Bangladesh Economic Forecast

Bangladesh Economic Outlook

March 19, 2019

The economy appears to be faring well in the current fiscal year ending in June, as reflected by the narrowing of the current account deficit in July–January thanks to increased remittance inflows and garment exports. However, on 5 March, the Human Rights Watch called on the government to investigate allegations that thousands of garment industry workers were unfairly dismissed by employers after protesting in December and January over low wages. On the same day, the World Bank approved a USD 185 million loan to Bangladesh to support the development of renewable energy in the country; two days later, the bank sanctioned a USD 165 million grant to help the government provide basic services to refugees from Myanmar.

Bangladesh Economic Growth

Economic growth will moderate this fiscal year, although should remain robust nonetheless. Specifically, growing remittances will likely continue to underpin private consumption, while strong government consumption and investment should buffer growth. That said, risks of natural disasters, a weak global trade environment and a struggling domestic banking system all cloud prospects. Our panelists expect GDP to expand 7.4% in FY 2019, which is unchanged from last month’s forecast, and 7.2% in FY 2020.

Bangladesh Economy Data

Population (million)157158160162163
GDP per capita (USD)9561,0931,2201,3721,545
GDP (USD bn)150173195222252
Economic Growth (GDP, annual variation in %)
Industrial Production (annual variation in %)12.08.711.813.115.3
Fiscal Balance (% of GDP)-3.4-3.1-4.0-3.4-  
Public Debt (% of GDP)35.835.332.432.1-  
Money (annual variation in %)16.716.112.416.410.9
Inflation Rate (CPI, annual variation in %, eop)
Inflation Rate (CPI, annual variation in %)
Exchange Rate (vs USD)77.4177.9278.2079.0582.77
Exchange Rate (vs USD, aop)78.1477.6077.9078.5881.22
Current Account (% of GDP)
Current Account Balance (USD bn)
Trade Balance (USD billion)-10.3-6.8-7.0-6.5-9.5
Exports (USD billion)23.829.830.733.434.0
Imports (USD billion)34.136.637.739.943.5
Exports (annual variation in %)
Imports (annual variation in %)-
International Reserves (USD)18.022.427.932.133.2
External Debt (% of GDP)22.720.619.818.6-  

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Bangladesh Facts

Exchange Rate83.970.14 %Mar 20

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