Bangladesh



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Bangladesh Economy 2008


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

NOTE: The economy information regarding Bangladesh on this page is re-published from the 2008 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bangladesh Economy 2008 information contained here. All suggestions for corrections of any errors about Bangladesh Economy 2008 should be addressed to the CIA.