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DC 20008

      Diplomatic representation from the US:

       chief of mission: Ambassador Harry K. THOMAS, Jr.

       embassy: Madani Avenue, Baridhara, Dhaka 1212

       mailing address: G. P. O. Box 323, Dhaka 1000

       telephone: [880] (2) 885–5500

       FAX: [880] (2) 882–3744

      Flag description:

       green with a large red disk slightly to the hoist side of center;

       the red sun of freedom represents the blood shed to achieve

       independence; the green field symbolizes the lush countryside, and

       secondarily, the traditional color of Islam

      Economy Bangladesh

      Economy - overview:

       Despite sustained domestic and international efforts to improve

       economic and demographic prospects, Bangladesh remains a poor,

       overpopulated, and ill-governed nation. Although half of GDP is

       generated through the service sector, nearly two-thirds of

       Bangladeshis are employed in the agriculture sector, with rice as

       the single-most-important product. Major impediments to growth

       include frequent cyclones and floods, inefficient state-owned

       enterprises, inadequate port facilities, a rapidly growing labor

       force that cannot be absorbed by agriculture, delays in exploiting

       energy resources (natural gas), insufficient power supplies, and

       slow implementation of economic reforms. Economic reform is stalled

       in many instances by political infighting and corruption at all

       levels of government. Progress also has been blocked by opposition

       from the bureaucracy, public sector unions, and other vested

       interest groups. The BNP government, led by Prime Minister Khaleda

       ZIA, has the parliamentary strength to push through needed reforms,

       but the party's political will to do so has been lacking in key

       areas. One encouraging note: growth has been a steady 5% for the

       past several years.

      GDP:

       purchasing power parity - $258.8 billion (2003 est.)

      GDP - real growth rate:

       5.3% (2003 est.)

      GDP - per capita:

       purchasing power parity - $1,900 (2003 est.)

      GDP - composition by sector: agriculture: 21.7% industry: 26.6% services: 51.7% (2003 est.)

      Investment (gross fixed):

       23.2% of GDP (2003)

      Population below poverty line:

       35.6% (FY95/96 est.)

      Household income or consumption by percentage share: lowest 10%: 3.9% highest 10%: 28.6% (1995–96 est.)

      Distribution of family income - Gini index:

       33.6 (FY95/96)

      Inflation rate (consumer prices):

       5.6% (2003 est.)

      Labor force:

       64.02 million

       note: extensive export of labor to Saudi Arabia, Kuwait, UAE, Oman,

       Qatar, and Malaysia; workers' remittances estimated at $1.71 billion

       in 1998–99 (2003)

      Labor force - by occupation:

       agriculture 63%, industry 11%, services 26% (FY95/96)

      Unemployment rate:

       40% (includes underemployment) (2002 est.)

      Budget:

       revenues: $5.352 billion

       expenditures: $7.55 billion, including capital expenditures of NA

       (2003)

      Public debt:

       43.3% of GDP (2003)

      Agriculture - products:

       rice, jute, tea, wheat, sugarcane, potatoes, tobacco, pulses,

       oilseeds, spices, fruit; beef, milk, poultry

      Industries:

       cotton textiles, jute, garments, tea processing, paper newsprint,

       cement, chemical fertilizer, light engineering, sugar

      Industrial production growth rate:

       1.9% (2003 est.)

      Electricity - production:

       15.33 billion kWh (2001)

      Electricity - consumption:

       14.25 billion kWh (2001)

      Electricity - exports:

       0 kWh (2001)

      Electricity - imports:

       0 kWh (2001)

      Oil - production:

       3,581 bbl/day (2001 est.)

      Oil - consumption:

       71,000 bbl/day (2001 est.)

      Oil - exports:

       NA (2001)

      Oil - imports:

       NA (2001)

      Oil - proved reserves:

       28.45 million bbl (1 January 2002)

      Natural gas - production:

       9.9 billion cu m (2001 est.)

      Natural gas - consumption:

       9.9 billion cu m (2001 est.)

      Natural gas - exports:

       0 cu m (2001 est.)

      Natural gas - imports:

       0 cu m (2001 est.)

      Natural gas - proved reserves:

       150.3 billion cu m (1 January 2002)

      Current account balance:

       $393 million (2003)

      Exports:

       $6.713 billion (2003 est.)

      Exports - commodities:

       garments, jute and jute goods, leather, frozen fish and seafood

       (2001)

      Exports - partners:

       US 23.9%, Germany 13.6%, UK 9.7%, France 5.9% (2003)

      Imports:

       $9.459 billion (2003 est.)

      Imports - commodities:

       machinery and equipment, chemicals, iron and steel, textiles,

       foodstuffs, petroleum products, cement (2000)

      Imports - partners:

       India 15.4%, China 11.3%, Singapore 10.8%, Japan 5.9%, Hong Kong

       4.5% (2003)

      Reserves of foreign exchange & gold:

       $2.624 billion (2003)

      Debt - external:

       $18.06 billion (2003)

      Economic aid - recipient:

       $1.575 billion (2000 est.)

      Currency:

       taka (BDT)

      Currency code:

      

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