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    Kinh Te 2013-2014

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    Olivia Tran
    The economy of Bangladesh grew at 6.0% in fiscal year 2013, higher than projected. While exports grew briskly, imports were flat, contributing significantly to economic growth. However, agriculture growth slowed to 2.2% due to unfavorable weather and falling rice prices. Industry grew strongly at 9.0% due to expansion in construction and manufacturing. Services growth also slowed to 5.7% because of disruptions from strikes. Inflation edged up but ended the year at 7.7%, lower than the previous year, as food supplies were disrupted by strikes. Exports grew by 10.7% while imports rose only slightly. GDP growth in fiscal year 2014 is projected to be lower at 5.8

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    Kinh Te 2013-2014

    Uploaded by

    Olivia Tran
    7 views2 pages
    The economy of Bangladesh grew at 6.0% in fiscal year 2013, higher than projected. While exports grew briskly, imports were flat, contributing significantly to economic growth. However, agriculture growth slowed to 2.2% due to unfavorable weather and falling rice prices. Industry grew strongly at 9.0% due to expansion in construction and manufacturing. Services growth also slowed to 5.7% because of disruptions from strikes. Inflation edged up but ended the year at 7.7%, lower than the previous year, as food supplies were disrupted by strikes. Exports grew by 10.7% while imports rose only slightly. GDP growth in fiscal year 2014 is projected to be lower at 5.8

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    The economy of Bangladesh grew at 6.0% in fiscal year 2013, higher than projected. While exports grew briskly, imports were flat, contributing significantly to economic growth. However, agriculture growth slowed to 2.2% due to unfavorable weather and falling rice prices. Industry grew strongly at 9.0% due to expansion in construction and manufacturing. Services growth also slowed to 5.7% because of disruptions from strikes. Inflation edged up but ended the year at 7.7%, lower than the previous year, as food supplies were disrupted by strikes. Exports grew by 10.7% while imports rose only slightly. GDP growth in fiscal year 2014 is projected to be lower at 5.8

    Copyright:

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    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    7 views2 pages

    Kinh Te 2013-2014

    Uploaded by

    Olivia Tran
    The economy of Bangladesh grew at 6.0% in fiscal year 2013, higher than projected. While exports grew briskly, imports were flat, contributing significantly to economic growth. However, agriculture growth slowed to 2.2% due to unfavorable weather and falling rice prices. Industry grew strongly at 9.0% due to expansion in construction and manufacturing. Services growth also slowed to 5.7% because of disruptions from strikes. Inflation edged up but ended the year at 7.7%, lower than the previous year, as food supplies were disrupted by strikes. Exports grew by 10.7% while imports rose only slightly. GDP growth in fiscal year 2014 is projected to be lower at 5.8

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    Economy

    In Bangladesh, the gross domestic product (GDP) in Fiscal Year 2013 (ended 30 June 2013) grew by 6.0%, higher than projected in the Asian Development Outlook (ADO) 2013 in April. Export growth accelerated briskly, but imports were flat, such that net exports markedly contributed to growth. Agriculture growth slowed to 2.2% because weather was unfavorable and rice prices fell. Industry grew by 9.0%, with strong expansion in construction and small-scale manufacturing. Services growth slowed slightly to 5.7%, reflecting stagnant imports and politically inspired strikes that disrupted trade.

    Selected Economic Indicators (%) Bangladesh ADO 2013 GDP Growth Inflation Current Account Balance (share of GDP)
    Source:

    2013 Update ADO 2013 5.7 7.8 2.0 6.0 7.7 1.9

    2014 Update

    6.0 7.0 1.0

    5.8 7.5 -0.5

    Asian Development Outlook (ADO) 2013 Update; ADB estimates.

    Year-on-year inflation edged up from 7.2% in October 2012 to 8.0% in June 2013, as national strikes disrupted food supply and drove up prices, and as administered power and fuel prices were increased. Inflation slowed to 7.7% in FY2013 from 10.6% a year earlier. Imports rose by only 0.8% in FY2013. Exports grew by 10.7%, accelerating from 6.2% growth in FY2012, on higher garment exports. The balance of payments showed a large surplus of $5.1 billion in FY2013, boosting gross international reserves to $15.1 billion. Following the tragic garment factory collapse in April 2013, comprehensive protocols were signed to foster worker safety and welfare. Money supply growth was below the central banks program target, even as banks net foreign assets rose sharply. The reason was growth in credit to the private sector languishing far below target as political uncertainty deterred investment. The Bangladesh taka has strengthened against the US dollar since early 2013, reflecting the large balance of payments surplus.

    GDP growth in FY2014 is projected at 5.8%, lower than the ADO 2013 forecast, as exports and consumer and investment demand fall short of expectations. The current account will show a small deficit. The central bank is expected to adopt measures to contain inflation but also ensure adequate credit flows to maintain steady economic growth. The key challenges are to boost private investment and maintain macroeconomic stability in the run-up to elections. Source: ADB. 2013. Asian Development Outlook 2013 Update. Manila.

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