Statistics

GDP growth

6% (2010 est.)

GDP per capita

$1,700 (2010 est. PPP)

GDP by sector

agriculture: (18.6%), industry: (28.6%), services: (52.8%) (2009 est.)

Inflation (CPI)

8.80% (2010-11)

Population below poverty line

30% (2011 est.)

Gini index

33.2 (2005)

Labour force

73.87 million country comparison to the world: 8 remittances estimated at $10.9 billion in 2009-10 (2009 est.)

Labour force by occupation Unemployment Main industries

Agriculture (45%), industry (30%), services (25%) (2008 est.)

5.1% (2010 est.) cotton textiles, jute, garments, tea processing, leather, fish, ocean going ship building, paper and newsprint, cement, chemical fertilizer, light engineering, sugar, cane

Ease of Doing Business Rank

107th[1]

External Exports Export goods $22.93 billion (2010-2011) garments, textiles, jute and jute goods, ships, leather, produce, frozen fish and seafood, pharmaceuticals, ceramics, cement Main export partners US 31.8%, EU 12.9%, Germany 10.9%, UK 7.9%, France 5.2%, Netherlands 5.2%, Kuwait 4.9%, Japan 4.5% Italy 4.42% (2010) Imports Import goods $32 billion (2010-2011) machinery and equipment, chemicals, iron and steel, raw cotton, food, crude oil and petroleum products, Main import partners Gross external debt China 11.4%, Singapore 9.1%, India 8.5%, Hong Kong 7.1%, Japan 6.5%, U.S 5.1% (2008 est.) $15.23 billion (31 December 2008 est.)

Public finances Public debt Revenues Expenses Economic aid Credit rating $1.2 billion (June 2008 est.) $19.1 billion (2008-2009 est.) $25.8 billion (2008-2009 est.) $.957 billion (2010 est.) BB- (Domestic) BB- (Foreign) BB- (T&C Assessment) (Standard & Poor's)[2] Main data source: CIA World Fact Book

Fiscal Year

Total Export

Total Import

Foreign Remittance Earnings

2007 2008

$14.11b

$25.205b

$8.9b

2008 2009

$15.56b

$22.00b+

$9.68b

2009-2010 $16.7b

~$24b

$10.87b

2010-2011 $22.93b

$32b

$11.65b

BANGLADESH GDP GROWTH RATE AT 5.83%

The Gross Domestic Product (GDP) in Bangladesh expanded 5.83 percent in the second quarter of 2010 over the previous quarter. Historically, from 1994 until 2010, Bangladesh's average quarterly GDP Growth was 5.47 percent reaching an historical high of 6.63 percent in June of 2006 and a record low of 4.08 percent in June of 1994. Bangladesh is considered as a developing economy which has recorded GDP growth above 5% during the last few years. Microcredit has been a major driver of economic development in Bangladesh and although three fifths of Bangladeshis are employed in the agriculture sector, three quarters of exports revenues come from garment industry. The biggest obstacles to sustainable development in Bangladesh are overpopulation, poor infrastructure, corruption, political instability and a slow implementation of economic reforms. This page includes: Bangladesh GDP Growth Rate chart, historical data, forecasts and news. Data is also available forBangladesh GDP Annual Growth Rate, which measures growth over a full economic year.

Country

Indicator

Reference

Actual

Previous

Next Release

Impact

Bangladesh

GDP Growth Rate

Jun/2010

5.83

5.74

BANGLADESH GDP AT 100.08 BILLION

Bangladesh Gross Domestic Product is worth 100 billion dollars or 0.16% of the world economy, according to the World Bank. Historically, from 1960 until 2010, Bangladesh's average Gross Domestic Product was 28.73 billion dollars reaching an historical high of 100.08 billion dollars in December of 2010 and a record low of 4.30 billion dollars in December of 1960. Bangladesh is considered as a developing economy which has recorded GDP growth above 5% during the last few years. Microcredit has been a major driver of economic development in Bangladesh and although three fifths of Bangladeshis are employed in the agriculture sector, three quarters of exports revenues come from garment industry. The biggest obstacles to sustainable development in Bangladesh are overpopulation, poor infrastructure, corruption, political instability and a slow implementation of economic reforms. This page includes: Bangladesh GDP chart, historical data, forecasts and news.

Country Bangladesh

Indicator GDP

Reference Dec/2010

Actual 100.08

Previous 89.40

Next Release

Impact

ECONOMY
Bangladesh has made significant strides in its economic sectors since independence in 1971. The country is in 46th position among 193 countries with a gross domestic product of US$ 242,200 million. The economy has grown at the rate of 6-7% annually over the past few years. More than half of the GDP belongs to the service sector that employs 25% of the work force, while half of the work force is employed in the agricultural sector that counts for 18% of our GDP.

With sound planning and forward vision of the regulatory body as well as the Government, Bangladesh proved to be resilient to the latest global meltdown. Rather it showed a very healthy and steady growth of its GDP during last few years and is predicted to have similar trend in the coming years, while most of the developed and developing countries of the world are experiencing either gridlock or backward move of their GDP.

Remittances from Bangladeshis working overseas, mainly in the Middle East and East Asia, as well as exports of garments and textiles are the main sources of foreign exchange earning. Bangladeshi entrepreneurs have shown themselves adept at competing in the global garments marketplace. This industry is now worth more than $11 billion. Among other export items Tea, Shrimp & Sea fishes, Cement, Ceramics wear, Medicine, leather & leather goods, jute, and Ships are notable ones.

Bangladesh has significant reserve of natural gas and coal alongside a little reserve of hard rock and oil. However, the best natural resource of Bangladesh is the soil itself. Land is so fertile that it produces nearly everything that could be grown on earth. The land is mainly devoted to produce rice. Because of the fertile soil and normally ample water supply, rice can be grown and harvested three times a year in many areas that made Bangladesh the third largest producer of rice on earth. We also produce Jute, sugar cane, Banana, oil seeds, several fruits and vegetables.

Micro Credit, initiated by Nobel Laureate Dr. Md. Yunus, is being implemented by NGOs and local banks. This was a leap forward for the country in terms of rural development as well as women empowerment. This also helped Bangladesh achieve very low rate of unemployment, which is only 2.50%.

Background
February 2011: Citigroup analysts Willem Buiter and Ebrahim Rahbari said that BRICS (BRIC plus South Africa) countries have "outlived their usefulness". So, long run continues growths are important, although the eleven countries identified are poor today and have decades of catch-up growth to look forward to.[1] The grouping based on a weighted average of 6 growth drivers:

[edit]3G

Domestic saving/investment Demographic prospects Health Education Quality of institutions and policies Trade openness

Index Score
Global Growth Generators (3G) countries 2010-2050

Country

2010 GDP/Capita[2]

% of US GDP/Capita[3]

% Av. Growth

3G Index

Bangladesh $1,735

6.3

0.39

China

$7,430

16

5.0

0.81

Egypt

$5,878

13

5.0

0.37

India

$3,298

6.4

0.71

Indonesia

$4,363

10

5.6

0.70

Iraq

$3,538

6.1

0.58

Global Growth Generators (3G) countries 2010-2050

Country

2010 GDP/Capita[2]

% of US GDP/Capita[3]

% Av. Growth

3G Index

Mongolia

$3,764

6.3

0.63

Nigeria

$2,335

6.9

0.25

Philippines

$3,684

5.5

0.60

Sri Lanka

$4,988

11

5.5

0.33

Vietnam

$3,108

6.4

0.86

Note: China and India highligted in Gold with Bold text as also BRIC countries. Bigger index means better conditions. GDP per capita measured at 2010 PPP USD. Average growth is average growth in forecast of real GDP per capita measured at 2010 PPP USD.

Bangladesh Economy: Growth Highlights

Bangladesh is a member of several international organizations, including the Commonwealth of Nations, BIMSTEC, SAARC, the D-8 and the OIC. According to the Country Brief released by the World Bank in July 2005, Bangladesh has improved considerably in terms of reduction in population growth, human development and gender parity in schooling. The poverty rate of the country has seen a decline of 20% since the early 1990s.

Since 1975, there has been a two-fold increase in the per-capita GDP. During the 2008 global economic recession, Bangladesh managed to stay flexible. According to the Bangladesh Bureau of Statistics (BBS), there was an increment of $62 in the per capita GDP in FY2009 from US$559 at the end of FY2008. Fiscal 2009 registered per capita income of US$621. About 25% of the countrys GDP in 2009 came from remittances of expatriates, totaling $9.7 billion and garment exports worth $12.3 billion.

According to the World Bank, Bangladesh has achieved a growth rate of 5.7% in FY2009. The country has registered significant expansion in its middle class. The consumer industry has grown considerably. The increasing foreign direct investment highlights the growth rate of the Bangladesh economy.

Bangladeshs economic freedom score is 53, making its economy the 130th freest in the 2011 Index. Its overall score is 1.9 points better than last year, mainly reflecting improvements in business freedom and investment freedom. Bangladesh is ranked 27th out of 41 countries in the AsiaPacific region. Bangladeshs economy remains overly dependent on agriculture, which accounts for almost 20 percent of GDP and employs more than half of the labor force. State-owned enterprises are a significant presence in most productive sectors, including those that are usually dominated by the private sector in other economies. Weak governance and structural problems continue to constrain Bangladeshs development. The inefficient regulatory regime is often heavily politicized, and the substantial presence of state-owned enterprises crowds out private investment. Corruption, coupled with onerous bureaucracy, is still perceived as pervasive, and the underdeveloped financial sector impedes the growth of a more dynamic private sector.