Bangladesh

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Introduction - Bangladesh:
Location - Bangladesh:
People - Bangladesh:
Government - Bangladesh:
Economy - Bangladesh:

Economy overview

Despite sustained domestic and international efforts to improve economic and demographic prospects, Bangladesh remains a poor, overpopulated, and inefficiently-governed nation. Although more than half of GDP is generated through the service sector, nearly two-thirds of Bangladeshis are employed in the agriculture sector, with rice as the single-most-important product. Major impediments to growth include frequent cyclones and floods, inefficient state-owned enterprises, inadequate port facilities, a rapidly growing labor force that cannot be absorbed by agriculture, delays in exploiting energy resources (natural gas), insufficient power supplies, and slow implementation of economic reforms. Reform is stalled in many instances by political infighting and corruption at all levels of government. Opposition from the bureaucracy, public sector unions, and other vested interest groups also have blocked progress. The BNP government, led by Prime Minister Khaleda ZIA, has the parliamentary strength to push through needed reforms, but the partys political will to do so has been lacking in key areas. On an encouraging note, growth has been a steady 5-6% for the past several years.

Gdp purchasing power parity

$336.7 billion (2006 est.)

Gdp official exchange rate

$69.34 billion (2006 est.)

Gdp real growth rate

6.6% (2006 est.)

Gdp per capita ppp

$2,300 (2006 est.)

Gdp composition by sector

agriculture: 19.9%
industry: 20.6%
services: 59.5% (2006 est.)

Labor force

68 million
note: extensive export of labor to Saudi Arabia, Kuwait, UAE, Oman, Qatar, and Malaysia; workers remittances estimated at $4.8 billion in 2005-06. (2006 est.)

Labor force by occupation

agriculture: 63%
industry: 11%
services: 26% (FY95/96)

Unemployment rate

2.5% (includes underemployment) (2006 est.)

Population below poverty line

45% (2004 est.)

Household income or consumption by percentage share

lowest 10%: 3.9%
highest 10%: 28.6% (1995-96 est.)

Distribution of family income gini index

31.8 (2000)

Inflation rate consumer prices

7.2% (2006 est.)

Investment gross fixed

24.9% of GDP (2006 est.)

Budget

revenues: $6.389 billion
expenditures: $8.694 billion; including capital expenditures of $NA (2006 est.)

Public debt

46.7% of GDP (2006 est.)

Agriculture products

rice, jute, tea, wheat, sugarcane, potatoes, tobacco, pulses, oilseeds, spices, fruit; beef, milk, poultry

Industries

cotton textiles, jute, garments, tea processing, paper newsprint, cement, chemical fertilizer, light engineering, sugar

Industrial production growth rate

7.2% (2006 est.)

Electricity production

18.09 billion kWh (2004)

Electricity consumption

16.82 billion kWh (2004)

Electricity exports

0 kWh (2004)

Electricity imports

0 kWh (2004)

Oil production

6,813 bbl/day (2004)

Oil consumption

85,000 bbl/day (2004 est.)

Oil exports

NA bbl/day

Oil imports

NA bbl/day

Oil proved reserves

56 million bbl (1 January 2005)

Natural gas production

13.1 billion cu m (2004 est.)

Natural gas consumption

13.1 billion cu m (2004 est.)

Natural gas exports

0 cu m (2004 est.)

Natural gas imports

0 cu m (2004 est.)

Natural gas proved reserves

300.2 billion cu m (1 January 2005 est.)

Current account balance

$339 million (2006 est.)

Exports

$11.17 billion (2006 est.)

Exports commodities

garments, jute and jute goods, leather, frozen fish and seafood (2001)

Exports partners

US 25.2%, Germany 12.7%, UK 9.9%, France 5% (2006)

Imports

$13.77 billion (2006 est.)

Imports commodities

machinery and equipment, chemicals, iron and steel, textiles, foodstuffs, petroleum products, cement

Imports partners

China 18%, India 12.7%, Kuwait 8%, Singapore 5.6%, Hong Kong 4.2% (2006)

Reserves of foreign exchange and gold

$3.278 billion (2006 est.)

Debt external

$22.55 billion (2006 est.)

Economic aid recipient

$1.575 billion (2000 est.)

Currency code

taka (BDT)

Exchange rates

taka per US dollar - 69.031 (2006), 64.328 (2005), 59.513 (2004), 58.15 (2003), 57.888 (2002)

Communications - Bangladesh:
Transportation - Bangladesh:
Military - Bangladesh:
This page was last updated on 16 September, 2007
Source: CIA >>>


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