Bangladesh Economy

Is Bangladesh a wealthy country?

Bangladesh's economy has grown roughly 6% per year since 2005 despite prolonged periods of political instability, poor infrastructure, endemic corruption, insufficient power supplies, and slow implementation of economic reforms. Although more than half of GDP is generated through the services sector, almost half of Bangladeshis are employed in the agriculture sector, with rice as the single-most-important product.

Garments, the backbone of Bangladesh's industrial sector, accounted for more than 80% of total exports in FY 2016-17. The industrial sector continues to grow, despite the need for improvements in factory safety conditions. Steady export growth in the garment sector, combined with $13 billion in remittances from overseas Bangladeshis, contributed to Bangladesh's rising foreign exchange reserves in FY 2016-17. Recent improvements to energy infrastructure, including the start of liquefied natural gas imports in 2018, represent a major step forward in resolving a key growth bottleneck.

Bangladesh Economy Data

What is the GDP of Bangladesh?

Currency Name and Code Bangladeshi Taka (BDT)
GDP - Gross Domestic Product (PPP) $793,490,000,000 (USD)
GDP - official exchange rate $226,800,000,000 (USD)
GDP - real growth rate 6.9%
GDP Per Capita $3,900.00 (USD)
GDP by Sector- agriculture 15.1%
GDP by Sector- Industry 28.6%
GDP by Sector- services 56.3%
GDP - composition, by end use Household Consumption: 70.3%

Government Consumption: 5.2%

Investment in Fixed Capital: 28.2%

Investment in Inventories: 3%

Exports of Goods and Services: 16.5%

Imports of Goods and Services: -23.2%
Population Below Poverty Line 31.5%
Inflation Rate 5.6%
Labor Force 83,590,000
Labor Force By Occupation- agriculture 47%
Labor Force By Occupation- industry 13%
Labor Force By Occupation- services 40%
Unemployment Rate 4.9%
Unemployment - note About 40% of the population is underemployed; many persons counted as employed work only a few hours a week and at low wages
Fiscal Year 1 July - 30 June
Annual Budget $23,780,000,000 (USD)
Budget Surplus or Deficit - percent of GDP -5.1%
Public Debt (% of GDP) 25.9%
Taxes and other revenues - percent of GDP 10.5%
Major Industries 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
Industrial Growth Rate 8.4%
Agriculture Products Rice, jute, tea, wheat, sugarcane, potatoes, tobacco, pulses, oilseeds, spices, fruit; beef, milk, poultry
Exchange Rate per US Dollar 78.5
Child Labor - % of children ages 5-14 13%
Child Labor - # of children ages 5-14 4,485,497
Commercial Bank Prime Lending Rate 10.7%

Labor Force by Occupation- As reported by Bangladesh

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