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 165 million (July 2013 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,2013
Economic Information
  2005 2006 2007 2008 2009 2010 2011 2012
GDP  
Nominal GDP (US$bn) 60.3 61.9 68.5 79.6 89.5 99.7 105 122
Real GDP Growth (%) 6.0 6.6 6.4 6.2 5.9 5.7 6.7 6.3
Expenditure on GDP (% real change)
Private Consumption 3.9 4.3 5.9 5.5 6.0 5.7 6.1 6.0
Government Consumption 7.8 6.0 6.4 3.6 4.0 8.0 7.0 7.5
Gross fixed Investment 10.7 8.3 8.5 1.8 5.7 6.0 6.5 7.0
Export of goods & Services 15.6 25.8 13.0 7.0 12.2 5.6 8 7.5
Import of goods & Services 19.1 18.2 16.0 -2.1 15.2 5.4 8.0 8.1
Origin of GDP (%real change)
Agriculture 2.2 4.9 4.6 3.2 4.6 4.4 5.1 2.5
Industry 8.3 9.7 8.4 6.8 5.9 5.7 9.4 9.8
Services 6.4 5.7 6.1 7.1 6.3 6.2 6.2 6.1
GDP per capita(US$ at PPP) 1,069 1,154 1,251 1,338 1,410 1,487 1,501 1,622
Recorded Unemployment(av,%) 2.5 2.5 2.5 2.5 2.5 2.5 2.6 2.6
Fiscal Indicator (% of GDP)
Public-sector expenditure 14.5 14.7 13.6 17.1 15.3 16.0 19.5 18.0
Public-sector balance -4.0 -3.9 -3.1 -6.1 -4.0 -5.5 -5.0 -5.5
Net public debt 41.9 42.5 40.6 39.4 38.8 38.3 38.1 38.5
Prices and financial indicators
Exchange Rates Tk:US$ (end-period) 66.21 69.07 68.58 68.92 69.27 69.4 69.3 69.5
Consumer Prices (av.; % change) 7.0 6.8 9.1 8.9 5.4 7.8 8.0 10.0
Consumer Prices (end-period; % change) 7.1 6.1 11.6 6.0 8.5 6.5 8.8 11.0
Stock of money M1(%change) 18.3 32.5 15.7 10.5 16.5 15.1 14.3 15.2
Stock of money M2(%change) 17.2 22.3 14.5 17.9 20.7 18.1 17.0 19.0
Lending interest rate(av.;%) 14.0 15.3 16.0 16.4 14.6 15.0 14.8 15.0
Current Account(US$m)
Trade Balance -3,199 -2,890 -4195 -6,065 -4,312 -11,077 -14,171 -14,358
Goods: exports fob 9,303 11,554 12,474 15,442 15,905 14,194 19,807 22,675
Goods: imports cif -12,502 -14,443 -16,669 -21,507 -20,217 -26,071 -33,978 -37,033
Services Balance -958 -1,007 -1,268 -1,906 -2,156 -2,371 -2,171 -2,208
Income Balance -794 -841 -968 -771 -1,077 -1,255 -1,131 -1,281
Current-transfer Balance 4,774 5,933 7,288 9,775 10,352 10,600 10,821 11,035
Current-account Balance -176 1,196 857 1,032 2,808 1,852 2,511 3,260
External Debt (US$m)
Debt Stock 18,919 20,419 22,033 22,825 22,954 23,049 23,417 23,810
Debt service paid 805 707 814 1,119 1,105 1,262 1,250 1,271
Principal repayments 569 474 570 843 857 980 975 998
Interest 235 232 244 284 272 282 291 297
International reserves(US$m)
Total international reserves 2,825 3,877 5,278 5,789 10,319 11,753 10,911 11,364
Source: IMF, International Financial Statistics 2013
Bangladesh Trade with World
US$ Mn. 2005 2006 2007 2008 2009 2010 2011 2012
Export (fob) 8,494.4 11,657 12,732 13,628 14,378 14,194 19,807 22,675
Import (cif) 13,851 16,096 18,476 23,821 21,803 26,071 33,978 37,033
Trade Volume 22,345.4 27,753 31,208 37,449 36,181 40,265 53,785 59,708
Trade Balance -4,851 -4,439 -5,744 -10,193 -7,425 -11,077 -14,171 -14,358
World Trade (US$ Bn) 21,058 24,294 27,845 32,215 24,948 28,143 35,397 36,355
Share 0.10% 0.11% 0.11% 0.11% 0.14% 0.14% 0.15% 0.16%
Source: IMF, International Financial Statistics 2013
Bangladesh Trade with D-8 Countries
US$ Mn. 2005 2006 2007 2008 2009 2010 2011 2012
Export (fob) 223.45 305.59 358.75 457.13 506.79 802 907 744
Import (cif) 832.23 995.84 1,035.68 1,543.19 2,029.18 2,759 4,043 3,867
Trade Volume 1,055.68 1,301.43 1,394.43 2,000.32 2,535.97 3,561 4,950 4,620
Trade Balance -608.78 -690.25 -676.93 -1,085.06 -1,522.39 -1,957 -3,136 -3,132
D-8 Intra Trade (US$ Mn) 41,537.19 49,806.52 66,828.03 78,382.2 66,947.63 101,139 129,493 148,191
Share 2.54% 2.61% 2.08% 2.55% 3.78% 3.52% 3.55% 3.12%
Source: IMF, International Financial Statistics 2013
Bangladesh Trade By 10 Main Commodities
Export by 10 Principal Commodities, (million US$)
No. Commodity 2006 2007 2008 2009 2010 2011 2012
1. Articles of apparel, accessories, knit or crochet 4,072.1 4,734.7 7,476.9 7,789.7 8897.8 11,766 11,282
2. Articles of apparel, accessories, not knit or crochet 4,179.9 4,588.5 6,032.7 6,397.8 7038.1 9,832 10,910
3. Other made textile articles, sets, worn clothing etc 330.5 402.2 647.4 690.9 690.2 1,031 931
4. Fish, crustaceans, molluscs, aquatic invertebrates nes 538.1 694.6 567.2 483.1 517.1 666 545
5. Vegetable textile fibres nes, paper yarn, woven fabric 379.1 475.1 434.5 396.5 507.4 790 605
6. Footwear, gaiters and the like, parts thereof 104.7 137.5 194.5 227.2 265.7 384 390
7. Raw hides and skins (other than furskins) and leather 248.2 290.9 253.1 171.3 149.7 318 305
8. Headgear and parts thereof 62.3 67.4 121.7 98.4 118.1 170 173
9. Mineral fuels, oils, distillation products, etc 89.1 213.3 160.5 152.6 110.9 93 133
10. Tobacco and manufactured tobacco substitutes 18 24 31 49 72 86 73
Import by 10 Principal commodities, (million US$)
No. Commodity 2006 2007 2008 2009 2010 2011 2012
1. Machinery, nuclear reactors, boilers, etc 1,966.1 1886 2,094.4 1,833.6 2,694.7 3,313 3,102
2. Cotton 1,218 1,595.9 2,428.3 1,940.8 2,234.1 4,310 4,565
3. Electrical, electronic equipment 1,400 1,618.4 1,535.5 1169.8 1799.1 2,053 1,895
4. Mineral fuels, oils, distillation products, etc 2,000.4 1,842.3 975.3 1467.5 1681.2 2,515 2,045
5. Iron and Steel 647.4 771.2 814.8 954.1 1,099.1 1,504 1,651
6. Cereals 647.3 1,015.8 870.2 762.8 896.2 1,7555 691
7. Animal, vegetable fats and oils, cleavage products, etc 956.5 1,553.9 1,020.1 931.6 881.2 1,691 1,451
8. Manmade staple fibers 947.4 417.6 650.5 632.4 810.4 1,142 1,077
9. Plastics and articles thereof 541.4 686.1 696.2 659.7 747.7 1,017 1,052
10. Fertilizers 275.01 363.5 705.8 503.9 724.4 933 608
Source: WTO, International Trade Centre.
Export and Import by Main Destination Country
Export by Main Destination Country (% of total)
2005 2006 2007 2008 2009 2010 2011 2012
USA 28.5 26.7 25.7 25.3 25 25.4 22.1 19.1
Germany 15.7 15 15.2 15.4 15 15.2 15.3 15.5
UK 10.1 9 9.5 10 8.7 9.1 9.5 10.2
France 6.6 6.1 6.5 6.3 5.3 5.7 6.1 6.8
Italy 4 4.1 4 4.2 4 4.3 4 3.7
Other 35.1 39.1 39.1 38.8 42 40.3 43 44.5
Source: WTO, International Trade Centre 2013
Import by Main Destination Country (% of total)
2005 2006 2007 2008 2009 2010 2011 2012
China 15.9 16.4 15.6 16 15.2 15.8 23 27
India 10.9 12 13.2 13.5 12.6 13.1 15.1 16.8
Singapore 7.2 7.2 7.2 8 7.4 7.7 7.5 7.1
Indonesia 3.5 4 5.1 5.2 5 5.6 4.8 3.8
Japan 5.9 5.7 5.1 4.8 4.5 5 4.5 3.4
Other 57 52.6 53.8 52.5 55.3 52.8 45.1 41.9
Source: WTO, International Trade Centre 2013
Foreign Direct Investment (Overview, selected years)
US$(Mn.) FDI Flows FDI Stocks
2005 2006 2007 2008 2009 2010 2011 2012 2005 2006 2007 2008 2009 2010 2011 2012
Inward 845 793 666 1,086 716 913 1,136 990 3,537 4,187 4,399 4,817 5,139 6,342 6,166 7,156
Outward 3.3 3.6 21 9.3 29.3 15.4 13.04 52.78 94 105 112 81 91 98.3 106.2 159
Source: UNCTAD, 2013
Agriculture: Food Commodities
US$ Mn 2008 2009 2010 2011 2012
Export 63.46 52.4 52.6 55.1 57.2
Import 2617.6 2,488 2,605.4 2,701 2,748
Trade Volume 2681.06 2540.4 2,658 2,756.1 2,805.2
Trade Balance -2,554.14 -2435.6 -2,552.8 -2,645.9 -2,690.8
Bangldesh's Total Trade 28,418 36,181 40,265 53,785 59,708
Share to Bangladesh's Total Trade 9.43% 7.02% 6.6% 5.1% 4.7%
Source: WTO,FAO 2013
Energy
Oil
Petroleum(Thousand Barrels per Day) 2006 2007 2008 2009 2010 2011 2012
Total Oil Production 6.76 6.76 6.43 6.43 6.3 6.4 6.4
Consumption 88 91 95 98 102 105 105
Refinery 33 33 33 33 33 33 33
Proved Reserved(Billion barrels) 0.028 0.028 0.028 0.028 0.028 0.028 0.028
Natural Gas
Natural Gas(Billion Cubic Feet/Day) 2006 2007 2008 2009 2010 2011 2012
Total Production 1.5 1.6 1.7 1.8 1.9 1.9 1.9
Consumption 1.5 1.6 1.7 1.8 1.9 2 2.1
Proved Reserved(Trillion cubic meters,TCM) 0.38 0.37 0.37 0.37 0.37 0.37 0.37
Others Energy
Energy Year
2008 2009 2010 2011 2012
Biofuels production (Thousand barrels daily) - - - - -
Electricity Generation (Terawatt-hours) 35 36.9 39.1 39.8 41.1
Renewable Energy (Installed Capacity) Geothermal (mega-watts) - - - - -
Solar (maga-watts) - - - - -
Wind (mega-watts) - - - - -
Source: BP statistics, 2013