Bangladesh
General information
Bangladesh has demonstrated strong economic fundamentals with a consistent GDP growth rate of above 6% over the last seven years. This Growth in GDP is supported by expanding domestic market and a significant growtu in per capita income. In addition to the domestic demand, low-cost labor with growing skills provide Bangladesh potential competitive advantages to attract labor-intensive industries and serve as a hub to cater the export demands. Moreover, the cost of doing business in Dhaka City is considered to be one of the lowest when compared to other major cities. A study by JETRO Illustrates that the cost of doing business in Dhaka is lowest among 28 South Asian Cities. Japan External Trade Organization (JETRO) in its 2017 survey mentioned that Bangladesh has continued to be an attractive destination for Japanese companies to do business due to lower production cost and labor wage compared to those of 19 countries in Asia and Oceania.
| Official Name | : | The People’s Republic of Bangladesh |
| Political system | : | Parliamentary democracy |
| Capital name | : | Dhaka |
| Time zone | : | GMT + 6 hours |
| Major cities | : | Dhaka, Chittagong, Khulna, Rajshahi, Sylhet, Barisal, Rangpur |
| Principal rivers | : | Padma, Meghna, Jamuna, Brahmaputra, Teesta, Surma and Karnaphuli.(total 310 rivers including tributaries) |
| Principal industries | : | Ready made garments, pharmaceuticals, cements, garment accessories, chemicals, fertilizers, newsprint, leather and leather goods, paper, sugar, jute, ship building |
| Principal 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. |
| Source: Statistical Pocket Book Bangladesh-2020, Bangladesh Bureau of Statistics | ||
Geography
| Location | : | Bangladesh location is in between North latitude – Between 20°34′ and 26°38′ East longitude – Between 88°01′ and 92°41′ | |||||||||||||||||||||||||||||||||||
| Boundary | : | North, West and East: India South East: Myanmar(Burma) South : Bay of Bengal |
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| Area | : | 56977 sq. miles or 147570 sq. km | |||||||||||||||||||||||||||||||||||
| Territorial water | : | 200 nautical miles | |||||||||||||||||||||||||||||||||||
| Main seasons | : | Summer: March-May Rainy Season (Monsoon): June-September Winter: December-Februar |
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| Climate variations | : |
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| Principal seasonal crops and fruits | : | Paddy, jute, wheat, tobacco, pulses, oil seeds, spices, vegetables, jack-fruit, banana, mango, coconut, pineapple etc. | |||||||||||||||||||||||||||||||||||
| Natural resources | : | Natural gas, coal, lime, white clay, granite, glass sand. | |||||||||||||||||||||||||||||||||||
| Source: Statistical Pocket Book Bangladesh-2020, Bangladesh Bureau of Statistics | |||||||||||||||||||||||||||||||||||||
Economy
| Overview | ||
| GDP total | : | Tk 30,11,065 crore (at current prices FY 2020-21) |
| GDP per capita | : | US $2,097 (at current prices FY 2020-21) |
| GDP growth rate (%) | : | 5.47 (2020-21) |
| Total exports | : | $12.84 bn (July-October 2020-21) |
| Total imports | : | $60.68 bn (July-June 2021) |
| Total FDI | : | $2.65 bn (2017-18) |
| Forex reserves | : | $42.8 bn (Sep, 2021) |
| Currency | : | BDT (1 BDT=$0.0121) (avg 2010-21) |
| Source: Financial Express Finalcial Express Bangladesh Economic Review-2021, Export Promotion Bureau |
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