Economy of Bangladesh
Skyscrapers in Dhaka
|
|
| Currency | Taka৳ (BDT) |
|---|---|
| 1 July - 30 June | |
|
Trade organizations
|
SAFTA, BIMSTEC, WTO |
| Statistics | |
| GDP | $246.166 billion (nominal; 2017) $686.162 billion (PPP; 2017) |
| GDP rank | 46th (nominal) / 34th (PPP) |
|
GDP growth
|
6.1% (2014), 6.6% (2015), 7.1% (2016e), 6.8% (2017f) |
|
GDP per capita
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$1,508.493 (nominal; 2017) $4,204.774 (PPP; 2017) |
|
GDP per capita rank
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150th (nominal) / 139th (PPP) |
|
GDP by sector
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agriculture: 15.5% industry: 28.1% services: 56.3% (2015 est.) |
| 6.7% (2016) | |
|
Population below poverty line
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12.9% living below $3/day (2016) |
| .320 (2010) | |
|
Labour force
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81.95 million (2015) |
|
Labour force by occupation
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agriculture: 40%, industry: 30%, services: 30% (2013) |
| Unemployment | 4.5% (2013 est.) |
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Main industries
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jute, cotton, garments, paper, leather, fertilizer, iron and steel, cement, petroleum products, tobacco, pharmaceuticals, ceramics, tea, salt, sugar, edible oils, soap and detergent, fabricated metal products, electricity, natural gas |
| 176th (2017) | |
| External | |
| Exports | $37.61 billion (FY2015-16) |
|
Export goods
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garments, knitwear, agricultural products, frozen food (fish and seafood), jute and jute goods, leather |
|
Main export partners
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US 13.9%, Germany 12.9%, UK 8.9%, France 5%, Spain 4.7% (2015) |
| Imports | $40.69 billion (FY 2014-15) |
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Import goods
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cotton, machinery and equipment, chemicals, iron and steel, foodstuffs |
|
Main import partners
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China 22.4%, India 14.1%, Singapore 5.2% (2015) |
|
Gross external debt
|
$35.49 billion (31 December 2015 est.) |
| Public finances | |
| 31.9% of GDP (2015 est.) | |
| Revenues | $20.96 billion (2015 est.) |
| Expenses | $30.75 billion (2015 est.) |
| BB- (domestic) BB- (foreign) BB- (T&C assessment) Outlook: Stable (Standard & Poor's) |
|
|
Foreign reserves
|
$32.19 billion (January 2017) |
The market-based economy of Bangladesh is the 44th largest in the world in nominal terms, and 32nd largest by purchasing power parity; it is classified among the Next Eleven emerging market economies and a Frontier market. According to the IMF, Bangladesh's economy is the second fastest growing major economy of 2016, with a rate of 7.1%.Dhaka and Chittagong are the principal financial centers of the country, being home to the and the .The financial sector of Bangladesh is the second largest in the subcontinent.
In the decade since 2004, Bangladesh averaged a GDP growth of 6.5%, that has been largely driven by its exports of ready made garments, remittances and the domestic agricultural sector. The country has pursued export-oriented industrialisation, with its key export sectors include textiles, shipbuilding, fish and seafood, jute and leather goods. It has also developed self-sufficient industries in pharmaceuticals, steel and food processing. Bangladesh's telecommunication industry has witnessed rapid growth over the years, receiving high investment from foreign companies. Bangladesh also has substantial reserves of natural gas and is Asia's seventh largest gas producer. Offshore exploration activities are increasing in its maritime territory in the Bay of Bengal. It also has large deposits of limestone. The government promotes the Digital Bangladesh scheme as part of its efforts to develop the country's growing information technology sector.
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Wikipedia