Flag of Bangladesh

Bangladesh Economy Profile 2019

Home > Factbook > Countries > Bangladesh

Economy - overview

Bangladesh's economy has grown roughly 6% per year since 2005 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.

 

Garments, the backbone of Bangladesh's industrial sector, accounted for more than 80% of total exports in FY 2016-17. The industrial sector continues to grow, despite the need for improvements in factory safety conditions. Steady export growth in the garment sector, combined with $13 billion in remittances from overseas Bangladeshis, contributed to Bangladesh's rising foreign exchange reserves in FY 2016-17. Recent improvements to energy infrastructure, including the start of liquefied natural gas imports in 2018, represent a major step forward in resolving a key growth bottleneck.

GDP (purchasing power parity)
$690.3 billion (2017 est.)
$642.7 billion (2016 est.)
$599.5 billion (2015 est.)

note: data are in 2017 dollars

GDP (official exchange rate)
$261.5 billion (2017 est.)
GDP - real growth rate
7.4% (2017 est.)
7.2% (2016 est.)
6.8% (2015 est.)
GDP - per capita (PPP)
$4,200 (2017 est.)
$4,000 (2016 est.)
$3,800 (2015 est.)

note: data are in 2017 dollars

Gross national saving
30.2% of GDP (2017 est.)
30.6% of GDP (2016 est.)
30.3% of GDP (2015 est.)
GDP - composition, by end use
household consumption: 68.7% (2017 est.)
government consumption: 6% (2017 est.)
investment in fixed capital: 30.5% (2017 est.)
investment in inventories: 1% (2017 est.)
exports of goods and services: 15% (2017 est.)
imports of goods and services: -20.3% (2017 est.)
GDP - composition by sector
agriculture: 14.2% (2017 est.)
industry: 29.3% (2017 est.)
services: 56.5% (2017 est.)
Population below poverty line
24.3% (2016 est.)
Labor force
66.64 million (2017 est.)

note: extensive migration of labor to Saudi Arabia, Kuwait, UAE, Oman, Qatar, and Malaysia

Labor force - by occupation
agriculture: 42.7%
industry: 20.5%
services: 36.9% (2016 est.)
Unemployment rate
4.4% (2017 est.)
4.4% (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 15-24
total: 12.8%
male: 10.8%
female: 16.8% (2017 est.)
Household income or consumption by percentage share
lowest 10%: 4%
highest 10%: 27% (2010 est.)
Distribution of family income - Gini index
32.1 (2010)
33.2 (2005)
Budget
revenues: 25.1 billion (2017 est.)
expenditures: 33.5 billion (2017 est.)
Taxes and other revenues
9.6% (of GDP) (2017 est.)
Budget surplus (+) or deficit (-)
-3.2% (of GDP) (2017 est.)
Public debt
33.1% of GDP (2017 est.)
33.3% of GDP (2016 est.)
Inflation rate (consumer prices)
5.6% (2017 est.)
5.7% (2016 est.)
Central bank discount rate
5% (11 December 2017)
5% (30 October 2015)
Commercial bank prime lending rate
9.54% (31 December 2017 est.)
10.41% (31 December 2016 est.)
Stock of narrow money
$28.68 billion (31 December 2017 est.)
$25.98 billion (31 December 2016 est.)
Stock of broad money
$28.68 billion (31 December 2017 est.)
$25.98 billion (31 December 2016 est.)
Stock of domestic credit
$152.1 billion (31 December 2017 est.)
$135.3 billion (31 December 2016 est.)
Market value of publicly traded shares
$92.33 billion (30 September 2017 est.)
$77.99 billion (31 December 2016 est.)
$71.73 billion (31 December 2015 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
10.2% (2017 est.)
Current Account Balance
-$5.322 billion (2017 est.)
$1.391 billion (2016 est.)
Exports
$35.3 billion (2017 est.)
$34.14 billion (2016 est.)
Exports - commodities
garments, knitwear, agricultural products, frozen food (fish and seafood), jute and jute goods, leather
Exports - partners
Germany 12.9%, US 12.2%, UK 8.7%, Spain 5.3%, France 5.1%, Italy 4.1% (2017)
Imports
$47.56 billion (2017 est.)
$40.28 billion (2016 est.)
Imports - commodities
cotton, machinery and equipment, chemicals, iron and steel, foodstuffs
Imports - partners
China 21.9%, India 15.3%, Singapore 5.7% (2017)
Reserves of foreign exchange and gold
$33.42 billion (31 December 2017 est.)
$32.28 billion (31 December 2016 est.)
Debt - external
$50.26 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
$369.6 million (31 December 2017 est.)
$228.5 million (31 December 2016 est.)
Exchange rates
taka (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 year
1 July - 30 June

Source: CIA World Factbook
This page was last updated on December 7, 2019

Economy Comparison