Diplomatic representation in the US: chief of mission: Ambassador-designate Khwaja Mohammad SHEHABUDDIN chancery: 2201 Wisconsin Avenue NW, Washington, DC 20007 telephone : [1] (202) 342-8372 through 8376 consulate(s) general: Los Angeles and New York
Diplomatic representation from the US: chief of mission: Ambassador David N. MERRILL embassy: Diplomatic Enclave, Madani Avenue, Baridhara, Dhaka 1212 mailing address : G.P.O. Box 323, Dhaka 1000 telephone: [880] (2) 884700 through 884722 FAX: [880] (2) 883-744
Flag description: green with a large red disk slightly to the hoist side of center; green is the traditional color of Islam
Economy
Economy - 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 largely 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 slow implementation of economic reforms. Frequent strikes that crippled the economy in 1995 and early 1996 subsided after Prime Minister Sheikh Hasina WAJED's Awami League government assumed power in mid-1996, allowing a return to normal economic activity. The current government has made some headway improving the climate for foreign investors and liberalizing the capital markets; for example, it has negotiated with foreign firms for oil and gas exploration, better countrywide distribution of cooking gas, and the construction of natural gas pipelines and power plants. Progress on other economic reforms has been halting because of opposition from the bureaucracy, public sector unions, and other vested interest groups.
GDP: purchasing power parity - $155.1 billion (1996 est.)
GDP - real growth rate: 4.7% (1996)
GDP - per capita: purchasing power parity - $1,260 (1996 est.)
GDP - composition by sector: agriculture: 31% industry: 18% services: 51% (1995 est.)
Inflation rate - consumer price index: 4% (FY95/96)