Bangladesh Economic Outlook
April 16, 2019Advance estimates released by the Bank of Bangladesh suggest the economy accelerated this fiscal year, which ends in June, although Consensus Forecast panelists are still adjusting to this new information. The growth uptick has come from a near-doubling in the expansion of exports of goods and services, which contrasts a significant deceleration in imports. This is corroborated by separate monthly data released by the Central Bank for the July–February period. On the other hand, private and public consumption growth have slowed considerably, as has the expansion in fixed investment. Meanwhile, on 4 April, the World Bank said Bangladesh requires large investments in physical capital, human capital and reforms to better enable innovation to become an upper middle-income country by 2031.
Bangladesh Economic GrowthEconomic growth is should have accelerated this fiscal year on the back of stronger exports and increased remittances. In the following fiscal year, which starts in July, growth will likely edge down, partly due to a high base effect. Moreover, risks of natural disasters, a weak global trade environment and a struggling domestic banking system all cloud prospects through FY 2020. Our panelists expect GDP to expand 7.5% in FY 2019, which is up 0.1 percentage points from last month’s forecast, and 7.3% in FY 2020.
Bangladesh Economy Data
5 years of Bangladesh economic forecasts for more than 30 economic indicators.
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|Exchange Rate||84.30||0.14 %||May 13|
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