Bangladesh - Economy
How is the economy of Bangladesh? Based on the information we have, Bangladesh has a one of the fastest growing emerging market economies; strong economic rebound following COVID-19; significant poverty reduction; exports dominated by textile industry; weakened exports and remittances resulted in declining foreign exchange reserves and 2022 IMF loan request. Key agricultural products in this country include: rice, milk, potatoes, maize, sugarcane, onions, vegetables, jute, mangoes/guavas, tropical fruits (2022).
More about the economy of Bangladesh
| Labor force | 74.914 million (2023 est.) |
|---|---|
| Industrial production growth rate | 8.37% (2023 est.) |
| Industries | cotton, textiles and clothing, jute, tea, paper, cement, fertilizer, sugar, light engineering |
| Population below poverty line | 18.7% (2022 est.) |
| Taxes and other revenues | 7.64% (of GDP) (2021 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | taka (BDT) per US dollar - |
| Exchange rates 2023 | 106.309 (2023 est.) |
| Exchange rates 2022 | 91.745 (2022 est.) |
| Exchange rates 2021 | 85.084 (2021 est.) |
| Exchange rates 2020 | 84.871 (2020 est.) |
| Exchange rates 2019 | 84.454 (2019 est.) |
| Debt - external | |
| Debt - external 31 December 2017 | $50.26 billion (31 December 2017 est.) |
| Debt - external 31 December 2016 | $41.85 billion (31 December 2016 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $21.86 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $33.747 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $46.166 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | $4.388 billion (2023 est.) |
| Current account balance 2022 | -$14.438 billion (2022 est.) |
| Current account balance 2021 | -$15.775 billion (2021 est.) |
| Public debt | |
| Public debt 2017 | 33.1% of GDP (2017 est.) |
| Budget | |
| Revenues | $30.023 billion (2019 est.) |
| Expenditures | $46.379 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 5.26% of GDP (2023 est.) |
| Remittances 2022 | 4.67% of GDP (2022 est.) |
| Remittances 2021 | 5.33% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 3.5% (2022 est.) |
| Highest 10% | 27.4% (2022 est.) |
| Average household expenditures | |
| On food | 52.7% of household expenditures (2021 est.) |
| On alcohol and tobacco | 2.1% of household expenditures (2021 est.) |
| Imports | |
| Imports 2023 | $73.172 billion (2023 est.) |
| Imports 2022 | $93.635 billion (2022 est.) |
| Imports 2021 | $85.299 billion (2021 est.) |
| Imports (partners) | China 32%, India 17%, Singapore 6%, Malaysia 5%, Indonesia 5% (2022) |
| Comodities Imports force | refined petroleum, cotton fabric, cotton, fabric, fertilizers (2022) |
| Exports | |
| Imports 2023 | $73.172 billion (2023 est.) |
| Imports 2022 | $93.635 billion (2022 est.) |
| Imports 2021 | $85.299 billion (2021 est.) |
| Exports (partners) | US 18%, Germany 16%, UK 8%, Spain 7%, Poland 6% (2022) |
| Comodities Exports force | garments, footwear, fabric, textiles, jute yarn (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $1.413 trillion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $1.336 trillion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $1.248 trillion (2021 est.) |
| GDP (official exchange rate) | $437.415 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $8,200 (2023 est.) |
| Real GDP per capita 2022 | $7,800 (2022 est.) |
| Real GDP per capita 2021 | $7,400 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 14.2% (2017 est.) |
| Industry | 29.3% (2017 est.) |
| Services | 56.5% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 68.7% (2017 est.) |
| Government consumption | 6% (2017 est.) |
| Investment in fixed capital | 30.5% (2017 est.) |
| Investment in inventories | 1% (2017 est.) |
| Exports of goods and services | 15% (2017 est.) |
| Imports of goods and services | -20.3% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 5.06% (2023 est.) |
| Unemployment rate 2022 | 5.25% (2022 est.) |
| Unemployment rate 2021 | 5.82% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 15.7% (2023 est.) |
| Male | 13.5% (2023 est.) |
| Female | 20.4% (2023 est.) |
All Important Facts about Bangladesh
Want to know more about Bangladesh? Check all different factbooks for Bangladesh below.
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Bangladesh Factbook
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The Economy of Bangladesh
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Learn about the Government of Bangladesh
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Communication in Bangladesh
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Popular Universities in Bangladesh
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Enerny in Bangladesh
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Transport in Bangladesh
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The Geography and society of Bangladesh
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The Environment of Bangladesh
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Military and security in Bangladesh