Macro updates:

Economic Growth

 Pre-pandemic GDP growth (FY 2018-19): 7.88%

 Pandemic impact (FY 2019-20): GDP growth fell to 3.45%
 Recovery in FY 2020-21: GDP growth at 6.94%
 FY 2021-22 GDP growth: 7.10%
 Impact of Russia-Ukraine crisis: FY 2022-23 GDP growth expected to be 6.03%
Source: Ministry Of Finance

Gross Domestic Product (GDP) at Current Prices (FY 2022-23)

 GDP: Tk. 44,39,273 crore (US$ 454 Billion)

 Growth: 11.77% compared to the previous fiscal year
 Per capita GDP: Tk. 2,59,919
 Per capita national income: Tk. 2,70,414
 Per capita GDP in USD (FY 2022-23): US$ 2,657
 Per capita GNI in USD (FY 2022-23): US$ 2,765
 Previous fiscal year per capita GDP in USD: US$ 2,687
 Previous fiscal year per capita GNI in USD: US$ 2,793
 For more details, refer to Table 2.1 for GDP, GNI, per capita GDP, and national income
from FY2015-16 to FY 2022-23.
Source: Ministry Of Finance

Total Revenue
 Total revenue collection in FY23: 8.26% of GDP and 84.5% of the revised budget target.
 Up to September 2023, total revenue collection increased by 18.4% compared to the
corresponding period of FY22, achieving 19.1% of the annual target.
 Estimated total revenue in FY24: 10.08% of GDP.
 FY24 total revenue estimate is 15.5% higher than the revised budget estimate of FY23.
 FY24 total revenue estimate is 36.4% higher than the actual revenue collection in FY23.
Source: Ministry Of Finance
 (in corer taka) Tax Revenue NBR Non-NBR | Total Revenue
FY23 (Actual) 327,684 319,701 7,983 366,583
FY24 (Sept 77,774 75,809 17,735 95,509
Actual)
Source: Ministry Of Finance

Exports

● Dec '23 export receipts: US$ 5308.09 million Decrease by US$ 57.10 million from Dec
'22: (1.06%)
● Jul'23-Dec'23 export receipts increased: US$ 229.11 million (0.84%) compared to the
same period last year.
● Export for 2022-23: 55,558.77 million
● Export Performance July-Jan. 2023-24: 33,264.71 million
● Export Performance July-Jan. 2022-23: 32,447.50 million
● % Change in export performance July-Jan. 2024 over July-Jan. 2023: 2.52%

Source: Bangladesh Bank

Imports

● Nov'23 import payments: US$ 5666.6 million, Decrease from Nov'22: US$ 218.6
million (3.71%)
● Jul'23-Nov'23 import payments US$ 6745.3 million decreased by (20.29%) compared to
the same period last year

Source: Bangladesh Bank

Foreign Exchange Reserves

● End of Dec '23 reserves: US$ 27130.0 million

● End of Jun'23 reserves: US$ 31203.0 million
● Decrease: US$ 4073.0 million (13.05%) from Jun'23 to Dec '23
Point to Point:
 ● End of January 2024: US$ 25111.9 million.
● End of January 2023: US$ 32222.6 million
● Decrease: US$ 7110.7 million (around 22%) from Jan 2023 to Dec 2023.

Source: Bangladesh Bank

Foreign Direct Investment (FDI):

● Jul-Sep'23 FDI inflows: US$ 670.21 million

● Decrease from Apr-Jun'23: US$ 94.49 million (12.36%)
● FY 2022-23 FDI inflows: US$ 3195.16 million
● Decrease from FY 2021-22: US$ 244.47 million (7.11%).

Source: Bangladesh Bank

Inflation

● Dec'23 Inflation rate (12-month average): 9.48%

● Dec'22 Inflation rate (12-month average): 7.70%
● Dec'23 Inflation rate (point-to-point basis): 9.41%
● Dec'22 Inflation rate (point-to-point basis): 8.71%

Source: Bangladesh Bank

Domestic Credit

● Nov'23 domestic credit: Tk. 19,57,595.9 crore

● Increase from Oct'23: Tk. 13,161.9 crore (0.68%)
● Nov'23 domestic credit increased by Tk. 212,222.0 crore (12.16%) over Nov '22.
● Mainly due to an increase in credit to the private sector by Tk. 139226.7 crore (9.90%)

Private Sector Credit Growth

 ● Public sector credit growth narrowed to 19.34 percent in December 2023 from 24.80
percent in December 2022.
● Private sector credit growth was 10.13 percent (y-o-y) in December 2023 compared to
12.89 percent in December 2022.

Source: Bangladesh Bank

Bangladesh-US$ exchange rate

 In FY23, the rate of the Bangladesh Taka (BDT) against the US Dollar (USD)
reflecting a depreciation of 13.8 percent. Subsequently, in July-December 2023, the
BDT experienced an additional depreciation of 1.49 percent against the USD,
reaching Tk. 110.00/USD at the end of December 2023 from Tk.108.36/USD at the
end of June 2023.

Source: Bangladesh Bank

BALANCE OF PAYMENTS

The current account surplus became US$ 892 million compared to a deficit of US$ -3678
million for the same period of the previous fiscal year. But due to negative growth in the
financial account the overall deficit stood at US$ 2.8 billion at the end of September FY24
compared to a 3.3 billion US$ deficit in the same time of the previous year.

Source: Bangladesh Bank

NPL

 Classified loans in the banking sector showed an annual bulge by around 21 per cent
to Tk 1.46 trillion in 2023, until a downturn towards the yearend under regulatory
push. However, at the end of 2022, the figure of non-performing loans (NPLs) in
banks was recorded Tk 1.21 trillion.
 In terms of quarterly analysis for July-September to October-December period, the
amount of NPLs dropped by Tk 97.65 billion in three months till December 2023,
Source: https://today.thefinancialexpress.com.bd/first-page/banks-non-performing-loans-soar-to-
tk-146t-1707759241#:~:text=In%20comparison%20with%20the%20NPLs,as%20on
%20September%2030%2C%202023.

Investment in the private sector is estimated at Tk 969,981 crore in the current financial year.
https://businesspostbd.com/front/tk423406cr-required-to-hit-target-in-fy24-2023-06-07