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Bangladesh
Chamber of Commerce Country Factsheet Last update: 15.05.2017

Your advisors at the Chamber of Commerce

  • Sabrina Aksil
    +352423939374
  • Shi Na
    +352423939364
Contact us: asia@cc.lu

Key Indicators

Area
148,460 km2
Population
168,957,745 (July 2015 est.)
Government type
parliamentary democracy
Languages
Bangla 98.8% (official, also known as Bengali), other 1.2% (2011 est.)
GDP
$577 billion (2015 est.)
Growth rate
6.4% (2015 est.)
HDI
142
Capital
Dhaka

 

Introduction

Muslim conversions and settlement in the region now referred to as Bangladesh began in the 10th century, primarily from Arab and Persian traders and preachers. Europeans began to set up trading posts in the area in the 16th century. Eventually the area known as Bengal, primarily Hindu in the western section and mostly Muslim in the eastern half, became part of British India. Partition in 1947 resulted in an eastern wing of Pakistan in the Muslim-majority area, which became East Pakistan. Calls for greater autonomy and animosity between the eastern and western wings of Pakistan led to a Bengali independence movement. That movement, led by the Awami League (AL) and supported by India, won independence for Bangladesh in a brief war in 1971, during which at least 300,000 civilians died. The post-independence, AL government faced daunting challenges and in 1975 was overthrown by the military, triggering a series of military coups that resulted in a military-backed government and subsequent creation of the Bangladesh Nationalist Party (BNP). That government also ended in a coup in 1981, followed by military-backed rule until democratic elections in 1991. The BNP and AL alternated in power between 1991 and 2013, with the exception of a military-backed, emergency caretaker regime that suspended parliamentary elections planned for January 2007 in an effort to reform the political system and root out corruption. That government returned the country to fully democratic rule in December 2008 with the election of the AL and Prime Minister Sheikh HASINA. In January 2014, the incumbent AL won the national election by an overwhelming majority after the BNP boycotted, extending HASINA's term as prime minister. With the help of international development assistance, Bangladesh has made great progress in food security since independence, and the economy has grown at an average of about 6 percent over the last two decades.

Source:The CIA World Factbook - Bangladesh

 

Macroeconomic indicators

IMF Statistics

Subject Descriptor2007200820092010201120122013
Gross domestic product, constant prices6.3%5.9%5.9%6.3%6.3%6.1%6.4%
Gross domestic product, current prices, $ (Billions)73.984.494.8105.5114.9124.3134.6
Gross domestic product per capita, current prices, $ (Units)468.8527.8584.8641.9689.6735.4785.8
Inflation, average consumer prices9.1%8.9%5.4%8.1%10.1%7.4%6.9%
Volume of imports of goods and services10.2%-0.9%21.4%9.6%9.1%19.1%12.2%
Volume of exports of goods and services13.7%21.5%16.5%16.6%14.1%13.9%13.1%
Current account balance; $ (Billions)0.85.23.12.30.1-0.9-1.1
Current account balance; % of GDP1.1%1.6%3.3%2.2%0.1%-0.7%-0.8%

Source: IMF Statistics - Bangladesh

 

Luxembourg and the country

Existing conventions and agreements

Non double taxation agreement 

In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.

None

Air Services agreement

None

 

Further information

Foreign Trade

The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.

You can see the statistics on the website of the Statec.

Contact points in Bangladesh

Economic and Commercial Attaché (AWEX):                                                             

Jean-Pierre MULLER

50-N Shantipath, Chanakyapuri
New Delhi 110021

Tel: 91-11-42.42.82.00
Fax: 91-11-42.42.82.10
E-mail: newdelhi(at)wallonia.com

Source: http://www.awex.be

Ambassade du Grand-Duché de Luxembourg à New Delhi

M. Sam SCHREINER, Ambassadeur
84, Jor Bagh
New Delhi – 110003
Inde

Tél: (+91-11) 49 98 66 00
Fax: (+91-11) 41 52 52 01
Email: newdelhi.amb(at)mae.etat.lu
Source: MAE

Luxembourg Trade and Investment Office New Delhi

Ambassade du Grand-Duché de Luxembourg à New Delhi

84, Jor Bagh
New Delhi – 110003
India

 

Country risk as defined by Office du Ducroire for Bangladesh

Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.

Link: Ducroire Office - Country Risk for Bangladesh

Other useful links

 

 

 

The Chamber of Commerce and the country

No related events to this country