Bangladesh officially the People's Republic of Bangladesh is a sovereign state located in South Asia. It is bordered by India and Burma and by the Bay of Bengal to the south. The capital (and largest city) is Dhaka, located in central Bangladesh. The official state language is Bengali. The name Bangladesh means "Country of Bengal" in the official Bengali language.

At April 2010, USA – based ratings agency Standard & Poor's (S&P) awarded Bangladesh a BB- for a long term in credit rating which is below India and well over Pakistan and Sri Lanka in South Asia. And, despite continuous domestic and international efforts to improve economic and demographic prospects, Bangladesh remains a developing nation. However, Bangladesh gradually decreased its dependency on foreign grant and loan from 85% (In 1988) to 2% (In 2010) for its annual development budget. Its per capita income in 2010 was US$641 compared to the world average of $8,985. But, if purchasing power parity (PPP) is taken into account, Bangladesh's economy is the 44th largest in the world at US$257 billion according to the IMF. Jute was once the economic engine of the country.

The country is listed among the Next Eleven economies. It is a founding member of the South Asian Association for Regional Cooperation, the D-8 and BIMSTEC, and a member of the Commonwealth of Nations, the Organisation of Islamic Cooperation and the Non-Aligned Movement. However, Bangladesh continues to face a number of major challenges widespread poverty, and an increasing danger of hydrologic shocks brought on by ecological vulnerability to climate change.

Although two-thirds of Bangladeshis are farmers, more than three quarters of Bangladesh’s export earnings come from the garment industry, which began attracting foreign investors in the 1980s due to cheap labour and low conversion cost. In 2009–10 fiscal year the industry exported US$ 12.6 billion worth of products where in 2002 the exported amount was US$ 5 billion. Recently Bangladesh has been ranked as the 4th largest clothing exporter by the WTO (The World Trade Organization) . whereas, according to The Economist Bangladesh is world’s third-largest clothes-export industry The industry now employs more than 3 million workers, 90% of whom are women. A large part of foreign currency earnings also comes from the remittances sent by expatriates living in other countries.

Bangladesh has seen expansion of its middle class (world's fifty-fourth largest, just below of Singapore & Vietnam), and its consumer industry has also grown. In December 2005, four years after its report on the emerging "BRIC" economies (Brazil, Russia, India, and China), Goldman Sachs named Bangladesh one of the "Next Eleven", along with Egypt, Indonesia, Vietnam and seven other countries. Bangladesh has seen a dramatic increase in foreign direct investment. A number of multinational corporations and local big business houses have made major investments, with the natural gas sector being a priority. In December 2005, the Central Bank of Bangladesh projected GDP growth around 6.5%. In order to enhance economic growth, the government set up several export processing zones to attract foreign investment. These are managed by the Bangladesh Export Processing Zone Authority.

Source: Wikipedia, Economy of Bangladesh.


General Information
Official Name People's Republic of Bangladesh
Capital Dhaka
Main Cities Dhaka, Chittagong, Khulna, Rajashahi, Sylhet, Barisal, Rangpur
Languages Bengali, English
Government Parliamentary Democracy
Independence Day 26 March, 1971
Area 144 thousand sq km
Population 156 million (July 2014 est.)
Currency Taka
Fiscal Year July - June
Climate Tropical monsoon; mild winter(October to March);hot, humid summer(March to June); humid, warm rainy monsoon(June to October)
Time Zone UTC +6
Measures Imperial System. Local measures include: 1 tola=11.66 g; 1 seer=80 tola=932g;
Main Airports Shahjalal International Airport(Dhaka), Shah Amanat International Airport Chittagong, Osmani International Airport(Sylhet)
Main Harbors Chittagong Port, Mongla Port
Source: National sources,2014
Economic Information
  2009 2010 2011 2012 2013
Key Economic Indicator
GDP Nominal (US$,billion) 94.8 106.2 114.1 123 141.3
 GDP Growth (%) 5.9 6.4 6.46 6.1 5.7
Current Account Balance (% of GDP) 2.8 0.47 -1.17 0.84 1.83
Inflation, Consumer Price (%) 5.4 8.1 10.7 6.2 7.5
Foreign Direct Investment (FDI) Inflows(US$, million) 700.16 913.3 1,136.4 990 997.2
General Government Balance (% of GDP) -3.7 -3.1 -4.1 -3.4 -3.9
Economic Growth (% of real change)
Private Consumption 5.9 5.1 5.1 6.0 5.9
Government Consumption 5.9 8.9 8.2 7.5 6.5
Gross fixed Investment 6.2 7.9 9.8 7.2 7.2
Export of goods & Services 0.0 0.9 30.4 14.0 4.5
Import of goods & Services -2.6 0.7 32.6 13.8 5.2
Structure of Economy (% of GDP)
Agriculture 18.7 18.6 18.4 18.5 18.5
Industry 28.6 28.5 28.5 28.6 28.5
Services 52.6 53.0 53.0 52.9 53.1
Economy Policy
Budget Balance (% of GDP) -3.9 -3.7 -4.4 -5.1 -5.1
Public Debt( % of GDP) 35 32 35 32 31
Money Market interest rate(%) 5.0 5.0 5.0 5.0 5.0
M2 Growth (% change) 21 22 19 19 19
Exchange Rate LCU to USD 69.0 69.6 74.2 81.9 78.2
Balance of Payments (US$, million)
Current Account Balance 758 -3,099 -6,266 -5,230 -2,478
Trade balance -7,425 -11,077 -14,171 -14,358 -12,045
Exports(Goods) 14,378 14,194 19,807 22,675 27,469
Imports(Goods) 21,803 26,071 33,978 37,033 39,514
Service Balance -1,399 -1,944 -2,818 -2,694 -2,695
Income Balance -1,399 -1,457 -1,520 -1,778 -1,838
Transfer Balance 10,981 11,379 12,243 13,600 14,100
Net Direct Investment Flows 713 917 1,135 1,177 836
Net Portfolio Investment Flows 32 -659 121 -104 -19
Net Debt Flows (*negative is flight) -559 -2,738 -3,837 -199 -3,268
Change in International Reserves 4,555 834 -1,986 3,559 2,991
External Position (US$, million)
Total Foreign Debt 24,619 25,752 27,043 27,535 28,841
Short Term Debt 1,934 2,949 3,422 3,445 3,485
Total Debt Service Due(incl. Short-term Debt) 2,862 2,985 4,467 5,148 5,226
Total Foreign Exchange Reserves 10,219 10,564 8,510 12,031 15,050
International Investment Position -20,829 -20,223 -23,621 12,629 13,264
Total Assets 12,614 14,497 13,077 16,832 17,613
Total Liabilities 33,442 34,719 36,698 4,203 6,154
Population and Income
Population (million) 149.5 151.1 152.8 154.7 156.3
GDP per Capita at PPP (US $) 1,604.5 1,709.3 1,834.4 1,957.4 2,080
Unemployment Rate (% of total labor force) 5.0 4.5 4.5 4.5 4.5
Source: IMF, International Financial Statistics 2014
Bangladesh Trade with World
US$ Million 2009 2010 2011 2012 2013
Export (fob) 14,378 14,194 19,807 22,675 27,469
Import (cif) 21,803 26,071 33,978 37,033 39,514
Trade Volume 36,181 40,265 53,785 59,708 66,983
Trade Balance -7,425 -11,077 -14,171 -14,358 -12,045
World Trade (US$ Bn) 24,948 28,143 35,397 36,355 36,774
Share 0.14% 0.14% 0.15% 0.16% 0.18%
Source: IMF, International Financial Statistics 2014
Bangladesh Trade with D-8 Countries
US$ Mn. 2009 2010 2011 2012 2013
Export (fob) 506.79 802 907 744 1,138
Import (cif) 2,029.18 2,759 4,043 3,867 4,199
Trade Volume 2,535.97 3,561 4,950 4,620 5,337
Trade Balance -1,522.39 -1,957 -3,136 -3,132 -3,061
D-8 Intra Trade (US$ Mn) 66,947.63 101,139 129,493 148,191 133,064
Share 3.78% 3.52% 3.55% 3.12% 4.01%
Source: IMF, International Financial Statistics 2014
Bangladesh Trade By 10 Main Commodities
Export by 10 Principal Commodities, (million US$)
No. Commodity 2009 2010 2011 2012 2013
1. Articles of apparel, accessories, knit or crochet 7,829.6 9358.8 12,084.3 11,393.5 13,115
2. Articles of apparel, accessories, not knit or crochet 6,421.5 7,383.4 10,040.7 11,043.8 12,993
3. Other made textile articles, sets, worn clothing etc 697.5 796.8 1,094.1 945.9 1,032.6
4. Fish, crustaceans, molluscs, aquatic invertebrates nes 500 577.6 684.7 575.1 635.7
5. Vegetable textile fibres nes, paper yarn, woven fabric 417.3 707.7 795.2 640.6 585.4
6. Footwear, gaiters and the like, parts thereof 224.7 279.3 388.2 392.7 503.3
7. Raw hides and skins (other than furskins) and leather 170.9 250.3 318.2 314.2 279.5
8. Headgear and parts thereof 98.3 122.1 171.2 173.8 173.4
9. Mineral fuels, oils, distillation products, etc 152.6 136.1 93.5 139.8 105.4
10. Tobacco and manufactured tobacco substitutes 50.1 76.6 85.6 78.2 90.5
Import by 10 Principal commodities, (million US$)
No. Commodity 2009 2010 2011 2012 2013
1. Machinery, nuclear reactors, boilers, etc 1,834.3 2,809.2 3,310.7 3,107.3 3,364.7
2. Cotton 1,953.3 3,397.5 4,321.2 4,600.7 4,974.1
3. Electrical, electronic equipment 1,169 2,048.3 2,049 1,909.3 1,805.2
4. Mineral fuels, oils, distillation products, etc 1,469 1,856 2,515.4 2,044 2,270.5
5. Iron and Steel 957.3 1,212.4 1,503.5 1,666.6 1,618.1
6. Cereals 762.7 1,230.6 1,755.5 691.5 1,214.6
7. Animal, vegetable fats and oils, cleavage products, etc 931.6 1,090.4 1,691.8 1,450.8 1,335.8
8. Manmade staple fibers 632.5 881.5 1,142 1,087.2 1,204.5
9. Plastics and articles thereof 677.4 917.6 1,053.8 1,204 1,280.4
10. Vehicles other than railway, tramway 742.5 951.7 962 871.5 962.7
Source: WTO, International Trade Centre 2014.
Export and Import by Main Destination Country
Export by Main Destination Country (% of total)
2009 2010 2011 2012 2013
USA 25 25.4 22.1 19.1 18.7
Germany 15 15.2 15.3 15.5 15.8
UK 8.7 9.1 9.5 10.2 10.2
France 5.3 5.7 6.1 6.8 6.2
Italy 4 4.3 4 3.7 4
Other 42 40.3 43 44.5 45.1
Source: WTO, International Trade Centre 2014
Import by Main Origin Country (% of total)
2009 2010 2011 2012 2013
China 15.2 15.8 23 27 22
India 12.6 13.1 15.1 16.8 14.3
Singapore 7.4 7.7 7.5 7.1 5.8
Indonesia 5 5.6 4.8 3.8 2.8
Japan 4.5 5 4.5 3.4 2.7
Other 55.3 52.8 45.1 41.9 52.4
Source: WTO, International Trade Centre 2014
Foreign Direct Investment (Overview, selected years)
US$(Mn.) FDI Flows FDI Stocks
2009 2010 2011 2012 2013 2009 2010 2011 2012 2013
Inward 706.16 913.3 1,136.4 1,292.5 1599.1 5,279 6072.1 6,165.8 7,750.2 8,595.7
Outward 29.3 15.4 13.03 52.8 32.3 119 98.3 106.2 159 130
Source: UNCTAD, 2014
Agriculture: Food Commoditiess
US$ Mn 2009 2010 2011 2012 2013
Export 44.9 48.3  63.6 61.9 72.7
Import 2,486.9 3,940.9 4,840.9 3,602.6 3,929.1
Trade Volume 2,531.8 3,989.2 4,904.5 3,664.5 4,001.8
Trade Balance -2,442 -3,892.6 -4,777.3 -3,540.7 -3,856.4
Bangldesh's Total Trade 36,181 40,265 53,785 59,708 66,983
Share to Bangladesh's Total Trade 7.02% 6.6% 5.1% 4.7% 6%
Source: WTO,FAO 2014
Energy
Oil / Petroleum
Oil/Petroleum(Thousand Barrels per Day) 2009 2010 2011 2012 2013
Total Oil Production 5.7 5.8 5.8 5.5 4.8
Consumption 77 88 113 118 116
Refinery 33 33 33 33 33
Proved Reserved(Billion barrels) 0.028 0.028 0.028 0.028 0.028
Natural Gas
Natural Gas(Billion Cubic Feet/Day) 2009 2010 2011 2012 2013
Total Production 1.8 1.9 1.9 2.0 2.1
Consumption 1.8 1.9 1.9 2.0 2.1
Proved Reserved(Trillion cubic meters,TCM) 0.4 0.4 0.3 0.3 0.3
Others Energy Source
Energy Year
2009 2010 2011 2012 2013
Biofuels production (Thousand barrels daily) - - - - -
Electricity Generation (Terawatt-hours) 37.2 41.7 44.1 47.4 50.5
Renewable Energy (Installed Capacity) Geothermal (mega-watts) - - - - -
Solar (maga-watts) - - - - -
Wind (mega-watts) - - - - -
Source: BP statistics, 2014