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EconomyEconomy - overview
The economy has grown 5-6% per year since 1996 despite political instability, poor infrastructure, corruption, insufficient power supplies, and slow implementation of economic reforms. Bangladesh remains a poor, overpopulated, and inefficiently-governed nation. Although more than half of GDP is generated through the service sector, 45% of Bangladeshis are employed in the agriculture sector with rice as the single-most-important product. Bangladesh's growth was resilient during the 2008-09 global financial crisis and recession. Garment exports, totaling $12.3 billion in FY09 and remittances from overseas Bangladeshis, totaling $11 billion in FY10, accounted for almost 12% of GDP. Gdp (purchasing power parity) World Ranking: 46
$285.8 billion (2011 est.)
$269.5 billion (2010 est.) $253.4 billion (2009 est.) Note Data are in 2011 US dollars Gdp (official exchange rate)
$113 billion (2011 est.)
Gdp - real growth rate World Ranking: 43
6.1% (2011 est.)
6.4% (2010 est.) 5.9% (2009 est.) Gdp - per capita (ppp) World Ranking: 196
$1,700 (2011 est.)
$1,600 (2010 est.) $1,600 (2009 est.) Note Data are in 2011 US dollars Gdp - composition by sector
Agriculture 18.4%
Industry 28.6% Services 53% (2011 est.) Labor force World Ranking: 7
75.42 million
Note Extensive export of labor to Saudi Arabia, Kuwait, UAE, Oman, Qatar, and Malaysia; workers' remittances were $10.9 billion in FY09/10 (2011 est.) Labor force - by occupation
Agriculture 45%
Industry 30% Services 25% (2008) Unemployment rate World Ranking: 49
5% (2011 est.)
5.1% (2010 est.) Note About 40% of the population is underemployed; many participants in the labor force work only a few hours a week, at low wages Population below poverty line
31.51% (2010 est.)
Household income or consumption by percentage share
Lowest 10% 4%
Highest 10% 27% (2010 est.) Distribution of family income - gini index World Ranking: 98
33.2 (2005)
33.6 (1996) Investment (gross fixed) World Ranking: 45
24.7% of GDP (2011 est.)
Budget
Revenues $12.67 billion
Expenditures $17.15 billion (2011 est.) Taxes and other revenues World Ranking: 208
11.2% of GDP (2011 est.)
Budget surplus (+) or deficit (-) World Ranking: 134
-4% of GDP (2011 est.)
Public debt World Ranking: 97
35.2% of GDP (2011 est.)
31.9% of GDP (2010 est.) Inflation rate (consumer prices) World Ranking: 194
10.7% (2011 est.)
8.1% (2010 est.) Central bank discount rate World Ranking: 72
5% (31 December 2010 est.)
5% (31 December 2009 est.) Commercial bank prime lending rate World Ranking: 63
13.25% (31 December 2011 est.)
13% (31 December 2010 est.) Stock of narrow money World Ranking: 70
$13.06 billion (31 December 2011 est.) $14.12 billion (31 December 2010 est.) Stock of broad money World Ranking: 63
$66.84 billion (31 December 2011 est.) $56.44 billion (31 December 2010 est.) Stock of domestic credit World Ranking: 61
$68.57 billion (31 December 2011 est.) $64.71 billion (31 December 2010 est.) Market value of publicly traded shares World Ranking: 65
$23.55 billion (31 December 2011) $15.68 billion (31 December 2010) $7.068 billion (31 December 2009) 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, drugs and pharmaceuticals, ceramic, tea, salt, sugar, edible oil, soap and detergent, fabricated metal products, electricity and natural gas Industrial production growth rate World Ranking: 37
7.4% (2011 est.)
Electricity - production World Ranking: 66
25.62 billion kWh (2009 est.)
Electricity - consumption World Ranking: 65
23.94 billion kWh (2009 est.)
Electricity - exports
0 kWh (2009 est.)
Electricity - imports
0 kWh (2009 est.)
Oil - production World Ranking: 95
5,724 bbl/day (2010 est.)
Oil - consumption World Ranking: 76
98,000 bbl/day (2010 est.)
Oil - exports World Ranking: 107
2,770 bbl/day (2009 est.)
Oil - imports World Ranking: 76
77,340 bbl/day (2010 est.)
Oil - proved reserves World Ranking: 83
28 million bbl (1 January 2011 est.) Natural gas - production World Ranking: 33
19.75 billion cu m (2009 est.)
Natural gas - consumption World Ranking: 35
20.1 billion cu m (2010 est.)
Natural gas - exports World Ranking: 57
0 cu m (2009 est.)
Natural gas - imports World Ranking: 153
0 cu m (2009 est.)
Natural gas - proved reserves World Ranking: 47
195.4 billion cu m (1 January 2011 est.) Current account balance World Ranking: 98
-$372 million (2011 est.)
$2.502 billion (2010 est.) Exports World Ranking: 70
$23.86 billion (2011 est.)
$19.24 billion (2010 est.) Exports - commodities
Garments, knitwear, agricultural products, frozen food (fish and seafood), jute and jute goods, leather Exports - partners
US 19.7%, Germany 16.1%, UK 9.5%, France 7.2%, Italy 4.3%, Netherlands 4.3%, Spain 4.3%, Canada 4% (2011) Imports World Ranking: 63
$31.75 billion (2011 est.)
$24.72 billion (2010 est.) Imports - commodities
Machinery and equipment, chemicals, iron and steel, textiles, foodstuffs, petroleum products, cement Imports - partners
China 18.2%, India 13.5%, Malaysia 4.9% (2011) Reserves of foreign exchange and gold World Ranking: 76
$9.192 billion (31 December 2011 est.) $11.18 billion (31 December 2010 est.) Debt - external World Ranking: 74
$25.22 billion (31 December 2011 est.) $24.96 billion (31 December 2010 est.) Stock of direct foreign investment - at home World Ranking: 86
$7.216 billion (31 December 2011 est.) $6.107 billion (31 December 2010 est.) Stock of direct foreign investment - abroad World Ranking: 82
$94.2 million (31 December 2011 est.) $91.2 million (31 December 2010 est.) Exchange rates
Taka (BDT) per US dollar -
74.152 (2011 est.) 69.649 (2010 est.) 69.04 (2009) 68.554 (2008) 69.893 (2007) Fiscal year
1 July - 30 June
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Bangladesh (Dhaka):
 
GPS points from Bangladesh (Dhaka)
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Europeans began to set up trading posts in the area of Bangladesh in the 16th century; eventually the British came to dominate the region and it became part of British India. In 1947, West Pakistan and East Bengal (both primarily Muslim) separated from India (largely Hindu) and jointly became the new country of Pakistan. East Bengal became East Pakistan in 1955, but the awkward arrangement of a two-part country with its territorial units separated by 1,600 km left the Bengalis marginalized and dissatisfied. East Pakistan seceded from its union with West Pakistan in 1971 and was renamed Bangladesh. A military-backed, emergency caretaker regime suspended parliamentary elections planned for January 2007 in an effort to reform the political system and root out corruption. In contrast to the strikes and violent street rallies that had marked Bangladeshi politics in previous years, the parliamentary elections finally held in late December 2008 were mostly peaceful and Sheikh HASINA Wajed was elected prime minister. About a third of this extremely poor country floods annually during the monsoon rainy season, hampering economic development.