Economy overview: Despite continuous domestic and international efforts to improve the economic and demographic situation, Bangladesh remains one of the poorest, most densely populated and underdeveloped countries in the world. Although more than half of GDP comes from the service sector, the agricultural sector employs about two-thirds of Bangladeshis, rice is the main crop. The main obstacles to economic growth are frequent cyclones and floods, the inefficiency of state-owned enterprises, the rapid growth of the non-agricultural labor force, the delay in the exploitation of energy resources (natural gas), insufficient energy supplies, and the delay in economic reforms. Many reforms have been put on hold due to internal political infighting and corruption at all levels of government. The People’s League government has made some progress in creating a favorable climate for foreign investment and in liberalizing capital markets. Other economic reforms stalled as a result of resistance from bureaucrats, public sector trade unions, and other groups. See businesscarriers.com to know more about Bangladesh Economics and Business.
GDP: Purchasing Power Parity $203 billion (2000 est.)
Real GDP growth rate: 5.3% (2000 est.).
GDP per capita: Purchasing Power Parity $1,570 (2000 est.)
The composition of GDP by sectors of the economy: agriculture: 30%; industry: 18%; services: 52% (2000 est.).
Proportion of population below the poverty line: 35.6% (FY95-96, OC).
Percentage distribution of family income or consumption: per 10% of the poorest families: 3.9%; top 10% of households: 28.6% (FY95-96 est.).
Inflation rate at consumer prices: 5.8% (2000 est.).
Work force: 64.1 million people (1998); note: the labor force is widely exported to Saudi Arabia, Kuwait, UAE, Oman, Qatar, Malaysia; workers’ remittances to their home countries in FY98-99 amounted to $1.71 billion.
Employment structure: agriculture 63%, services 26%, industry 11% (FY95-96).
Unemployment rate: 35.2% (1996)
Budget: revenues: $4.9 billion; expenditures: $6.8 billion, including capital expenditures – NA (FY99-2000).
Spheres of economy: production of cotton fabrics, jute products, production of clothes, tea, newsprint, cement, chemical fertilizers, lighting engineering, sugar.
Growth in industrial production: 6.1% (2000 est.).
Electricity generation: 12.06 billion kWh (1999 est.)
Sources of electricity generation: fossil fuels: 93.7%; hydropower: 6.3%; nuclear fuel: 0%; others: 0% (1999).
Electricity consumption: 11.216 billion kWh (1999)
Electricity export: 0 kWh (1999).
Electricity import: 0 kWh (1999).
Agricultural products: rice, jute, tea, wheat, sugarcane, potatoes; beef, milk, poultry, tobacco, beans, oilseeds, spices, fruits.
Export: $5.9 billion (2000)
Exports: garments, jute and jute products, leather, frozen fish and seafood.
Export partners: US 31.2%, Germany 9.95%, UK 8.06%, France 5.82%, Italy 4.42% (1999).
Imports: $8.1 billion (2000)
Imports: machinery and equipment, chemicals, iron and steel, fabrics, raw cotton, food products, crude oil and oil products, cement.
Import partners: India 12.2%, Singapore 7.8%, Japan 6.7%, China 6.4%, USA 5.3% (1999).
External debt: $17 billion (2000) Economic aid recipient: $1.575 billion (2000 est.)
Economic aid donor:
Currency code: BDT.
Exchange rate: BDT/USD – 54.000 (January 2001), 52.142 (2000), 49.085 (1999), 46.906 (1998), 43.892 (1997), 41.794 (1996), 40.278 (1995).
Fiscal year: July 1-June 30.
Telecommunications Telephone lines: 500,000 (2000).
Mobile cellular telephones: 283,000 (2000).
Telephone system: generally not up-to-date; internal: modernized; digital systems are being introduced; trunk systems include VHF and UHF microwave radio links and some fiber optic cables in cities; international: satellite ground stations – 2 Intelsat (Indian Ocean); international radiotelephony and terrestrial communication lines with neighboring states.
Broadcast stations: AM -12, FM -12, shortwave -2 (1999).
Radio receivers: 6.15 million (1997)
Television broadcast stations: 15 (1999).
TVs: 770,000 (1997).
Internet country code: bd
Internet service providers: 10 (2000).
Number of users: 30,000 (2000).
Transport Railways: total: 2,745 km; with broad gauge: 923 km (gauge 1,676 m); narrow gauge:} b22 km (1,000 m gauge) (1998 est.).
Roads: total: 201,182 km; coated: 19,112 km; unpaved: 182,070 km (1997 est.)
Waterways: up to 8,046 km navigable depending on the season (including 3,058 km of main transport routes).
Pipelines: for natural gas -1,250 km.
Ports and harbors: Dhaka, Mongla Port, Narayan Ganj, Chittagong.
Merchant navy: in total: 35 ships (displacement 1,000 tons or more) with a total displacement of 268,566 gross register tons / 375,110 long tons of gross tonnage; ships of various types: dry cargo ships – 2, cargo ships – 25, container ships – 3, oil tankers – 2, refrigerated ships – 1, ferries – 2 (2000 est.).
Airports: 18 (2000 est.).
Airports with paved runways: total: 15; over 3,047 m: 2; from 2438 to 3047 m: 3; from 1,524 to 2,437 m: 4; from 914 to 1523 m:1; less than 914 m: 5 (2000 est.).
Airports with unpaved runways: total: 3; from 1524 to 2437 m:1; less than 914 m: 2 (2000 est.).
Branches of the Armed Forces: Army, Navy, Coast Guard, Air Force, paramilitaries (this includes the Bangladeshi Rifles, Bangpadesh Ansar, Rural Defense Units, National Cadet Corps), armed police battalions.
Total military manpower: men 15 to 49: 36,005,553 (2001 est.).
Eligible for military service: men aged 15 to 49: 21,362,279 (2001 est.).
Number of persons reaching military age each year:
Military spending in dollar terms: $559M (FY96-97).
Military spending as part of GDP: 1.8% (FY96-97)
International issues International disputes: part of the border with India is not defined; exchange of 151 enclaves along the border with India pending ratification by the Indian Parliament; dispute with India over South Talpatty Island (New Moor).
Illicit drugs: Bangladesh is the transit point for illicit drugs produced in neighboring countries.