Country Name: Bangladesh

Capital: Dhaka

Official Visa & Travel Information: Government of The People’s Republic of Bangladesh: Department of Immigration and Passports - Online Application for Bangladesh Machine Readable Visa (MRV) Portal (Visa Services)

Government Type: Parliamentary Republic

Background: The huge delta region formed at the confluence of the Ganges and Brahmaputra River systems - now referred to as Bangladesh - was a loosely incorporated outpost of various empires centered on the Gangetic plain for much of the first millennium A.D. Muslim conversions and settlement in the region began in the 10th century, primarily from Arab and Persian traders and preachers. Europeans established 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 the independence war for Bangladesh in 1971.

The post-independence AL government faced daunting challenges and in 1975 it 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) in 1978. That government also ended in a coup in 1981, followed by military-backed rule until democratic elections occurred in 1991. The BNP and AL have alternated in power since 1991, 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 the election, which extended HASINA's term as prime minister. In December 2018, HASINA secured a third consecutive term (fourth overall) with the AL coalition securing 96% of available seats, amid widespread claims of election irregularities. With the help of international development assistance, Bangladesh has reduced the poverty rate from over half of the population to less than a third, achieved Millennium Development Goals for maternal and child health, and made great progress in food security since independence. The economy has grown at an annual average of about 6% for the last two decades. In 2021 the UN approved a resolution to allow Bangladesh to officially graduate from least-developed-country (LDC) status in 2026, based on World Bank criteria.

Continent: Asia

Population: 167,184,465 (2023 est.)

Ethnic Groups: Bengali at least 98.9%, other indigenous ethnic groups 1.1% (2011 est.)

Languages: Bangla 98.8% (official, also known as Bengali), other 1.2% (2011 est.)

Religions: Muslim 88.4%, other 11.6% (2020 est.)

Economic Overview: One of the fastest growing economies; significant poverty reduction; COVID-19 adversely impacted female labor force participation and undermined previously stable financial conditions; looking to diversify beyond clothing industry; fairly low government debt; new taxation law struggling to increase government revenues.

Currency: Bangladeshi Taka (BDT)

Reserves of Foreign Exchange & Gold: $46.166 billion (31 December 2021 est.)

Real GDP (Purchasing Power Parity): $1.001 trillion (2021 est.); note: data is in 2017 U.S. dollars

Real GDP Growth Rate: 6.94% (2021 est.)

Real GDP per Capita: $5,900 (2021 est.); note: data is in 2017 U.S. dollars

Exports:

• $49.386 billion (2021 est.); note: data is in current year U.S. dollars and does not include illicit exports or re-exports

• Comparison Ranking: 64

Export Commodities: Clothing, knitwear, and leather footwear (2021)

Export Partners: United States 15%, Germany 14%, United Kingdom 8%, Spain 7%, France 7%, Others 48% (2019)

Imports:

• $85.303 billion (2021 est.) note: data is in current year U.S. dollars

• Comparison Ranking: 49

Import Commodities: Refined petroleum, cotton, natural gas, scrap iron, and wheat (2019)

Import Partners: China 31%, India 15%, Singapore 5%, Others 49% (2019)

Natural Resources: Natural gas, arable land, timber, and coal.

Agricultural Products: Rice, potatoes, maize, sugar cane, milk, vegetables, onions, jute, mangoes/guavas, and wheat.

Industries: Jute, cotton, garments, paper, leather, fertilizer, iron and steel, cement, petroleum products, tobacco, pharmaceuticals, ceramics, tea, salt, sugar, edible oils, soap and detergent, fabricated metal products, electricity, and natural gas.

Industrial Production Growth Rate: 

• 10.29% (2021 est.)

• Comparison Ranking: 27

Labor Force: 70.961 million (2021 est.)

Labor Force By Occupation: 

• Agriculture: 42.7%

• Industry: 20.5%

• Services: 36.9% (2016 est.)

Unemployment Rate: 5.23% (2021 est.)

Natural Hazards: Droughts; cyclones; much of the country routinely inundated during the summer monsoon season.

Geography:

• Total: 148,460 sq km

• Land: 130,170 sq km

• Water: 18,290 sq km

(Country Summary, The World Factbook, CIA.gov)

LEGAL, FINANCIAL, & TAX ADVICE DISCLAIMER: The information on SportsLifeMoney’s™ (“SLM”) websites, podcast network, videos, social media accounts, and other platforms (collectively, “SLM Platforms”) is strictly and solely provided for educational and informational purposes only. All of the information and materials on the aforementioned SLM Platforms do not constitute and are not intended to provide legal, financial, accounting, or tax advice, and should not be relied on in that respect. SLM recommends that you consult with an attorney, certified financial advisor, or licensed accountant to answer any legal, financial, or tax questions you may have. SLM also recommends that you consult with an attorney, certified financial advisor, or licensed accountant before making any legal, financial, or tax-related decisions based on content and/or subject matter included and/or discussed on any of the SLM Platforms. Before you act or rely on any information you have heard, read, viewed, and/or listened to on any of the SLM Platforms or communication mediums, SLM recommends that you confirm any and all facts that are important to your decision and that you subsequently consult with an appropriate professional (e.g., attorney, certified financial advisor, certified accountant, etc.) and have them review these facts and also confirm their validity. CAUTION: IF YOU RELY ON ANY INFORMATION, CONTENT, PRODUCT, OR SERVICE FROM ANY OF THE SLM PLATFORMS, YOU DO SO AT YOUR OWN RISK. YOU UNDERSTAND THAT YOU ARE SOLELY RESPONSIBLE FOR ANY AND ALL DAMAGES OR LOSS THAT YOU MAY INCUR THAT RESULTS FROM YOUR USE AND/OR RELIANCE OF ANY OF THE SLM PLATFORMS OR ANY OF THE CONTENT OR MATERIAL OTHERWISE PROVIDED ON ANY OF THESE SLM PLATFORMS. SLM AND ANY AND ALL OF ITS AFFILIATES MAKE NO IMPLIED OR EXPRESS REPRESENTATIONS OR IMPLIED OR EXPRESS WARRANTIES OF ANY KIND REGARDING ANY AND ALL INFORMATION ON ANY OF THE SLM PLATFORMS OR SLM’S AFFILIATE PLATFORMS. SLM AND ITS AFFILIATES WILL NOT BE HELD LIABLE FOR ANY DAMAGES. By continuing to use any of the SLM Platforms, you acknowledge and agree to the aforementioned terms and conditions of this disclaimer and any and all other legally binding terms and conditions set forth in SLM’s Privacy Policy, Terms & Conditions, and other legally binding agreements.