Bangladesh

Bangladesh

Bangladesh

General Info

Official Name People’s Republic of Bangladesh
Area 147,570 sq km
Arable as % of Total Land 61
Population 156 m
Main Cities Dhaka (capital), Chittagong, Khulna, Rajshahi
Climate Tropical monsoon
Language Bengali
Measures Imperial system
Currency Taka (Tk)
Time 6 hours ahead of GMT
Weekends Friday, Saturday
Main Harbours Chittagong Port, Mongla Port, Sylhet
Main Airports Dhaka, Sylhet and Chittagong

Location and Geography:

Bangladesh, located in the Eastern part of South Asia, straddles the Tropic of Cancer and is enclosed by India with the exception of a short South-eastern frontier with Myanmar (formerly Burma). The Bay of Bengal lies to the South. The most significant feature of the landscape is the rivers, which have moulded not only their environment but also the way the people live. The landmass is deltaic comprising mainly the delta of three rivers: the Ganges, the Brahmaputra and the Maghna, with a network of numerous canals. The land is mostly flat alluvial plain with some hills in the South-east. Flooding of the land is a major problem. Two-thirds of the land are arable and 16 percent is covered with forests. The climate is sub-tropical and is dominated by the seasonally reversing monsoons. Winters are cool and dry, summers are hot and humid. The subtropical climate has made the country luxuriant in vegetation.

Economic Indicators

2003 2004 2005 2006 2007
GDP  
Nominal GDP (US$bn) 51.9 56.5 60.0 61.9 67.8
Real GDP Growth (%) 5.3 6.3 6.0 6.6 6.5
Origin of GDP (%real change)  
Agriculture 3.1 4.1 2.2 4.9 3.2
Industry 7.3 7.6 8.3 9.7 9.5
Services 5.4 14.7 6.4 5.7 6.2
GDP per capita (US$ at PPP) 931 996 1,062 1,147 1,233
Prices and financial indicators
Exchange Rates Tk:US$ (end-period) 58.78 60.74 66.21 69.07 68.58
Consumer Prices (end period; % change) 9.6 5.5 7.1 6.1 11.6
Lending interest rate (av; %) 16.0 14.8 14.0 15.3 16.0
Trade Balance -2,442 -3,006 -3,199 -2,890 -4,279
Goods:exports fob 7,050 8,151 9,303 11,554 11,746
Goods: imports cif -9,492 -11,157 -12,502 -14,443 -16,025
Current-account balance (US$bn) 132 -279 -176 1,204 773
External Debt (US$m)
Debt stock 18,774 20,129 18,928 20,521 21,231
Debt service paid 672 671 805 685 1,024
Interest 176 209 236 231 281
Total International Reserves (US$m) 2,624 3,222 2,825 3,877 5,515

Trade Figures

a.

2003 2004 2005 2006 2007
Exports fob 7,050 8,151 9,303 11,554 11,746
Imports cif -9,492 -11,157 -12,502 -14,443 -16,025
Trade Volume 16,542 19,308 21,805 25,997 27,771
Trade Balance -2,442 -3,006 -3,199 -2,890 -4,279

b.

Exports by main destination Exports Imports by main origin Imports
EU (27) 56.1% China 13.9%
United States 26.2% India 11.2%
Canada 4.0 EU (27) 10.0%
Japan 1.5 Japan 9.6%
India 1.3 Singapore 4.3%

c.

Major exports: Readymade garments, frozen foods (shrimps), leather, leather products, jute, jute products, tea, ceramic, textile fabrics, home textile, chemical product, light engineering products including bi-cycle.

Major imports: Oil, edible oil, petroleum product, wheat, seeds, fertilizer, yarn, capital goods, machinery, power generating machinery, scientific & medical equipment, iron & steel, motor vehicles, raw cotton, chemicals.

d.

Exports by main commodity groups Share Imports by main commodity groups Share
Agricultural products 7.2% Agricultural products 21.0%
Fuels and mining products 0.7% Fuels and mining products 14.7%
Manufactures 92.1% Manufactures 63.7%

Others

Industry

Cotton textiles, jute, garments, tea processing, paper newsprint, cement, chemical fertilizer, light engineering, sugar

Agriculture

Rice, jute, tea, wheat, sugarcane, potatoes, tobacco, pulses, oilseeds, spices, fruit; beef, milk, poultry

The majority of the population in Bangladesh is engaged in agriculture. The country’s rivers and the sea coast are suitable for fisheries. Jute has traditionally occupied a pivotal position in the Bangladeshi economy since it links agriculture to industry. Bangladesh has a significant number of large and small sized industries run both by public and private ownership, and based on indigenous and imported raw materials. Among them are jute and cotton textiles, garments, paper, newsprint, fertilisers, and cigarettes. Bangladesh produces most of its domestic food needs in rice, wheat, corn, grains, legumes, fruits and vegetables. Rice is the staple food grain. Natural gas is the most important source of energy in the country. The other main natural resources are lignite coal, limestone, glass sand and timber.