BangladeshNext
Country Profile:

Bangladesh-Undiscovered Gem of ASIA

 
Official Name : The People’s Republic of Bangladesh.
Location & Borders : South Asia (20034'-260 38' N Lat.880 01-920 42' E Long.). Bordered by India on the east, west and north and by the Bay of Bengal on the south and a small border strip with Myanmar on the south-east .
Government : Parliamentary form of Government, headed by the Prime Minister.
Area / Land : 147,570 square km/mostly alluvial fertile plain.
Climate/ Seasons : Summer, Monsoon, Autumn, Late-Autumn, Winter & Spring
Temperature : Varies between 11°C to 29°C in Winter and 21°C to 34°C in Summer.
Annual Rainfall : Varies from 160 cm to 400 cm at different areas.
Humidity : Highest 99% during peak Summer in July, lowest 36% in Winter in December-January.
Standard Time : GMT + 6 hours.
Population / Literacy : 160 million / 62.66%
Official Language : Bangla. English is generally understood and used as a second language.
Capital : Dhaka. Other major cities are Chittagong, Khulna, Sylhet, Rajshahi & Barisal.
Int. Airports : Dhaka, Chittagong and Sylhet.
Sea Ports : Chittagong and Mongla.
Currency/exch. Rate : Taka (Tk.) US$ 1 = Tk. 79.00, Euro 1 = Tk. 100.55
Banking hour : Sunday – Thursday (9am – 3 pm).
GDP/Rate of growth : US$ 68.14 billion/6.51 % (2006-2007)
Annual export : US$ 14.11 billion (2007-2008)
Annual import (cif) : US$ 21.63 billion (2007-2008)
Major export items : Ready-made garment, knitwear, Frozen food (shrimp), Leather & Leather products, Software & IT Services, Jute & Jute products Agro-based Products, Tea, Ceramics, Textile fabrics, Home textile, Chemical products, Light engineering products including Bicycle, Handicrafts etc .
Major import items : Oil, Edible oil, Petroleum products, Wheat, Seeds, Fertilizer, Yarn, Capital machinery, Power generating machinery, Scientific & Medical equipment, Iron & Steel, Motor vehicles, Raw cotton, Chemicals etc.
Major trading partners : USA, EU countries, China, India, Pakistan, Japan, South Korea, Canada, Australia, Malaysia, Hong Kong, Taiwan, Thailand, Indonesia, Saudi Arabia, UAE

Economy:
  2009 2010 2011 2012
GDP (million USD, at market prices) 89,359 100,075 282,229 300,065
Real GDP growth (%) 5.74 5.83 6.7 6.32
Real industrial production growth (%) 6.90 6.50 6.40 7.4
Per capita GDP (USD, at market prices) 620 687 748 772
Export (million USD) 17,048 22,928 23,860 24,287
Import (million USD) 23,074 29,075 33,657 35,441
Foreign exchange reserves (million USD) 10,340 10,790 10,911 10,364
Current account balance (million USD) 3,345 3,734 885 1,704
Consumer Price Index inflation (Base: FY96=100) 5.40 8.10 10.7 10.6
Exchange rate (Taka/Dollar) 70.13 70.82 73.70 81.0
Outstanding foreign debt (% of GDP) 32.6 30.5 30.0 29.1


Education:
Literacy rate (%) 62.66
Youth literacy rate (% aged 15-24), 2004-2008 74.5
Net primary enrolment rate (%), 2005-2009 85.5
Net secondary enrolment rate (%), 2005-2009 41.5
Tertiary students in science, engineering, manufacturing and construction (% of tertiary students), 1999-2005 20
No. of total enrolled students at Tertiary level (Colleges & Universities) 1.2 million
No. of graduates passing out every year 0.25 million
No. of Colleges and Universities 1,500
Public expenditure on education (% of total government expenditure), 2002-05 14.2

Why Outsource IT to Bangladesh?

  • With a tens of thousands of young IT skilled workforce conversant in English, Bangladesh is one of Asia’s most attractive IT outsourcing destinations after India – particularly for clients in the USA and other Anglophone countries.
     
  • A good number of IT companies in Bangladesh have already built successful track records of working for reputed clients all over the world. Currently around 150 IT companies in Bangladesh are exporting to over 30 countries. Out of these IT companies, nearly two-thirds service clients in USA.
     
  • Bangladesh has been enlisted in the Gartner's report as one of the top 30 IT Outsourcing Destination.
     
  • Bangladesh offers significant cost advantages for IT outsourcing - both in terms of worker-wages as well as cost of infrastructure.
     
  • Salary of programmers in Bangladesh are less than India, Philippines, Vietnam and Eastern European Countries.
  • Charges for Internet bandwidth in Bangladesh is currently the lowest in South Asia (50% of that in India)
  • Rent for office space in Dhaka (Capital) is below 20% of that in Delhi and 40% of Manila.