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World > Asia > Bangladesh > Economy (Facts)

Bangladesh - Economy (Facts)
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 party's 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 - real growth rate: 6.6% (2006 est.)
GDP (purchasing power parity): $336.7 billion (2006 est.)
GDP (official exchange rate): $69.34 billion (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.)
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.)
Inflation rate (consumer prices): 7.2% (2006 est.)
Labor force: 68 million
note: extensive export of labor to Saudi Arabia, Kuwait, UAE, Oman, Qatar, and Malaysia; workers' remittances estima
Labor force - by occupation: agriculture: 63%
industry: 11%
services: 26% (FY95/96)
Unemployment rate: 2.5% (includes underemployment) (2006 est.)
Budget: revenues: $6.389 billion
expenditures: $8.694 billion; including capital expenditures of NA (2006 est.)
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 - exports: 0 cu m (2004 est.)
Natural gas - imports: 0 cu m (2004 est.)
Agriculture - products: rice, jute, tea, wheat, sugarcane, potatoes, tobacco, pulses, oilseeds, spices, fruit; beef, milk, poultry
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)
Debt - external: $22.55 billion (2006 est.)
Economic aid - recipient: $1.575 billion (2000 est.)
Currency: Bangladeshi Taka (BDT)
Currency code: BDT
Exchange rates: taka per US dollar - 69.031 (2006), 64.328 (2005), 59.513 (2004), 58.15 (2003), 57.888 (2002)
Fiscal year: 1 July - 30 June


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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