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Bangladesh Economy 2020

SOURCE: 2020 CIA WORLD FACTBOOK AND OTHER SOURCES











Bangladesh Economy 2020
SOURCE: 2020 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 27, 2020

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
country comparison to the world (CIA rank, may be based on non-current data): 33
[see also: GDP country ranks ]

GDP (official exchange rate):
$261.5 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
7.4% (2017 est.)
7.2% (2016 est.)
6.8% (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 13
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$4,200 (2017 est.)
$4,000 (2016 est.)
$3,800 (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 176
[see also: GDP - per capita country ranks ]

Gross national saving:
30.2% of GDP (2017 est.)
30.6% of GDP (2016 est.)
30.3% of GDP (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 30
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 68.7% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 6% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 30.5% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 1% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 15% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -20.3% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 14.2% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 29.3% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 56.5% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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.)
country comparison to the world (CIA rank, may be based on non-current data): 15
[see also: Industrial production growth rate country ranks ]

Labor force:
66.64 million (2017 est.)
note: extensive migration of labor to Saudi Arabia, Kuwait, UAE, Oman, Qatar, and Malaysia
country comparison to the world (CIA rank, may be based on non-current data): 7
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 42.7%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 20.5%
[see also: Labor force - by occupation - industry country ranks ]
services: 36.9% (2016 est.)
[see also: Labor force - by occupation - services country ranks ]

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
country comparison to the world (CIA rank, may be based on non-current data): 58
[see also: Unemployment rate country ranks ]

Population below poverty line:
24.3% (2016 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 4%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 27% (2010 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
32.1 (2010)
33.2 (2005)
country comparison to the world (CIA rank, may be based on non-current data): 118
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 25.1 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 33.5 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
9.6% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 214
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.2% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 137
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
33.1% of GDP (2017 est.)
33.3% of GDP (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 159
[see also: Public debt country ranks ]

Fiscal year:
1 July - 30 June

Inflation rate (consumer prices):
5.6% (2017 est.)
5.7% (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 180
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
5% (11 December 2017)
5% (30 October 2015)
country comparison to the world (CIA rank, may be based on non-current data): 80
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
9.54% (31 December 2017 est.)
10.41% (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 87
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$28.68 billion (31 December 2017 est.)
$25.98 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 64
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$28.68 billion (31 December 2017 est.)
$25.98 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 64
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$152.1 billion (31 December 2017 est.)
$135.3 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 49
[see also: Stock of domestic credit country ranks ]

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.)
country comparison to the world (CIA rank, may be based on non-current data): 41
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$5.322 billion (2017 est.)
$1.391 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 184
[see also: Current account balance country ranks ]

Exports:
$35.3 billion (2017 est.)
$34.14 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 57
[see also: Exports country ranks ]

Exports - partners:
Germany 12.9%, US 12.2%, UK 8.7%, Spain 5.3%, France 5.1%, Italy 4.1% (2017)

Exports - commodities:
garments, knitwear, agricultural products, frozen food (fish and seafood), jute and jute goods, leather

Imports:
$47.56 billion (2017 est.)
$40.28 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 56
[see also: Imports country ranks ]

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.)
country comparison to the world (CIA rank, may be based on non-current data): 49
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$50.26 billion (31 December 2017 est.)
$41.85 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 66
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$14.62 billion (31 December 2017 est.)
$13.24 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 91
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$369.6 million (31 December 2017 est.)
$228.5 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 100
[see also: Stock of direct foreign investment - abroad country ranks ]

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.)


NOTE: 1) The information regarding Bangladesh on this page is re-published from the 2020 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Bangladesh Economy 2020 information contained here. All suggestions for corrections of any errors about Bangladesh Economy 2020 should be addressed to the CIA or the source cited on each page.
2) The rank that you see is the CIA reported rank, which may have the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assigns counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order.






This page was last modified 27-Jan-20
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