Bangladesh-
Bangladesh's economy has grown roughly 6% per year since 1996 despite political instability, poor infrastructure, corruption, insufficient power supplies, slow implementation of economic reforms, and the 2008-09 global financial crisis and recession. Although more than half of GDP is generated through the service sector, almost half of Bangladeshis are employed in the agriculture sector with rice as the single-most-important product. Garment exports, the backbone of Bangladesh’s industrial sector and 80% of total exports, surpassed $21 billion last year, 18% of GDP. The sector has remained resilient in recent years amidst a series of factory accidents that have killed over 1,000 workers and crippling strikes that shut down virtually all economic activity. Steady garment export growth combined with remittances from overseas Bangladeshis, which totaled almost $15 billion and 13% of GDP IN 2013, are the largest contributors to Bangladesh’s current account surplus and record foreign exchange holdings.
Burma-
Since the transition to a civilian government in 2011, Burma has begun an economic overhaul aimed at attracting foreign investment and reintegrating into the global economy. Economic reforms have included establishing a managed float of the Burmese kyat in 2012, granting the Central Bank operational independence in July 2013, and enacting a new Anti-corruption Law in September 2013. The government’s commitment to reform, and the subsequent easing of most Western sanctions, has begun to pay dividends. The economy accelerated in 2012 and 2013. And Burma’s abundant natural resources, young labor force, and proximity to Asia’s dynamic economies have attracted foreign investment in the energy sector, garment industry, information technology, and food and beverages. Foreign direct investment grew from US$1.9 billion in FY 2011 to US$2.7 billion in FY 2012. Despite these improvements, living standards have not improved for the majority of the people residing in rural areas. Burma remains one of the poorest countries in Asia - more than one-fourth of the country’s 60 million people live in poverty. The previous government’s isolationist policies and economic mismanagement have left Burma with poor infrastructure, endemic corruption, underdeveloped human resources, and inadequate access to capital, which will require a major commitment to reverse. The Burmese government has been slow to address impediments to economic development such as an opaque revenue collection system and antiquated banking system. Key benchmarks of sustained economic progress would include modernizing and opening the financial sector, increasing budget allocations for social services, and accelerating agricultural and land reforms.
GDP (purchasing power parity) $324.6 billion (2013 est.)
$307 billion (2012 est.)
$289.2 billion (2011 est.)
note: data are in 2013 US dollars $111.1 billion (2013 est.)
$104 billion (2012 est.)
$97.81 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate 5.8% (2013 est.)
6.1% (2012 est.)
6.5% (2011 est.) 6.8% (2013 est.)
6.4% (2012 est.)
5.9% (2011 est.)
GDP - per capita (PPP) $2,100 (2013 est.)
$2,000 (2012 est.)
$1,900 (2011 est.)
note: data are in 2013 US dollars $1,700 (2013 est.)
$1,600 (2012 est.)
$1,600 (2011 est.)
note: data are in 2013 US dollars
GDP - composition by sector agriculture: 17.2%
industry: 28.9%
services: 53.9% (2013 est.) agriculture: 38%
industry: 20.3%
services: 41.7% (2013 est.)
Population below poverty line 31.5% (2010 est.) 32.7% (2007 est.)
Household income or consumption by percentage share lowest 10%: 4%
highest 10%: 27% (2010 est.) lowest 10%: 2.8%
highest 10%: 32.4% (1998)
Inflation rate (consumer prices) 7.6% (2013 est.)
6.6% (2012 est.) 5.7% (2013 est.)
1.5% (2012 est.)
Labor force 78.62 million
note: extensive export of labor to Saudi Arabia, Kuwait, UAE, Oman, Qatar, and Malaysia; workers' remittances were $10.9 billion in FY09/10 (2013 est.) 34.31 million (2013 est.)
Labor force - by occupation agriculture: 47%
industry: 13%
services: 40% (2010 est.) agriculture: 70%
industry: 7%
services: 23% (2001)
Unemployment rate 5% (2013 est.)
5% (2012 est.)
note: about 40% of the population is underemployed; many persons counted as employed work only a few hours a week and at low wages 5.2% (2013 est.)
5.4% (2012 est.)
Budget revenues: $17.19 billion
expenditures: $24.02 billion (2013 est.) revenues: $2.413 billion
expenditures: $4.443 billion (2013 est.)
Industries jute, cotton, garments, paper, leather, fertilizer, iron and steel, cement, petroleum products, tobacco, pharmaceuticals, ceramics, tea, salt, sugar, edible oils, soap and detergent, fabricated metal products, electricity, natural gas agricultural processing; wood and wood products; copper, tin, tungsten, iron; cement, construction materials; pharmaceuticals; fertilizer; oil and natural gas; garments, jade, gems
Industrial production growth rate 9% (2013 est.) 11.4% (2013 est.)
Agriculture - products rice, jute, tea, wheat, sugarcane, potatoes, tobacco, pulses, oilseeds, spices, fruit; beef, milk, poultry rice, pulses, beans, sesame, groundnuts, sugarcane; fish and fish products; hardwood
Exports $26.91 billion (2013 est.)
$24.92 billion (2012 est.) $9.043 billion (2013 est.)
$7.82 billion (2012 est.)
note: official export figures are grossly underestimated due to the value of timber, gems, narcotics, rice, and other products smuggled to Thailand, China, and Bangladesh
Exports - commodities garments, knitwear, agricultural products, frozen food (fish and seafood), jute and jute goods, leather natural gas, wood products, pulses, beans, fish, rice, clothing, jade and gems
Exports - partners US 18.7%, Germany 15.8%, UK 10.2%, France 6.2%, Spain 4.6%, Canada 4.3%, Italy 4% (2013 est.) Thailand 40.7%, India 14.8%, China 14.3%, Japan 7.4% (2012)
Imports $32.94 billion (2013 est.)
$32.29 billion (2012 est.) $10.11 billion (2013 est.)
$7.998 billion (2012 est.)
note: import figures are grossly underestimated due to the value of consumer goods, diesel fuel, and other products smuggled in from Thailand, China, Malaysia, and India
Imports - commodities machinery and equipment, chemicals, iron and steel, textiles, foodstuffs, petroleum products, cement fabric, petroleum products, fertilizer, plastics, machinery, transport equipment; cement, construction materials, crude oil; food products, edible oil
Imports - partners China 21.7%, India 16.3%, Malaysia 5.2%, Republic of Korea 4.5%, Japan 4.1% (2013 est.) China 36.9%, Thailand 20.2%, Singapore 8.7%, South Korea 8.7%, Japan 8.2%, Malaysia 4.6% (2012)
Debt - external $30.69 billion (31 December 2013 est.)
$29.53 billion (31 December 2012 est.) $5.379 billion (31 December 2013 est.)
$5.591 billion (31 December 2012 est.)
Exchange rates taka (BDT) per US dollar -
78.19 (2013 est.)
81.863 (2012 est.)
69.649 (2010 est.)
69.04 (2009)
68.554 (2008) kyats (MMK) per US dollar -
947.9 (2013 est.)
853.48 (2012 est.)
5.58 (2010 est.)
1,055 (2009)
1,205 (2008)
Fiscal year 1 July - 30 June 1 April - 31 March
Reserves of foreign exchange and gold $15.74 billion (31 December 2013 est.)
$12.75 billion (31 December 2012 est.) $8.278 billion (31 December 2013 est.)
$6.977 billion (31 December 2012 est.)
Current Account Balance $3.541 billion (2013 est.)
$1.754 billion (2012 est.) -$2.596 billion (2013 est.)
-$1.791 billion (2012 est.)
GDP (official exchange rate) $140.2 billion (2013 est.) $59.43 billion (2013 est.)
Market value of publicly traded shares $NA (February 2014 est.)
$17.48 billion (31 December 2012)
$23.55 billion (31 December 2011 est.) $NA
Central bank discount rate 5% (31 December 2010 est.)
5% (31 December 2009 est.) 9.95% (31 December 2010 est.)
12% (31 December 2009 est.)
Commercial bank prime lending rate 13% (31 December 2013 est.)
13% (31 December 2012 est.) 13% (31 December 2013 est.)
13% (31 December 2012 est.)
Stock of domestic credit $93.38 billion (31 December 2013 est.)
$79.32 billion (31 December 2012 est.) $14.43 billion (31 December 2013 est.)
$13.51 billion (31 December 2012 est.)
Stock of narrow money $17.11 billion (31 December 2013 est.)
$14.85 billion (31 December 2012 est.) $12.23 billion (31 December 2013 est.)
$11.54 billion (31 December 2012 est.)
Taxes and other revenues 12.3% of GDP (2013 est.) 4.1% of GDP (2013 est.)
Budget surplus (+) or deficit (-) -4.9% of GDP (2013 est.) -3.4% of GDP (2013 est.)
GDP - composition, by end use household consumption: 75.3%
government consumption: 5.7%
investment in fixed capital: 25.6%
investment in inventories: 3.6%
exports of goods and services: 24.5%
imports of goods and services: -34.7%
(2013 est.) household consumption: 80.6%
government consumption: 3.8%
investment in fixed capital: 17.5%
investment in inventories: 0.3%
exports of goods and services: 20.1%
imports of goods and services: -22.3%
(2013 est.)
Gross national saving 28.3% of GDP (2013 est.)
27% of GDP (2012 est.)
25% of GDP (2011 est.) 11.9% of GDP (2013 est.)
12.9% of GDP (2012 est.)
13.7% of GDP (2011 est.