mailing address: G. P. O. Box 323, Dhaka 1000
telephone: [880] (2) 8824700 through 8824722
FAX: [880] (2) 8823744
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
Bangladesh 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. Although more than 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. Reform is stalled in many instances by political infighting and corruption at all levels of government. Even so, Prime Minister Sheikh HASINA's Awami League government has made some headway improving the climate for foreign investors and liberalizing the capital markets. 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 - $203 billion (2000 est.)
GDP - real growth rate: 5.3% (2000 est.)
GDP - per capita: purchasing power parity - $1,570 (2000 est.)
GDP - composition by sector: agriculture: 30%