Bangladesh Facts and Figures

Location and Milestones
Bangladesh, located in South Asia, shares borders with India to the west, north, and east, Myanmar to the southeast, and the Bay of Bengal to the south. Dhaka, the capital, is a hub of political and economic activity, alongside major cities like Chittagong and Khulna. The country has played a significant role on the global stage through its membership in key international organizations such as the United Nations, World Trade Organization (WTO), and the Commonwealth of Nations, contributing actively to international diplomacy and development efforts.

Historical and Transformative Events
Bangladesh's history is defined by transformative events that have shaped its socio-economic landscape. The War of Independence in 1971, leading to the separation from Pakistan, stands as a watershed moment. This conflict, marked by humanitarian challenges and geopolitical shifts, established Bangladesh as an independent nation. Subsequently, the country navigated political transitions, culminating in the adoption of democratic governance in the early 1990s.

Economically, Bangladesh experienced a notable transformation driven by its textile and garment industry, becoming a global leader in textile exports. This sector has been pivotal in driving economic growth, generating employment opportunities, and reducing poverty levels. The country's economic resurgence has fostered urban development, infrastructure improvements, and strengthened international trade relations. This evolution underscores Bangladesh's journey from independence to economic prominence, positioning it as a dynamic player in the global economy.


Demographics Overview
Bangladesh stands out with a population exceeding 172,954,319 in 2023 and a population growth rate of 1%. The country has a high population density of 1,301 people per square kilometer (2021). The working-age population constitutes 68% (2022), indicating a robust labor force potential. The median age of 27 years (2024) highlights a youthful demographic, suggesting opportunities for workforce development and education initiatives. The fertility rate of 2.0 (2022) reflects a stable population growth trajectory, supported by healthcare improvements, contributing to a life expectancy of 74 years (2022). The crude death rate stands at 5.3 per 1,000 persons (2022), with an infant mortality rate of 24.1 per 1,000 live births (2022), indicating ongoing health challenges despite advancements. Urbanization, at 40.5% (2023), continues to reshape regional dynamics and infrastructure needs.

Economic Landscape
Bangladesh's economy demonstrates resilience and growth, with a GDP totaling $437.4 billion in 2023, ranking 32nd globally. The country experienced a robust GDP growth rate of 5.8% in 2023, while managing inflation rates at 9% in 2023 and 9.3% in 2024. Market research in Bangladesh reveals a trade balance deficit of $11.1 billion, with imports totaling $66.9 billion and exports at $55.8 billion in 2023, reflecting challenges in achieving a balanced trade position. Unemployment stood at 5.2% in 2022, indicating a stable labor market amidst economic fluctuations. The economy is diversified, with agriculture contributing 11.2%, industry 33.9%, and services 51% to GDP in 2022. Manufacturing, which constitutes 21.8% of GDP, remains a crucial sector for economic development and investment opportunities. Understanding these economic indicators is essential for businesses looking to navigate and capitalize on market opportunities in Bangladesh.

Fiscal Overview
Bangladesh's public finance reflects its economic strategies and international support. In 2022, the country received Net Official Development Assistance (ODA) equivalent to 1.1% of Gross National Income (GNI), indicating substantial international aid. The net lending/borrowing balance showed a deficit of -4.09% of GDP in 2022, which widened to -4.63% in 2023, highlighting increased government expenditure or decreased revenues. Central government debt rose to 39.09% of GDP in 2022, up from 29.08% in 2012, illustrating growing fiscal challenges.

Military Overview
Bangladesh's military strength includes 157,000 personnel as of 2016, representing 9.6% of the total population. Military spending in 2022 was 1.1% of GDP, slightly lower than 1.2% in 2021, indicating a modest reduction in defense budget allocation. The data shows a consistent commitment to maintaining a robust defense force. The increase in central government debt over the years may impact future military funding. This dynamic requires balancing defense needs with economic constraints, highlighting the importance of strategic planning in defense and budget management.

Bangladesh presents a dynamic profile with its growing economy, youthful demographics, expanding digital usage, and a strong military presence. These facets underline the country's potential for development and investment. Partnering with a market research agency in Bangladesh can provide valuable insights, helping businesses and investors navigate this complex landscape. Comprehensive market research in Bangladesh can guide strategies, ensuring alignment with its unique economic, demographic, and digital trends, and leveraging opportunities in this evolving market.