Remittances from Bangladeshis working overseas, mainly in the Middle East, is the major source of foreign exchange earnings; exports of garments and textiles are the other main sources of foreign exchange earnings. Ship building and cane cultivation have become a major force of growth. GDP's rapid growth due to sound financial control and regulations have also contributed to its growth; however, foreign direct investment is yet to rise significantly. Bangladesh has made major strides in its human development index.The economy of Bangladesh is a rapidly developing market-based economy. Its per capita income in 2010 was est. US$1,700 (adjusted by purchasing power parity). According to the International Monetary Fund, Bangladesh ranked as the 44rd largest economy in the world in 2011 in PPP terms and 57th largest in nominal terms, among the Next Eleven or N-11 of Goldman Sachs and D-8 economies, with a gross domestic product of US$269.3 billion in PPP terms and US$104.9 billion in nominal terms. The economy has grown at the rate of 6-7% per annum over the past few years. More than half of the GDP is generated by the service sector; while nearly half of Bangladeshis are employed in the agriculture sector. Other goods produced are textiles, jute, fish, vegetables, fruit, leather and leather goods, ceramics, ready-made goods. The land is devoted mainly to rice and jute cultivation as well as fruits and other produce, although wheat production has increased in recent years; the country is largely self-sufficient in rice production. Bangladesh's growth of its agricultural industries is due to its fertile deltaic land that depend on its six seasons and multiple harvests. Transportation, communication, water distribution, and energy infrastructure are rapidly developing. Bangladesh is limited in its reserves of oil, but recently there has been huge development in gas and coal mining. The service sector has expanded rapidly during last two decades and the country's industrial base remains very positive. The country's main endowments include its vast human resource base, rich agricultural land, relatively abundant water, and substantial reserves of natural gas, with the blessing of possessing the worlds only natural sea ports in Mongla and Chittagong, in addition to being the only central port linking two large burgeoning economic hub groups SAARC and ASEAN.
Economic Secotors
Agriculture
![[Farmers]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_ukuHax7TGXJXRbhEIy0igdN-rfkQzcdCraTKopYGQInuqD5jtBADnG6dUfcUjQEuOzJFCdB1rlxFn_N9ewcO3WECLo0DzNGQf0Y5WF4qdZsMfWdlBcQH6iuFqEemYuOBNRNnjd=s0-d)
Most Bangladeshis earn their livings directly or indirectly from
agriculture. Rice and jute are the primary crops; wheat is assuming
greater importance; and tea is grown in hilly regions of the northeast.
Bangladesh's fertile soil and normally ample water supply yield three
rice crops in many areas. Through better flood control and irrigation
measures, more intensive use of fertilizers and high-yielding seed
varieties, increased price incentives, and improved distribution and
rural credit networks, Bangladesh's labor-intensive agricultural sector
has achieved steady increases in foodgrain production.
|
Foodgrain
production in 1992 was about 20 million metric tons, a 5% increase over
the previous year. Rice is Bangladesh's principal crop, although yields
per hectare are among the lowest in Asia. While rice output rose 3.2%
in 1992, much recent growth in foodgrain output can be attributed to the
irrigated spring crop, which has increased steadily due to the greater
availability of fertilizer and irrigation equipment. Wheat production
also is expected to rise from 900,000 to about 1 million metric tons in
1992. Jute, which historically has accounted for the bulk of
Bangladesh's export receipts, faces an uncertain future due to
competition from synthetic fiber substitutes. Fishing, especially for
shrimp, has become an increasingly important source of export earnings.
Basic Information on Agriculture of Bangladesh
| Area of Bangladesh |
147570sq.km
|
| Total population (January 1999) |
128.1 million
|
| GDP (1998-99) |
755.73 billion Tk.
|
| GDP Growth rate (1998-99) |
5.2%
|
| Agricultural Growth rate (1998-99) |
5.0%
|
| No. of Rural Household |
17.83 million
|
| No. of non-Farm Household |
6.03 million
|
| No. of Farm Household |
11.80 million
|
| No. of Agril. Labour Household |
6.40 million
|
| Small Household |
80% (9.42 million)
|
| Medium Household |
17.50% (2.08) million)
|
| Large Household |
2.50% (0.3 million)
|
| Cultivated Area |
17.77 million acres
|
| Cultivated Area per Household |
1.5 acres
|
| Cropping Intensity (1996-97) |
174%
|
| Irrigation Area |
8.59
million acres
|
Macro-economic trend
This is a chart of trend of gross domestic product of Bangladesh at
market prices estimated
by the International Monetary Fund with figures in millions of
Bangladeshi Taka. However, this reflects only the formal sector of the
economy.
| Year | Gross Domestic Product | US Dollar Exchange | Inflation Index (2000=100) |
Per Capita Income (as % of USA) |
|---|---|---|---|---|
| 1980 | 250,300 | 16.10 Taka | 20 | 1.79 |
| 1985 | 597,318 | 31.00 Taka | 36 | 1.19 |
| 1990 | 1,054,234 | 35.79 Taka | 58 | 1.16 |
| 1995 | 1,594,210 | 40.27 Taka | 78 | 1.12 |
| 2000 | 2,453,160 | 52.14 Taka | 100 | 0.97 |
| 2005 | 3,913,334 | 63.92 Taka | 126 | 0.95 |
| 2008 | 5,003,438 | 68.65 Taka | 147 |
Industry
![[Garment Workers]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_uKIfGKfDVUis9hNOO8ulZFqHmmDrycdhQPykw-xBM4xrXCzjUc3l4JtZBVlgDUItuk2JfMFY0PkjWRhQrZAFU-wfEYcohA0rBkDy_h9dVR9GHJf5aDJDmSNviHlj-G9Jk=s0-d)
Although
small, the industrial sector contributes significantly to export
receipts; it also provides employment and a market for cash crops. Jute
products--mainly burlap sacking and carpet backing
for export--and cotton textiles for domestic consumption
predominate.
Since the early 1980s production of ready-made garments for the
US market
has grown rapidly. Bangladesh is the fifth largest supplier of
cotton
apparel to the United States, and it has begun exporting to West
European
markets. Breaking up ships for scrap, using methods that are
highly labor
intensive, now meets most of Bangladesh's domestic steel needs.
Other
industries include sugar, tea, leather goods, newsprint,
pharmaceuticals,
and fertilizer production. The industrial (and foreign exchange)
impact
of the discovery of modest reserves of oil in 1986 remains to be
assessed.
The government continues to court foreign investment. To this
end, the
United States and Bangladesh signed a bilateral investment
treaty which
took effect in 1989. Bangladesh also has established an export
processing
zone (EPZ) in Chittagong and plans to create additional zones.
The government
has offered special incentives and simplified procedures for
potential
investors.
Manufacturing and industry
Many new jobs - mostly for women - have been created by the country's
dynamic private ready-made garment industry, which grew at double-digit
rates through most of the 1990s.
By the late 1990s, about 1.5 million people, mostly women, were
employed in the garments sector as well as Leather products specially
Footwear (Shoe manufacturing unit). During 2001-2002, export earnings
from ready-made garments reached $3,125 million, representing 52% of
Bangladesh's total exports. Bangladesh has overtaken India in apparel
exports in 2009, its exports stood at 2.66 billion US dollar, ahead of
India's 2.27 billion US dollar.
T.K Group Of Industires is one of
the largest and leading manufacturing/maker in Bangladesh.
Eastern Bengal was known for its fine muslin and silk fabric before
the British period. The dyes, yarn, and cloth were the envy of much of
the premodern world. Bengali muslin, silk, and brocade were worn by the
aristocracy of Asia and Europe. The introduction of machine-made
textiles from England in the late eighteenth century spelled doom for
the costly and time-consuming hand loom process. Cotton growing died out
in East Bengal, and the textile industry became dependent on imported
yarn. Those who had earned their living in the textile industry were
forced to rely more completely on farming. Only the smallest vestiges of
a once-thriving cottage industry survived.
Other industries which have shown very strong growth include the
chemical industry, steel industry, mining industry and the paper and
pulp industry.
Aid and Trade
Since independence in 1971, Bangladesh has received more than $22
billion in grant aid and loan commitments from foreign donors, about $15
billion of which has been disbursed. Major donors include the World
Bank, the Asian Development Bank, the UN Development Program, the United
States, Japan, Saudi Arabia, and a number of West European countries.
As of 1991, the United States had provided more than $3.3 billion in
food and development assistance. Food aid provides food, promotes
production, and helps stabilize prices. Other US programs target family
planning and health, agricultural development, and rural unemployment.
In 1991, the US forgave Bangladesh $293 million of development
assistance debt.
Bangladesh historically has run a large trade
deficit, about $1.5 billion annually during the late 1980s. This was
financed largely through foreign assistance. The balance of payments
swung into surplus in 1990-91 because of increased exports of garments
and depressed domestic demand for imports. In recent years, remittances
from workers in the Middle East have been Bangladesh's most important
source of foreign exchange earnings. The US trade balance with
Bangladesh has been negative since 1986, due largely to imports of
ready-made garments.
Aid and Trade Indicators
| 1997 | 1998 | 1999 1/ | |
| Total Exports FOB | 4,406 | 5,161 | 5,313 |
| Exports to U.S. 3/ | 1.679 | 1,846 | N/A |
| Total Imports CIF | 7,162 | 7,524 | 7,515 |
| Imports from U.S. 3/ | 259 | 318 | N/A |
| Trade Balance | -2,756 | -2,363 | -2,202 |
| Balance with U.S. 3/ | 1,420 | 1,528 | N/A |
| External Public Debt 4/ | 15,025 | 15,855 | 16,234 |
| Fiscal Deficit/GDP (pct) | 4.5 | 4.2 | 5.3 |
| Current Account Deficit/GDP (pct) | 2.4 | 3.6 | 4.2 |
| Debt Service Payments/GDP (pct) | 1.0 | 1.0 | 1.0 |
| Gold and Foreign Exchange Reserves | 1,719 | 1,751 | 1,522 |
| Aid from U.S. 5/ | 73.6 | 77.0 | 153.0 |
| Aid from All Sources 6/ | 1,481 | 1,419 | 1,502 |
2/ Percentage change calculated in local currency.
3/ Figures are for the calendar year.
4/ Medium and long-term.
5/ Figures are for the U.S. fiscal year (October 1-September 30).
6/ Disbursements.
Vital Statistics
Quality of Life Indicators
|
Population
|
Population Growth
|
Urban Population
|
Life Expectancy
|
Literacy
|
People per Doctor
|
People per Telephone
|
People per TV
|
Calorie Intake
|
Infant Mortality
|
|
122.7
|
2.2%
|
21%
|
56
|
36.6%
|
12,500
|
380.0
|
170.5
|
2,100
|
90
|
|
21.2
|
1.9%
|
19%
|
44
|
31.6%
|
7,358
|
390.0
|
114.4
|
1,710
|
164
|
|
0.7
|
2.3%
|
7%
|
49
|
40.9%
|
4,255
|
155.7
|
--
|
2,058
|
126
|
|
928.6
|
2.1%
|
26%
|
61
|
52.1%
|
2,165
|
93.5
|
23.6
|
2,243
|
79
|
|
0.2
|
3.0%
|
31%
|
64
|
92.6%
|
5,330
|
17.9
|
33.3
|
2,416
|
55
|
|
21.6
|
2.3%
|
14%
|
54
|
27.0%
|
12,612
|
174.0
|
354.8
|
2,246
|
88
|
|
132.2
|
2.9%
|
35%
|
62
|
35.7%
|
2,000
|
68.5
|
47.7
|
2,377
|
88
|
|
18.2
|
1.2%
|
22%
|
72
|
89.3%
|
5,888
|
88.1
|
19.2
|
2,286
|
14
|
Comparative
Economics
|
Name
|
Per Capita GDP (PPP)
|
GDP (PPP)
|
Per Capita GNP
|
Reserves excl. Gold
|
Current AC Balance
|
GDP Growth
|
Savings as % of GDP
|
Exports : 12 months
|
Inflation (CPI)
|
Debt
|
|
Sri_Lanka
|
$3,030
|
$53b.
|
$635
|
$2.1b.
|
-$0.6b.
|
5.7%
|
16%
|
$3.6b.
|
11.2%
|
$6.4b.
|
|
|
$1,373
|
$0.3b.
|
$470
|
$0.04b.
|
-$0.05b.
|
5.5%
|
11%
|
$0.1b.
|
3.1%
|
$0.1b.
|
|
|
$2,235
|
$282b.
|
$440
|
$2.3b.
|
-$1.5b.
|
4.7%
|
14%
|
$7.8b.
|
8.9%
|
$26.1b.
|
|
|
$1,280
|
$1,180b.
|
$310
|
$16.4b.
|
-$2.7b.
|
5.3%
|
24%
|
$26.2b.
|
8.2%
|
$85.2b.
|
|
|
$1,290
|
$151b.
|
$220
|
$2.6b.
|
$0.2b.
|
4.5%
|
7%
|
$3.5b.
|
6.4%
|
$14.8b.
|
|
|
$1,165
|
$25b.
|
$180
|
$0.7b.
|
-$0.3b.
|
7.0%
|
10%
|
$0.4b.
|
8.2%
|
$1.9b.
|
|
|
$720
|
$14b.
|
$150
|
$0.2b.
|
-$0.1b.
|
2.0%
|
10%
|
$1.0b.
|
56.7%
|
$5.4b.
|
Compiled from latest available data. Purchasing-Power Parity (PPP) takes
into account price differences between countries to provide a more accurate
picture of national wealth. Gross Domestic Product (GDP) is the value of all
goods and services produced in one year. GDP growth is adjusted for inflation.
Gross National Product (GNP) is GDP plus payments from abroad from investments,
labor and minus similar payments to foreigners. Per-capita GNP is converted to
U.S. dollars using average exchange rates.
Key Indicators
(Millions of U.S.
Dollars unless otherwise indicated)
| 1997 | 1998 | 1999 1/ | |
Income, Production and Employment:
| |||
| Nominal GDP | 33,012 | 34,104 | 36,482 |
| Real GDP Growth (pct) 2/ | 5.9 | 5.7 | 5.2 |
| GDP by Sector: | |||
| Agriculture | 9,618 | 9,770 | 10,927 |
| Manufacturing | 3,049 | 3,275 | 3,262 |
| Services | 17,462 | 18,307 | 19,379 |
| Government | N/A | N/A | N/A |
| Per Capita GDP (US$) | 263 | 270 | 284 |
| Labor Force (000s) | N/A | N/A | N/A |
| Unemployment Rate (pct) | N/A | N/A | N/A |
Money and Prices
(annual percentage growth):
| |||
| Money Supply Growth (M2) | 10.8 | 10.1 | 13.1 |
| Consumer Price Inflation | 2.6 | 7.0 | 9.0 |
| Exchange Rate (Taka/US$ annual average) | |||
| Official | 42.8 | 45.4 | 47.95 |
| Parallel | N/A | N/A | N/A |
Balance of
Payments and Trade:
| |||
| Total Exports FOB | 4,406 | 5,161 | 5,313 |
| Total Imports CIF | 7,162 | 7,524 | 7,515 |
| Trade Balance | -2,756 | -2,363 | -2,202 |
| External Public Debt 4/ | 15,025 | 15,855 | 16,234 |
| Fiscal Deficit/GDP (pct) | 4.5 | 4.2 | 5.3 |
| Current Account Deficit/GDP (pct) | 2.4 | 3.6 | 4.2 |
| Debt Service Payments/GDP (pct) | 1.0 | 1.0 | 1.0 |
| Gold and Foreign Exchange Reserves | 1,719 | 1,751 | 1,522 |
| Aid from All Sources 5/ | 1,481 | 1,419 | 1,502 |
2/ Percentage change calculated in local currency.
3/ Figures are for the calendar year.
4/ Medium and long-term.
5/ Disbursements.
Thumbnail Facts
| GDP: | purchasing power parity - $230 billion (2001 est.) |
| GDP - real growth rate: | 5.6% (2001 est.) |
| GDP - per capita: | purchasing power parity - $1,750 (2001 est.) |
| GDP - composition by sector: | agriculture: 30% industry: 18% services: 52% (2000 est.) |
| Population below poverty line: | 36% |
| Household income or consumption by percentage share: | owest 10%: 4% highest 10%: 29% |
| Distribution of family income - Gini index: | 34 (1995-96 ) |
| Inflation rate (consumer prices): | 5.8% (2000 est.) |
| Labor force: | 64.1
million (1998) note: extensive export of labor to Saudi Arabia, Kuwait, UAE, Oman, Qatar, and Malaysia; workers' remittances estimated at $1.71 billion in 1998-99 (1998) |
| Labor force - by occupation: | agriculture 63%, services 26%, industry 11% (FY95/96) |
| Unemployment rate: | 35% (2001 est.) |
| Budget: | revenues: $4.9
billion expenditures: $6.8 billion, including capital expenditures of $NA (FY99/00 est.) |
| Industries: | cotton textiles, jute, garments, tea processing, paper newsprint, cement, chemical fertilizer, light engineering, sugar |
| Industrial production growth rate: | 6.2% (2001 est.) |
| Electricity - production: | 13.493 billion kWh (2000) |
| Electricity - production by source: | fossil fuel: 92% hydro: 8% other: 0% (2000) nuclear: 0% |
| Electricity - consumption: | 12.548 billion kWh (2000) |
| Electricity - exports: | 0 kWh (2000) |
| Electricity - imports: | 0 kWh (2000) |
| Agriculture - products: | rice, jute, tea, wheat, sugarcane, potatoes, tobacco, pulses, oilseeds, spices, fruit; beef, milk, poultry |
| Exports: | $6.6 billion (2001) |
| Exports - commodities: | garments, jute and jute goods, leather, frozen fish and seafood |
| Exports - partners: | US 31.8%, Germany 10.9%, UK 7.9%, France 5.2%, Netherlands 5.2%, Italy 4.42% (2000) |
| Imports: | $8.7 billion (2001) |
| Imports - commodities: | machinery and equipment, chemicals, iron and steel, textiles, raw cotton, food, crude oil and petroleum products, cement |
| Imports - partners: | India 10.5%, EU 9.5%, Japan 9.5%, Singapore 8.5%, China 7.4% (2000) |
| Debt - external: | $17 billion (2000) (2000) |
| Economic aid - recipient: | $1.575 billion |
| Currency: | taka (BDT) |
| Currency code: | BDT |
| Exchange rates: | taka per US dollar - 57.756 (January 2002), 55.807 (2001), 52.142 (2000), 49.085 (1999), 46.906 (1998), 43.892 (1997) |
| Fiscal year: | 1 July - 30 June |
Relevant Sites
- Directory - directory of Bangladesh business and economy.
- Bangladesh Bank - Central Bank of Bangladesh
- Investment - guide to investment in Bangladesh from the government of Bangladesh.
Investment
The stock market capitalization of the Dhaka Stock Exchange in Bangladesh crossed $10
billion in November 2007 and the $30 billion dollar mark in 2009, and
USD 50 billion in August 2010. Bangladesh had one of the best performing
stock markets in the world during the recent global recession, due to
relatively low correlations with developed country stock markets.
Major investment in real estate by domestic and foreign-resident
Bangladeshis has led to a massive building boom in Dhaka and Chittagong.
Recent (2011) trends for investing in Bangladesh as Saudi Arabia
trying to secure public and private investment in oil and gas, power and
transportation projects, United Arab Emirates (UAE) is keen to invest
in growing shipbuilding industry in Bangladesh encouraged by comparative
cost advantage, Tata, an India-based leading industrial multinational
to invest Taka 1500 crore to set up an automobile industry in
Bangladesh, World Bank to invest in rural roads improving quality of
live, the Rwandan entrepreneurs are keen to invest in Bangladesh's
pharmaceuticals sector considering its potentiality in international
market, Samsung sought to lease 500 industrial plots from the export
zones authority to set up an electronics hub in Bangladesh with an
investment of US$1.25 billion, National Board of Revenue (NBR) is set to
withdraw tax rebate facilities on investment in the capital market by
individual taxpayers from the fiscal 2011-12.
| Fiscal Year | Total Export | Total Import | Foreign Remittance Earnings |
|---|---|---|---|
| 2007–2008 | $14.11b | $25.205b | $8.9b |
| 2008–2009 | $15.56b | $22.00b+ | $9.68b |
| 2009–2010 | $16.7b | ~$24b | $10.87b |
| 2010–2011 | $22.93b | $32b | $11.65b |
| 2011–2012 | $24.30b | $35.92b | $12.85b |
2010-11 market crash
The bullish capital market turned bearish during 2010, with the exchange losing 1,800 points between December 2010 and January 2011. Millions of investors have been rendered bankrupt as a result of the market crash. The crash is believed to be caused artificially to benefit a handful of players at the expense of the big players.
Although one of the world's poorest and most densely populated
countries, Bangladesh has made major strides to meet the food needs of
its increasing population, through increased domestic production
augmented by imports. The land is devoted mainly to rice and jute
cultivation, although wheat production has increased in recent years;
the country is largely self-sufficient in rice production. Nonetheless,
an estimated 10% to 15% of the population faces serious nutritional
risk. Bangladesh's predominantly agricultural economy depends heavily on
an erratic monsoonal cycle, with periodic flooding and drought.
Although improving, infrastructure to support transportation,
communications, and power supply is poorly developed. Bangladesh is
limited in its reserves of coal and oil, and its industrial base is
weak. The country's main endowments include its vast human resource
base, rich agricultural land, relatively abundant water, and substantial
reserves of natural gas.
Since independence in 1971, Bangladesh has received more than $30 billion in grant aid and loan commitments from foreign donors, about $15 billion of which has been disbursed. Major donors include the World Bank, the Asian Development Bank, the UN Development Program, the United States, Japan, Saudi Arabia, and west European countries. Bangladesh historically has run a large trade deficit, financed largely through aid receipts and remittances from workers overseas. Foreign reserves dropped markedly in 2001 but stabilized in the $3 billion to $4 billion range (or about 3 months' import cover). In January 2007, reserves stood at $3.74 billion, and they increased to $5.39 billion by January 2008, according to the Bank of Bangladesh, the central bank. As of FY 2009, Bangladesh’s economy was weathering the global economic crisis, growing some 5.9%. Exports dipped slightly, but the decrease was modest compared to other developing nations. Remittances from overseas workers remained strong, though it was thought that growth in remittances could slow following an apparent slowdown in the numbers of Bangladesh workers going abroad. The United States is Bangladesh’s third-largest export market, with trade between the two nations reaching $4.2 billion in 2009. The economy was predicted to grow near 6% in 2010.
Moves Toward a Market Economy
Following the violent events of 1971 during the fight for independence, Bangladesh--with the help of large infusions of donor relief and development aid--slowly began to turn its attention to developing new industrial capacity and rehabilitating its economy. The static economic model adopted by its early leadership, however--including the nationalization of much of the industrial sector--resulted in inefficiency and economic stagnation. Beginning in late 1975, the government gradually gave greater scope to private sector participation in the economy, a pattern that has continued. A few state-owned enterprises have been privatized, but many, including major portions of the banking and jute sectors, remain under government control. Population growth, inefficiency in the public sector, resistance to developing the country's richest natural resources, and limited capital have all continued to restrict economic growth.
In the mid-1980s, there were encouraging, if halting, signs of progress. Economic policies aimed at encouraging private enterprise and investment, denationalizing public industries, reinstating budgetary discipline, and liberalizing the import regime were accelerated. From 1991 to 1993, the government successfully followed an enhanced structural adjustment facility (ESAF) with the International Monetary Fund (IMF) but failed to follow through on reforms in large part because of preoccupation with the government's domestic political troubles. In the late 1990s the government's economic policies became more entrenched, and some of the early gains were lost, which was highlighted by a precipitous drop in foreign direct investment in 2000 and 2001. In June 2003 the IMF approved 3-year, $490-million plan as part of the Poverty Reduction and Growth Facility (PRGF) for Bangladesh that aimed to support the government's economic reform program up to 2006. Seventy million dollars was made available immediately. In the same vein the World Bank approved $536 million in interest-free loans.
Efforts to achieve Bangladesh's macroeconomic goals have been problematic. The privatization of public sector industries has proceeded at a slow pace--due in part to worker unrest in affected industries--although on June 30, 2002, the government took a bold step as it closed down the Adamjee Jute Mill, the country's largest and most costly state-owned enterprise. The government also has proven unable to resist demands for wage hikes in government-owned industries. Access to capital is impeded. State-owned banks, which control about three-fourths of deposits and loans, carry classified loan burdens of about 50%.
The IMF and World Bank predicted GDP growth over 2010-2015 of about 6.0%, well short of the 8%-9% needed to lift Bangladesh out of its severe poverty. The initial impact of the end of quotas under the Multi-Fiber Arrangement has been positive for Bangladesh, with continuing investment in the ready-made garment sector, which has experienced annual export growth of around 20%. Downward price pressure means Bangladesh must continue to cut final delivered costs if it is to remain competitive in the world market. Foreign investors in a broad range of sectors have been increasingly frustrated with the politics of confrontation, the level of corruption, and the slow pace of reform. Investors viewed favorably steps taken by the interim government to address corruption, governance, and infrastructure issues, though most believed it was too early to assess the long-term impact of those developments. With the reemergence of Sheikh Hasina in a position of political leadership, and her subsequent interest in international outreach, opportunities to build upon U.S.-Bangladesh economic cooperation exist. For prospective economic cooperation to be further realized, Bangladesh must address its market shortcomings and vulnerabilities in a timely manner.
Agriculture
Most Bangladeshis earn their living from agriculture. Although rice and jute are the primary crops, maize and vegetables are assuming greater importance. Due to the expansion of irrigation networks, some wheat producers have switched to cultivation of maize which is used mostly as poultry feed. Tea is grown in the northeast. Because of Bangladesh's fertile soil and normally ample water supply, rice can be grown and harvested three times a year in many areas. Due to a number of factors, Bangladesh's labor-intensive agriculture has achieved steady increases in food grain production despite the often unfavorable weather conditions. These include better flood control and irrigation, a generally more efficient use of fertilizers, and the establishment of better distribution and rural credit networks. With 28.8 million metric tons produced in 2005-2006 (July-June), rice is Bangladesh's principal crop. By comparison, wheat output in 2005-2006 was 9 million metric tons. Population pressure continues to place a severe burden on productive capacity, creating a food deficit, especially of wheat. Foreign assistance and commercial imports fill the gap. Underemployment remains a serious problem, and a growing concern for Bangladesh's agricultural sector will be its ability to absorb additional manpower. Finding alternative sources of employment will continue to be a daunting problem for future governments, particularly with the increasing numbers of landless peasants who already account for about half the rural labor force.
Industry and Investment
Fortunately for Bangladesh, many new jobs--1.8 million, mostly for women--have been created by the country's dynamic private ready-made garment industry, which grew at double-digit rates through most of the 1990s. The labor-intensive process of ship-breaking for scrap has developed to the point where it now meets most of Bangladesh's domestic steel needs. Other industries include sugar, tea, leather goods, newsprint, pharmaceutical, and fertilizer production. The country has done less well, however, in expanding its export base--garments account for more than three-fourths of all exports, dwarfing the country's historic cash crop, jute, along with leather, shrimp, pharmaceuticals, and ceramics.
Despite the country's politically motivated general strikes, poor infrastructure, and weak financial system, Bangladeshi entrepreneurs have shown themselves adept at competing in the global garments marketplace. Bangladesh exports significant amounts of garments and knitwear to the U.S. and the European Union (EU) market. As noted, the initial impact of the end of quotas on Bangladesh's ready-made garment industry has been positive. Downward price pressures, however, mean Bangladesh must continue to cut final delivered costs if it is to remain competitive in the world market.
The Bangladesh Government continues to court foreign investment, something it did fairly well in the 1990s in private power generation and gas exploration and production, as well as in other sectors such as cellular telephony, textiles, and pharmaceuticals. In 1989, the same year it signed a bilateral investment treaty with the United States, it established a board of investment to simplify approval and start-up procedures for foreign investors, although in practice the board has done little to increase investment. Bangladesh also has established export processing zones in Chittagong (1983), Dhaka (1994), Comilla (2000), Mongla (2001), Iswardi (2005), Uttara (2006), and Karnafully (2007).
The most important reforms Bangladesh should make to be able to compete in a global economy are to privatize state-owned enterprises (SOEs), deregulate and promote foreign investment in high-potential industries like energy and telecommunications, and take decisive steps toward combating corruption and strengthening rule of law.
Since independence in 1971, Bangladesh has received more than $30 billion in grant aid and loan commitments from foreign donors, about $15 billion of which has been disbursed. Major donors include the World Bank, the Asian Development Bank, the UN Development Program, the United States, Japan, Saudi Arabia, and west European countries. Bangladesh historically has run a large trade deficit, financed largely through aid receipts and remittances from workers overseas. Foreign reserves dropped markedly in 2001 but stabilized in the $3 billion to $4 billion range (or about 3 months' import cover). In January 2007, reserves stood at $3.74 billion, and they increased to $5.39 billion by January 2008, according to the Bank of Bangladesh, the central bank. As of FY 2009, Bangladesh’s economy was weathering the global economic crisis, growing some 5.9%. Exports dipped slightly, but the decrease was modest compared to other developing nations. Remittances from overseas workers remained strong, though it was thought that growth in remittances could slow following an apparent slowdown in the numbers of Bangladesh workers going abroad. The United States is Bangladesh’s third-largest export market, with trade between the two nations reaching $4.2 billion in 2009. The economy was predicted to grow near 6% in 2010.
Moves Toward a Market Economy
Following the violent events of 1971 during the fight for independence, Bangladesh--with the help of large infusions of donor relief and development aid--slowly began to turn its attention to developing new industrial capacity and rehabilitating its economy. The static economic model adopted by its early leadership, however--including the nationalization of much of the industrial sector--resulted in inefficiency and economic stagnation. Beginning in late 1975, the government gradually gave greater scope to private sector participation in the economy, a pattern that has continued. A few state-owned enterprises have been privatized, but many, including major portions of the banking and jute sectors, remain under government control. Population growth, inefficiency in the public sector, resistance to developing the country's richest natural resources, and limited capital have all continued to restrict economic growth.
In the mid-1980s, there were encouraging, if halting, signs of progress. Economic policies aimed at encouraging private enterprise and investment, denationalizing public industries, reinstating budgetary discipline, and liberalizing the import regime were accelerated. From 1991 to 1993, the government successfully followed an enhanced structural adjustment facility (ESAF) with the International Monetary Fund (IMF) but failed to follow through on reforms in large part because of preoccupation with the government's domestic political troubles. In the late 1990s the government's economic policies became more entrenched, and some of the early gains were lost, which was highlighted by a precipitous drop in foreign direct investment in 2000 and 2001. In June 2003 the IMF approved 3-year, $490-million plan as part of the Poverty Reduction and Growth Facility (PRGF) for Bangladesh that aimed to support the government's economic reform program up to 2006. Seventy million dollars was made available immediately. In the same vein the World Bank approved $536 million in interest-free loans.
Efforts to achieve Bangladesh's macroeconomic goals have been problematic. The privatization of public sector industries has proceeded at a slow pace--due in part to worker unrest in affected industries--although on June 30, 2002, the government took a bold step as it closed down the Adamjee Jute Mill, the country's largest and most costly state-owned enterprise. The government also has proven unable to resist demands for wage hikes in government-owned industries. Access to capital is impeded. State-owned banks, which control about three-fourths of deposits and loans, carry classified loan burdens of about 50%.
The IMF and World Bank predicted GDP growth over 2010-2015 of about 6.0%, well short of the 8%-9% needed to lift Bangladesh out of its severe poverty. The initial impact of the end of quotas under the Multi-Fiber Arrangement has been positive for Bangladesh, with continuing investment in the ready-made garment sector, which has experienced annual export growth of around 20%. Downward price pressure means Bangladesh must continue to cut final delivered costs if it is to remain competitive in the world market. Foreign investors in a broad range of sectors have been increasingly frustrated with the politics of confrontation, the level of corruption, and the slow pace of reform. Investors viewed favorably steps taken by the interim government to address corruption, governance, and infrastructure issues, though most believed it was too early to assess the long-term impact of those developments. With the reemergence of Sheikh Hasina in a position of political leadership, and her subsequent interest in international outreach, opportunities to build upon U.S.-Bangladesh economic cooperation exist. For prospective economic cooperation to be further realized, Bangladesh must address its market shortcomings and vulnerabilities in a timely manner.
Agriculture
Most Bangladeshis earn their living from agriculture. Although rice and jute are the primary crops, maize and vegetables are assuming greater importance. Due to the expansion of irrigation networks, some wheat producers have switched to cultivation of maize which is used mostly as poultry feed. Tea is grown in the northeast. Because of Bangladesh's fertile soil and normally ample water supply, rice can be grown and harvested three times a year in many areas. Due to a number of factors, Bangladesh's labor-intensive agriculture has achieved steady increases in food grain production despite the often unfavorable weather conditions. These include better flood control and irrigation, a generally more efficient use of fertilizers, and the establishment of better distribution and rural credit networks. With 28.8 million metric tons produced in 2005-2006 (July-June), rice is Bangladesh's principal crop. By comparison, wheat output in 2005-2006 was 9 million metric tons. Population pressure continues to place a severe burden on productive capacity, creating a food deficit, especially of wheat. Foreign assistance and commercial imports fill the gap. Underemployment remains a serious problem, and a growing concern for Bangladesh's agricultural sector will be its ability to absorb additional manpower. Finding alternative sources of employment will continue to be a daunting problem for future governments, particularly with the increasing numbers of landless peasants who already account for about half the rural labor force.
Industry and Investment
Fortunately for Bangladesh, many new jobs--1.8 million, mostly for women--have been created by the country's dynamic private ready-made garment industry, which grew at double-digit rates through most of the 1990s. The labor-intensive process of ship-breaking for scrap has developed to the point where it now meets most of Bangladesh's domestic steel needs. Other industries include sugar, tea, leather goods, newsprint, pharmaceutical, and fertilizer production. The country has done less well, however, in expanding its export base--garments account for more than three-fourths of all exports, dwarfing the country's historic cash crop, jute, along with leather, shrimp, pharmaceuticals, and ceramics.
Despite the country's politically motivated general strikes, poor infrastructure, and weak financial system, Bangladeshi entrepreneurs have shown themselves adept at competing in the global garments marketplace. Bangladesh exports significant amounts of garments and knitwear to the U.S. and the European Union (EU) market. As noted, the initial impact of the end of quotas on Bangladesh's ready-made garment industry has been positive. Downward price pressures, however, mean Bangladesh must continue to cut final delivered costs if it is to remain competitive in the world market.
The Bangladesh Government continues to court foreign investment, something it did fairly well in the 1990s in private power generation and gas exploration and production, as well as in other sectors such as cellular telephony, textiles, and pharmaceuticals. In 1989, the same year it signed a bilateral investment treaty with the United States, it established a board of investment to simplify approval and start-up procedures for foreign investors, although in practice the board has done little to increase investment. Bangladesh also has established export processing zones in Chittagong (1983), Dhaka (1994), Comilla (2000), Mongla (2001), Iswardi (2005), Uttara (2006), and Karnafully (2007).
The most important reforms Bangladesh should make to be able to compete in a global economy are to privatize state-owned enterprises (SOEs), deregulate and promote foreign investment in high-potential industries like energy and telecommunications, and take decisive steps toward combating corruption and strengthening rule of law.
Economy
As officially estimated, GDP of Bangladesh grew by 6.3% in Fiscal Year 2012, close to the Asian Development Outlook (ADO) 2012 projection of 6.2%. While export growth slowed sharply, private consumption held up well, supported by a recovery in remittance growth and healthy credit flows. Agricultural growth slowed to only 2.5% because of higher production costs, mainly from higher power, fuel, and fertilizer prices. Industry grew robustly by 9.5%, boosted by construction and small-scale manufacturing for the domestic market. Service sector growth stood at 6.1%. Electricity and gas shortages continued to hamper economic activity and discourage investment.| Economic Indicators 2011 - Bangladesh | |
|---|---|
| GDP growth (% change per year) | 6.7 |
| CPI (% change per year) | 8.8 |
| Fiscal balance (% of GDP) | (4.3) |
| Export growth (% change per year) | 41.7 |
| Import growth (% change per year) | 41.8 |
| Current account balance (% of GDP) | 0.8 |
( ) = negative, CPI = consumer price index, GDP =
gross domestic product
Sources: ADB. 2012. Asian Development Outlook 2012 Update. Manila; ADB. 2012. Asian Development Outlook 2012. Manila; ADB staff estimates; World Bank. 2012. World Development Indicators Online.
For FY2013, the ADO 2012 Update retains the ADO 2012
projections for growth (6.0%) and inflation (8.5%) but slightly narrows
the projected current account deficit to 0.4%. Growth in garment exports
is expected to be modest, but remittances will grow substantially as
more workers leave for jobs in the Middle East.Sources: ADB. 2012. Asian Development Outlook 2012 Update. Manila; ADB. 2012. Asian Development Outlook 2012. Manila; ADB staff estimates; World Bank. 2012. World Development Indicators Online.
As part of an economic program to adjust policies and make available additional external support, an extended credit facility from the International Monetary Fund aims to enhance macroeconomic stability, strengthen the balance of payments, and support faster and more inclusive economic growth. Under the program, and in line with Sixth Five-Year Plan priorities, the authorities are expected to follow more effective monetary and fiscal policies, initiate actions to expand fiscal space, stem reserve losses, streamline the finance sector, generate additional resources for boosting spending on the infrastructure and social sectors, address power shortages, and adopt policies that encourage investment and trade toward creating more jobs in producing exports.
Economy - overview
The economy has grown 5-6% per year since
1996 despite political instability, poor infrastructure, corruption,
insufficient power supplies, and slow implementation of economic
reforms. Bangladesh remains a poor, overpopulated, and
inefficiently-governed nation. Although more than half of GDP is
generated through the service sector, 45% of Bangladeshis are employed
in the agriculture sector with rice as the single-most-important
product. Bangladesh's growth was resilient during the 2008-09 global
financial crisis and recession. Garment exports, totaling $12.3 billion
in FY09 and remittances from overseas Bangladeshis, totaling $11 billion
in FY10, accounted for almost 12% of GDP.
GDP (purchasing power parity)
$282.5 billion (2011 est.)
$265.7 billion (2010 est.)
$249.8 billion (2009 est.)
note: data are in 2011 US dollars
$265.7 billion (2010 est.)
$249.8 billion (2009 est.)
note: data are in 2011 US dollars
GDP (official exchange rate)
$115 billion (2011 est.)
GDP - real growth rate
6.3% (2011 est.)
6.4% (2010 est.)
5.9% (2009 est.)
6.4% (2010 est.)
5.9% (2009 est.)
GDP - per capita (PPP)
$1,700
(2011 est.)
$1,600 (2010 est.)
$1,500 (2009 est.)
note: data are in 2011 US dollars
$1,600 (2010 est.)
$1,500 (2009 est.)
note: data are in 2011 US dollars
GDP - composition by sector
agriculture:
18.4%
industry: 28.6%
services: 53% (2011 est.)
industry: 28.6%
services: 53% (2011 est.)
Population below poverty line
31.5% (2010 est.)
Labor force
75.42
million
note: extensive export of labor to Saudi Arabia, Kuwait, UAE, Oman, Qatar, and Malaysia; workers' remittances were $10.9 billion in FY09/10 (2011 est.)
note: extensive export of labor to Saudi Arabia, Kuwait, UAE, Oman, Qatar, and Malaysia; workers' remittances were $10.9 billion in FY09/10 (2011 est.)
Labor force - by occupation
agriculture: 45%
industry: 30%
services: 25% (2008)
industry: 30%
services: 25% (2008)
Unemployment rate
5% (2011 est.)
5.1% (2010 est.)
note: about 40% of the population is underemployed; many participants in the labor force work only a few hours a week, at low wages
5.1% (2010 est.)
note: about 40% of the population is underemployed; many participants in the labor force work only a few hours a week, at low wages
Unemployment, youth ages 15-24
total: 9.3%
male: 8%
female: 13.6% (2006)
male: 8%
female: 13.6% (2006)
Household income or consumption by percentage share
lowest
10%: NA
highest 10%: 26.6% (2008 est.)
highest 10%: 26.6% (2008 est.)
Distribution of family income - Gini index
33.2
(2005)
33.6 (1996)
33.6 (1996)
Investment (gross fixed)
24.7%
of GDP (2011 est.)
Budget
revenues: $12.67
billion
expenditures: $17.15 billion (2011 est.)
expenditures: $17.15 billion (2011 est.)
Taxes and other revenues
11% of GDP
(2011 est.)
Budget surplus (+) or deficit (-)
-3.9% of GDP
(2011 est.)
Public debt
36.7% of GDP (2011 est.)
35.4% of GDP (2010 est.)
35.4% of GDP (2010 est.)
Inflation rate (consumer prices)
10.7%
(2011 est.)
8.1% (2010 est.)
8.1% (2010 est.)
Central bank discount rate
5% (31 December 2010 est.)
5% (31 December 2009 est.)
5% (31 December 2009 est.)
Commercial bank prime lending rate
13.4%
(31 December 2011 est.)
13% (31 December 2010 est.)
13% (31 December 2010 est.)
Stock of money
$10.35 billion (30 September 2009)
$8.444 billion (31 December 2007)
$8.444 billion (31 December 2007)
Stock of narrow money
$16.27
billion (31 December 2011 est.)
$14.12 billion (31 December 2010 est.)
$14.12 billion (31 December 2010 est.)
Stock of broad money
$59.86 billion
(30 October 2011 est.)
$56.44 billion (31 December 2010 est.)
$56.44 billion (31 December 2010 est.)
Stock of quasi money
$45.23 billion (30 September
2009)
$37.98 billion (31 December 2008)
$37.98 billion (31 December 2008)
Stock of domestic credit
$73.69 billion (31 December 2011 est.)
$64.71 billion (31 December 2010 est.)
$64.71 billion (31 December 2010 est.)
Market value of publicly traded shares
$47 billion (31 December 2010)
$7.068 billion (31 December 2009)
$6.671 billion (31 December 2008)
$7.068 billion (31 December 2009)
$6.671 billion (31 December 2008)
Agriculture - products
rice, jute, tea,
wheat, sugarcane, potatoes, tobacco, pulses, oilseeds, spices, fruit;
beef, milk, poultry
Industries
jute, cotton, garments,
paper, leather, fertilizer, iron and steel, cement, petroleum products,
tobacco, drugs and pharmaceuticals, ceramic, tea, salt, sugar, edible
oil, soap and detergent, fabricated metal products, electricity and
natural gas
Industrial production growth rate
7.4% (2011
est.)
Electricity - production
25.62 billion kWh (2009
est.)
Electricity - production by source
fossil
fuel: 93.7%
hydro: 6.3%
nuclear: 0%
other: 0% (2001)
hydro: 6.3%
nuclear: 0%
other: 0% (2001)
Electricity - consumption
23.94 billion kWh (2009 est.)
Electricity - exports
0 kWh (2009 est.)
Electricity - imports
0
kWh (2009 est.)
Oil - production
5,724 bbl/day (2010 est.)
Oil - consumption
98,000 bbl/day (2010 est.)
Oil - exports
2,770
bbl/day (2009 est.)
Oil - imports
77,340 bbl/day (2010
est.)
Oil - proved reserves
28 million bbl (1 January 2011
est.)
Natural gas - production
19.75 billion cu m (2009
est.)
Natural gas - consumption
20.1 billion cu m (2010
est.)
Natural gas - exports
0 cu m (2009 est.)
Natural gas - imports
0 cu m (2009 est.)
Natural gas - proved reserves
195.4 billion cu m (1 January 2011 est.)
Current Account Balance
-$372 million (2011 est.)
$2.502 billion (2010 est.)
$2.502 billion (2010 est.)
Exports
$23.86 billion (2011 est.)
$19.24 billion (2010 est.)
$19.24 billion (2010 est.)
Exports - commodities
garments,
knitwear, agricultural products, frozen food (fish and seafood), jute
and jute goods, leather
Exports - partners
US 22.1%,
Germany 14.1%, UK 8.5%, France 6.8%, Netherlands 6.1% (2009)
Imports
$31.75
billion (2011 est.)
$24.72 billion (2010 est.)
$24.72 billion (2010 est.)
Imports - commodities
machinery and equipment, chemicals, iron and
steel, textiles, foodstuffs, petroleum products, cement
Imports - partners
China 18.9%, India 12.7%, Singapore 6%, Malaysia 4.7%,
Japan 4% (2009)
Reserves of foreign exchange and gold
$10.98
billion (31 December 2011 est.)
$11.18 billion (31 December 2010 est.)
$11.18 billion (31 December 2010 est.)
Debt - external
$24.93 billion (31
December 2011 est.)
$24.6 billion (31 December 2010 est.)
$24.6 billion (31 December 2010 est.)
Stock of direct foreign investment - at home
$7.216
billion (31 December 2011 est.)
$6.107 billion (31 December 2010 est.)
$6.107 billion (31 December 2010 est.)
Stock of direct foreign investment - abroad
$94.2
million (31 December 2011 est.)
$91.2 million (31 December 2010 est.)
$91.2 million (31 December 2010 est.)
Exchange rates
taka (BDT) per US
dollar -
73.7 (2011 est.)
69.65 (2010 est.)
69.04 (2009)
68.554 (2008)
69.893 (2007)
73.7 (2011 est.)
69.65 (2010 est.)
69.04 (2009)
68.554 (2008)
69.893 (2007)
Fiscal year
1 July - 30 June
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Skype ID:contact.firstchoice
serious enquiry
ReplyDeleteWe offer fresh cut bank instrument for lease, such as BG, SBLC,Lease and Purchase Instruments can be obtained at minimal expense to the borrower compared to other banking options. This offer is opened to both individuals and corporate bodies.
DESCRIPTION OF INSTRUMENTS
1. Instrument: Funds backed Bank Guarantee(BG) ICC-600
2. Currency : USD/EURO
3. Age of Issue: Fresh Cut
4. Term: One year and One day
5. Contract Amount: United State Dollars/Euros (Buyers Face Value)
6. Price : Buy:32%+1, Lease: 4%+2
7. Subsequent tranches: To be mutually agreed between both parties
8. Issuing Bank: Top RATED world banks like HSBC, Barclays, ING Dutch Bank, Llyods e.t.c
9. Delivery Term: Pre advise MT199 or MT799 first. Followed By SWIFT MT760
10. Payment Term: MT799 & Settlement via MT103
11. Hard Copy: By Bank Bonded Courier
Interested Agents,Brokers, Investors and Individual proposing international project funding should contact us for directives.We will be glad to share our working procedures with you upon request
Name:Ardan Clooney
Email:brandfinance33@gmail.com
ReplyDeleteWe are a Finance Industry Company professionals with over 15 Years Experience and a focus on providing Bank Guarantee and Standby Letter of Credit from some of the World Top 25 Prime Banks primarily from Barclays, Deutsche Bank, HSBC,Credit Suisse e.t.c.
FEATURES:
Amounts from $1 million to 5 Billion+
Euro’s or US Dollars
Great Attorney Trust Account Protection
Delivered via MT760, MT799 and MT103 Swift with Full Bank Responsibility
Brokers Always Protected
Purchase Instrument of BG/SBLC : 32%+2% Min Face Value cut = EUR/USD 1M-5B
Lease Instrument of BG/SBLC : 4%+2% Min Face Value cut = EUR/USD 1M-5B
Interested Agents/Brokers, Investors and Individual proposing international project funding should contact us for directives.We will be glad to share our working procedures with you upon request.
We Facilitate Bank instruments SBLC for Lease and Purchase. Whether you are a new startup, medium or large establishment that needs a financial solution to fund/get your project off the ground or business looking for extra capital to expand your operation,our company renders credible and trusted bank guarantee provider who are willing to fund and give financing solutions that suits your specific business needs.
We help you secure and issue sblc and bank guarantee for your trade, projects and investment from top AA rated world Banks like HSBC, Barclays, Dutch Ing Bank, Llyods e.t.c because that’s the best and safest strategy for our clients.e.t.c
DESCRIPTION OF INSTRUMENTS
1. Instrument: Funds backed Bank Guarantee(BG) ICC-600
2. Currency : USD/EURO
3. Age of Issue: Fresh Cut
4. Term: One year and One day
5. Contract Amount: United State Dollars/Euros (Buyers Face Value)
6. Price : Buy:32%+1, Lease: 4%+2
7. Subsequent tranches: To be mutually agreed between both parties
8. Issuing Bank: Top RATED world banks like HSBC, Barclays, ING Dutch Bank, Llyods e.t.c
9. Delivery Term: Pre advise MT199 or MT799 first. Followed By SWIFT MT760
10. Payment Term: MT799 & Settlement via MT103
11. Hard Copy: By Bank Bonded Courier
Interested Agents,Brokers, Investors and Individual proposing international project funding should contact us for directives.We will be glad to share our working procedures with you upon request.
Name:Richardson McAnthony
Contact Mail : intertekfinance@gmail.com
We can help facilitate the financial service bank instrument SBLC /BG, We remain the best financial consulting company with years of experience in the international and local finance market.
ReplyDeleteWe have become the hallmark of excellent service in this industry with trusted and genuine FCA registered SBLC Providers who have truly succeeded in creating significant value for all clients and brokers involved in leasing or purchasing sblc .
We issue from Top rated world Banks and also work with brokers and agents with 100% healthy commissions paid on every deal.
Leasing SBLC : 4% +2%
Purchasing SBLC : 32% +2%
DESCRIPTION OF INSTRUMENTS:
1. Instrument: Bank Guarantee (BG/SBLC)
2. Total Face Value : Please inform us
3. Issuing Bank: HSBC, Barclays London or Deutsche Bank Frankfurt or any Top 25 WEB
4. Age: One Year, One Day
5. Leasing / Selling SBLC / BG
6. Delivery: SWIFT MT799/MT760.
7. Payment: MT-103.
8. Hard Copy: Bonded Courier within 7 banking days.
All relevant business information will be provided upon request and we are ready to forward to you the DOA/CONTRACT of work once you inform us if you will be Leasing or Purchasing.
Best Regards
NAME;Fred Stones
E MAIL;premiumfinanceserviceltd@gmail.com .skype:fredforrealasurance403
Are you having one or two difficulties from other financial instrument lender? I want you to take a chance with us you will never regret doing business deal with our firm.We have direct and efficient providers.
ReplyDeleteI am the sole (Direct) mandate to several genuine efficient providers for lease/sales BG/ SBLC and other financial instruments, at reasonable prices, Issuance by top AAA rated Bank in Europe.Presently, we focus on BG/SBLC for Lease and Sale transactions, However, our Lease BG/SBLC is 6+2% and Sale at 32+2%.
Should you find this interesting and acceptable? Kindly, contact us and we shall review and respond with DOA within 48hrs maximum.
Please request for full procedure details if interested.(WE MOVE FIRST)
For further inquiry contact:
Robert Francis,
Skype: robfrancis7
+447546769978
+447031956543
robertfrancis767@gmail.com
ReplyDeleteI will like to let you know that am a direct mandate to the provider , and i work with top broker in the world without broker chain / joker broker story,
from AAA Rated bank such as HSBC Bank Hong Kong, HSBC Bank London, Deutsche Bank AG Frankfurt, Barclays Bank , Standard Chartered Bank and others on lease at the lowest available rates depending on the face value of the instrument needed.
We can help facilitate the financial service bank instrument SBLC /BG, We remain the best financial consulting company with years of experience in the international and local finance market.
We have become the hallmark of excellent service in this industry with trusted and genuine FCA registered SBLC Providers who have truly succeeded in creating significant value for all clients and brokers involved in leasing or purchasing sblc .
We issue from Top rated world Banks and also work with brokers and agents with 100% healthy commissions paid on every deal.
Kindly contact me if you have projects that need funding through this
Contact: ... bgsblc.syed@gmail.com
Skype ID: bgsblc.syed
I am direct to a provider who has recently issued banking instruments for a couple of my clients the provider is 100% check-able you can do your due diligence on them. I personally know the provider.
ReplyDeleteOur instruments are only from triple 'a' rated banks and we issue from $1M to $5B . The provider is 100% verifiable. If you are genuinely seeking bank instruments. Contact me and i will furnish you with details.
They deal with issuing of instruments such as Bank Guarantee and Standby letters of credit also Letters of credit. I only want serious buyers then i will put you in touch with the provider directly.
- Bank Guarantee (BG)
- Standby Letter of Credit (SBLC)
- Direct Line of Credit (DLC)
- Medium Term Note (MTN)
- Letter of Credit (LC)
I will be glad to share with you our working procedures.
Contact...bgsblc.syed@gmail.com
Skype....bgsblc.syed
We are Providers of all types of BG and SBLC with the best workable procedures. Our BG/SBLC ranges from MT799, MT760,(Both two way confirmation), MT103/23, MT103 (Both can be one way confirmation and two way confirmation) in USD and EUROS. Issuing Bank ranges from Top world 25 banks with face value ranging from 1M EUROS/USD to 5B EUROS/USD
ReplyDeleteBROKERS ARE WELCOME & 100% PROTECTED!!!
Intermediaries/Consultants/Brokers are welcome to bring their clients and cases to our attention and in complete confidence we will work together for the benefits of all parties involve
For further details contact us with the below information Thank you.
Contact Person: Mr. Tommy Champion
Email: trustco.financeplc@gmail.com
Skype ID: trustco.financeplc
Are you looking for financing source like bank guarantee and sblc? Whether you are a new startup, medium or large establishment that needs a financial solution to fund/get your project off the ground or an established business looking for extra capital to expand your operations, our company renders all the credible and trusted bank guarantee provider who are willing to fund and give financing solutions that suits your specific business needs.
ReplyDeleteWe help you secure bank guarantee for your trade and investment from world ranked Banks.
LEASING FEE = 4% + 2%: MINIMUM and MAXIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M-20B
PURCHASING PRICE = 32% + 2% MINIMUM and MAXIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M-20B
Please contact for advise with full details for our financial solution services.
Michael David.
Contact Mail : riversfinancegroupplc@gmail.com
We specialized in Bank Guarantee {BG}, Standby Letter of Credit {SBLC}, Medium Term Notes {MTN}, Confirmable Bank Draft {CBD} as well as other financial instruments issued from AAA Rated bank such as HSBC Bank Hong Kong, HSBC Bank London, Deutsche Bank AG Frankfurt, Barclays Bank , Standard Chartered Bank and others on lease at the lowest available rates depending on the face value of the instrument needed.
ReplyDeleteWe deliver with time and precision as sethforth in the agreement. Our terms and Conditions are reasonable, below is our instrument description.
The procedure is very simple; the instrument will be reserved on euro clear to be verified by your bank, after verification an arrangement will be made for necessary bank documents and stock testing expenses, the cost of the Bank Guarantee will be paid after the delivery of the MT760.
DESCRIPTION OF INSTRUMENT:
Instrument: Bank Guarantee (BG/SBLC).
Total Face Value: Minimum of 1M Eur/USD (One Million Eur/USD) to Maximum of 5B Euro/USD(Five Billion Eur/USD).
Issuing Bank: HSBC London, Barclays Bank, Deutsche Bank Frankfurt, Hong Kong, Any AA rated Bank in Europe or any Top 25 WEB.
Age: One Year, One Day
Leasing Price: 4% of Face Value plus 1% commission fees to brokers.
Delivery: Bank to Bank SWIFT.
Payment: MT-760.
Hard Copy: Bonded Courier within 7 banking days.
All relevant business information will be provided upon request plus our terms and
procedures.
Contact name: Azra Ishaque
Email : lintel.financialservicesplc@gmail.com
Skype : lintel.financialservicesplc
We are direct providers of Fresh Cut BG, SBLC and MTN which are specifically for lease, our bank instrument can be engage in PPP Trading, Discounting, signature project(s) such as Aviation, Agriculture, Petroleum, Telecommunication, construction of Dams, Bridges, Real Estate and all kind of projects.
ReplyDeleteWe do not have any broker chain in our offer or get involved in chauffer driven offers. We deliver with time and precision as sethforth in the agreement. Our terms and Conditions are reasonable, below is our instrument description.
DESCRIPTION OF INSTRUMENTS:
1. Instrument: Bank Guarantee (BG/SBLC) (Appendix A)
2. Total Face Value: Eur 1 MIN and Eur 5B MAX (Five Billion USD).
3. Issuing Bank: HSBC, London or Deutsche Bank Frankfurt or any Top 25 WEB
4. Age: One Year, One Day
5. Leasing Price: 4% of Face Value plus 1% commission fees to brokers.
6. Delivery: SWIFT TO SWIFT.
7. Payment: MT-103.
8. Hard Copy: Bonded Courier within 7 banking days.
All relevant business information will be provided upon request.
Our BG/SBLC Financing can help you get your project funded, loan financing by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100% funding: For further details contact us with the below information.
Contact : Mr. Raymond Doison
Contact Email: crusaderbroker.bgassurance@gmail.com
skype:crusaderbroker.bgassurance@gmail.com
Whatsapp : +44 7459 947744
We are project funder as well as financial lender. We have BG/SBLC specifically for BUY/LEASE at a leasing price of 4%+2% of face value Issuance by HSBC London and many other 25 top AA rated Bank in Europe, Middle East or USA. We also secure funding. Also We are into the provision of short term and long term business/personal loans for both small and large scale business funds.
ReplyDelete* FOR LEASING OF BG/SBLC
MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
LEASING FEE = 4%+2%
* FOR PURCHASE OF FRESH CUT BG/SBLC
PRICE = 32%+2%
MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
Intermediaries/Consultants/Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together for the benefits of all parties involved.
Contact Name : Derek Byrne
Contact Email:
tclfinancialltd@gmail.com
Skype : tclfinancialltd@gmail.com
We are project funder as well as financial lender. We have BG/SBLC specifically for BUY/LEASE at a leasing price of 4%+2% of face value Issuance by HSBC London and many other 25 top AA rated Bank in Europe, Middle East or USA. We also secure funding. Also We are into the provision of short term and long term business/personal loans for both small and large scale business funds.
ReplyDelete* FOR LEASING OF BG/SBLC
MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
LEASING FEE = 4%+2%
* FOR PURCHASE OF FRESH CUT BG/SBLC
PRICE = 32%+2%
MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
Intermediaries/Consultants/Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together for the benefits of all parties involved.
Contact Name : Derek Byrne
Contact Email: tclfinancialltd@gmail.com
Skype : tclfinancialltd@gmail.com
We are Providers of all types of BG and SBLC with the best workable procedures. Our BG/SBLC ranges from MT799, MT760,(Both two way confirmation), MT103/23, MT103 (Both can be one way confirmation and two way confirmation) in USD and EUROS.
ReplyDeleteIssuing Bank ranges from Top world 25 banks with face value ranging from 1M EUROS/USD to 5B EUROS/USD
BROKERS ARE WELCOME & 100% PROTECTED!!!
Intermediaries/Consultants/Brokers are welcome to bring their clients and cases to our attention and in complete confidence
we will work together for the benefits of all parties involve
For further details contact us with the below information Thank you.
Contact Person: Mr. Carson Noah
Email: centuryfinanceplc@gmail.com
Skype ID: centuryfinanceplc
We are direct providers of Fresh Cut BG, SBLC and MTN which are specifically for lease, our bank instrument can be engage in PPP Trading, Discounting, signature project (s) such as Aviation, Agriculture, Petroleum, Telecommunication, construction of Dams, Bridges, Real Estate and all kind of projects. We do not have any broker chain in our offer or get involved in chauffer driven offers.
ReplyDeleteWe deliver with time and precision as sethforth in the agreement. Our terms and Conditions are reasonable, below is our instrument description.
The procedure is very simple; the instrument will be reserved on euro clear to be verified by your bank, after verification an arrangement will be made for necessary bank documents and stock testing expenses, the cost of the Bank Guarantee will be paid after the delivery of the MT760,
DESCRIPTION OF INSTRUMENTS:
1. Instrument: Bank Guarantee (BG/SBLC) (Appendix A)
2. Total Face Value: Eur 5M MIN and Eur 10B MAX (Ten Billion USD).
3. Issuing Bank: HSBC Bank London, Credit Suisse and Deutsche Bank Frankfurt.
4. Age: One Year, One Month
5. Leasing Price: 6% of Face Value plus 2% commission fees to brokers.
6. Delivery: Bank to Bank swift.
7. Payment: MT-103 or MT760
8. Hard Copy: Bonded Courier within 7 banking days.
We are ready to close leasing with any interested client in few banking days, if interested do not hesitate to contact me direct. brianjson19@gmail.com
Regards,
Brian
Skype;
brianjson19@gmail.com
Finding a genuine provider of financial instrument is very challenging but we are certified Financial Instrument providers in United Kingdom. Presently, we only focus on BG/SBLC for Lease and Sale transactions. However, our Lease BG/SBLC is 6+2% and Sale at 40+2%.
ReplyDeleteShould you find this interesting and acceptable? Kindly, contact us and we shall review and respond with draft Contract/MOU within 48hrs maximum.
Please request for full procedure details if interested.
For further inquiry contact:Wright James
Skype:
wrightjames931@gmail.com
Emai:
wrightjames931@gmail.com
We Offer Secured Verifiable BG/SBLC Instruments
ReplyDeleteWe are specialized in Bank Guarantee {BG}, Standby Letter of Credit {SBLC}, Medium Term Notes {MTN}, Confirmable Bank Draft {CBD} as well as other financial instruments issued from AAA Rated bank such as HSBC Bank Hong Kong, HSBC Bank London, Deutsche Bank AG Frankfurt, Barclays Bank , Standard Chartered Bank and others on lease at the lowest available rates depending on the face value of the instrument needed.
We deliver with time and precision as sethforth in the agreement. Our terms and Conditions are reasonable, below is our instrument description.
The procedure is very simple; the instrument will be reserved on euro clear to be verified by your bank, after verification an arrangement will be made for necessary bank documents and stock testing expenses, the cost of the Bank Guarantee will be paid after the delivery of the MT760.
DESCRIPTION OF INSTRUMENT:
Instrument: Bank Guarantee (BG/SBLC).
Total Face Value: Minimum of 1M Eur/USD (One Million Eur/USD) to Maximum of 5B Euro/USD(Five Billion Eur/USD).
Issuing Bank: HSBC London, Barclays Bank, Deutsche Bank Frankfurt, Hong Kong, Any AA rated Bank in Europe or any Top 25 WEB.
Age: One Year, One Day
Leasing Price: 4% of Face Value plus 1% commission fees to brokers.
Delivery: Bank to Bank SWIFT.
Payment: MT-760.
Hard Copy: Bonded Courier within 7 banking days.
All relevant business information will be provided upon request plus our terms and
procedures.
Contact name: David Verney
Email : davidverney18@gmail.com
skype davidverney18@gmail.com
GENERIC FINANCIAL MANAGEMENT PLC (Registered No 01911493)
THE OLD CHURCH VERULAM ROAD ST. ALBANS HERTFORDSHIRE, AL3 4DH GB
David Verney
davidverney18@gmail.com
If you are seeking a Bank Guarantee (BG), SBLC for Lease or Purchase, we are the best financial institution to help you to secure verifiable and easily monetized BG, SBLC and other financial instruments. we are a group of experienced bankers, seasoned brokers with years of experience in the financial instrument industry. We deal directly with reliable Providers of BG, SBLC, MT109, MT799, MT760, Sale and Lease of Financial Instruments issued by Top rated global banks.
ReplyDeleteOur procedure is TIME SAVING and transparent. With us, you can secure any denomination of BG / SBLC from 10M to 10B (EURO / USD) in time for use in Heavy / Light project financing anywhere in the world.
Basically, we are here to help you move your business to the next level.
Anticipating your interests,
Email:aafinancialconsultantltd.uk@gmail.com
Skype:d65e4bb0261e5ece
Dear Sir/Ma,
ReplyDeleteWe are genuine certified Financial Instrument providers. Presently, we only focus on BG/SBLC for Lease and purchase purposes. Our Lease BG/SBLC is 4+2% and purchase at 32+2%.
* FOR LEASING OF BG/SBLC
MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
LEASING FEE = 4%+2%
* FOR PURCHASE OF FRESH CUT BG/SBLC
PRICE = 32%+2%
MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
Kindly contact us for our procedures and be sure that we shall respond within 48hrs maximum.
Intermediaries/Consultants/Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together for the benefits of all parties involved.
Marco varetti
E-mail : marcovaretti411@gmail.com
Skype id : marcovaretti411@gmail.com
Contact us via. WhatsApp☎️: +40735740878
Contact us via Viber ☎️: +40725640432
Regards
Marco
Dear Sir/Ma,
ReplyDeleteWe are genuine certified Financial Instrument providers. Presently, we only focus on BG/SBLC for Lease and purchase purposes. Our Lease BG/SBLC is 4+2% and purchase at 32+2%.
* FOR LEASING OF BG/SBLC
MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
LEASING FEE = 4%+2%
* FOR PURCHASE OF FRESH CUT BG/SBLC
PRICE = 32%+2%
MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
Kindly contact us for our procedures and be sure that we shall respond within 48hrs maximum.
Intermediaries/Consultants/Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together for the benefits of all parties involved.
Rafferty Vandor
E-mail : raffertyvandor@gmail.com
Skype id : raffertyvandor@gmail.com
We are authorized Financial consulting firm that work directly with
ReplyDeletesome banks in UK.[Natwest Bank, Lloyds Bank.]
We are providing BG, SBLC, LC, LOAN and lots more for client all over the world.
Equally,we are ready to work with Brokers and financial
consultants/consulting firms in their respective countries.
We are equally ready to pay commission to those Brokers and financial
consultants/consulting firms.
Awaiting for your response.
Best regards,
Fady Marcel.
Issuing Bank/Provider Mandate.
Director-Finance&Strategy Ltd.
Surrey United Kingdom.
Email:immaculatefunds59@gmail.com
Skype:immaculatefunds59@gmail.com
GENUINE BANK GUARANTEE (BG) AND STANDBY LETTER OF CREDIT (SBLC) FOR LEASE AT THE LOWEST RATES AVAILABLE. OTHER FINANCIAL INSTRUMENTS SUCH AS MTN, CD, DLC, PB ARE ALSO AVAILABLE.
ReplyDeleteI am direct to a provider who has recently issued banking instruments for a couple of my clients the provider is 100% check-able you can do your due diligence on them. I personally know the provider.
Our instruments are only from triple 'a' rated banks and we issue from $1M to $5B . The provider is 100% verifiable. If you are genuinely seeking bank instruments. Contact me and i will furnish you with details.
They deal with issuing of instruments such as Bank Guarantee and Standby letters of credit also Letters of credit. I only want serious buyers then i will put you in touch with the provider directly.
- Bank Guarantee (BG)
- Standby Letter of Credit (SBLC)
- Direct Line of Credit (DLC)
- Medium Term Note (MTN)
- Letter of Credit (LC)
I will be glad to share with you our working procedures.
Contact : Robert Bouffad
Email: Lendingtreemoney@gmail.com
Skype: Robert Bouffad
BROKERS ARE WELCOME & 100% PROTECTED!!!
TESTIMONY ON HOW I GOT MY LOAN FROM A FINANCE COMPANY LAST WEEK Email for immediate response: drbenjaminfinance@gmail.com
ReplyDelete{Dr.Benjamin Scarlet Owen} can also help you with a legit loan offer. He Has also helped some other colleagues of mine. If you need a genuine loan without cost/stress he his the right loan lender to wipe away your financial problems and crisis today. BENJAMIN LOAN FINANCE holds all of the information about how to obtain money quickly and painlessly via WhatsApp +19292227023 Email drbenjaminfinance@gmail.com