Economy - 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, nearly two-thirds 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 $9.7 billion in FY09 accounted for almost 25% of GDP.
GDP (purchasing power parity):
$242.2 billion (2009 est.)
note: data are in 2009 US dollars
GDP (official exchange rate):
$92.12 billion (2009 est.)
GDP - real growth rate:
5.7% (2009 est.)
GDP - per capita (PPP):
$1,600 (2009 est.)
note: data are in 2009 US dollars
GDP - composition by sector:
agriculture: 18.7%
industry:
28.7%
services:
52.6% (2009 est.)
Labor force:
72.5 million
note:
extensive export of labor to Saudi Arabia, Kuwait, UAE, Oman, Qatar, and Malaysia; workers' remittances estimated at $4.8 billion in 2005-06. (2009 est.)
Labor force - by occupation:
agriculture: 45%
industry:
30%
services:
25% (FY95/96)
Unemployment rate:
2.5% (2009 est.)
Population below poverty line:
36.3% (2004 est.)
Household income or consumption by percentage share:
lowest 10%: 8.8%
highest 10%:
26.6% (2005 est.)
Distribution of family income - Gini index:
33.2 (2005)
Investment (gross fixed):
23.7% of GDP (2009 est.)
Budget:
revenues: $11.4 billion
expenditures:
$16.3 billion (2009 est.)
Public debt:
38.2% of GDP (2009 est.)
Inflation rate (consumer prices):
5.1% (2009 est.)
Central bank discount rate:
5% (31 December 2008)
Commercial bank prime lending rate:
16.38% (31 December 2008)
Stock of money:
$9.294 billion (31 December 2008)
Stock of quasi money:
$37.98 billion (31 December 2008)
Stock of domestic credit:
$47.03 billion (31 December 2008)
Market value of publicly traded shares:
$6.671 billion (31 December 2008)
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:
5.9% (2009 est.)
Electricity - production:
22.99 billion kWh (2007 est.)
Electricity - consumption:
21.38 billion kWh (2007 est.)
Electricity - exports:
0 kWh (2008 est.)
Electricity - imports:
0 kWh (2008 est.)
Oil - production:
6,426 bbl/day (2008 est.)
Oil - consumption:
95,000 bbl/day (2008 est.)
Oil - exports:
2,612 bbl/day (2007 est.)
Oil - imports:
87,660 bbl/day (2007 est.)
Oil - proved reserves:
28 million bbl (1 January 2009 est.)
Natural gas - production:
17.9 billion cu m (2008 est.)
Natural gas - consumption:
17.9 billion cu m (2008 est.)
Natural gas - exports:
0 cu m (2008 est.)
Natural gas - imports:
0 cu m (2008 est.)
Natural gas - proved reserves:
141.6 billion cu m (1 January 2009 est.)
Current account balance:
$2.808 billion (2009 est.)
Exports:
$15.91 billion (2009 est.)
Exports - commodities:
garments, frozen fish and seafood, jute and jute goods, leather
Exports - partners:
US 21%, Germany 13.2%, UK 8.6%, France 6.3%, Netherlands 4.7% (2008)
Imports:
$20.22 billion (2009 est.)
Imports - commodities:
machinery and equipment, chemicals, iron and steel, textiles, foodstuffs, petroleum products, cement
Imports - partners:
China 14.7%, India 14.7%, Kuwait 7.5%, Singapore 7.1%, Japan 4.1% (2008)
Reserves of foreign exchange and gold:
$9.213 billion (31 December 2009 est.)
Debt - external:
$23.22 billion (31 December 2009 est.)
Stock of direct foreign investment - at home:
$7.235 billion (31 December 2009 est.)
Stock of direct foreign investment - abroad:
$98 million (31 December 2009 est.)
Exchange rates:
taka (BDT) per US dollar - 69.047 (2009), 68.554 (2008), 69.893 (2007), 69.031 (2006), 64.328 (2005)
NOTE: The information regarding Bangladesh on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bangladesh Economy 2010 information contained here. All suggestions for corrections of any errors about Bangladesh Economy 2010 should be addressed to the CIA.
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This page was last modified 09-Feb-10