Bangladesh Economic Forecast

Bangladesh Economic Outlook

November 14, 2017

The economy appears to have regained momentum after Bangladesh was hit by extensive flooding in August. In October, exports grew 6.4% compared to the same month last year, driven by strong shipments of garments. In addition, remittances—a crucial source of foreign currency for Bangladesh—rebounded from September’s sharp drop and rose 14.9% in October from a year earlier. Efforts by the Central Bank to better track illegal remittance channels from abroad partly explain October’s rise. On 4 November, the World Bank concluded a visit to Bangladesh and reportedly promised financial assistance to support the country’s accommodation of hundreds of thousands of Rohingya refugees from Myanmar, but the exact amount has yet to be determined.

Bangladesh Economic Growth

Despite challenges stemming from the floods and the ongoing accommodation of refugees, the economy should perform resiliently going forward, supported by healthy growth in exports and remittance inflows. FocusEconomics Consensus Forecast panelists expect GDP to expand 6.9% in FY 2018, which is up 0.1 percentage points 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 Rate82.490.14 %Dec 06

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