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Economy - overview:
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The economy has grown 5-6% over the past few years despite inefficient state-owned enterprises, delays in exploiting natural gas resources, 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. Garment exports and remittances from Bangladeshis working overseas, mainly in the Middle East and East Asia, fuel economic growth.
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GDP (purchasing power parity):
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$208.3 billion (2007 est.)
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GDP (official exchange rate):
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$72.42 billion (2007 est.)
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GDP - real growth rate:
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6.3% (2007 est.)
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GDP - per capita (PPP):
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$1,400 (2007 est.)
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GDP - composition by sector:
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agriculture: 19%
industry: 28.7%
services: 52.3% (2007 est.)
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Labor force:
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69.4 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. (2007 est.)
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Labor force - by occupation:
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agriculture: 63%
industry: 11%
services: 26% (FY95/96)
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Unemployment rate:
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2.5% (includes underemployment) (2007 est.)
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Household income or consumption by percentage share:
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lowest 10%: 3.7%
highest 10%: 27.9% (2000)
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Distribution of family income - Gini index:
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33.4 (2000)
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Investment (gross fixed):
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24.3% of GDP (2007 est.)
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Budget:
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revenues: $7.01 billion
expenditures: $9.464 billion (2007 est.)
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Public debt:
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37.4% of GDP (2007 est.)
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Inflation rate (consumer prices):
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9.1% (2007 est.)
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Central bank discount rate:
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5% (31 December 2007)
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Commercial bank prime lending rate:
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16% (31 December 2007)
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Stock of money:
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$8.444 billion (31 December 2007)
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Stock of quasi money:
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$32.4 billion (31 December 2007)
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Stock of domestic credit:
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$40.15 billion (31 December 2007)
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Agriculture - products:
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rice, jute, tea, wheat, sugarcane, potatoes, tobacco, pulses, oilseeds, spices, fruit; beef, milk, poultry
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Industries:
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cotton textiles, jute, garments, tea processing, paper newsprint, cement, chemical fertilizer, light engineering, sugar
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Industrial production growth rate:
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8.4% (2007 est.)
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Electricity - production:
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22.78 billion kWh (2007 est.)
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Electricity - consumption:
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21.37 billion kWh (2006 est.)
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Electricity - exports:
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0 kWh (2007 est.)
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Electricity - imports:
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0 kWh (2007 est.)
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Oil - production:
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6,746 bbl/day (2007 est.)
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Oil - consumption:
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89,940 bbl/day (2006 est.)
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Oil - exports:
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1,351 bbl/day (2005)
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Oil - imports:
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83,220 bbl/day (2005)
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Oil - proved reserves:
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28 million bbl (1 January 2008 est.)
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Natural gas - production:
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15.7 billion cu m (2007 est.)
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Natural gas - consumption:
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15.7 billion cu m (2007 est.)
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Natural gas - exports:
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0 cu m (2007 est.)
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Natural gas - imports:
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0 cu m (2007 est.)
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Natural gas - proved reserves:
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141.6 billion cu m (1 January 2008 est.)
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Current account balance:
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$804.7 million (2007 est.)
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Exports:
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$12.45 billion (2007 est.)
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Exports - commodities:
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garments, jute and jute goods, leather, frozen fish and seafood
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Exports - partners:
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US 23%, Germany 13%, UK 9.1%, France 5.5%, Belgium 4% (2007)
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Imports:
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$16.67 billion (2007 est.)
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Imports - commodities:
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machinery and equipment, chemicals, iron and steel, textiles, foodstuffs, petroleum products, cement
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Imports - partners:
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China 15%, India 14.3%, Kuwait 8.3%, Singapore 6.2%, Hong Kong 4.2% (2007)
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Reserves of foreign exchange and gold:
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$5.278 billion (31 December 2007 est.)
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Debt - external:
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$21.23 billion (31 December 2007 est.)
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Stock of direct foreign investment - at home:
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$4.971 billion (2007 est.)
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Stock of direct foreign investment - abroad:
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$104 million (2007 est.)
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Market value of publicly traded shares:
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$3.61 billion (2006)
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Currency (code):
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taka (BDT)
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Exchange rates:
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taka (BDT) per US dollar - 69.893 (2007), 69.031 (2006), 64.328 (2005), 59.513 (2004), 58.15 (2003)
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