdings.

GDP (purchasing power parity):
$324.6 billion (2013 est.)
country comparison to the world: 44
$307 billion (2012 est.)
$289.2 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$140.2 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP – real growth rate:
5.8% (2013 est.)
country comparison to the world: 42
6.1% (2012 est.)
6.5% (2011 est.)
[see also: GDP – real growth rate country ranks ]

GDP – per capita:
$2,100 (2013 est.)
country comparison to the world: 194
$2,000 (2012 est.)
$1,900 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP – per capita country ranks ]

Gross national saving:
28.3% of GDP (2013 est.)
country comparison to the world: 34
27% of GDP (2012 est.)
25% of GDP (2011 est.)
[see also: Gross national saving country ranks ]

GDP – composition, by end use:
household consumption: 75.3%
government consumption: 5.7%
investment in fixed capital: 25.6%
investment in inventories: 3.6%
exports of goods and services: 24.5%
imports of goods and services: -34.7%
(2013 est.)

GDP – composition, by sector of origin:
agriculture: 17.2%
industry: 28.9%
services: 53.9% (2013 est.)

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
[see also: Industrial production growth rate country ranks ]

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.)
[see also: Labor force country ranks ]

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
[see also: Unemployment rate country ranks ]

Population below poverty line:
31.5% (2010 est.)
[see also: Population below poverty line country ranks ]

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)
[see also: Distribution of family income – Gini index country ranks ]

Budget:
revenues: $17.19 billion
expenditures: $24.02 billion (2013 est.)

Taxes and other revenues:
12.3% of GDP (2013 est.)
country comparison to the world: 203
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-4.9% of GDP (2013 est.)
country comparison to the world: 164
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
30.9% of GDP (2013 est.)
country comparison to the world: 118
32.2% of GDP (2012 est.)
[see also: Public debt country ranks ]

Fiscal year:
1 July – 30 June

Inflation rate (consumer prices):
7.6% (2013 est.)
country comparison to the world: 191
6.6% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
5% (31 December 2010 est.)
country comparison to the world: 69
5% (31 December 2009 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
13% (31 December 2013 est.)
country comparison to the world: 58
13% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$17.11 billion (31 December 2013 est.)
country comparison to the world: 67
$14.85 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$85.61 billion (31 December 2013 est.)
country comparison to the world: 58
$70.87 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$93.38 billion (31 December 2013 est.)
country comparison to the world: 53
$79.32 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]

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.)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$3.541 billion (2013 est.)
country comparison to the world: 32
$1.754 billion (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$26.91 billion (2013 est.)
country comparison to the world: 68
$24.92 billion (2012 est.)
[see also: Exports country ranks ]

Exports – commodities:
garments, knitwear, agricultural products, frozen food (fish and seafood), jute and jute goods, leather

Exports – partners:
US 18.7%, Germany 15.8%, UK 10.2%, France 6.2%, Spain 4.6%, Canada 4.3%, Italy 4% (2013 est.)

Imports:
$32.94 billion (2013 est.)
country comparison to the world: 64
$32.29 billion (2012 est.)
[see also: Imports country ranks ]

Imports – commodities:
machinery and equipment, chemicals, iron and steel, textiles, foodstuffs, petroleum products, cement

Imports – partners:
China 21.7%, India 16.3%, Malaysia 5.2%, Republic of Korea 4.5%, Japan 4.1% (2013 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.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt – external:
$30.69 billion (31 December 2013 est.)
country comparison to the world: 72
$29.53 billion (31 December 2012 est.)
[see also: Debt – external country ranks ]

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.)
[see also: Stock of direct foreign investment – at home country ranks ]

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.)
[see also: Stock of direct foreign investment – abroad country ranks ]

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)

NOTE: The information regarding Bangladesh on this page is re-published from the 2015 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bangladesh Economy 2015 information contained here. All suggestions for corrections of any errors about Bangladesh Economy 2015 should be addressed to the CIA.

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