Overview of the Economic Information Time Series
This article provides an integrated review of monthly time-series data covering Bangladesh's key economic indicators over the 11 months from March 2023 to January 2024. By tracking changes in GDP growth, inflation, exchange rates, foreign exchange reserves, and trade trends, it evaluates the trading environment and market outlook relevant to Korean businesses.
GDP Growth Trend
Bangladesh's GDP growth slowed to 5.8% in FY2023 (July 2022 to June 2023) under the impact of the foreign exchange crisis. This marked a clear decline from 7.1% in FY2022, but growth is expected to rebound to around 6.5% in FY2024 on the back of IMF program implementation and an export recovery.
| Month | CPI (%) | Exchange Rate (Tk/$) | FX Reserves ($B) | Import LCs ($B) |
|---|---|---|---|---|
| 2023.3 | 9.33 | 107.5 | $31.2 | $3.8 |
| 2023.5 | 9.94 | 108.0 | $29.8 | $4.2 |
| 2023.7 | 9.69 | 109.0 | $28.5 | $4.5 |
| 2023.9 | 9.63 | 109.5 | $27.2 | $4.8 |
| 2023.11 | 9.49 | 110.0 | $26.8 | $5.1 |
| 2024.1 | 9.86 | 110.0 | $26.5 | $5.3 |
Inflation Analysis
Throughout the monitoring period, inflation remained elevated in the 9-10% range. The main driver was the reduction of energy subsidies under IMF conditions, while higher food prices significantly weakened the purchasing power of lower-income households.