Bangladesh Economy Profile 2013

Economy - overview

In real terms Bangladesh's economy has grown 5.8% 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)

$305.5 billion (2012 est.)
$288.1 billion (2011 est.)
$270.5 billion (2010 est.)
note: data are in 2012 US dollars

GDP (official exchange rate)

$118.7 billion (2012 est.)

GDP - real growth rate

6.1% (2012 est.)
6.5% (2011 est.)
6.4% (2010 est.)

GDP - per capita (PPP)

$2,000 (2012 est.)
$1,900 (2011 est.)
$1,800 (2010 est.)
note: data are in 2012 US dollars

GDP - composition by sector

agriculture: 17.3%
industry: 28.6%
services: 54.1% (2012 est.)

Population below poverty line

31.51% (2010 est.)

Labor force

77 million
note: extensive export of labor to Saudi Arabia, Kuwait, UAE, Oman, Qatar, and Malaysia; workers' remittances were $10.9 billion in FY09/10 (2012 est.)

Labor force - by occupation

agriculture: 45%
industry: 30%
services: 25% (2008)

Unemployment rate

5% (2012 est.)
5% (2011 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

Unemployment, youth ages 15-24

total: 9.3%
male: 8%
female: 13.6% (2006)

Household income or consumption by percentage share

lowest 10%: 4%
highest 10%: 27% (2010 est.)

Distribution of family income - Gini index

33.2 (2005)
33.6 (1996)

Investment (gross fixed)

25.1% of GDP (2012 est.)

Budget

revenues: $13.98 billion
expenditures: $19.62 billion (2012 est.)

Taxes and other revenues

11.8% of GDP (2012 est.)

Budget surplus (+) or deficit (-)

-4.8% of GDP (2012 est.)

Public debt

32% of GDP (2012 est.)
33.9% of GDP (2011 est.)

Inflation rate (consumer prices)

8.8% (2012 est.)
10.7% (2011 est.)

Central bank discount rate

5% (31 December 2010 est.)
5% (31 December 2009 est.)

Commercial bank prime lending rate

13.3% (31 December 2012 est.)
13.25% (31 December 2011 est.)

Stock of money

$10.35 billion (30 September 2009)
$8.444 billion (31 December 2007)

Stock of narrow money

$14.1 billion (31 December 2012 est.)
$13.19 billion (31 December 2011 est.)

Stock of broad money

$66.84 billion (31 December 2011 est.)
$66.14 billion (31 December 2010 est.)

Stock of quasi money

$45.23 billion (30 September 2009)
$37.98 billion (31 December 2008)

Stock of domestic credit

$80.81 billion (31 December 2012 est.)
$68.57 billion (31 December 2011 est.)

Market value of publicly traded shares

$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

7.4% (2011 est.)

Current Account Balance

-$941.9 million (2012 est.)
$243.6 million (2011 est.)

Exports

$25.79 billion (2012 est.)
$24.56 billion (2011 est.)

Exports - commodities

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

Exports - partners

US 19.4%, Germany 16.5%, UK 10%, France 7.3%, Italy 4.4%, Spain 4.2%, Netherlands 4.2% (2011)

Imports

$35.06 billion (2012 est.)
$32.58 billion (2011 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

$10.19 billion (31 December 2012 est.)
$9.192 billion (31 December 2011 est.)

Debt - external

$36.21 billion (31 December 2012 est.)
$33.84 billion (31 December 2011 est.)

Stock of direct foreign investment - at home

$7.849 billion (31 December 2012 est.)
$6.85 billion (31 December 2011 est.)

Stock of direct foreign investment - abroad

$93.9 million (31 December 2012 est.)
$92.9 million (31 December 2011 est.)

Exchange rates

taka (BDT) per US dollar -
82.17 (2012 est.)
74.152 (2011 est.)
69.649 (2010 est.)
69.04 (2009)
68.554 (2008)

Fiscal year

1 July - 30 June