CIA Factbook The World Factbook 1994: BangladeshEconomy Overview: Bangladesh is one of the world's poorest, most densely populated, and least developed nations. Its economy is overwhelmingly agricultural, with the cultivation of rice the single most important activity in the economy. 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. Excellent rice crops and expansion of the export garment industry helped growth in FY92 and FY93. 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—purchasing power equivalent—$122 billion (1993 est.) National product real growth rate: 4.3% (FY93) National product per capita: $1,000 (1993 est.) Inflation rate (consumer prices): 1.4% (FY93) Unemployment rate: NA% Budget: • revenues: $2.5 billion • expenditures: $3.7 billion, including capital expenditures of $NA (FY92) Exports: $2.1 billion (FY93) • commodities: garments, jute and jute goods, leather, shrimp • partners: US 33%, Western Europe 39% (Germany 8.4%, Italy 6%) (FY92 est.) Imports: $3.5 billion (FY93) • commodities: capital goods, petroleum, food, textiles • partners: Hong Kong 7.5%, Singapore 7.4%, China 7.4%, Japan 7.1% (FY92 est.) External debt: $13.5 billion (June 1993) Industrial production: growth rate 6.9% (FY93 est.); accounts for 9.4% of GDP Electricity: • capacity: 2,400,000 kW • production: 9 billion kWh • consumption per capita: 75 kWh (1992) Industries: jute manufacturing, cotton textiles, food processing, steel, fertilizer Agriculture: accounts for 33% of GDP, 65% of employment, and one-fifth of exports; world's largest exporter of jute; commercial products—jute, rice, wheat, tea, sugarcane, potatoes, beef, milk, poultry; shortages include wheat, vegetable oils, cotton Illicit drugs: transit country for illegal drugs produced in neighboring countries Economic aid: • recipient: 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 poiska Exchange rates: taka (Tk) per US$1—40.064 (January 1994), 39.567 (1993), 38.951 (1992), 36.596 (1991), 34.569 (1990), 32.270 (1989) Fiscal year: 1 July–30 June