The Economy of Bangladesh

Economy - overview:
The economy has grown 5-6% per year since 1996 despite political instability, poor infrastructure, corruption, insufficient power supplies, and slow realization of economic reforms. Bangladesh remains a poor nation, overpopulated, and inefficiently governed. Although more than half of GDP is generated by the service sector, 45% of Bangladeshis are employed in the agriculture sector, with rice as the single most important product. Bangladesh's growth was strong during the 2008-09 global financial crisis and recession. Clothing exports, totaling 12.3 billion dollars in FY09 and remittances from overseas Bangladeshis, totaling 11 billion dollars in FY10, explained almost 25% of GDP.
GDP (purchasing power parity):
$ 258.6 billion (2010 est.).
country comparison of the world: 45
$ 243.9 billion (2009 est.).
$ 230.6 billion (2008 est.).
Note: Data are in 2010 U.S. dollars
GDP (official exchange rate):
$ 104.9 billion (2010 est.).
GDP - real growth rate:
6% (2010 est.).
country comparison of the world: 55
5.8% (2009 est.).
6% (2008 est.).
GDP - per capita (PPP):
$ 1,700 (2010 est.).
country comparison of the world: 196
$ 1,600 (2009 est.).
$ 1,500 (2008 est.).
Note: Data are in 2010 U.S. dollars
GDP - composition by sector:
agriculture: 18.4%
industry: 28.7%
services: 52.9% (2010 est.).
Labor:
73.87 million
country comparison of the world: 8
note: extensive export of labor to Saudi Arabia, Kuwait, UAE, Oman, Qatar, and Malaysia, the workers' remittances were 10.9 billion dollars in FY09/10 (2010 est.).
Labour force - by occupation:
agriculture: 45%
industry: 30%
services: 25% (2008)
Unemployment rate:
4.8% (2010 est.).
country comparison of the world: 44
5.1% (2009 est.).
note: about 40% of the population is underemployed, many participants in the workforce was only a few hours a week at low wages
Population below poverty line:
40% (2010 est.).
Household income or consumption by percentage:
the lowest 10%: NA
10% higher: 26.6% (2008 est.).
Distribution of family income - Gini index:
33.2 (2005)
country comparison of the world: 95
33.6 (1996)
Investment (gross fixed):
24.4% of GDP (2010 est.).
country comparison of the world: 48
Budget:
revenue: 11.43 billion dollars
expenditures: $ 15.9 billion (2010 est.).
Public debt:
39.3% of GDP (2010 est.).
country comparison of the world: 75
39.7% of GDP (2009 est.).
Inflation rate (consumer prices):
8.1% (2010 est.).
country comparison of the world: 185
5.4% (2009 est.).
Discount rate of central bank:
5% (October 31, 2010)
country comparison of the world: 81
5% (December 31, 2008)
Commercial bank interest rate Home:
11The 18% (the September 30, 2010 est.)
country comparison of the world: 46
14.6% (on 31 December 2009 est.).
Narrow money stock:
$ 13.98 billion (31 December 2010 est.).
country comparison of the world: 67
$ 10.92 billion (31 December 2009 est.).
Reserve broad money:
$ 57.21 billion (31 December 2010 est.).
country comparison of the world: 64
$ 63.03 billion (31 December 2009)
Reserve domestic credit:
$ 62.2 billion (31 December 2010 est.).
country comparison of the world: 60
$ 53.77 billion (31 December 2009 est.).
Market value of publicly switched parties:
$ 7,068 billion (31 December 2009)
country comparison of the world: 74
$ 6,671 billion (31 December 2008)
$ 6,793 billion (31 December 2007)
Agriculture - products:
rice, jute, tea, wheat, sugarcane, potatoes, snuff, pulses, oilseeds, spices, fruit, beef, milk, poultry
Industries:
cotton textiles, jute, linen, tea processing, paper over the press, cement, chemical fertilizer, light engineering, sugar
Growth rate of industrial production:
6.4% (2010 est.).
country comparison of the world: 54
Electricity - production:
25.62 billion of kWhs (2009 est.).
country comparison of the world: 65
Electricity - consumption:
23.94 billion of kWhs (2009 est.).
country comparison of the world: 65
Electricity - exports:
0 kWh (2008 est.).
Electricity - imports:
0 kWh (2008 est.).
Oil - production:
5.733 bbl / day (2009 est.).
country comparison of the world: 93
Oil - consumption:
82.340 bbl / day (2010)
country comparison of the world: 84
Oil - exports:
2.612 bbl / day (2007 est.).
country comparison of the world: 108
Oil - imports:
77.340 bbl / day (2010 est.).
country comparison of the world: 76
Oil - proved reserves:
28 million bbl (on January 1, 2010 est.)
country comparison of the world: 83
Natural gas - production:
19.91 billion cu m (2010 est.).
country comparison of the world: 32
Natural gas - consumption:
20.1 billion cu m (2010 est.).
country comparison of the world: 34
Natural gas - exports:
0 cu m (2008 est.).
country comparison of the world: 60
Natural gas - imports:
0 cu m (2008 est.).
country comparison of the world: 152
Natural gas - proved reserves:
195.4 billion cu m (1 January 2010 est.).
country comparison of the world: 46
Current account balance:
$ 3,734 billion (2010 est.).
country comparison of the world: 35
$ 2,416 billion (2009 est.).
Exports:
$ 16.24 billion (2010 est.).
country comparison of the world: 73
$ 15.58 billion (2009 est.).
Exports - commodities:
clothing, frozen fish and seafood, jute goods and jute, leather
Exports - partners:
U.S. 22.5%, Germany 14.2%, UK 9.6%, France 7%, Netherlands 6.4% (2009)
Imports:
$ 21.34 billion (2010 est.).
country comparison of the world: 68
$ 20.3 billion (2009 est.).
Imports - commodities:
machinery and equipment, chemical, iron and steel, tissues, food products, petroleum products, cement
Imports - partners:
China's 16.16%, 12.61% India, Singapore 7.55%, Japan 4.63% Malaysia 4.46% (2009)
Reserves of foreign exchange and gold:
$ 10.79 billion (31 December 2010 est.).
country comparison of the world: 57
$ 10.34 billion (31 December 2009 est.).
Debt - external:
$ 24.46 billion (31 December 2010 est.).
country comparison of the world: 68
$ 24.22 billion (31 December 2009 est.).
Book direct foreign investment - at home:
$ 6.72 billion (31 December 2010 est.).
country comparison of the world: 85
$ 5,617 billion (31 December 2009 est.).
Book direct foreign investment - abroad:
$ 82 million (31 December 2010 est.).
country comparison of the world: 81
$ 81 million (31 December 2009 est.).
Exchange rates:
taka (BDT) per U.S. dollar-
70.59 (2010)
69.04 (2009)
68.554 (2008)
69.893 (2007)
69.031 (2006)