US diplomatic representation: chief of mission: Ambassador David N. MERRILL embassy: Diplomatic Enclave, Madani Avenue, Baridhara, Dhaka mailing address: G.P.O. Box 323, Dhaka 1000; Dhaka 1212 telephone: [880] (2) 884700 through 884722 FAX: [880] (2) 883-744
Flag: green with a large red disk slightly to the hoist side of
center; green is the traditional color of Islam
Economy ———-
Economic overview: Despite sustained domestic and international efforts to improve economic and demographic prospects, Bangladesh remains one of the world's poorest, most densely populated, and least developed nations. Annual GDP growth has averaged over 4% in recent years from a low base. Its economy is overwhelmingly agricultural, with the cultivation of rice the single most important activity in the economy. Major impediments to growth include frequent cyclones and floods, the inefficiency of state-owned enterprises, a rapidly growing labor force that cannot be absorbed by agriculture, delays in exploiting energy resources (natural gas), inadequate power supplies, and, most recently, political disturbances. In 1995, progress on Bangladesh's development agenda has been slowed by frequent political unrest before and after national elections in early 1996. Opposition parties have challenged the government's authority by resigning from Parliament and sponsoring numerous countrywide strikes that have crippled transport, hindered business activity, and threatened to slow economic growth in 1996.
GDP: purchasing power parity - $144.5 billion (1995 est.)
GDP real growth rate: 4.6% (1995 est.)
GDP per capita: $1,130 (1995 est.)
GDP composition by sector: agriculture: NA% industry: NA% services: NA%
Inflation rate (consumer prices): 4.5% (1995 est.)
Labor force: 50.1 million
by occupation: agriculture 65%, services 21%, industry and mining
14% (1989)
note: extensive export of labor to Saudi Arabia, UAE, and Oman (1991)