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- Economy
-
- Overview: The economy is based on the output of a narrow range
- of agricultural products, such as jute, which is the main cash
- crop and major source of export earnings. Bangladesh is hampered
- by a relative lack of natural resources, a rapid population growth
- of 2.8% a year and a limited infrastructure, and it is highly
- vulnerable to natural disasters. Despite these constraints, real
- GDP averaged about 3.8% annually during 1985-88. One of the poorest
- nations in the world, alleviation of poverty remains the cornerstone
- of the government's development strategy. The agricultural sector
- contributes over 50% to GDP and 75% to exports, and employs over 74%
- of the labor force. Industry accounts for about 10% of GDP.
-
- GDP: $20.6 billion, per capita $180; real growth rate 2.1%
- (FY89 est.).
-
- Inflation rate (consumer prices): 8-10% (FY89 est.).
-
- Unemployment rate: 30% (FY88 est.).
-
- Budget: revenues $1.8 billion; expenditures $3.3 billion,
- including capital expenditures of $1.7 billion (FY89).
-
- Exports: $1.3 billion (f.o.b., FY89 est.); commodities--jute,
- tea, leather, shrimp, manufacturing; partners--US 25%, Western
- Europe 22%, Middle East 9%, Japan 8%, Eastern Europe 7%.
-
- Imports: $3.1 billion (c.i.f., FY89 est.); commodities--food,
- petroleum and other energy, nonfood consumer goods, semiprocessed
- goods, and capital equipment; partners--Western Europe 18%,
- Japan 14%, Middle East 9%, US 8%.
-
- External debt: $10.4 billion (December 1989).
-
- Industrial production: growth rate 5.4% (FY89 est.).
-
- Electricity: 1,700,000 kW capacity; 4,900 million kWh produced,
- 40 kWh per capita (1989).
-
- Industries: jute manufacturing, food processing, cotton
- textiles, petroleum, urea fertilizer.
-
- Agriculture: accounts for about 50% of GDP and 74% of both
- employment and 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 and cotton; fish
- catch 778,000 metric tons in 1986.
-
- Aid: US commitments, including Ex-Im (FY70-87), $3.2 billion;
- Western (non-US) countries, ODA and OOF bilateral commitments
- (1980-87), $9.5 billion; OPEC bilateral aid (1979-89), $652
- million; Communist countries (1970-88), $1.5 billion.
-
- Currency: taka (plural--taka); 1 taka (Tk) = 100 paise.
-
- Exchange rates: taka (Tk) per US$1--32.270 (January 1990),
- 32.270 (1989), 31.733 (1988), 30.950 (1987), 30.407 (1986),
- 27.995 (1985).
-
- Fiscal year: 1 July-30 June.
-