Bangladesh Economic Forecast

Bangladesh Economic Outlook

January 23, 2018

The economy showed resilience last year despite facing significant challenges including country-wide flooding in August, which took a heavy toll on infrastructure and crop development, and the accommodation of hundreds of thousands of Rohingya refugees. On 16 January, the governments of Bangladesh and Myanmar put a two-year time frame on the refugee repatriation process, set to begin by 23 January—however, the UN raised human rights concerns associated with this process. Meanwhile, although strong year-on-year export growth was recorded in the period July-to-November, a surge in imports led to a deterioration in the trade balance. And, although worker remittance inflows were strong in December, there was a decrease in 2017 overall compared to 2016.

Bangladesh Economic Growth

Despite difficulties caused by flooding last year and the ongoing accommodation of refugees, the economy is expected to perform well this year, supported by growth in exports and remittance inflows. FocusEconomics panelists expect GDP to expand 6.9% in FY 2018, which is unchanged from last month’s forecast. In FY 2019, they expect GDP to again rise 6.9%.

Bangladesh Economy Data

20122013201420152016
Population (million)155157158160162
GDP per capita (USD)8639561,0931,2201,369
GDP (USD bn)133150173195221
Economic Growth (GDP, annual variation in %)6.56.06.16.67.1
Industrial Production (annual variation in %)8.212.08.711.813.1
Fiscal Balance (% of GDP)-3.0-3.4-3.1-3.9-3.4
Public Debt (% of GDP)33.834.533.933.933.1
Money (annual variation in %)17.416.716.112.416.4
Inflation Rate (CPI, annual variation in %, eop)7.17.46.16.15.5
Inflation Rate (CPI, annual variation in %)6.27.57.06.25.9
Exchange Rate (vs USD)79.8077.4177.9278.2079.05
Exchange Rate (vs USD, aop)81.9778.1477.6077.9078.58
Current Account (% of GDP)0.31.60.81.51.7
Current Account Balance (USD bn)0.42.41.42.93.7
Trade Balance (USD billion)-12.7-10.3-6.8-7.0-6.3
Exports (USD billion)22.823.829.830.733.4
Imports (USD billion)35.534.136.637.739.7
Exports (annual variation in %)8.44.025.33.18.9
Imports (annual variation in %)27.0-4.07.33.05.5
International Reserves (USD)12.718.022.127.932.1
External Debt (% of GDP)21.422.720.619.8-  

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Bangladesh Facts

ValueChangeDate
Exchange Rate83.000.14 %Feb 19

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