Volume 06/2012 June 2012

Major Economic Indicators: Monthly Update

Monetary Policy Department

BANGLADESH BANK
 ContentsPage No.
Executive summary…………………………………………………………………….. 1-2
1. Monetary and credit developments…………………………………………………..…. 3

2. Reserve money developments………………………………………………………….... 4

3. CPI and inflation……………………………………………………………………......... 5

4. Liquidity position of scheduled banks………………………………………………..…. 6

5. Financial sector prices………………………………………………………………….... 7

6. Capital market developments…….………………………………………………….….. 8

7. Agricultural credit……….………………………………………………………….…… 9

8. a) Industrial term loan

b) Outstanding position of SME loan .……………………………………………….... 10

9. Exports
a) Annual and monthly trends in exports………………………………………………… 11
b) Category-wise breakdown of exports………………………………………………..... 12
10. Imports
a) Import payments, L/Cs settlement and L/Cs opening.………………………………... 13
b) Sector-wise fresh opening, settlement and outstanding L/Cs.………………………… 14
c) Projected data on opening of import L/Cs & probable liabilities against BTB L/Cs..... 14

11. Remittances……………………………………………………………………………. 15

12. Foreign exchange holdings abroad……………………………………………………. 15

13. Foreign aid ………………………..…………………………………………………….. 16

14. Exchange rate movements……………………………………………………………… 17

15. Balance of payments……………………………………………………………………. 18

16. Public finance

a) Government tax revenue collections…………………………………………………. 19
b) Sale and repayment of NSD certificates……………………………………………… 20
c) Budget financing……………………………………………………………………… 21

17. Food situation…………………………………………………………………………… 21

18. Industrial production………………………………………………………………….. 22

Appendix……………………………………………………………………………... 23-24
 Executive summary

1. Monetary indicators

Broad money growth slowed to 17.17 per cent (year-on-year) in April

2012 from 22.86 per cent in April 2011 due mainly to slower growth
in NDA (18.84 per cent) from its level of 26.45 per cent a year ago.
Broad money growth
slowed. Net credit to
government is still
Domestic credit growth was lower at 21.04 per cent in April 2012
high while private than the actual growth of 29.18 per cent in April 2011 (y-o-y basis).
sector credit Though growth in credit to government sector was higher (41.10 per
dampened. cent), low credit growth in other public sector (2.34 per cent) and
private sector (18.22 per cent) compared to the growth of their
matching period a year ago caused domestic credit to grow slow in
April 2012 (y-o-y basis).

2. Inflation scenario

Despite a rise in non-food inflation, the annual average rate of

inflation fell slightly to 10.76 per cent in May 2012 from 10.86 per
cent in April 2012 due to a decrease in food inflation. The rate of
inflation on point to point basis also fell to 9.15 per cent in May 2012
from 9.93 per cent in April 2012 helped by the decline in both food
Overall Inflation is in
downward trend, but and non-food inflation. Food inflation moderated in recent time as
non-food inflation still domestic food supply situation improved due to satisfactory domestic
remains a challenge. food production and the expansion of public food distribution
channels. At the beginning of FY12, non-food inflation was
increasing mainly due to upward adjustment in administered fuel and
power prices. Though non-food inflation on the point to point basis is
in downward trend from March 2012. We expect the declining trend
in non-food inflation will continue in the rest of the months of FY12
in light of the restrained monetary stance implementing by BB.

3. External sector scenario

Export growth which was double digit until recent past, slowed down
to a single digit (7.00 per cent) during the first eleven month of FY12
against the same period of FY11. Except a few, all the export items
registered positive growth in July-May, 2012 with some high value
items including woven garments and leather. Jute sector has been
experiencing negative growth for the last few months.

Import payments increased by USD 2397.90 million or 8.73 per cent

Trade deficits
to USD 29853.20 million during July-April, 2011-12 compared to
widened and Current 41.44 per cent growth during July-April, 2010-11. Import LCs
account surplus opening during July-April, 2011-12 declined by 6.93 per cent
improved. compared to the same period of 2010-11.
1
 Remittance receipts during July-May, 2011-12 increased by 10.94
per cent to USD 11772.57 million compared to the growth of 5.11 per
cent during July-May, 2010-11.

Aid disbursements between July-May, 2011-12 was higher by USD

258.31 million or 17.69 per cent than the figure of the same period last
year.

Gross foreign exchange reserves of the BB stood at USD 9520.43

million (with ACU liability of USD 336.91 million) as of end May
2012, against USD10193.04 million (with ACU liability of USD
732.39 million) by the end of April 2012. Gross foreign exchange
reserves, without ACU liability is equivalent to import payments of
exactly 3.06 months based on the preceding 12 months average. BOP
shows that higher earnings from remittances again succeeded in
keeping current account balance positive by USD 509 million in July-
April, 2011-12, higher than the level of USD 376 million of July-
April, 2010-11.

4. Fiscal developments

Total tax revenue collection in April 2012 increased by 24.90 per

cent to Tk.8489.88 crore from April 2011 level. NBR tax revenue
collection in May 2012 was 18.26 per cent higher than the collection
NBR tax revenue of May 2011. The NBR tax revenue collection during July-May,
collection in the first 2011-12 stood at Tk.80422.84 crore which is higher by Tk.13087.48
ten months of FY12 is crore or 19.44% against the collection of Tk.67335.36 crore in July-
77.35% of the target. Mays, 2010-11. Target for NBR tax revenue collection for FY
Govt. borrowing from 2011-12 remains fixed at Tk. 91870.00 crore.
NSD certificates is
improving. Net borrowing of the government through NSD certificates during
July-April, 2011-12 remained positive and stood at Tk. 379.64 crore.
The positive impact of upward revision of the rate of NSD certificates
was reflected in the rise of sale of NSD figures for March & April
2012.

2
1. Monetary and credit developments
(In crore taka)
Outstanding stock Changes in Outstanding stock
Particulars April July-Apr., Apr., 2012 July-Apr., Apr., 2011
June, 2010 June, 2011R FY 2010-11
2012P 2011-12 over Apr., 2011 2010-11 over Apr., 2010
1 2 3 4 5 6 7 8
A. Net Foreign Assets of
banking system 67073.70 70620.00 75122.10 3546.30 4502.10 5978.80 2069.60 4735.30
(+5.29) (+6.38) (+8.65) (+3.09) (+7.35)
B. Net Domestic Assets
of banking system 295957.50 369899.90 418685.00 73942.40 48785.10 66366.70 56360.80 73685.40
(+24.98) (+13.19) (+18.84) (+19.04) (+26.45)
a) Domestic credit 340213.70 433525.90 499536.00 93312.20 66010.10 86833.00 72489.30 93217.80
(+27.43) (+15.23) (+21.04) (+21.31) (+29.18)
Public sector 69453.00 92813.20 108872.20 23360.20 16059.00 26629.80 12789.40 18961.10
(+33.63) (+17.30) (+32.38) (+18.41) (+29.96)
Govt.(net) 54392.30 73436.10 89934.10 19043.80 16498.00 26196.70 9345.10 15960.30
(+35.01) (+22.47) (+41.10) (+17.18) (+33.41)
Other Public 15060.70 19377.10 18938.10 4316.40 -439.00 433.10 3444.30 3000.80
(+28.66) (-2.27) (+2.34) (+22.87) (+19.35)
Private sector 270760.70 340712.70 390663.80 69952.00 49951.10 60203.20 59699.90 74256.70
(+25.84) (+14.66) (+18.22) (+22.05) (+28.98)
b) Other items (net) -44256.20 -63626.00 -80851.00 -19369.80 -17225.00 -20466.30 -16128.50 -19532.40
(+43.77) (+27.07) (+33.89) (+36.44) (+47.81)
C. Broad money (A+B) 363031.20 440519.90 493807.10 77488.70 53287.20 72345.50 58430.40 78420.70
(+21.34) (+12.10) (+17.17) (+16.10) (+22.86)
i) Currency outside banks 46157.10 54795.10 57264.10 8638.00 2469.00 4910.10 6196.90 10023.90
(+18.71) (+4.51) (+9.38) (+13.43) (+23.68)
ii) Deposits 316874.10 385724.80 436543.00 68850.70 50818.20 67435.40 52233.50 68396.80
(+21.73) (+13.17) (+18.27) (+16.48) (+22.75)
a) Demand deposits 41831.30 48305.90 48602.10 6474.60 296.20 2411.50 4359.30 9152.30
(+15.48) (+0.61) (+5.22) (+10.42) (+24.71)
b) Time deposits 275042.80 337418.90 387940.90 62376.10 50522.00 65023.90 47874.20 59244.50
(+22.68) (+14.97) (+20.14) (+17.41) (+22.47)
Source: Statistics Department. Note:Figures in brackets indicate percentage changes over end June of previous fiscal year. P=Provisional. R = Revised

Broad Money Growth (y-o-y % changes)

Broad money 24
23
Broad money recorded an increase of Tk.72345.50 crore 22
or 17.17 per cent at the end of April 2012 against the 21
increase of Tk. 78420.70 crore or 22.86 per cent at the 20
end of April 2011. Of the sources of broad money, net 19
domestic assets (NDA) rose by Tk. 66366.70 crore or 18
18.84 per cent and net foreign assets (NFA) increased by 17 Apr' 12.
Jun' 10
July' 10

Jan' 11

Dec' 11

Mar' 12
Sep' 10

Dec' 10

May' 11

Aug' 11

Oct' 11
Nov' 11

Feb' 12
Aug' 10

Oct' 10
Nov' 10

Apr' 11

Jun' 11
July' 11

Jan' 12
Mar' 11
Feb' 11

Sep' 11

Tk. 5978.80 crore or 8.65 per cent. Increase in NFA eased

pressure on external sector as well as on liquidity
position.
Domestic Credit Growth (y-o-y % changes)
31
Domestic credit
29
27
Domestic credit recorded an increase of 21.04 per cent at
25
the end of April 2012 against the increase of 29.18 per 23
cent in corresponding time last year (y-o-y basis). The 21
rise in domestic credit at the end of April 2012 was due to 19
the rise of private sector credit by 18.22 per cent and 17
15
credit to the Govt. (net) by 41.10 per cent.
Apr' 12.
Jun' 10
July' 10

Jan' 11

Dec' 11

Mar' 12
Dec' 10

Apr' 11
May' 11

Aug' 11

Oct' 11
Sep' 10

Nov' 11

Feb' 12
Aug' 10

Oct' 10

Mar' 11

Jun' 11
July' 11
Nov' 10

Jan' 12
Feb' 11

Sep' 11

3
2. Reserve money developments
(In crore taka)
Outstanding stock Changes in outstanding stock
Particulars April July-Apr., Apr., 2012 July-Apr., Apr., 2011
June, 2010 June, 2011R FY 2010-11
2012P 2011-12 over Apr., 2011 2010-11 over Apr., 2010
1 2 3 4 5 6 7 8
Net Foreign Assets of
Bangladesh Bank 61204.90 61388.70 65226.80 183.80 3838.10 3826.30 195.60 2253.30
(+0.30) (+6.25) (+6.23) (+0.32) (+3.81)
Net Domestic Assets of
Bangladesh Bank 12937.90 28345.70 26465.00 15407.80 -1880.70 4638.00 8889.10 10428.30
(+119.09) (-6.63) (+21.25) (+68.71) (+91.49)
Claims on Govt.(net) 22320.60 32049.70 34227.70 9729.10 2178.00 10019.30 1887.80 8568.40
(+43.59) (+6.80) (+41.39) (+8.46) (+54.79)
Claims on other public 830.70 736.70 984.00 -94.00 247.30 38.70 114.60 150.60
(-11.32) (+33.57) (+4.09) (+13.80) (+18.95)
Claims on DMBs 6613.90 18608.80 21582.90 11994.90 2974.10 4864.30 10104.70 10956.80
(+181.36) (+15.98) (+29.10) (+152.78) (+190.16)
Other items (net) -16827.30 -23049.50 -30329.60 -6222.20 -7280.10 -10284.30 -3218.00 -9247.50
Reserve money 74142.80 89734.40 91691.80 15591.60 1957.40 8464.30 9084.70 12681.60
(+21.03) (+2.18) (+10.17) (+12.25) (+17.98)
Currency Issued 50465.40 60526.90 63797.10 10061.50 3270.20 6853.10 6478.60 10615.50
(+19.94) (+5.40) (+12.03) (+12.84) (+22.91)
i) Currency outside banks 46157.10 54795.10 57264.10 8638.00 2469.00 4910.10 6196.90 10023.90
(+18.71) (+4.51) (+9.38) (+13.43) (+23.68)
ii) Cash in tills 4308.30 5731.80 6533.00 1423.50 801.20 1943.00 281.70 591.60
(+33.04) (+13.98) (+42.33) (+6.54) (+14.80)
Deposits held with BB 23677.40 29207.50 27894.70 5530.10 -1312.80 1611.20 2606.10 2066.10
(+23.36) (-4.49) (+6.13) (+11.01) (+8.53)
Of which: Excess reserves 6035.40 4082.50 -662.40 -1952.90 -4744.90 -2901.70 -3796.10 -6418.40
(-32.36) (-116.23) (-129.58) (-62.90) (-74.14)
Reserve money multiplier 4.90 4.91 5.39 0.01 0.48 0.32 0.17 0.20

Source: Statistics Department. Note:Note:Figures in brackets indicate percentage changes over end June of previous fiscal year. P=Provisional. R = Revised

Reserve Money

Reserve money recorded an increase of 10.17 per cent at Reserve Money Growth ( y-o-y % changes)
30
the end of April 2012 (y-o-y basis) compared to the
increase of 17.98 per cent in the corresponding time last 25
year. The increase of reserve money growth occured
mainly due to increase in net domestic assets of 20
Bangladesh Bank by Tk. 4638.00 crore or 21.25 per cent.
15
Net foreign assets of Bangladesh Bank also increased by
Tk. 3826.30 crore or 6.23 per cent during the period 10
under report.
5
Dec.11
July' 10

Jan.12
Feb.12

Apr.12
Oct' 10

Dec' 10

Apr' 11

Jun' 11

Sep. 11

Nov. 11

Mar.12
Jun' 10

Aug' 10

Nov' 10

Jan' 11
Feb' 11
Mar' 11

May' 11

July' 11

Oct. 11
Sep' 10

Aug. 11

Reserve money multiplier increased to 5.39 at the end of

April 2012 from 4.91 of end June 2011.

4
3. CPI and Inflation
Consumer Price Index(CPI) and Rate of Inflation at National Level (Base : FY96=100)
Twelve-Month Average Basis Twelve-Month Point to Point Basis
Period General Food Non-food General Food Non-food
Index Inflation Index Inflation Index Inflation Index Inflation Index Inflation Index Inflation
2008-2009 206.43 6.66 221.64 7.19 186.67 5.91 208.02 2.25 222.13 0.25 189.98 5.94
2009-2010 221.53 7.31 240.55 8.53 196.84 5.45 226.11 8.70 246.29 10.88 199.94 5.24
2010-11
July 222.82 7.63 242.23 8.98 197.62 5.54 229.55 7.26 251.59 8.72 200.65 4.87
August 224.18 7.87 244.12 9.38 198.23 5.47 233.31 7.52 257.44 9.64 201.46 3.76
September 225.58 8.12 246.05 9.78 198.83 5.41 236.53 7.61 262.23 9.72 202.29 3.69
October 226.85 8.12 247.77 9.83 199.45 5.31 238.68 6.86 265.16 8.43 203.03 3.82
November 228.25 8.14 249.74 9.98 200.00 5.04 238.89 7.54 265.22 9.80 203.43 3.33
December 229.78 8.13 251.96 10.12 200.54 4.73 240.75 8.28 268.19 11.01 203.71 3.27
January 231.46 8.14 254.36 10.24 201.17 4.51 242.48 9.04 270.44 11.91 204.88 3.85
February 233.27 8.21 256.93 10.40 201.89 4.37 244.28 9.79 272.57 12.77 206.15 4.36
March 235.22 8.36 259.72 10.67 202.60 4.27 245.97 10.49 274.99 13.87 206.65 4.32
April 237.20 8.54 262.60 11.00 203.26 4.15 246.24 10.67 275.02 14.36 207.23 3.97
May 239.10 8.67 265.26 11.20 204.06 4.10 246.39 10.20 273.95 13.16 209.24 4.78
June 241.02 8.80 267.83 11.34 205.01 4.15 249.11 10.17 277.11 12.51 211.39 5.73
P
2011-12
July 243.11 9.11 270.64 11.73 206.09 4.29 254.72 10.96 285.31 13.40 213.61 6.46
August 245.31 9.43 273.36 11.98 207.56 4.71 259.66 11.29 290.13 12.70 219.11 8.76
September 247.67 9.79 276.37 12.32 209.04 5.14 264.85 11.97 298.29 13.75 220.04 8.77
October 249.94 10.18 279.20 12.69 210.57 5.58 265.94 11.42 299.15 12.82 221.41 9.05
November 252.25 10.51 281.95 12.90 212.29 6.15 266.55 11.58 298.29 12.47 224.16 10.19
December 254.38 10.71 284.28 12.83 214.23 6.83 266.34 10.63 296.08 10.40 226.89 11.38
January 256.72 10.91 286.73 12.73 216.48 7.61 270.59 11.59 299.91 10.90 231.84 13.16
February 258.84 10.96 288.76 12.39 218.81 8.38 269.76 10.43 296.88 8.92 234.13 13.57
March 260.91 10.92 290.66 11.91 221.21 9.19 270.81 10.10 297.77 8.28 235.5 13.96
April 262.95 10.86 292.52 11.39 223.59 10.00 270.68 9.93 297.36 8.12 235.77 13.77
May 264.83 10.76 294.22 10.92 225.81 10.66 268.93 9.15 294.39 7.46 235.86 12.72
Source : Bangladesh Bureau of Statistics. Note : P = Provisional; R=Revised.

The annual average rate of inflation (12-month CPI Inflation (12-month average & P to P)
annual average CPI, 1995-96=100) falls to 10.76 14
per cent in May 2012 from 10.86 per cent of 13
Average P to P
April 2012, due to a decrease in food inflation; 12
11
non food inflation however, increases from 10.00
10
per cent in April 2012 to 10.66 per cent in May
9
2012. The rate of inflation on point to point 8
basis, also falls to 9.15 per cent in May 2012 7
from 9.93 per cent in April 2012, due to decrease 6

in both food and non food inflation. In May, the 5

4
inflation rate on point to point basis continues to
Ma r.11

June 11

Ma r.12

Ma y 12
Jun.10

Dec. 10

Apr.12
Sep. 10

Sep. 11

Dec.11

be a single digit like last few months. However

the rate still remains double digit on average
basis.

5
4. Liquidity position of the scheduled banks
(Tk. in crore)
As of end June, 2011 P
As of end May, 2012
Total Required Cash in tills+ Balances with Unencumbered Total Required
Bank Group Liquid Liquidity balances with Bangladesh Bank approved Liquid Liquidity
Assets (SLR) Sonali Bank securities Assets (SLR)
1 2 3 4 5 6 7=(4+5+6) 8

State owned Banks 30146.85 19228.08 1286.82 5713.36 26979.29 33979.47 21994.34

Private Banks
(Other than Islamic) 47857.65 34591.75 3601.74 15657.83 37781.86 57041.43 39710.40

Private Banks
(Islamic) 13418.07 6386.33 1208.43 7062.59 3181.32 11452.34 9004.95

Foreign Banks 7969.63 5273.29 403.06 4893.41 4634.25 9930.72 5841.42

Specialised Banks* 1172.76 1014.30 331.32 1424.72 987.47 2743.51 2223.00

Total 100564.96 66493.75 6831.37 34751.91 73564.19 115147.47 78774.11

(+5.93) (+30.18) (+63.89)
Source : Department of Offsite Supervision. Note :- Figures in brackets indicate sectoral share in the total liquid assets. P=provisional
* SLR does not apply to Specialised banks (except BASIC Bank ) as exempted by the Government .

liquid assets & required liqidity Sectoral distribution of total liquid assets
1400 (as of end May, 2012)
1200
Cash in
1000 tills+balances
Un-encumbered
billion taka

800 with
Approved SB (5.93%)
600 securities
400 (63.89%)

200
0
Sep.'11

May'12
July'11

Nov.'11

Apr'12
June'11

Jan.'12
Aug.'11

Oct.'11

Feb.'12
Mar.'12
Dec.'11

Balances
with BB
(30.18%)
Liquid assets SLR

Total liquid assets of the scheduled banks stands higher at Tk.115147.47 crore as of end May, 2012
against Tk.100564.96 crore as of end June, 2011. Required liquidity of the scheduled banks also
stands higher at Tk.78774.11 crore as of end May, 2012 against Tk.66493.75 crore as of end June,
2011.

Scheduled banks holding of liquid assets as of end May, 2012 in the form of cash in tills & balances
with Sonali bank, balances with Bangladesh Bank and unencumbered approved securities are 5.93
percent, 30.18 percent and 63.89 percent respectively of total liquid assets.
6
5. Financial Sector Prices:
a) Interest Rate Development 1/:
Treasury Bills BB Bills BGTB Repo Rev. Repo Lending Deposit
Period Call Money
91-Day 182-Day 364-Day 30-Day 5-Year 10-Year 15-Year 20-Year 1-3 Day 1-3 Day Rate Rate
2010-11 R
July 2.43 3.51 4.24 2.53 7.88 8.79 8.84 9.20 4.50 2.50 3.33 … …
August … … … … 7.88 8.82 8.86 9.23 5.50 3.50 6.36 … …
September … … … 3.50 7.93 8.85 8.91 9.24 5.50 3.50 6.97 11.17 6.00
October 2.94 3.75 4.45 3.50 7.96 8.85 8.94 9.25 5.50 3.50 6.19 … …
November 3.72 4.16 4.65 3.50 8.00 8.89 9.05 9.41 5.50 3.50 11.38 … …
December 4.58 4.85 5.50 … 8.10 9.45 9.11 9.56 5.50 3.50 33.54 11.19 6.08
January 5.11 5.39 5.94 … 8.25 9.50 … 9.60 5.50 3.50 11.64 11.34 6.39
February 5.25 5.50 6.00 … 8.25 9.45 9.12 9.60 5.50 3.50 9.54 11.41 6.54
March 5.48 5.63 6.20 … 8.26 9.36 9.20 9.63 6.00 4.00 10.35 11.95 6.81
April 5.98 6.03 6.67 … 8.26 9.45 9.30 9.65 6.25 4.25 9.50 12.02 7.06
May 6.45 6.63 6.97 … 8.26 9.45 9.35 9.65 6.25 4.25 8.64 12.17 7.24
June 6.75 7.00 7.30 … 8.26 9.45 9.35 9.65 6.75 4.75 10.93 12.42 7.27
2011-12P
July 7.04 7.28 7.60 … 8.26 9.45 --- 10.00 6.75 4.75 11.21 12.55 7.32
August 7.40 7.65 7.90 … 8.30 9.50 9.65 10.25 6.75 4.75 12.02 12.63 7.40
September 7.73 8.30 8.65 … 8.35 9.53 10.30 10.85 7.25 5.25 10.41 12.72 7.42
October 8.12 8.40 8.65 --- 8.50 9.55 10.99 11.50 7.25 5.25 9.77 12.80 7.46
November 8.73 8.90 9.13 --- 8.50 9.55 11.00 11.50 7.25 5.25 12.70 12.83 7.53
December 9.50 9.18 10.00 --- 8.50 9.55 11.00 11.50 7.25 5.25 17.15 13.01 7.55
January 10.50 10.63 10.88 --- 9.00 11.25 11.50 11.95 7.75 5.75 19.66 13.43 7.86
February 11.00 11.23 11.31 --- 11.25 11.35 11.60 12.00 7.75 5.75 18.18 13.63 7.95
March 11.00 11.20 11.25 --- 11.30 11.40 11.65 12.03 7.75 5.75 12.51 13.69 8.11
April 11.21 11.29 11.33 --- 11.37 11.50 11.70 12.07 7.75 5.75 13.98 13.72 8.17
May 11.34 11.36 11.37 11.40 11.56 11.75 12.10 7.75 5.75 15.05 ---- ----
June@ 11.37 11.40 11.40 11.45 11.60 11.80 12.12 7.75 5.75 15.03 ---- ----
Source: MPD, DMD, Statistics Departm ent, Bangladesh Bank . 1/ Weighted average rate, P=Provisional; R=Revised, '@ = upto 26th June, 2012

Repo, Reverse Repo & Call MoneyRate

Repo rate (1-3 Day tenure) and reverse repo rate (1-3 Day 25
Repo Reverse Repo Call Money
tenure) increased by 50 basis point at 7.75 percent and 5.75
W. average rate in percentage
21

percent from 8 January, 2012 as compared to 7.25 percent 17

and 5.25 percent respectively in 5 January, 2012. The 13

weighted average call money rate in the inter-bank money
9
market stood at 15.03 percent in June 2012.
5

The weighted average yield on 30-Day Bangladesh Bank 1

Jul. 11

Aug.11

Nov.11

Feb.12
Oct.11

May.12

Jun.12
Sep.11

Dec.11

Jan.12

Apr.12
Mar.12
bill was at 3.50 percent at November 2010. The 30-Day BB
u
Bill has not been issued since December, 2010.
Yield on Treasury Bills
12

The weighted average yield on 91-Day, 182-Day and 364- 11

91-day
W.Ave. yield in percentage

182-day
Day treasury bill increased to 11.37 per cent, 11.40 per cent 364-day
10
and 11.40 per cent respectively in June 2012 as compared to
11.34 per cent,11.36 per cent and 11.37 per cent 9

respectively of May, 2012 . 8

7
The weighted average yield on 5-Year BGTB, 10-Year
6
BGTB , 15-Year BGTB and 20-Year BGTB increased to
Jul. 11

Aug.11

Nov.11

Feb.12
Oct.11

May.12

Jun.12
Sep.11

Jan.12

Mar.12

Apr.12
Dec.11

11.45 per cent, 11.60 per cent, 11.80 per cent and 12.12 per
cent respectively in June, 2012 as compared to 11.40 per 15
Lending & Deposit Rate

cent , 11.56 per cent, 11.75 per cent and 12.10 per cent Lending rate Deposit rate

respectively of May, 2012. 13

W. Ave. rate in percentage

11
The weighted average lending rate of scheduled banks
slightly rises to 13.72 per cent in April 2012 compared to 9

13.69 per cent in March 2012. The weighted average 7

deposits rate of scheduled banks also rises to 8.17 per cent
in April 2012 compared to 8.11 per cent in March 2012. The 5
June' 11

Nov.' 11

Dec.' 11

Jan.' 12
July' 11

Sep.' 11

Feb.' 12
Apr' 11

May' 11

Aug.' 11

Oct.' 11

Mar'12

Apr' 12

spread of lending and deposit rate has declined from 5.68%

in February 2012 to 5.55% in April 2012.
7
6. Capital market developments

Annual capital market developments (DSE)

(In crore taka)
Calender Year Enlisted Issues Issued Capital Market Turnover during General Index
(Incl.Mut-Funds/Deb.) and Debentures Capitalisation the Year
2009 415 52163.20 188449.30 147530.10 4535.53
2010 445 66436.00 347250.20 400991.28 8290.41
2011 501 87890.50 261673.00 156055.63 5257.61

Monthly capital market developments(DSE)

(In crore taka)
Month Enlisted issues Issued capital Market Turnover during General Index
(End Month) (Incl.Mut-Funds/Deb.) and debentures capitalisation the month
February, 11 476 71931.60 234935.30 11488.71 5203.08
March, 11 476 73790.60 279122.00 21712.51 6352.10
April, 11 486 77846.80 266833.00 15628.44 6050.85
May, 11 489 79613.70 259882.40 9221.13 5758.26
June, 11 490 80683.90 285389.00 13465.05 6117.23
July, 11 487 82574.20 301073.60 29817.30 6459.62
August, 11 493 84305.80 295786.00 8864.87 6212.00
September, 11 494 84743.80 283321.00 7057.25 5910.20
October, 11 494 86181.90 252535.00 6999.04 5036.50
November, 11 501 87136.60 262409.00 6951.49 5268.55
December, 11 501 87890.50 261673.00 6152.98 5257.61
January, 12 502 88093.80 223035.00 8877.05 4153.96
February, 12 503 88170.30 242264.00 5724.37 4695.41
March, 12 504 90415.30 257211.00 8412.31 4990.32
April, 12 507 91391.20 265918.00 17660.27 5098.90
May, 12 508 92618.20 253204.00 6691.82 4734.33
Source : Dhaka Stock Exchange.

Trends in market Capitalisation and Indices of DSE

The General index at the end of April, 2012 310000 7000
Capitalisation Index
stands higher at 5098.9 compared to 4990.32 at 280000
6500

the end of March, 2012. Total market 6000

capitalization of all shares and debentures of the 250000
5500
Crore taka

Indices

listed securities at the end of April, 2012 also 220000 5000

stands higher at Tk. 265918.00 crore, indicating 4500
190000
Tk.8707.00 crore or 3.39 per cent higher than
4000
Tk.257211.00 crore at the end of March, 2012. 160000
3500

130000 3000
Apr. 12
Jan. 12

May. 12
July 11

Sep. 11
Oct. 11
Nov. 11

Feb. 12
Mar. 12
May 11
June 11

Aug. 11

Dec. 11

8
7. Agricultural credit and non-farm rural credit

a. Agricultural credit (In crore taka)

2011-12P 2010-11R
Month
Disbursement Recovery Disbursement Recovery
July 469.05 1545.79 683.08 1067.53
August 497.79 492.73 520.34 429.28
September 809.27 633.55 788.32 933.36
October 812.35 796.46 855.89 695.82
November 1153.49 744.96 959.35 846.05
December 1258.97 1161.83 1295.43 1120.53
January 758.89 761.69 689.87 552.25
February 897.43 919.80 728.47 658.06
March 1349.43 680.86 1022.14 1308.38
April 920.67 1067.59 372.93 250.41
May 1103.69 871.83 744.84 817.96
10031.02 9677.08 8660.66 8679.62
July - May
(+15.82) (+11.49) (+7.71) (+17.45)
b. Non-farm rural credit (In crore taka)
P
2011-12 2010-11R
Month
Disbursement Recovery Disbursement Recovery
1422.00 1346.09 1344.40 1618.91
July - May
(+5.77) (-16.85) (-27.26) (-1.97)

Programmed level for disbursement of agricultural credit and

non-farm rural credit during FY 2011-12=Tk.13800.00 crore.
Overdue and outstanding (In crore taka)

Year 2011-2012P 2010-2011R

overdue as % overdue as %
End-Month overdue outstanding overdue outstanding
of outstanding of outstanding
6220.92 24730.56 25.15 5777.09 23388.84 24.70
May
(+7.68) (+5.74) (-7.22) (+9.14)
Source: Agricultural Credit & Financial Inclusion Department. P = Provisional ; R=Revised
Note:- Figures in brackets indicate percentage changes over the corresponding period of the preceding year.

Disbursement of agricultural credit during July-May, 2011-12 was higher by 15.82 percent and
recovery increased by 11.49 percent relative to the same period last year. Disbursement under "non-
farm rural credit" (loan for poor rural people for income generating activities) during the same period
increased by 5.77 percent.

9
8. a) Industrial term loans
(Tk. in crore)
Year Disbursement Recovery
Yearly 2008-09 19972.69 16302.48
2009-10R 24487.71 19304.98
2010-11P 32163.20 25015.89
(Tk. in crore)
Disbursement Recovery
Quarter
LSI MSI SSCI Total LSI MSI SSCI Total
FY 2010-11P 21958.27 7960.85 2244.08 32163.20 17671.16 5588.82 1755.91 25015.89
Quarterly July-September, 2010 5350.75 1663.12 459.64 7473.51 4373.44 1250.61 289.82 5913.87
October-December, 2010 6023.62 2880.72 545.85 9450.19 4615.85 1297.58 620.45 6533.88
January-March, 2011 5316.43 1636.85 610.73 7564.01 4779.47 1646.91 430.85 6857.23
April - June, 2011P 5267.47 1780.16 627.86 7675.49 3902.40 1393.72 414.79 5710.91
FY 2011-12P 15975.32 7336.08 1748.49 25059.89 13172.92 7323.97 1851.02 22347.91
July-September, 2011 5019.20 1874.81 543.43 7437.44 3817.26 2492.25 501.37 6810.88
October-December, 2011 5706.32 3468.64 692.88 9867.84 4803.29 2712.73 844.96 8360.98
January-March, 2012 5249.80 1992.63 512.18 7754.61 4552.37 2118.99 504.69 7176.05
Overdue and Outstanding (Tk. in crore)
Overdue Outstanding
End March 2012P LSI MSI SSCI Total LSI MSI SSCI Total
4372.97 2010.78 606.49 6990.24 50002.39 19895.36 7505.31 77403.06
(+8.75) (+10.11) (+8.08) (+9.03)
Source: SME & Special Programmes Department.
Note:- Figures in brackets indicate overdue as % of outstanding. LSI=Large Scale Industries, MSI=Medium Scale Industries, SSCI= Small Scale & Cottage Industries.

Disbursement of industrial term loans during January-March 2012 stands higher at Tk. 7754.61 crore as
compared to Tk. 7564.01 crore during January-March, 2011. On the other hand, recovery of industrial term
loans is higher at Tk. 7176.05 crore during January-March 2012 against Tk.6857.23 crore during January-
March, 2011. Overdue of industrial term loans at the end of March, 2012 stands at Tk. 6990.24 crore which
was 9.03 per cent of the outstanding position at the end of March, 2012.

8. b) Outstanding position of SME loans

Total SME loans increased by Tk.20059.70 crore or 29.24 per cent to Tk.88670.26 crore at the end of March,
2012 as compared to Tk.68610.56 crore at the end of March, 2011. The increase of institutional category-
wise SME loans at the end of March, 2012 are 41.37% in private banks , 16.91% in specialised banks, 6.25%
in foreign banks, 12.82% in state owned banks and 8.95% in non-bank financial institutions as compared to
March, 2011. The percentage share of SME loans in total loans for each category of institutions at the end of
March, 2011 and at the end of March, 2012 are shown in the following pie-diagrams.
(Tk. in crore)
Banks/Financial Institutions Types of State Owned Private Foreign Spcialised Non-Bank SME loans as % of respective total loans (March, 2011)
NBFIs
Total State owned
Quarter Ending Loans Banks Banks Banks Banks Fin. Ins. (13.91%)
banks
Total Loans 73730.09 213032.68 18797.68 20944.61 18140.55 344645.61 (27.37%)
March, 2011 SME Loans 20181.13 39644.23 2011.15 4249.84 2524.21 68610.56
(27.37) (18.61) (10.70) (20.29) (13.91) (19.91)
Specialised
Total Loans 78557.74 219788.24 20812.24 22462.76 18943.22 360564.20 banks
June, 2011 SME Loans 21845.81 41332.98 1936.08 4541.94 2883.44 72540.25 (20.29%)

(27.81) (18.81) (9.30) (20.22) (15.22) (20.12)

Foreign banks Private banks
Total Loans 79021.08 227424.18 20759.36 22510.91 19876.52 369592.05 (10.70%) (18.61%)
September, 2011P SME Loans 22290.55 46121.34 1995.67 5017.28 2954.9 78379.74
(28.21) (20.28) (9.61) (22.29) (14.87) (21.21)
Total Loans 81405.37 244335.67 21165.99 22994.08 20826.99 390728.10 SME loans as % of respective total loans (March, 2012)
NBFIs
December, 2011P SME Loans 23244.5 48429.16 2085.89 4768.3 2571.38 81099.23 (12.76%) State owned
banks
(28.55) (19.82) (9.85) (20.74) (12.35) (20.76) (27.13%)
Total Loans 83909.00 255241.11 22376.50 23599.77 21548.18 406674.56
March, 2012P SME Loans 22768.27 56046.50 2136.80 4968.64 2750.05 88670.26
Specialised
(27.13) (21.96) (9.55) (21.05) (12.76) (21.80) banks
% change of SME loans at the end of March, (21.05%)
12.82 41.37 6.25 16.91 8.95 29.24
2012 over March, 2011. Private banks
Source: SME & Special Programmes Department. Note :- Figures in brackets indicate SME loans as percentage of total loans. P=provisional Foreign banks (21.96%)
(9.55%)

10
9. Exports
a) Annual and monthly trends in exports
A. Annual exports (In million USD)
Merchandise exports in May, 2012 stands higher
R
by USD 308.44 million or 16.31 per cent at USD 2008-2009 2009-2010 2010-2011
2199.42 million as compared to USD 1890.98 15536.64 16204.65 22924.38
million in April, 2012. The amount is lower by (+10.10) (+4.30) (+41.47)
4.17 per cent than the export value of May 2011.
B. Monthly exports
R
Exports: Anual Trends Month 2010 - 2011 2009 - 2010
(Million USD)
2011 - 2012P July 2010 - 2011R 2009 - 2010 1818.75 1447.96
2500
2300 August 1794.24 1367.79
2100
1900
September 1415.12 1060.22
1700 October 1693.30 1023.99
1500 November 1553.88 1197.52
1300
1100 December 1988.35 1187.18
900 January 1920.55 1429.74
700
500
February 1886.02 1315.89
December
November
September

January
October

June
February
August

April

March 2136.86 1520.24

July

March

May

April 2036.17 1398.82

May 2295.10 1553.97
June 2386.04 1701.33
However, total export receipts during July-May, July - June 22924.38 16204.65
2011-12 increased by USD 2199.42 million or
(+41.47) (+4.30)
7.00 per cent to USD 21976.46 million as
P R
compared to USD 20538.34 million during July- 2011 - 2012 2010 - 2011
May, 2010-11. Latest available data (July-May, July 2339.52 1818.75
2011-12) on category-wise breakdown of exports August 2376.74 1794.24
are shown in the next page. September 1447.47 1415.12
October 1954.78 1693.30
Export Growth ( y-o-y % changes) November 1591.24 1553.88
60 December 2064.85 1988.35
50 January 2149.87 1920.55
40 February 1979.33 1886.02
30 March 1982.26 2136.86
20 April 1890.98 2036.17
10 May 2199.42 2295.10
0 July - May 21976.46 20538.34
-10 (+7.00) (+41.61)
-20 Source : Export Promotion Bureau. P=Provisional; R=Revised
Oct.11
Aug.11
Feb.11

Apr.11

Sep.11

Dec.11
Jan.12
Nov.11

Feb.12
Mar.12
Apr.12
July11

May.12
Jan.11

May 11
June11
Mar.11

Note :- Figures in brackets indicate percentage changes over

the corresponding period of the previous year.

11
b) Category-wise breakdown of exports
(In million USD)
Changes during July-May, 2011-12
Particulars July-May, 2011-12 July-May, 2010-11 over July-May, 2010-11
In absolute amount In percentage
Volume Value Volume Value Volume Value Volume Value
1. Raw Jute 459.08 243.71 461.94 331.61 -2.86 -87.90 -0.62 -26.51
(In million Kg.)
2. Jute goods (excl.carpet) 639.52 645.74 525.40 698.96 +114.12 -53.22 +21.72 -7.61
(In million Kg.)
3. Tea 1.56 3.17 1.14 2.85 +0.42 +0.32 +36.84 +11.23
(In million Kg.)
4. Frozen food 76.20 553.37 82.57 565.10 -6.37 -11.73 -7.71 -2.08
(In million Kg.)
5. Leather 21.16 302.90 19.81 270.62 +1.35 +32.28 +6.81 +11.93
(In million Kg.)
6. Woven garments 541.90 8696.94 558.32 7514.70 -16.42 +1182.24 -2.94 +15.73
(In million Pcs.)
7. Knitwear 609.65 8570.96 663.76 8444.65 -54.11 +126.31 -8.15 +1.50
(In million Pcs.)
8. Chemical products --- 97.96 --- 97.19 --- +0.77 --- +0.79
(In million Kg.)
of which (fertilizer) 38.75 17.69 121.35 39.66 -82.60 -21.97 -68.07 -55.40
9. Agricultural products* 149.74 357.09 95.79 137.66 +53.95 +219.43 +56.32 +159.40
(In million Kg.)
10. Engin.& Electric goods --- 323.52 --- 281.99 --- +41.53 --- +14.73

11. Others** --- 2181.10 --- 2193.01 --- -11.91 --- -0.54

TOTAL --- 21976.46 --- 20538.34 --- +1438.12 --- +7.00

Source : Export Promotion Bureau --- = Not available. * includes vegetables, fruits & tobacco. * *Others means residual items

Category-wise breakdown of exports shows that, during July-May, 2011-12 exports of woven
garments, knitwear, Engineering & Electric goods, leather, agricultural products experienced some
increase compared to the same period of the previous year. On the other hand there is some decrease
in the exports of Raw Jute and jute goods (excl.carpet) and fertilizers during July-May, 2011-12
compared to the same period of the previous year.

Category-wise share of total exports Category-wise share of total exports

(July-May, 2011-12) (July-May, 2010-11)

Others
Woven Others
(15.97%) Woven
garments Jute goods (16.14%)
garments
(39.57%) (3.40%) (36.59%)
Jute goods
(2.94%)

Frozen
Frozen food
food (2.75%)
(2.52%) Knitwear Knitwear
(39.00%) (41.12%)

12
10. Imports
a) Import payments, import L/C settlement and import LCs opened

(In million USD)

Import payments ( c&f ) Import LCs settlement Import LCs opened

Year 2010-11 2009-10 2010-11 2009-10 2010-11 2009-10
33657.50 23738.40 31952.18 23053.10 38581.12 28783.40
(+41.79) (+5.47) (+38.60) (+7.50) (+34.04) (+32.02)
Import payments ( c&f ) Import LCs settlement Import LCs opened
R R R
Month 2010-11 2009-10 2010-11 2009-10 2010-11 2009-10
July 2164.60 1726.40 2097.67 1672.57 3007.17 2126.59
August 2427.40 1584.70 2409.60 1576.10 3135.21 2289.71
September 2429.70 1813.50 2417.70 1598.57 2827.35 2022.05
October 2532.30 2032.00 2636.66 2010.92 3531.02 2367.10
November 2699.60 1820.50 2601.89 1717.80 3520.88 2355.51
December 2984.50 2180.50 2849.55 2141.41 3311.21 2033.85
January 3048.55 1861.20 3044.07 1839.65 3722.59 2294.88
February 2753.35 1818.60 2538.47 1715.26 3086.65 2066.49
March 3186.10 2353.60 2767.32 2316.40 3598.67 2620.40
April 3229.20 2220.20 2858.21 2079.68 2901.19 2609.25
May 3291.80 2127.00 2957.59 2132.24 3231.33 2940.04
June 2910.40 2200.20 2773.45 2252.50 2707.85 3057.53
July - June 33657.50 23738.40 31952.18 23053.10 38581.12 28783.40
(+41.79) (+5.47) (+38.60) (+7.50) (+34.04) (+32.02)
P R P R P R
Month 2011-12 2010-11 2011-12 2010-11 2011-12 2010-11
July 2937.80 2164.60 2790.28 2097.67 3171.34 3007.17
August 2555.00 2427.40 2690.37 2409.60 3181.87 3135.21
September 3297.90 2429.70 3049.81 2417.70 3560.69 2827.35
October 2977.20 2532.30 3222.96 2636.66 3052.44 3531.02
November 3141.30 2699.60 3196.85 2601.89 2720.95 3520.88
December 2889.90 2984.50 2478.63 2849.55 2519.82 3311.21
January 3346.00 3048.55 3088.71 3044.07 2928.15 3722.59
F ebruary 2955.10 2753.35 2882.90 2538.47 3036.71 3086.65
March 2846.50 3186.10 3373.65 2767.32 3085.77 3598.67
April 2906.50 3229.20 2810.52 2858.21 3122.92 2901.19
July-April 29853.20 27455.30 29584.68 26221.14 30380.66 32641.94
(+8.73) (+41.44) (+12.83) (+40.46) (-6.93) (+43.26)
Source: Statistics Department, Foreign Exchange Policy Department
Note : Figures in brackets indicate percentage changes over the corresponding period of the preceding year.
R = Revised, P = Provisional, NA=Not Available.

Import payments in April 2012 stand higher by USD 60.00 million Growth of import payments (y-o-y
70 %changes)
or 2.11 per cent to USD 2906.50 million, against USD 2846.50 60
million in March 2012. This is however, lower by USD322.70 50
million or 9.99 per cent compared to USD3229.20 million in April 40
2011. Import payments during July-April, 2011-12 increases by 30
USD 2397.90 million or 8.73 per cent to USD 29853.20 million 20
compared to USD 27455.30 million during July-April, 2010-11. Of 10
the total import payments during July-April, 2011-12 imports under 0

Cash and for EPZ stand at USD 28194.00 million, imports under -10
Loans/Grants USD 215.8 million, imports under direct investment -20
Feb'12
Apr'11
Jan'11

May'11
June'11

Aug'11

Oct'11
Nov'11

Mar'12
Apr'12
Feb'11

Sep'11

Dec'11
Jan'12
July'11
Mar'11

USD 91.00 million and short term loan by BPC USD 1352.40
million. The falling trend in cumulative import payments,
consequential effect of BB's monetary policy stance, is contributing to ease pressure on gross foreign exchange
reserves.

Settlement of import LCs in April 2012 stood lower by USD563.13 million or 16.69 per cent to USD 2810.52
million compared to USD3373.65 million in March 2012. This was also lower by USD47.69 million or 1.67 per
cent against USD 2858.21 million in the same month of the previous year. Settlement of import LCs during July-
April, 2011-12 increased by USD3363.54 million or 12.83 per cent to USD22584.68 million against USD26221.14
million during July-April, 2010-11 .

Fresh opening of import LCs in April 2012 stood higher by USD 37.15 million or 1.20 per cent to USD3122.92
million compared to USD3085.77 million in March 2012. This was also higher by USD221.73 million or 7.64 per
cent than USD 2901.19 million in the same month of the previous year. Fresh opening of import LCs during July-
April, 2011-12 decreased by USD2261.28 million or 6.93 per cent to USD30380.66 million against USD32641.94
million during July-April, 2010-11.Decline in opening of import LCs (cumulative) indicates that import payment
may not exceed the prevailing level shortly.
13
b) Sector-wise fresh opening, settlement and outstanding of import LCs

Latest available sector-wise comparative statement of fresh opening, settlement and outstanding of import
LCs during July-April, 2011-12 and July-April, 2010-11 are shown below:

(In million USD)

July-April, 2011-12 July-April, 2010-11 July-April, 2011-12
over July-April, 2010-11
Sectors / Commodities Fresh LCs Settlement Outstanding Fresh LCs Settlement Outstanding Fresh LCs Settlement Outstanding
opening of LCs LCs at the opening of LCs LCs at the opening of LCs LCs at the
end of the end of the end of the
period period period
A. Consumer goods 3460.21 3067.33 1723.69 4323.10 3061.53 1843.09 -862.89 +5.80 -119.39

B. Intermediate goods 2642.76 2634.55 1070.17 2106.70 1651.87 965.27 +536.05 +982.68 +104.89

C. Industrial raw materials 11841.61 11344.18 6369.71 12873.71 10130.29 7157.94 -1032.10 +1213.89 -788.23

D. Capital machinery 1797.19 2027.62 1752.21 2421.44 1683.95 1796.89 -624.25 +343.68 -44.68

E. Machinery for misc. industry 2748.56 2567.00 1309.67 2608.09 2248.86 1390.48 +140.47 +318.14 -80.81

F. Petroleum & petro.products 4097.54 3997.35 1270.92 2519.70 2556.88 800.83 +1577.83 +1440.47 +470.09

G. Others 3792.79 3946.65 3427.16 5789.18 4887.77 4535.35 -1996.40 -941.12 -1108.19

Total 30380.66 29584.68 16923.53 32641.94 26221.14 18489.84 -2261.28 +3363.54 -1566.31
of which back to back 4425.41 4448.09 3023.35 4808.26 3682.52 3131.04 -382.85 +765.57 -107.69

Source: Foreign Exchange Policy Department

The developments of each sector's share in total L/C opening during July-April, 2011-12 and July-April,
2010-11 are shown in the following pie-diagrams.

Sectoral Distribution in L/C Opening Sectoral Distribution in L/C Opening

( July-April, 2011-12 ) ( July-April, 2010-11 )
Others Consumer Others
goods Consumer
(12.48%) (17.74%)
(11.19%) goods
(13.24%)
Petrolium & Intermediate
petro. goods Petrolium & Intermediate
prod.(13.49%) (8.70%) petro. goods
prod.(7.72%) (6.45%)
Machinary for
Industrial raw Machinary for
misc.indus. Capital Capital Industrial raw
materials misc.indus.
(9.05%) machinary materials
(38.98%) machinary
(5.92) (7.94%)
(7.42%) (39.44%)

Sector-wise detailed break-up of fresh opening, settlement and outstanding of import LCs during July-April,
2011-12 and July-April, 2010-11 are given at Appendix.

c) Projected Data on Opening of Import LCs and Probable Liabilities against back to back LCs of Scheduled
Banks

(In million USD)

Month Opening of import LCs Probable liabilities of Banks against back to back LCs
June, 2012 4430.12 1594.41
July, 2012 4208.46 1725.30
August, 2012 3080.12 1811.66
June, 2012- August, 2012 11718.70 5131.37
Source: Monetary Policy Department, Bangladesh Bank.

Opening of import LCs and probable liabilities of banks against back to back LCs have been projected by the
scheduled banks at USD 11718.70 million and USD 5131.37 million respectively during June, 2012 - August,
2012.

14
11. Remittances
Annual and monthly trends in remittances
(In million USD)

A. Annual remittances
2008-09 2009-10 2010-11
R Inward Remittances
9689.26 10987.40 11650.32 1250
(+22.42) (+13.40) (+6.03) 1200
Month P R
2011 -12 2010-11 1150
1100

Million USD
July 1015.58 857.31 1050
August 1101.78 963.92 1000
September 855.45 837.71
950
October 1039.48 923.85
B. Monthly remittances 900
November 908.79 998.64
850
December 1147.22 969.10
800
January 1221.41 970.54

Ma y.12
Sep.11

Ja n.12
Feb.12
Ma r.12
Jun.11

Apr.12
Aug.11

Nov.11
Oct.11

Dec.11
Jul.11
Ma y11
February 1133.01 986.97
March 1109.14 1102.98
April 1083.89 1001.97
May 1156.82 998.42
July - May 11772.57 10611.41
(+10.94) (+5.11)
Source : Foreign Exchange Policy Department, Bangladesh Bank.
Note :- Figures in brackets indicate percentage changes over the
corresponding period of the previous year.
Remittances in May 2012 stand higher at USD 1156.82 million against USD1083.89 million in April 2012.
This is also higher by USD 158.40 million against USD998.42 million of May 2011.

Total remittances receipts during July-May, 2011-12 increased by USD1161.16 million or 10.94 per cent to
USD 11772.57 million against USD10611.41 million during July-May, 2010-11. Strong growth in remittances
stabilized gross reserves and helped to maintain strength of local currency.

12. Foreign exchange holdings abroad

(a) Gross foreign exchange reserves of Bangladesh Bank
(In million
: US$)

A. Outstanding stock at 2008- 09 2009- 10 2010- 11

FX reserves (End month )
the end of the year 7470.96 10749.74 10911.55
14000
(+21.50) (+43.89) (+1.51) Commercial Banks BB
12000
B. Outstanding stock at Month / Year P R
2011-12 2010-11
the end of the month July 10381.26 10749.19 10000
August 10931.88 10992.49
Million US$

September 9883.59 10833.55 8000

October 10338.28 11160.34
November 9285.20 10700.17 6000
December 9634.85 11174.35
January 9386.46 10097.84 4000
February 10066.77 10554.59
March 9579.43 10730.59 2000
Ma y.…
Ma y.11

Sep. 11

Ja n. 12
Feb. 12

April 10193.04 11316.44

Ma r. 12
Apr. 12
June 11
July 11
Aug. 11

Nov. 11
Apr.11

Oct. 11

Dec. 11

May 9520.43 10431.23

Source : Accounts & Budgeting Department,Bangladesh Bank.
Note :- Figures in brackets indicate percentage changes over
the corresponding period of the previous year.

The gross foreign exchange reserves of the BB stood lower at USD9520.43 million (with ACU liability of
USD 336.91 million) as of end May 2012, against USD10193.04 million (with ACU liability of USD 732.39
million) by end April 2012. The gross foreign exchange reserves, without ACU liability is equivalent to
import payments of 3.06 months according to imports of USD 3004.62 million per month based on the
preceding 12 months average (May 2011-April 2012).

(b) Gross foreign exchange balances held abroad by commercial banks:

The gross foreign exchange balances held abroad by commercial banks stood lower at USD1095.46 million
by end May 2012 against US$1164.05 million by end April 2012. However, this was higher than the balance
of USD903.12 million by end May 2011.

15
13. Foreign Aid
(In million USD)
Year Food Aid Commodity Aid Project Aid Total Aid Payment (Principal) Net Foreign Aid
2007-2008 83.31 0.00 1873.39 1956.70 580.16 1376.54
2008-2009 37.56 0.00 1626.47 1664.03 641.20 1022.83
R
FY2010-11 FY2009-10
Food Commodity Project Total Payment Net Foreign Food Commodity Project Total Payment Net Foreign
Month
Aid Aid Aid Aid (Principal) Aid Aid Aid Aid Aid (Principal) Aid
July 0.00 0.00 35.65 35.65 57.60 -21.95 0.00 0.00 70.85 70.85 59.00 11.85
August 0.00 0.00 33.47 33.47 41.00 -7.53 0.00 0.00 43.82 43.82 29.00 14.82
September 33.00 0.00 213.81 246.81 44.31 202.50 35.80 0.00 189.37 225.17 40.00 185.17
October 0.00 0.00 127.32 127.32 83.87 43.45 0.00 0.00 96.93 96.93 78.40 18.53
November 0.00 0.00 171.13 171.13 64.87 106.26 0.00 0.00 800.23 800.23 41.60 758.63
December 17.00 0.00 353.10 370.10 89.20 280.90 35.00 0.00 208.95 243.95 90.30 153.65
January 21.00 0.00 78.46 99.46 56.00 43.46 0.00 0.00 41.92 41.92 77.20 -35.28
February 0.00 0.00 63.24 63.24 31.72 31.53 0.00 0.00 50.79 50.79 31.70 19.09
March 0.00 0.00 198.99 198.99 43.13 155.85 17.50 0.00 187.77 205.27 5.80 199.47
April 0.00 0.00 85.97 85.97 78.76 7.21 0.00 0.00 50.19 50.19 113.00 -62.81
May 0.00 0.00 28.15 28.15 62.40 -34.26 0.00 0.00 82.40 82.40 55.00 27.40
June 32.00 0.00 284.88 316.88 74.68 242.20 0.00 0.00 252.93 252.93 66.40 186.53

July-June 103.00 0.00 1674.17 1777.17 727.54 1049.63 88.30 0.00 2076.15 2164.45 687.40 1477.05
P R
FY2011-12 FY2010-11
July 0.00 0.00 55.13 55.13 68.27 -13.14 0.00 0.00 35.65 35.65 57.60 -21.95

August 0.00 0.00 60.81 60.81 42.19 18.62 0.00 0.00 33.47 33.47 41.00 -7.53

September 7.00 0.00 148.46 155.46 58.06 97.40 33.00 0.00 213.81 246.81 44.31 202.50

October 0.00 0.00 63.80 63.80 86.97 -23.17 0.00 0.00 127.32 127.32 83.87 43.45
November 0.00 0.00 83.50 83.50 84.67 -1.17 0.00 0.00 171.13 171.13 64.87 106.26

December 7.00 0.00 455.74 462.74 70.35 392.39 17.00 0.00 353.10 370.10 89.20 280.90
January 0.00 0.00 143.55 143.55 71.07 72.48 21.00 0.00 78.46 99.46 56.00 43.46
February 0.00 0.00 183.42 183.42 37.72 145.70 0.00 0.00 63.24 63.24 31.72 31.53
March 8.00 0.00 175.92 183.92 53.35 130.57 0.00 0.00 198.99 198.99 43.13 155.85
April 0.00 0.00 211.87 211.87 90.81 121.06 0.00 0.00 85.97 85.97 78.76 7.21
May 0.00 0.00 114.40 114.40 60.84 53.56 0.00 0.00 28.15 28.15 62.40 -34.26
July-May 22.00 0.00 1696.60 1718.60 724.30 994.31 71.00 0.00 1389.29 1460.29 652.86 807.43

Total foreign aid in the month of May 2012 is higher by USD86.25 Foreign Aid
million compared to the corresponding month last year. Aid 2000
Total Aid Net Aid
disbursements during July-May, 2011-12 stood higher by USD 1800 1718.60
258.31million or 17.69 percent to USD 1718.60 million compared 1600
1460.29
to USD 1460.29 million during July-May, 2010-11.
1400
Million USD

Net receipts of aid during July-May 2011-12 are higher by 1200

994.31
USD186.88 million compared to the corresponding months last 1000
807.43
year. Net receipts of foreign aid during July-May, 2011-12 stands 800

higher at USD 994.31 million, against USD 807.43 million during 600
July-May, 2010-11. 400

200
July-May, 2011-12 July-May, 2010-11

16
14. Exchange Rate Movements 2/ :

(Taka per USD)

2010-11 2011-12P
Month
Month Average End Month Month Average End Month

July 69.4370 69.4100 74.4835 74.7050

August 69.4886 69.5850 74.4497 73.6150
September 69.6744 70.2150 74.5746 75.2300
October 70.5474 70.7850 75.7187 76.1950
November 70.3913 70.3650 76.4780 76.8600
December 70.6170 70.7450 79.6659 81.8450
January 71.0363 71.1500 83.4233 84.4400
February 71.1735 71.3000 83.0926 81.7600
March 71.9456 72.7350 81.7604 81.7950
April 72.8235 72.9000 81.8160 81.8850
May 73.1919 73.4850 81.8498 81.9300
June 73.8848 74.1450
Source : Statistics Department & MPD. Note: 2/ Exchange rate represent the mid-value of buying and selling rates.
P= Provisional, R=Revised.

Exchange rate of Taka per USD appreciated about 3.28 per cent in the month of February and has
since hover around that rate, resulted from moderate growth in remittances, foreign aid, and lower
import pressures. At the end of May 2012 Taka has depreciated by 9.50 per cent from its level at the
end of June 2011.

Movement of Taka against USD

85
84
83
82
81
80
79
Taka /USD

78
77
76
75
74
73
72
71
70
69
68
03-01-10
25-01-10
16-02-10
11-03-10
05-04-10
28-04-10
20-05-10
14-06-10
07-07-10
01-08-10
24-08-10
20-09-10
12-10-10
04-11-10
01-12-10
26-12-10
17-01-11
08-02-11
06-03-11
29-03-11
21-04-11
16-05-11
08-06-11
30-06-11
25-07-11
17-08-11
15-09-11
10-10-11
01-11-11
28-11-11
20-12-11
12-01-12
06-02-12

22-03-12
16-04-12
10-05-12
03-06-12
25-06-12
29-02-12

17
15. Balance of payments
(In million USD)

@
FY 2010-11R @@
July-April, 2010-11R @@
July-April, 2011-12 P

Trade balance -7328 -6685 -7345

1/
Exports f.o.b(including EPZ) 23008 18062 19543
Imports f.o.b(including EPZ) -30336 24747 26888
Services -2398 -2104 -2159
Credit 2570 1998 2285
Debit -4968 4102 4444
Primary income -1354 -1117 -1337
Credit 119 154 165
Debit -1473 1271 1502
Of which:Official interest payment -220 293 342
Secondary income 12075 10282 11350
Official transfers 127 75 54
Private transfers 11948 10207 11296
of which : Workers' remittances 11650 9613 10615
Current account balance 995 376 509
Capital account 600 439 429
Capital transfers 600 439 429
Others 0 0 0
Financial account -1584 -1476 -934
i) Foreign direct investment(net) 768 630 580
ii) Portfolio investment (net) -28 -38 142
iii) Other investment(net) -2324 -2068 -1656
MLT loans 2/ 1051 877 1161
MLT amortization payments -739 602 664
Other long-term loans (net) -101 -110 6
Other short-term loans (net) 531 424 -49
Trade credit (net) -1895 -1758 -639
Other assets -1011 -835 -1490
DMBs & NBDCs(net) -160 -64 19
Assets -452 356 212
Liabilities 292 292 231
Errors and omissions -936 159 -110
Overall balance -925 -502 -106
Reserve assets 925 502 106
Bangladesh Bank(net) 925 502 106
Assets 749 -169 -258
Liabilities 176 333 -152
Source :Statistics Department, Bangladesh Bank.
@= Considering BPM-5 @@= Considering BPM-6
1/ Excludes local sales reported by EPB. Some adjustments necessiated by BOP considerations have been made.
2/ Excluding supplier's credit, reclassified as trade credit below. P= Provisional. R= Revised

Trade balance recorded a higher deficit of USD7345 million during July-April, 2011-12 compared to
the deficit of USD6685 million during July-April, 2010-11. But the large inflow of workers
remittances during the period contributed to a current account surplus of USD509 million during
July-April, 2011-12 (against the surplus of USD376 million during July-April, 2010-11.) Despite a
capital account surplus of USD429 million, a financial account deficit of USD934 million resulted
in a deficit of USD106 million in overall balance during July-April, 2011-12 against a deficit of
USD502 million during July-April, 2010-11. The main driving factor behind the financial account
deficit is the EPZ exports which can be repatriated and as such the net exports shown in the trade
balance are counter-balanced by the equivalent amount in the financial account.

18
16. Public finance
a) Government tax revenue collections
(In crore taka)

Annual tax revenue collections 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010 2010-2011 P

NBR tax revenue 33987.04 37219.32 47435.66 52527.25 62042.16 79394.82

(34456.00) (37479.00) (45970.00) (50213.00) (61000.00) (75600.00)
Non-NBR tax revenue 1526.17 1854.39 2312.44 2652.90 2848.00 3229.36
(1719.00) (1768.00) (2042.00) (2653.00) (2955.00) (3452.00)
Total tax revenue 35513.21 39073.71 49748.10 55180.15 64890.16 82624.18
(36175.00) (39247.00) (48012.00) (52866.00) (63955.00) (79052.00)
Note:- Figures in brackets indicate the target of revenue collection. 0.00

(In crore taka)

R 2009-10
2010-11
NBR tax revenue Non-NBR Total tax NBR tax revenue Non-NBR Total tax
Month Customs Vat Income others* Total tax revenue Revenue Customs Vat Income others* Total tax revenue Revenue
duties tax Collections duties tax Collections
1 2 3 4 5=(1+..+4) 6 7=(5+6) 1 2 3 4 5=(1+..+4) 6 7=(5+6)
July 740.48 2045.52 873.90 874.60 4534.50 261.55 4796.05 692.27 1603.22 735.69 807.10 3838.28 269.36 4107.64
August 911.75 2296.94 1031.24 1164.20 5404.13 252.40 5656.53 743.57 1732.61 704.47 797.74 3978.39 224.28 4202.67
September 783.87 2173.89 1689.93 1104.62 5752.31 204.25 5956.56 748.11 1660.88 1310.29 860.87 4580.15 163.04 4743.19
October 876.76 2349.54 1285.24 1173.93 5685.47 256.11 5941.58 738.52 1891.26 942.35 919.79 4491.92 230.42 4722.34
November 890.15 2274.69 1350.06 1151.75 5666.65 236.52 5903.17 754.73 2010.50 963.62 947.42 4676.27 200.68 4876.95
December 942.53 2611.73 1811.73 1183.11 6549.10 261.12 6810.22 663.22 1931.47 1329.05 903.94 4827.68 246.89 5074.57
January 1049.30 2590.14 1453.64 1326.63 6419.71 252.17 6671.88 717.31 2033.06 986.31 947.34 4684.02 230.16 4914.18
February 873.91 2285.45 1335.90 1339.21 5834.47 208.01 6042.48 680.02 1861.25 1057.94 1067.44 4666.65 193.20 4859.85
March 1031.59 2522.16 2421.51 1286.09 7261.35 314.77 7576.12 810.08 2257.69 1797.47 1058.74 5923.98 245.45 6169.43
April 954.94 2588.10 1743.29 1214.01 6500.34 296.87 6797.21 648.21 2135.74 1426.10 992.30 5202.35 256.05 5458.40
May 1323.92 3082.44 1926.99 1393.98 7727.33 345.80 8073.13 781.86 2298.89 1571.83 1065.69 5718.27 265.04 5983.31
June 1197.05 3361.96 6084.10 1416.35 12059.46 339.79 12399.25 1019.22 3051.50 4217.16 1166.32 9454.20 323.44 9777.64
July-June 11576.25 30182.56 23007.53 14628.48 79394.82 3229.36 82624.18 8997.12 24468.07 17042.28 11534.69 62042.16 2848.00 64890.16
(+28.67) (+23.35) (+35.00) (+26.82) (+27.97) (+13.39) (+27.33) (-3.99) (+21.45) (+22.98) (+26.04) (+18.11) (+7.35) (+17.60)
Month 2011-12P 2010-11R
July 1098.97 2515.56 1179.74 1205.03 5999.30 307.44 6306.74 740.48 2045.52 873.90 874.60 4534.50 261.55 4796.05
August 1098.06 2283.41 1293.19 1245.67 5920.33 223.08 6143.41 911.75 2296.94 1031.24 1164.20 5404.13 252.40 5656.53
September 939.36 2359.88 2109.05 1162.91 6571.20 255.26 6826.46 783.87 2173.89 1689.93 1104.62 5752.31 204.25 5956.56
October 999.61 2636.73 1614.44 1398.57 6649.35 290.08 6939.43 876.76 2349.54 1285.24 1173.93 5685.47 256.11 5941.58
November 1065.14 2707.86 1627.73 1292.19 6692.92 252.42 6945.34 890.15 2274.69 1350.06 1151.75 5666.65 236.52 5903.17
December 1014.19 2841.54 2320.67 1271.69 7448.09 288.88 7736.97 942.53 2611.73 1811.73 1183.11 6549.10 261.12 6810.22
January 1175.49 3101.30 1831.98 1376.61 7485.38 337.84 7823.22 1049.30 2590.14 1453.64 1320.51 6413.59 252.17 6665.76
February 1004.83 2731.07 1869.31 1836.83 7442.04 281.90 7723.94 873.91 2285.45 1335.90 1339.21 5834.47 208.01 6042.48
March 1053.05 3162.85 3177.00 1540.74 8933.64 307.01 9240.65 1031.59 2522.16 2421.51 1286.09 7261.35 314.67 7576.02
April 1310.21 3087.87 2198.82 1538.16 8135.06 354.82 8489.88 954.94 2588.10 1743.29 1214.01 6500.34 296.87 6797.21
May 1276.56 3640.50 2434.90 1793.57 9145.53 N.A N.A 1323.92 3082.44 1926.99 1400.10 7733.45 - -
July-May 12035.47 31068.55 21656.83 12330.26 80422.84 2898.73 74176.04 10379.20 26820.60 16923.43 13212.13 67335.36 2543.68 62145.59
(+15.96) (+15.84) (+27.97) (-6.67) (+19.44) (+13.96) (+19.36) (+30.10) (+25.23) (+31.96) (+27.43) (+28.04) (+12.58) (+26.49)
Source: National Board of Revenue and Office of the Controller General of Accounts. P=Provisional, R=Revised; N.A.= Not Available. *=include supplementary duties & travel tax.
Note:- Figures in brackets indicate percentage changes over the corresponding period of the preceding year.

NBR tax revenue collection in May 2012 was Tk.9145.53 40

Growth of total tax revenue (y-o-y % changes)
crore which is higher by Tk.1412.08 crore or 18.26 per 30

cent against their collection of Tk.7733.45 crore in May 20

2011. 10

The NBR tax revenue collection during July-May, 2011- -10 NBR Tax Non-NBR Tax Total Tax

12 stood at Tk.80422.84 crore which is higher by -20

Mar.11
July.10
Aug.10
Sep.10

Dec.10
Jan.11

Jan 12
Oct.10
Nov.10

Feb.11

Apr.11

Sep 11

Dec 11

Mar 12
Apr 12
May 11
June 11
July 11
Aug 11

Oct 11
Nov 11

Feb 12

Growth of NBR tax revenue (y-o-y % changes)

40
Tk.13087.48 crore or 19.44 against the collection of 35

67335.36 crore in July-May, 2010-11. Target for NBR tax 30

25
revenue collection for FY 2011-12 remains fixed at Tk. 20

91870.00 crore. 15
10
5
Nov.10

Jan 12
July.10

Sep.10
Oct.10

July 11
Aug.10

Feb.11
Mar.11
Apr.11

Sep 11

Dec 11

Mar 12
Apr 12
May 12
Dec.10
Jan.11

May 11
June 11

Aug 11

Oct 11
Nov 11

Feb 12

19
b) Sale and repayment of NSD certificates
(In crore taka)
Sale Repayment Net sale Outstanding at
(Principal) the end of the year
(1) (2) (3) 4=(2-3) (5)
2008-2009 16035.28 12401.96 3633.32 49790.79
2009-2010 25553.69 13963.06 11590.63 61381.42
2010-2011 17232.03 15175.13 2056.90 63438.32
(In crore taka)
2010-2011R 2009-2010
Months Sale Repayment Net sale Outstanding at the Sale Repayment Net sale Outstanding at the
(principal) end of the period. (principal) end of the period.
July 1598.01 973.74 624.27 62005.69 1998.28 1083.70 914.58 50705.37
August 1754.90 1280.68 474.22 62479.91 2006.10 1242.04 764.06 51469.43
September 1444.50 1109.76 334.74 62814.65 2070.71 939.39 1131.32 52600.75
October 1654.89 1164.66 490.23 63304.88 2289.59 1169.43 1120.16 53720.91
November 1279.19 1134.26 144.93 63449.81 1918.26 1141.19 777.07 54497.98
December 1407.92 1506.59 -98.67 63351.14 1667.22 1141.86 525.36 55023.34
January 1817.99 1489.16 328.83 63679.97 2353.39 1169.78 1183.61 56206.95
February 1142.26 827.93 314.33 63994.30 2147.56 1166.09 981.47 57188.42
March 1648.23 1624.19 24.04 64018.34 2456.00 1323.58 1132.42 58320.84
April 1101.89 1233.14 -131.25 63887.09 2136.97 1199.84 937.13 59257.97
May 1317.24 1379.91 -62.67 63824.42 2156.04 1187.77 968.27 60226.24
June 1065.01 1451.11 -386.10 63438.32 2353.57 1198.39 1155.18 61381.42
July-June 17232.03 15175.13 2056.90 63438.32 25553.69 13963.06 11590.63 61381.42
(-32.57) (+8.68) (-82.25) (+3.35) (+59.36) (+12.59) (+219.01) (+23.28)
Months 2011-2012P 2010-2011R
July 1598.02 1286.99 311.03 63749.35 1598.01 973.74 624.27 62005.69
August 1294.76 1268.66 26.1 63775.45 1754.90 1280.68 474.22 62479.91
September 1538.43 1377.13 161.3 63936.75 1444.50 1109.76 334.74 62814.65
October 1384.36 1291.93 92.43 64029.18 1654.89 1164.66 490.23 63304.88
November 1113.59 1134.14 -20.55 64008.63 1279.19 1134.26 144.93 63449.81
December 1080.31 1316.56 -236.25 63772.38 1407.92 1506.59 -98.67 63351.14
January 1447.75 1667.68 -219.93 63552.45 1817.99 1489.16 328.83 63679.97
February 1284.19 1506.44 -222.25 63330.20 1142.26 827.93 314.33 63994.30
March 2255.02 2125.9 129.12 63459.32 1648.23 1624.19 24.04 64018.34
April 2210.25 1851.61 358.64 63817.96 1101.89 1233.14 -131.25 63887.09
July-April 15206.68 14827.04 379.64 63817.96 14849.78 12344.11 2505.67 63887.09
(+2.40) (+20.11) (-84.85) (-0.11) (-29.43) (+6.63) (-73.53) (+7.81)
Source:- National Savings Directorate. Note : Figures in brackets indicate percentage changes over the corresponding period of the preceding year. P = Provisional, R = Revised.

The positive impact of upward revision of the rate of NSD Monthly net sale of NSD certificates
certificates was reflected in the sale of NSD figure which 500
stood at Tk. 2210.25 crore in April 2012. Net borrowing of 400
300
the government through NSD certificates during July-April, 200
Crore taka

2011-12 stood at Tk. 379.64 crore against Tk.2505.67 crore 100

0
during July-April, 2010-11. -100
-200
Outstanding borrowing of the government through NSD -300
certificates as of end April 2012 stood at Tk.63817.95 crore -400
-500
which was lower by Tk.69.12 crore or 0.11 percent against
Apr.11

Oct. 11

Dec. 11
Aug. 11

Jan. 12
Feb. 12
Mar. 12
Apr. 12
May 11
June 11
July 11

Sep. 11

Nov. 11

Tk.63887.09 crore as of end April 2011.

20
c) Budget financing
(In crore Taka)
Net borrowing Net non-bank Total Net Total Total financing Outstanding Total outstanding
of the Govt. borrowing of domestic foreign financing as % of GDP@ Domestic domestic debt
Year from the Govt. from financing financing 3/ at current debt as % of GDP@
the banking the public 2/ market price (end of the at current
1/
system period) market price
1 2 3 4=(2+3) 5 6=(4+5) 7 8 9

2001-2002 2487.10 4711.47 7198.57 5782.82 12981.39 4.75 45181.76 16.54

2002-2003 -1103.10 4795.22 3692.12 6560.78 10252.90 3.41 48873.88 16.26

2003-2004 1246.20 4598.94 5845.14 3597.30 9442.44 2.84 54719.02 16.43

2004-2005 3106.60 2907.56 6014.16 6236.68 12250.84 3.30 60733.18 16.38

2005-2006 5667.80 2758.90 8426.70 7236.80 15663.50 3.77 69159.88 16.64

2006-2007 4937.20 4373.53 9310.73 7591.15 16901.88 3.58 78470.61 16.61

2007-2008 11531.50 4008.68 15540.18 7016.78 22556.96 4.13 94010.79 17.22

2008-2009 10527.40 4405.51 14932.91 7037.17 21970.08 3.57 108943.70 17.72

2009-2010 -4376.00 12256.14 7880.14 10218.86 18099.00 2.62 116823.84 16.92

2010-2011R 19384.10 3012.93 22397.03 7470.38 29867.41 3.79 139220.87 17.68

R
July-April, 2010-11 9896.60 3346.67 13243.27 5950.78 19194.05 - 130067.11 -

July-April, 2011-12P 16417.80 2004.19 18421.99 7387.97 25809.96 - 157642.86 -

1 / : Excludes interest
2/ : Excludes saving certificates held by the banks and includes treasury bills & bonds held by the non-bank financial institutions,T.bills & bonds have been taken at face value.
3/ : Aid disbursement less amortization.
@ : Source-National Accounts Statistics, BBS. P=Provisional ; R=Revised

Total budget financing of the government during July-April, 2011-12 stood higher at Tk.258.10
billion, against Tk.191.94 billion during July-April, 2010-11. Unlike corresponding period last year,
financing from domestic sources stood much higher at Tk.184.22 billion (71.38% of total financing)
during July-April, 2011-12 compared to net foreign financing at Tk. 73.88 billion (28.62% of total
financing) due to shortage of foreign fund as projected in the budget for FY12. Of the total domestic
financing, Tk.164.18 billion (89.12% of total domestic financing) was arranged through net
borrowing from the banking system. However, total budget financing during July-April, 2011-12
stood lower at 2.87 per cent of projected GDP for FY12 against 5.0 per cent (overall deficit,
excluding grants) as envisaged in budget for FY12.

17. Food situation (In lakh metric ton)

Actual Net Foodgrain Imports Public Public Foodgrain
The actual production of foodgrains Year Production Domestic Domestic Govt. & Private Total Domestic Distribution Stock
during FY 2010-11 stood higher at Target Production Production* food aid Procurement Public

345.13 lakh metric tons compared to (Gross) (End June)

332.26 lakh metric tons during FY FY2009-10 350.51 332.26 292.39 5.56 28.99 34.55 8.05 19.61 5.31
R
FY2010-11 365.34 345.13 310.62 22.04 35.00 57.04 4.62 22.91 8.87
2009-10. Import of foodgrains during T
FY2011-12 357.25 N.A N.A 17.00 - 17.00 16.00 29.18 N.A
July-May, 2011-12 stood higher at 21.07 P R
Particulars July-May, 2011-12 July-May, 2010-11
lakh metric tons compared to 49.92 lakh
1. Imports (Rice & Wheat) 21.07 49.92
metric tons during July-May, 2010-11. 2. Procurement (Rice & Wheat) 10.00 2.96
Stock of foodgrains (including transit 3. Distribution (Rice & Wheat) 17.56 20.06
stock) with the government stood at 7.90 4. Food Stock N.A 7.90** 7.77**
lakh metric tons at the end of May, Source : Bangladesh Food Situation Report, FPMU, Ministry of Food & Disaster Management,Govt. of the Peoples Republic of Bangladesh.
2011. Note :T=Target, P = Provisional, R = Revised, N.A = Not Available.
*=After 12% deduction for FY08, FY09 & FY10 and 10% for other years for seed, feed, waste etc. ** including transit stock
21
18. Industrial Production
Quantum index of medium and large scale manufacturing industries (Base:1988-89=100)

FY2010-11 FY2009-10 FY2008-09

520.56 442.12 413.42
Commodities (+17.74) (+6.94) (+6.97)
% Changes of % Changes during
March, 2012
P July-Mar., March, 2011R July-Mar., Mar., 2012 over July-Mar., 2011-12 over
R
2011-12P 2010-11 Mar., 2011 July-Mar., 2010-11
1 2 3 4 5 6 7
1. General index 587.60 559.40 571.22 505.52 +2.87 +10.66
2. Sub-indices
i) Food bever. & tobacco 290.22 347.83 342.11 380.55 -15.17 -8.60
ii) Jute, cott, w. apprl.& leather 966.47 877.12 872.42 719.08 +10.78 +21.98
iii) Wood product incl. furniture 298.12 309.21 342.42 322.42 -12.94 -4.10
iv) Paper and paper product 530.78 512.08 508.55 505.22 +4.37 +1.36
v) Chemical, petro & rubber 392.95 375.38 434.27 148.47 -9.51 +152.84

vi) Non-metalic product 578.52 548.72 550.90 549.51 +5.01 -0.15

vii) Basic metal product 268.27 258.39 323.15 251.12 -16.98 +2.90
viii) Fabricated metal product 221.07 205.71 198.29 191.96 +11.49 +7.16
Source: Bangladesh Bureau of Statistics. P=Provisional ; R=Revised

Chart 1: Quantum index of medium & large scale Chart 2: Quantum index of small scale manufacturing
manufacturing industries (Base:1988-89=100) industries (Base:1995-96=100)
360
650
625
600 340
575
550 320
525
Indices
Indices

500 300
475
450 280
425
400 260
375
350
240
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3

Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
FY08 FY09 FY10 FY11 FY12
FY08 FY09 FY10 FY11 FY12

The general index of industrial production (medium & large scale manufacturing) stands higher at
559.40 during July-March, 2011-12, recording an increase of 10.66 per cent over July-March, 2010-
11.

Indices recording increase during July-March, 2011-12 compared to the same period of the preceding
year are: Chemical, petro. & rubber (152.84%), Jute, cott. w. apprl & leather (21.98%), Fabricated
metal product (7.16%), Basic metal product (2.90%), and Paper & paper production (1.36%). On the
other hand indices of Food beverege & tobacco (8.60%), Wood product including furniture (4.10%)
and Non-metalic product (0.15%) decrease during July-March, 2011-12 compared to the same period
of the preceding year.

The general index of small scale manufacturing industry during the third quarter (January-March) of
FY12 increased by 1.27 per cent to 323.28 as compared to 319.23 during the second quarter of the
same fiscal year. However, this decreases by 3.27 per cent as compared to 335.79 during the same
quarter of the previous fiscal year.

22
 APPENDIX

Break-up of Fresh Opening, Settlement and Outstanding of Import LCs

(In million USD)

July-April, 2011-12 July-April, 2010-11 Changes in July-April, 2011-12
over July-April, 2010-11
Sectors / Commodities Fresh LCs Settlement Outstanding Fresh LCs Settlement Outstanding Fresh LCs Settlement Outstanding
opening of LCs LCs at the opening of LCs LCs at the opening of LCs LCs at the
end of the end of the end of the
period period period
A. Consumer goods 3460.21 3067.33 1723.69 4323.10 3061.53 1843.09 -862.89 +5.80 -119.39

Rice and wheat 699.05 745.72 313.08 2337.70 1644.47 803.58 -1638.64 -898.75 -490.50
Sugar and salt 1154.91 1044.12 707.74 840.93 464.62 508.55 +313.99 +579.50 +199.19
Milk food 201.50 193.63 98.72 201.07 149.91 155.10 +0.43 +43.72 -56.38
Edible oil (refind) 381.29 233.65 255.69 139.14 81.33 90.91 +242.15 +152.32 +164.78
All kinds of fruits 135.53 125.34 26.46 126.75 109.21 28.91 +8.78 +16.13 -2.45
Pulses 248.84 157.87 150.93 235.78 236.15 104.55 +13.07 -78.28 +46.38
Onion 95.79 104.21 15.16 98.43 82.74 18.88 -2.64 +21.48 -3.73
Spices 73.70 69.87 13.66 98.54 99.89 13.77 -24.84 -30.02 -0.11
Second hand clothings 2.44 1.23 2.38 1.20 2.32 2.13 +1.24 -1.10 +0.25
Drugs and medicines(finished) 73.87 75.57 28.41 78.81 53.80 47.68 -4.94 +21.78 -19.27
Others 393.28 316.11 111.46 164.76 137.09 69.02 +228.52 +179.02 +42.44
B. Intermediate goods 2642.76 2634.55 1070.17 2106.70 1651.87 965.27 +536.05 +982.68 +104.89

Coal 93.52 75.68 37.97 78.23 62.74 33.30 +15.30 +12.94 +4.67
Cement 17.89 12.12 10.54 17.79 11.08 14.35 +0.10 +1.04 -3.81
Clinker & limestone 370.24 375.58 130.09 302.56 248.03 127.24 +67.68 +127.55 +2.85
B. P. sheet 302.22 264.39 136.50 284.58 282.06 137.66 +17.64 -17.66 -1.16
Tin plate 23.08 23.85 6.21 20.15 18.67 4.72 +2.92 +5.18 +1.49
Scrap Vessels 775.47 879.30 299.49 474.24 300.67 173.09 +301.23 +578.64 +126.39
Iron and steel scrap 343.44 323.26 187.81 320.98 203.97 214.98 +22.45 +119.30 -27.17
Non-ferrous metal 151.42 171.03 53.04 154.42 144.57 77.79 -2.99 +26.46 -24.76
Paper and paper board 282.80 282.96 89.56 323.03 296.27 110.40 -40.23 -13.31 -20.84
Others 282.69 226.38 118.96 130.73 83.82 71.72 +151.96 +142.56 +47.24
C. Industrial raw materials 11841.61 11344.18 6369.71 12873.71 10130.29 7157.94 -1032.10 +1213.89 -788.23

Edible oil & oil seeds 1212.64 1228.37 663.45 1060.53 753.40 626.62 +152.11 +474.97 +36.83
Textile fabrics (B/B & others) 4002.22 3888.06 2636.66 4323.07 3281.60 2830.70 -320.86 +606.45 -194.04
Pharmaceutical raw materials 318.48 302.52 120.71 328.38 290.79 117.48 -9.89 +11.72 +3.23
Raw cotton 1905.23 1600.20 1188.20 2830.06 2235.88 1309.65 -924.83 -635.68 -121.45
Cotton yarn 753.29 783.22 555.12 945.81 650.12 686.85 -192.52 +133.10 -131.73
Copra 150.91 40.53 17.56 17.91 16.63 9.07 +132.99 +23.91 +8.49
Synthetic fibre & yarn 456.60 541.89 305.49 797.94 546.40 445.10 -341.34 -4.51 -139.61
Chemicals & chem. products 3042.24 2959.40 882.51 2570.00 2355.47 1132.46 +472.25 +603.93 -249.95
(contd. on page 24)

23
 APPENDIX

Break-up of Fresh Opening, Settlement and Outstanding of Import LCs

(In million US$)

July-April, 2011-12 July-April, 2010-11 Changes in July-April, 2011-12

over July-April, 2010-11

Sectors / Commodities Fresh LCs Settlement Outstanding Fresh LCs Settlement Outstanding Fresh LCs Settlement Outstanding

opening of LCs LCs at the opening of LCs LCs at the opening of LCs LCs at the

end of the end of the end of the

period period period

D. Capital machinery 1797.19 2027.62 1752.21 2421.44 1683.95 1796.89 -624.25 +343.68 -44.68

Textile machinery 328.79 315.60 272.57 395.17 300.67 290.29 -66.38 +14.93 -17.72

Leather / tannery 5.26 9.28 2.56 4.26 8.89 7.70 +0.99 +0.39 -5.15

Jute industry 25.34 29.02 18.06 30.34 17.43 18.62 -5.00 +11.59 -0.56

Garment industry 274.04 288.67 240.25 362.31 323.92 294.47 -88.26 -35.25 -54.22

Pharmaceutical industry 43.42 39.23 23.81 36.38 51.48 21.17 +7.04 -12.25 +2.64

Packing industry 11.36 23.11 3.61 14.08 14.00 18.55 -2.72 +9.12 -14.93

Other industry 1108.98 1322.71 1191.34 1578.90 967.58 1146.08 -469.92 +355.14 +45.26

E. Machinery for misc. industry 2748.56 2567.00 1309.67 2608.09 2248.86 1390.48 +140.47 +318.14 -80.81

Other machineries 357.21 329.48 190.25 501.39 399.50 405.26 -144.19 -70.02 -215.01

Marine diesel engine 27.89 23.35 11.90 31.36 31.25 13.44 -3.47 -7.90 -1.54

Computer & its accessories 272.80 271.64 98.21 265.11 254.61 113.54 +7.69 +17.03 -15.33

Motor vehicle & motorcycle parts 92.52 67.02 47.58 66.89 59.30 25.75 +25.63 +7.72 +21.83

Bicycle parts 19.33 23.05 8.42 23.00 21.82 10.00 -3.66 +1.23 -1.58

Other iron and steel products 399.83 351.42 243.34 329.57 269.14 187.73 +70.26 +82.28 +55.61

Motor vehicles 552.90 542.31 270.48 708.09 587.56 300.21 -155.19 -45.25 -29.72

Other electronics components 111.85 137.38 52.16 222.82 227.58 72.46 -110.97 -90.21 -20.30

Tractors & power tiller 104.32 96.31 43.56 106.48 91.45 55.79 -2.17 +4.86 -12.23

Others 809.93 725.03 343.77 353.40 306.64 206.32 +456.54 +418.39 +137.45

F. Petroleum & petro.products 4097.54 3997.35 1270.92 2519.70 2556.88 800.83 +1577.83 +1440.47 +470.09

Crude 1109.87 1106.99 531.28 841.95 816.21 362.54 +267.92 +290.78 +168.74

Refined 2987.67 2890.35 739.63 1677.75 1740.66 438.29 +1309.92 +1149.69 +301.35

G. Others 3792.79 3946.65 3427.16 5789.18 4887.77 4535.35 -1996.40 -941.12 -1108.19

Commercial sector 1870.10 2021.62 1610.54 2889.93 2464.10 1954.56 -1019.83 -442.48 -344.02

Industrial sector 1922.68 1925.03 1816.63 2899.26 2423.67 2580.79 -976.57 -498.64 -764.16

Total 30380.66 29584.68 16923.53 32641.94 26221.14 18489.84 -2261.28 +3363.54 -1566.31
of which back to back 4425.41 4448.09 3023.35 4808.26 3682.52 3131.04 -382.85 +765.57 -107.69

Source : Foreign Exchange Policy Department, Bangladesh Bank.

24