Data at glance of Bangladesh - average on period

variable 1980-1989 1990-1999 2000-2007 2008-2009 2010-2019 2022 2023 2024 2025 2026
real gdp growth 3.72 4.62 5.64 5.3 6.4 5.8 4.2 3.5 4.7 4.3
CPI % 11.0 6.07 5.88 7.0 6.64 9.0 9.7 10.0 9.2 6.0
Unemployment rate - - - - - - - - - -
Debt/GDP % - - 35.57 31.3 29.58 39.7 41.0 42.0 41.8 43.2
Current account balance/GDP % -2.32 -0.91 0.04 2.0 -0.32 -2.6 -1.4 0.0 -0.6 -1.2

Data derived from World Economic Outlook Database. To see main macroeconomic indicator in graphs click here

History

The huge delta region at the confluence of the Ganges and Brahmaputra River systems -- now referred to as Bangladesh -- was a loosely incorporated outpost of various empires for much of the first millennium A.D. Muslim conversions and settlement in the region began in the 10th century, primarily from Arab and Persian traders and preachers. Europeans established trading posts in the area in the 16th century. Eventually the area known as Bengal, which is primarily Hindu in the western section and mostly Muslim in the eastern half, became part of British India. After the partition of India in 1947, the Muslim-majority area became East Pakistan. Calls for greater autonomy and animosity between the eastern and western areas of Pakistan led to a Bengali independence movement. That movement, led by the Awami League (AL) and supported by India, won the independence war for Bangladesh in 1971. The military overthrew the post-independence AL government in 1975, the first of a series of military coups that resulted in a military-backed government and the subsequent creation of the Bangladesh Nationalist Party (BNP) that took power in 1979. That government also ended in a coup in 1981, followed by military-backed rule until democratic elections were held in 1991. The BNP and AL alternated in power from 1991 to 2008, with the exception of a military-backed, emergency caretaker regime in 2007. The country returned to fully democratic rule in 2008 with the election of the AL and Prime Minister Sheikh HASINA. With the help of international development assistance, Bangladesh is on track to graduate from the UN’s Least Developed Countries (LDC) list in 2026. The economy has grown at an annual average of about 6.25% for the last two decades. Poverty declined from 11.8 percent in 2010 to 5.0 percent in 2022, based on the international poverty line of $2.15 a day (using 2017 Purchasing Power Parity exchange rate). The country made a rapid recovery from the COVID-19 pandemic, but still faces economic challenges.

Environment

Area: 148,460 sq km km2

Climate: tropical; mild winter (October to March); hot, humid summer (March to June); humid, warm rainy monsoon (June to October)

Natural resources: natural gas, arable land, timber, coal

Ethnic characteristics

Groups: Bengali at least 99%, other indigenous ethnic groups 1% (2022 est.)

Languages: Bangla 98.8% (official, also known as Bengali), other 1.2% (2011 est.)

Religions: Muslim 91%, Hindu 8%, other 1% (2022 est.)

Government

Capital: Dhaka

Government type: parliamentary republic

Executive branch

Chief of state: President Mohammad SHAHABUDDIN Chuppi (since 24 April 2023)

Head of government: Interim Prime Minister Muhammad YUNUS (since 8 August 2024)

Legislative branch

Description: -

Economic Overview

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

Industries

cotton, textiles and clothing, jute, tea, paper, cement, fertilizer, sugar, light engineering 

GDP by sector: Agriculture: 11.2% (2024 est.), Industry: 34.1% (2024 est.), Services: 51.4% (2024 est.)

Trade

Export partners: USA 16%, Germany 15%, UK 8%, Spain 7%, Poland 6% (2023)

Export commodities: garments, footwear, fabric, textiles, trunks and cases (2023)

Import partners: China 34%, India 17%, Indonesia 5%, Singapore 5%, Malaysia 4% (2023)

Import commodities: refined petroleum, cotton fabric, natural gas, cotton, fabric (2023)

Geography

Southern Asia, bordering the Bay of Bengal, between Burma and India

Defence

Military expenditure: 2024: 0.9% of GDP (2024 est.)

Information derived from worldfactbook.io (Lupon Media), open successor to the CIA World Factbook. Data sourced from World Bank, IMF, UN and other international organizations.