Bangladesh: Economic Outline

Economic Indicators

The country's economic growth, which has been stable for several years, is driven by wire transfers from emigrant workers and by revenue obtained from the exports clothes. Even though the country was little affected by the crisis, the IMF and the World Bank's predictions on the economic growth for the coming five years (around 6%), indicate that this is insufficient performance to get the country out of extreme poverty.

In December 2010, the government has signed an accord with the IMF, which should lead to a three-year program under the IMF’s Extended Credit Facility. The general aim of the program is to accelerate growth in order to reduce poverty and attain the level of a medium-income country within the next decade. Fiscal reform, promotion of public-private partnerships and a reinforcement of the financial system are its main priorities.

Bangladesh's economy is based on its extensive human resources, its rich agricultural land, and its abundant water resources. The country has substantial reserves of natural gas, which constitute the bulk of the revenue. Factors that fuel domestic demand are agriculture and industrial investments in the private sector. Rapid population growth, general political strikes, poor infrastructures, weak financial system and inefficient public sector, as well as a resistance to exploiting the country's rich natural resources and a limited availability of capital, are all factors restricting economic growth.

Bangladesh remains a poor and overpopulated country, with 45% of its population living under the threshold of poverty.

Main Indicators	2009	2010	2011	2012 (e)	2013 (e)
GDP (billions USD)	94.87	105.56e	114.97	124.31	134.67
GDP (Constant Prices, Annual % Change)	5.9	6.4	6.3	6.1	6.4
GDP per Capita (USD)	585	642e	690e	735	786
Inflation Rate (%)	5.4	8.1	10.1	7.4	6.9
Current Account (billions USD)	3.14e	2.37	0.11	-0.94	-1.11
Current Account (in % of GDP)	3.3e	2.2	0.1	-0.8	-

Source: IMF - World Economic Outlook Database - Last Available Data.

Note: (e) Estimated Data

Monetary Indicators	2008	2009	2010
Foreign Debt (million USD)	22,886	23,820	-
Bangladesh Taka (BDT) - Average Annual Exchange Rate For 1 USD	68.60	69.04	69.65

Source: World Bank - Last Available Data.

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Main Sectors of Industry

Breakdown of Economic Activity By Sector	Agriculture	Industry	Services
Employment By Sector (in % of Total Employment)	48.1	14.5	37.4
Value Added (in % of GDP)	18.8	28.5	52.6
Value Added (Annual % Change)	4.7	6.0	6.4