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Bangladesh Economy Profile 2018

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Economy - overviewBangladesh's economy has grown roughly 6% per year since 1996 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.

Garment exports, the backbone of Bangladesh's industrial sector, accounted for more than 80% of total exports and surpassed $25 billion in 2016. The sector continues to grow, despite a series of high-profile factory accidents that have killed more than 1,000 workers and crippling strikes, including a nationwide transportation blockade orchestrated by the political opposition during the first several months of 2015. Steady export growth in the garment sector combined with remittances from overseas Bangladeshis - which totaled about $15 billion and 8% of GDP in 2015 - are key contributors to Bangladesh's sustained economic growth and rising foreign exchange reserves.
GDP (purchasing power parity)$686.5 billion (2017 est.)
$640.7 billion (2016 est.)
$597.8 billion (2015 est.)
note: data are in 2017 dollars
GDP (official exchange rate)$250 billion (2016 est.)
GDP - real growth rate7.1% (2017 est.)
7.2% (2016 est.)
6.8% (2015 est.)
GDP - per capita (PPP)$4,200 (2017 est.)
$4,000 (2016 est.)
$3,700 (2015 est.)
note: data are in 2017 dollars
Gross national saving29.7% of GDP (2017 est.)
30.9% of GDP (2016 est.)
30.3% of GDP (2015 est.)
GDP - composition, by end usehousehold consumption: 67.5%
government consumption: 6.4%
investment in fixed capital: 30.3%
investment in inventories: 1%
exports of goods and services: 15.5%
imports of goods and services: -20.7% (2017 est.)
GDP - composition by sectoragriculture: 14.2%
industry: 29.2%
services: 56.5% (2017 est.)
Population below poverty line31.5% (2010 est.)
Labor force73.41 million
note: extensive migration of labor to Saudi Arabia, Kuwait, UAE, Oman, Qatar, and Malaysia (2017 est.)
Labor force - by occupationagriculture: 47%
industry: 13%
services: 40% (2010 est.)
Unemployment rate4.1% (2017 est.)
4.1% (2016 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
Unemployment, youth ages 15-24total: 9.4%
male: 9.5%
female: 9.4% (2013 est.)
Household income or consumption by percentage sharelowest 10%: 4%
highest 10%: 27% (2010 est.)
Distribution of family income - Gini index32.1 (2010)
33.6 (1996)
Budgetrevenues: $27.08 billion
expenditures: $39.31 billion (2017 est.)
Taxes and other revenues10.8% of GDP (2017 est.)
Budget surplus (+) or deficit (-)-4.9% of GDP (2017 est.)
Public debt28.1% of GDP (2017 est.)
26.9% of GDP (2016 est.)
Inflation rate (consumer prices)5.7% (2017 est.)
5.7% (2016 est.)
Central bank discount rate5% (30 October 2016)
5% (30 October 2015)
Commercial bank prime lending rate10.2% (31 December 2017 est.)
10.41% (31 December 2016 est.)
Stock of narrow money$28.37 billion (31 December 2017 est.)
$25.94 billion (31 December 2016 est.)
Stock of broad money$132.1 billion (31 December 2017 est.)
$121.1 billion (31 December 2016 est.)
Stock of domestic credit$144.9 billion (31 December 2017 est.)
$133.3 billion (31 December 2016 est.)
Market value of publicly traded shares$50.98 billion (31 December 2015 est.)
$41.73 billion (31 December 2014 est.)
$23.55 billion (31 December 2011 est.)
Agriculture - productsrice, jute, tea, wheat, sugarcane, potatoes, tobacco, pulses, oilseeds, spices, fruit; beef, milk, poultry
Industriesjute, 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 rate8.2% (2017 est.)
Current Account Balance-$1.751 billion (2017 est.)
$1.381 billion (2016 est.)
Exports$35.91 billion (2017 est.)
$34.14 billion (2016 est.)
Exports - commoditiesgarments, knitwear, agricultural products, frozen food (fish and seafood), jute and jute goods, leather
Exports - partnersUS 13.1%, Germany 12.7%, UK 8.6%, France 5.1%, Spain 5% (2016)
Imports$42.38 billion (2017 est.)
$40.37 billion (2016 est.)
Imports - commoditiescotton, machinery and equipment, chemicals, iron and steel, foodstuffs
Imports - partnersChina 24.3%, India 13.4%, Singapore 5.1%, Japan 4.5% (2016)
Reserves of foreign exchange and gold$33.66 billion (31 December 2017 est.)
$32.28 billion (31 December 2016 est.)
Debt - external$45.07 billion (31 December 2017 est.)
$41.85 billion (31 December 2016 est.)
Stock of direct foreign investment - at home$14.62 billion (31 December 2017 est.)
$13.24 billion (31 December 2016 est.)
Stock of direct foreign investment - abroad$389.5 million (31 December 2017 est.)
$228.5 million (31 December 2016 est.)
Exchange ratestaka (BDT) per US dollar -
80.69 (2017 est.)
78.468 (2016 est.)
78.468 (2015 est.)
77.947 (2014 est.)
77.614 (2013 est.)
Fiscal year1 July - 30 June

Source: CIA World Factbook
This page was last updated on January 20, 2018

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