Bangladesh: Economy
The World Factbook 1993: Bangladesh Economy

Overview: Bangladesh is one of the world's poorest, most densely populated, and least developed nations. Its economy is overwhelmingly agricultural. Major impediments to growth include frequent cyclones and floods, government interference with the economy, a rapidly growing labor force that cannot be absorbed by agriculture, a low level of industrialization, failure to fully exploit energy resources (natural gas), and inefficient and inadequate power supplies. An excellent rice crop and expansion of the export garment industry helped growth in FY91/92. Policy reforms intended to reduce government regulation of private industry and promote public-sector efficiency have been announced but are being implemented only slowly.

National product: GDP - exchange rate conversion - $23.8 billion (FY92)

National product real growth rate: 3.8% (FY92)

National product per capita: $200 (FY92)

Inflation rate (consumer prices): 5.09% (FY92)

Unemployment rate: NA%

Budget: revenues $2.5 billion; expenditures $3.7 billion, including capital expenditures of $NA (FY92)

Exports: $2.0 billion (FY92) commodities: garments, jute and jute goods, leather, shrimp partners: US 28%, Western Europe 39% (FY91) Imports: $3.4 billion (FY91/92) commodities: capital goods, petroleum, food, textiles partners: Japan 10.0%, Western Europe 17%, US 5.0% (FY91)

External debt: $11.8 billion (FY92 est.)

Industrial production: growth rate 4.0% (FY92 est.); accounts for less than 10% of GDP

Electricity: 2,400,000 kW capacity; 9,000 million kWh produced, 75 kWh per capita (1992)

Industries: jute manufacturing, cotton textiles, food processing, steel, fertilizer

Agriculture: accounts for about 40% of GDP, 60% of employment, and one-fifth of exports; imports 10% of food grain requirements; world's largest exporter of jute; commercial products - jute, rice, wheat, tea, sugarcane, potatoes, beef, milk, poultry; shortages include wheat, vegetable oils, cotton; fish catch 778,000 metric tons in 1986

Illicit drugs: transit country for illegal drugs produced in neighboring countries

Economic aid: US commitments, including Ex-Im (FY70-89), $3.4 billion; Western (non-US) countries, ODA and OOF bilateral commitments (1980-89), $11.65 million; OPEC bilateral aid (1979-89), $6.52 million; Communist countries (1970-89), $1.5 billion

Currency: 1 taka (Tk)=100 paise

Exchange rates: taka (Tk) per US$1 - 39.000 (January 1993), 38.951 (1992), 36.596 (1991), 34.569 (1990), 32.270 (1989), 31.733 (1988)

Fiscal year: 1 July-30 June