Economic Profile of #Bangladesh

Growth in Bangladesh in Fiscal Year 2016 (ended 30 June 2016) exceeded expectations, aided by revived exports and sustained domestic consumption. Inflation was lower than projected, while larger exports and modest imports kept the current account in a larger surplus.

In recent years, the economy of Bangladesh has been taking a extensive turn . Bangladesh’s economy has grown at a consistent, blistering rate of more than 6 percent, making it one of the fastest growing economies in the world.

 

 

From 1990 to 2015, Bangladesh halved its incidence of poverty – meeting one of its core Millennium Development Goals – and gained lower-middle-income status in 2015. The country’s economic growth has been robust over the past decade, and was almost double the global average in the fiscal year that ended on 30 June 2015.

Bangladesh is a winning combination of competitive market, business-friendly environment and competitive cost structure.

Today, the Bangladeshi economy stands at about $180 billion. According to the World Bank, and IMF that will rise to $322 billion by 2021, creating many more scalable investment opportunities . Its economy remained strong and resilient despite external and internal challenges. Bangladesh is among the top 12 developing countries with a population of over 20 million, who achieved 6 plus percent growth in 2016 .

Japan recently gazumped China’s offer to build a new seaport, with a $6.7 billion project that includes a liquefied-natural-gas terminal and four coal-fired power plants. In July Russia promised $11.4 billion in loans towards a pair of nuclear reactors. Earlier this year India, which is already supplying Bangladesh with power from its grid, agreed to finance another big coal-fired power plant to the tune of $1.5 billion. Multilateral institutions such as the Asian Development Bank and World Bank have also upped their aid.

Currency: Taka (Tk.)
GDP at Current Price: Tk. 17295.67billion (US$ 220.61 billion)
Annual per capital GDP: US$ 1384

GDP growth rate at (2005/2006) constant price: 7.05 percent
Agricultural growth rate at constant price: 1.53 percent
Industrial/Mfg growth rate (% of GDP): 10.30percent

Large & Medium scale Industry: 11.01 percent
Small scale Industry: 7.02 percent

Service sector growthrate of GDP at current price: 53.39 percent
Inflation rate (12 month average): 5.90 percent (as on July 2016)
Domestic savings rate of GDP: 23.90 percent
National savings rate of GDP: 30.10 percent
Investment rate of GDP: 29.40 percent
Exports (2015-16): US$ 34,257.58 mn
Imports (2015-16): US$ 42,920.80 mn

Trade Deficit: US$ 8,663.62 mn
Foreign Exchange Reserve: US$ 30,039.29 mn (as on July 2016)
Remittances (2015-16) : US$ 14,929.39 mn

Foreign Investment (2015-16)

Direct: US$ 2001 mn
Portfolio: US$ 1241mn

Bank rate : 5.0 per cent
Broad Money (M2) : 917,024.30Tk.crores
Principle Industries :
Garments, Pharmaceuticals, Textiles, Paper, Manufacturing, Newsprint, Fertilizer, Leather and Leather goods, Sugar, Cement, Fish processing, Steel & Chemical industries etc.

Major export items:
Garments, Tea, Jute, Frozen shrimps, Leather products, Newsprint, paper, Naphtha, Urea, etc.

Principle imports:
Fuel, Rice, Wheat, Cotton & Textile, Petroleum products, Fertilizer, Staple fibers, yarn etc.

Economic forecasts for South Asian countries

Country 2016 2017
Afghanistan 2.0 3.0
Bangladesh 7.1 6.9
Bhutan 6.4 6.1
India 7.4 7.8
Maldives 3.5 3.9
Nepal 0.8 4.8
Pakistan 4.7 5.2
Sri Lanka 5.0 5.5
Average 6.9 7.3

Source: Asian Development Outlook 2016 Update

Real Sector
Data Categories and Components Unit Description Observations Additional Information
Period of Latest Data Latest data Data for previous period Percentage Change From Previous to Latest Period
National Accounts Indicators
Gross Domestic Product (GDP)
GDP at Current Market Prices Taka in million FY/16 17328637.00 15158022.00 14.32% View more..
GDP at Constant Market Prices (Base: 2005-06) Taka in million FY/16 8835389.00 8348624.00 5.83% View more..
GNI at Current Market Prices Taka in million FY/16 18326749.00 16142043.00 13.53%
GNI at Constant Market Prices (Base: 2005-06) Taka in million FY/16 9344299.00 8784104.00 6.38%
GVA at Current Basic Prices Taka in million FY/16 16473116.00 14449873.00 14%
   Agriculture Taka in million FY/16 2433902.00 2240810.00 8.62%
   Industries Taka in million FY/16 4738710.00 4067108.00 16.51%
   Services Taka in million FY/16 9300504.00 8141955.00 14.23%
GVA at Constant Basic Prices (Base: 2005-06) Taka in million FY/16 8482734.00 7915384.00 7.17%
   Agriculture Taka in million FY/16 1304786.00 1266498.00 3.02%
   Industries Taka in million FY/16 2675137.00 2407999.00 11.09%
   Services Taka in million FY/16 4505812.00 4240887.00 6.25%
Production Index
Quantum Index of Medium and Large Scale Industries Index (2005-06=100) Aug/16 306.54 258.35 18.65%
Quantum Index of Small Scale Industries Index (2005-06=100) Q2/16 477.04 431.21 10.63%
Quantum Index of Electricity Production Index (2005-06=100) Aug/16 274.22 240.03 14.24%
Quantum Index of Mining Production Index (2005-06=100) Aug/16 191.91 191.56 0.18%
Price Indices View more..
Consumer Price Index (CPI) Index (2005-06=100) Dec/16 231.53 220.45 5.03%
Producer Price Index (PPI) Index (2005-06=100) Jun/15 178.98 178.75 0.13%
Labour Market Indicators
Employment Million persons
Unemployment Million persons
Crude Activity Rate %
Refined Activity Rate %
Unemployment Rate %
Wage Rate Index Index (2010-11=100) Dec/16 141.28 128.22 10.19%

Note:1. “-” Not available
Growth rate refers to the corresponding period of the previous year

Fiscal Sector [Metadata]
Data Categories and Components Unit Description Observations Additional Information
Period of Latest Data Latest data Data for previous period Percentage Change From Previous to Latest Period
General Government Operations View more..
Total Revenue and Grants Taka in million FY/16 1824270.00 1891594.00 -3.56%
   Revenue Taka in million FY/16 1774000.00 1829531.00 -3.04%
      Tax Revenue Taka in million FY/16 1554000.00 1552915.00 0.07%
      Non Tax Revenue Taka in million FY/16 220000.00 276616.00 -20.47%
   Foreign Grants Taka in million FY/16 50270.00 21600.00 132.73%
Total Expenditure Taka in million FY/16 2645650.00 2504986.00 5.62%
Development Expenditure Taka in million FY/16 959080.00 863440.00 11.08%
Development Program financed from Revenue Budget Taka in million FY/16 5850.00 10681.00 -45.23%
Non ADP Project Taka in million FY/16 26870.00 34686.00 -22.53%
Annual Development Program Taka in million FY/16 910000.00 803145.00 13.3%
Non ADP FEW and Transfer Taka in million FY/16 16360.00 34686.00 -52.83%
Non-Development Expenditure Taka in million FY/16 1845521.00 1542348.00 19.66%
Net Outlay for Food Account Operation Taka in million FY/16 2010.00 3088.00 -34.91%
Loans & Advances (Net) Taka in million FY/16 47050.00 96110.00 -51.05%
Overall Balance (Incl. Foreign Grants) Taka in million FY/16 -821380.00 -613392.00 33.91%
Financing Taka in million FY/16 821380.00 613462.00 33.89%
   Foreign Financing Taka in million FY/16 199630.00 180690.00 10.48%
   Domestic Financing Taka in million FY/16 621750.00 432772.00 43.67%
      Bank Taka in million FY/16 316750.00 312212.00 1.45%
      Non Bank Taka in million FY/16 305000.00 120560.00 152.99%
Central Government Operations View more..
Total Revenue and Grants Taka in million June/16 245476.00 191554.00 28.15%
   Revenue Taka in million June/16 236712.00 185166.00 27.84%
      Tax Revenue Taka in million June/16 204658.00 161124.00 27.02%
      Non Tax Revenue Taka in million June/16 32054.00 24042.00 33.33%
   Foreign Grants Taka in million June/16 8764.00 6388.00 37.19%
Total Expenditure Taka in million June/16 625501.00 491573.00 27.24%
Development Expenditure Taka in million June/16 309336.00 217769.00 42.05%
Development Program financed from Revenue Budget Taka in million June/16 2463.00 2329.00 5.75%
Non ADP Project Taka in million June/16 1342.00 7671.00 -82.51%
Annual Development Program Taka in million June/16 301720.00 205731.00 46.66%
Non ADP FEW and Transfer Taka in million June/16 3811.00 7671.00 -50.32%
Non-Development Expenditure Taka in million June/16 299892.00 228775.00 31.09%
Net Outlay for Food Account Operation Taka in million June/16 2747.00 4614.00 -40.46%
Loans & Advances (Net) Taka in million June/16 13526.00 40414.00 -66.53%
Overall Balance (Incl. Foreign Grants) Taka in million June/16 -380025.00 -300019.00 26.67%
Financing Taka in million June/16 378780.00 299624.00 26.42%
   Foreign Financing Taka in million June/16 25102.00 13216.00 89.94%
   Domestic Financing Taka in million June/16 353678.00 286408.00 23.49%
      Bank Taka in million June/16 124640.00 13136.00 848.84%
      Non Bank Taka in million June/16 229038.00 273272.00 -16.19%
Central Government Debt View more..
Outstanding Debt Taka in million Q3/16 3205332.50 3204280.78 0.03%
   Domestic Debt Taka in million Q3/16 892041.00 991111.00 -10%
      Short Term Taka in million Q3/16 151357.00 190881.00 -20.71%
      Medium and Long Term Taka in million Q3/16 740684.00 800230.00 -7.44%
    Foreign Debt Taka in million Q3/16 2313291.50 2313291.50
      Short Term Taka in million Q3/16
      Medium and Long Term Taka in million Q3/16 2313291.50 2313291.50
Outstanding Government Guaranteed Debt Taka in million Q3/16 144247.35 144247.35

Note:1. “-” Not available
Growth rate refers to the corresponding period of the previous year

Monetary and Financial Sector
Data Categories and Components Unit Description Observations Additional Information
Period of Latest Data Latest data Data for previous period Percentage Change From Previous to Latest Period
Depository Corporations Survey View more..
Net Foreign Assets Taka in million Dec/16 2291791.00 1946631.00 17.73%
Domestic Claims Taka in million Dec/16 10564928.00 9115663.00 15.9%
   Net Claims on Central Government Taka in million Dec/16 2577438.00 2209727.00 16.64%
   Claims on Other Sector Taka in million Dec/16 7987490.00 6905936.00 15.66%
Broad Money Liabilities Taka in million Dec/16 11501931.00 9770311.00 17.72%
   Currency Outside Depository Corporations Taka in million Dec/16 1218194.00 917443.00 32.78%
   Transferable Deposits Taka in million Dec/16 917993.00 763476.00 20.24%
   Other Deposits Taka in million Dec/16 7833652.00 6984291.00 12.16%
   Securities Other than Shares, included in broad money Taka in million Dec/16 1532092.00 1105101.00 38.64%
   Deposits excluded from broad money Taka in million Dec/16 681661.00 566869.00 20.25%
   Securities Other than Shares, excluded from broad money Taka in million Dec/16 429937.00 283332.00 51.74%
   Loans Taka in million Dec/16 400181.00 229424.00 74.43%
   Financial Derivatives Taka in million Dec/16
   Trade Credit and advances Taka in million Dec/16
   Shares and Other Equity Taka in million Dec/16 1250290.00 1235786.00 1.17%
   Other Items (net) Taka in million Dec/16 -1407281.00 -1023428.00 37.51%
Central Bank Survey View more..
Net Foreign Assets Taka in million Dec/16 2355388.00 1965080.00 19.86%
Claims on other depository corporations Taka in million Dec/16 63371.00 74317.00 -14.73%
Net claims on central government Taka in million Dec/16 18808.00 -41171.00 -145.68%
   Claims on central government Taka in million Dec/16 127344.00 96512.00 31.95%
   Less: Liabilities to Central Government Taka in million Dec/16 108536.00 137683.00 -21.17%
Claims on Other Sectors Taka in million Dec/16 54015.00 55148.00 -2.05%
Monetary base Taka in million Dec/16 1899611.00 1594172.00 19.16%
   Currency in circulation Taka in million Dec/16 1218194.00 1005131.00 21.2%
   Liabilities to other depository corporations Taka in million Dec/16 681358.00 588901.00 15.7%
   Deposits included in broad money Taka in million Dec/16 59.00 140.00 -57.86%
   Securities Other than Shares, included in broad money Taka in million Dec/16
Deposits excluded from broad money Taka in million Dec/16 87634.00 74537.00 17.57%
Securities Other than Shares, excluded from broad money Taka in million Dec/16 358251.00 230620.00 55.34%
Loans Taka in million Dec/16
Financial Derivatives Taka in million Dec/16
Trade Credit and advances Taka in million Dec/16
Shares and Other Equity Taka in million Dec/16 143963.00 152728.00 -5.74%
Other items (net) Taka in million Dec/16 2123.00 1317.00 61.2%
Interest Rates
Policy Rates view more..
   Repo rate % 12-Feb-2017 6.75 6.75
   Special Repo Rate % 12-Feb-2017 9.75 9.75
   Reverse repo rate % 12-Feb-2017 4.75 4.75
   Bank Rate % 12-Feb-2017 5.00 5.00
Treasury Bills and Bonds Rates 12-Feb-2017
   91 days Treasury Bills % 12-Feb-2017 2.95 2.97 -0.67%
   182 days Treasury Bills % 12-Feb-2017 3.14 3.18 -1.26%
   364 days Treasury Bills % 12-Feb-2017 3.55 3.74 -5.08%
   2 years Treasury Bonds % 12-Feb-2017 4.44 4.44
   5 years Treasury Bonds % 12-Feb-2017 5.84 5.84
   10 years Treasury Bonds % 12-Feb-2017 6.77 6.77
   15 years Treasury Bonds % 12-Feb-2017 7.48 7.64 -2.09%
   20 years Treasury Bonds % 12-Feb-2017 7.78 7.89 -1.39%
Deposit and Lending Rates view more..
   Average Weighted Deposit Rate % Nov/16 5.29 6.46 -18.11%
   Average Weighted Lending Rate % Nov/16 9.94 11.27 -11.8%
   Spread % Nov/16 4.80 4.81 -0.21%
Stock Market
   Share price indices Index 22-Jan-2017 5571.94 4826.26 15.45% view more..

Note:1. “-” Not available
Growth rate refers to the corresponding period of the previous year

External Sector [Metadata]
Data Categories and Components Unit Description Observations Additional Information
Period of Latest Data Latest data Data for previous period Percentage Change From Previous to Latest Period
Balance of Payments View more..
Current account (balance) Taka in million Q3/16 21849.00 60906.00 -64.13%
  Goods and services Taka in million Q3/16 -187062.00 -202888.00 -7.8%
   Goods Taka in million Q3/16 -104847.00 -126318.00 -17%
   Services Taka in million Q3/16 -82215.00 -76570.00 7.37%
  Primary income Taka in million Q3/16 -57493.00 -56543.00 1.68%
  Secondary income Taka in million Q3/16 266404.00 320337.00 -16.84%
Capital account (balance) Taka in million Q3/16 5040.00 6823.00 -26.13%
Financial account (balance) Taka in million Q3/16 45386.00 108140.00 -58.03%
  Direct investment Taka in million Q3/16 -41413.00 -46517.00 -10.97%
  Portfolio investment Taka in million Q3/16 -4431.00 -9412.00 -52.92%
  Other investment Taka in million Q3/16 13778.00 48598.00 -71.65%
  Reserve assets Taka in million Q3/16 77452.00 115471.00 -32.93%
Net errors and omissions Taka in million Q3/16 18497.00 40411.00 -54.23%
Official Reserve Assets View more..
Gross Reserve Assets (total) US$ in million Jan/17 31724.18 27139.15 16.89%
  Monetary gold US$ in million Jan/17 535.72 492.65 8.74%
  Special Drawing Rights US$ in million Jan/17 1311.18 1216.63 7.77%
  Reserve position in IMF US$ in million Jan/17
  Other reserve assets US$ in million Jan/17 2488.63 1749.15 42.28%
Reserve Data Template
Reserve Data Template Dec/16 View more..
Merchandise Trade View more..
Trade balance US $ million Dec/16 -630.00 -231.00 172.73%
  Exports (f.o.b.) US $ million Dec/16 3066.00 3156.00 -2.85%
  Imports (f.o.b.) US $ million Dec/16 3696.00 3387.00 9.12%
International Investment Position View more..
Net International Investment Position Taka in million Q3/16 -1323519.93 -1336815.61 -0.99%
Assets Taka in million Q3/16 3111805.69 2513128.94 23.82%
   Direct investment Taka in million Q3/16 63076.28 57493.89 9.71%
     Equity and investment fund shares Taka in million Q3/16 12289.98 11367.22 8.12%
     Debt instruments Taka in million Q3/16 50786.30 46126.67 10.1%
   Portfolio investment Taka in million Q3/16 331477.13 186005.96 78.21%
     Equity and investment fund shares Taka in million Q3/16 978.00 980.00 -0.2%
     Debt securities Taka in million Q3/16 330499.13 185025.96 78.62%
   Other investment Taka in million Q3/16 241936.64 217280.62 11.35%
   Reserve assets Taka in million Q3/16 2475315.63 2052348.47 20.61%
Liabilities Taka in million Q3/16 4294309.31 3849944.55 11.54%
   Direct investment Taka in million Q3/16 1081649.68 981145.66 10.24%
     Equity and investment fund shares Taka in million Q3/16 890909.40 814474.97 9.38%
     Debt instruments Taka in million Q3/16 181387.98 166670.69 8.83%
   Portfolio investment Taka in million Q3/16 322683.00 288196.63 11.97%
     Equity and investment fund shares Taka in million Q3/16 209484.80 175244.50 19.54%
     Debt securities Taka in million Q3/16 114484.25 112952.13 1.36%
   Other investment Taka in million Q3/16 3029706.89 2580602.26 17.4%
External Debt View more..
Total Gross External Debt US$ in million Q3/16 3205332.50 3204280.78 0.03%
Exchange Rates
Taka/US$ 12-Feb-2017 79.20 78.93 0.34% View more..

Note:1. “-” Not available
Growth rate refers to the corresponding period of the previous year

Population
Data Categories and Components Unit Description Observations Additional Information
Period of Latest Data Latest data Data for previous period Percentage Change From Previous to Latest Period
Population
Population clock view more..
Sample vital registration system Million persons 2016 159.90 157.90 1.27% view more..

Note:1. “-” Not available