Overview: The economy is based on the output of a narrow range of agricultural products, such as jute, which is the main cash crop and major source of export earnings. Bangladesh is hampered by a relative lack of natural resources, a rapid population growth of 2.8% a year, a limited infrastructure, and is highly vulnerable to natural disasters. Despite these constraints, real GDP averaged about 4% annually during 1981-86. One of the poorest nations in the world, alleviation of poverty remains the cornerstone of the government's development strategy. The agricultural sector contributes over 50% to GDP and 75% to exports, and employs over two-thirds of the labor force. Industry accounts for about 10% of GDP.

GDP: $18.1 billion, per capita $170; real growth rate - 2.9% (FY88)

Inflation rate (consumer prices): 11.4% (FY88 est.)

Unemployment rate: 30% (FY88 est.)

Budget: revenues $1.8 billion; expenditures $3.3 billion, including capital expenditures of $1.6 billion (FY88)

Exports: $1.2 billion (f.o.b., FY88 est.); @m5commodities--jute, tea, leather, shrimp, manufacturing; @m5partners--US 24%, Western Europe 22%, Middle East 9%, Japan 8%, Eastern Europe 7%

Imports: $2.9 billion (c.i.f., FY88 est.); @m5commodities--food, petroleum and other energy, nonfood consumer goods, semiprocessed goods, and capital equipment; @m5partners--Western Europe 18%, Japan 14%, Middle East 9%, US 8%

External debt: $8.86 billion (December 1988)

Industrial production: growth rate 2.0% (FY88 est.)

Electricity: 1,570,000 kW capacity; 4,800 million kWh produced, 45 kWh per capita (1988)

Industries: jute manufacturing, food processing, cotton textiles, petroleum, urea fertilizer

Agriculture: accounts for about 50% of GDP and 75% of both employment and exports; imports 10% of food grain requirements; world's largest exporter of jute; commercial products--jute, rice, wheat, tea, sugarcane, potatoes, beef, milk, poultry; shortages include wheat, vegetable oils and cotton; fish catch 778,000 metric tons in 1986

Aid: NA

Currency: taka (plural--taka); 1 taka (Tk) = 100 paise

Exchange rates: taka (Tk) per US$1--32.270 (January 1989), 31.733 (1988), 30.950 (1987), 30.407 (1986), 27.995 (1985)

Fiscal year: 1 July-30 June

NOTE: The information regarding Bangladesh on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bangladesh Economy 1989 information contained here. All suggestions for corrections of any errors about Bangladesh Economy 1989 should be addressed to the CIA.