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Compare Bangladesh (2007) - Bangladesh (2008)

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 Bangladesh (2007)Bangladesh (2008)
 BangladeshBangladesh
Background Europeans began to set up trading posts in the area of Bangladesh in the 16th century; eventually the British came to dominate the region and it became part of British India. In 1947, West Pakistan and East Bengal (both primarily Muslim) separated from India (largely Hindu) and jointly became the new country of Pakistan. East Bengal became East Pakistan in 1955, but the awkward arrangement of a two-part country with its territorial units separated by 1,600 km left the Bengalis marginalized and dissatisfied. East Pakistan seceded from its union with West Pakistan in 1971 and was renamed Bangladesh. About a third of this extremely poor country floods annually during the monsoon rainy season, hampering economic development. Europeans began to set up trading posts in the area of Bangladesh in the 16th century; eventually the British came to dominate the region and it became part of British India. In 1947, West Pakistan and East Bengal (both primarily Muslim) separated from India (largely Hindu) and jointly became the new country of Pakistan. East Bengal became East Pakistan in 1955, but the awkward arrangement of a two-part country with its territorial units separated by 1,600 km left the Bengalis marginalized and dissatisfied. East Pakistan seceded from its union with West Pakistan in 1971 and was renamed Bangladesh. A military-backed caretaker regime suspended planned parliamentary elections in January 2007 in an effort to reform the political system and root out corruption; the regime has pledged new democratic elections by the end of 2008. About a third of this extremely poor country floods annually during the monsoon rainy season, hampering economic development.
Budget revenues: $6.633 billion


expenditures: $9.34 billion (2006 est.)
revenues: $7.078 billion


expenditures: $9.642 billion (2007 est.)
Debt - external $19.59 billion (2006 est.) $20.25 billion (31 December 2007 est.)
Diplomatic representation in the US chief of mission: Ambassador M. Humayun KABIR


chancery: 3510 International Drive NW, Washington, DC 20008


telephone: [1] (202) 244-0183


FAX: [1] (202) 244-5366


consulate(s) general: Los Angeles, New York
chief of mission: Ambassador M. Humayun KABIR


chancery: 3510 International Drive NW, Washington, DC 20008


telephone: [1] (202) 244-0183


FAX: [1] (202) 244-7830/2771


consulate(s) general: Los Angeles, New York
Economy - overview Despite sustained domestic and international efforts to improve economic and demographic prospects, Bangladesh remains a poor, overpopulated, and inefficiently-governed nation. Although more than half of GDP is generated through the service sector, nearly two-thirds of Bangladeshis are employed in the agriculture sector, with rice as the single-most-important product. Major impediments to growth include frequent cyclones and floods, inefficient state-owned enterprises, inadequate port facilities, a rapidly growing labor force that cannot be absorbed by agriculture, delays in exploiting energy resources (natural gas), insufficient power supplies, and slow implementation of economic reforms. Reform is stalled in many instances by political infighting and corruption at all levels of government. Opposition from the bureaucracy, public sector unions, and other vested interest groups also have blocked progress. The BNP government, led by Prime Minister Khaleda ZIA, has the parliamentary strength to push through needed reforms, but the party's political will to do so has been lacking in key areas. On an encouraging note, growth has been a steady 5-6% for the past several years. The economy has grown 5-6% over the past few years despite inefficient state-owned enterprises, delays in exploiting natural gas resources, insufficient power supplies, and slow implementation of economic reforms. Bangladesh remains a poor, overpopulated, and inefficiently-governed nation. Although more than half of GDP is generated through the service sector, nearly two-thirds of Bangladeshis are employed in the agriculture sector, with rice as the single-most-important product. Garment exports and remittances from Bangladeshis working overseas, mainly in the Middle East and East Asia, fuel economic growth.
Exchange rates taka per US dollar - 69.031 (2006), 64.328 (2005), 59.513 (2004), 58.15 (2003), 57.888 (2002) taka per US dollar - 69.893 (2007), 69.031 (2006), 64.328 (2005), 59.513 (2004), 58.15 (2003)
Exports NA bbl/day 1,100 bbl/day (2004)
Exports - partners US 25%, Germany 12.6%, UK 9.8%, France 4.9% (2006) US 24.9%, Germany 12.8%, UK 9.8%, France 5% (2006)
GDP - composition by sector agriculture: 19.7%


industry: 28%


services: 52.3% (2006 est.)
agriculture: 19%


industry: 28.7%


services: 52.3% (2007 est.)
GDP - real growth rate 6.4% (2006 est.) 6% (2007 est.)
Imports NA bbl/day 81,010 bbl/day (2004)
Industrial production growth rate 7.2% (2006 est.) 9.5% (2007 est.)
Inflation rate (consumer prices) 6.8% (2006 est.) 8.8% (2007 est.)
International organization participation ARF, AsDB, BIMSTEC, C, CP, FAO, G-77, IAEA, IBRD, ICAO, ICC, ICCt (signatory), ICRM, IDA, IDB, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, MINURSO, MONUC, NAM, OIC, OPCW, SAARC, SACEP, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNMEE, UNMIL, UNMIS, UNOCI, UNOMIG, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO ADB, ARF, BIMSTEC, C, CP, FAO, G-77, IAEA, IBRD, ICAO, ICC, ICCt (signatory), ICRM, IDA, IDB, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, MINURSO, MONUC, NAM, OIC, OPCW, SAARC, SACEP, UN, UNAMID, UNCTAD, UNESCO, UNHCR, UNIDO, UNMEE, UNMIL, UNMIS, UNMIT, UNOCI, UNOMIG, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO
Labor force 68 million


note: extensive export of labor to Saudi Arabia, Kuwait, UAE, Oman, Qatar, and Malaysia; workers' remittances estimated at $4.8 billion in 2005-06. (2006 est.)
69.4 million


note: extensive export of labor to Saudi Arabia, Kuwait, UAE, Oman, Qatar, and Malaysia; workers' remittances estimated at $4.8 billion in 2005-06. (2007 est.)
Legislative branch unicameral National Parliament or Jatiya Sangsad; 300 seats elected by popular vote from single territorial constituencies; members serve five-year terms


elections: last held 1 October 2001 (the scheduled January 2007 election has been postponed)


election results: percent of vote by party - BNP and alliance partners 41%, AL 40%, other 19%; seats by party - BNP 193, AL 58, JI 17, JP (Ershad faction) 14, IOJ 2, JP (Manzur) 4, other 12; note - the election of October 2001 brought to power a majority BNP government aligned with three other smaller parties - JI, IOJ, and Jatiya Party (Manzur)
unicameral National Parliament or Jatiya Sangsad; 300 seats elected by popular vote from single territorial constituencies; members serve five-year terms; note - parliament not in session during the extended caretaker regime


elections: last held 1 October 2001 (the scheduled January 2007 election has been postponed till late 2008)


election results: percent of vote by party - BNP and alliance partners 41%, AL 40%, other 19%; seats by party - BNP 193, AL 58, JI 17, JP (Ershad faction) 14, IOJ 2, JP (Manzur) 4, other 12; note - the election of October 2001 brought to power a majority BNP government aligned with three other smaller parties - JI, IOJ, and Jatiya Party (Manzur)
Military branches Bangladesh Defense Force: Bangladesh Army, Bangladesh Navy, Bangladesh Air Force (Bangladesh Biman Bahini, BAF) (2006) Bangladesh Defense Force: Bangladesh Army, Bangladesh Navy, Bangladesh Air Force (Bangladesh Biman Bahini, BAF) (2008)
Pipelines gas 2,604 km (2006) gas 2,644 km (2007)
Unemployment rate 2.5% (includes underemployment) (2006 est.) 2.5% (includes underemployment) (2007 est.)
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