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Bangladesh Bank: Major Economic Indicators - April 2018

IM Insights
By IM Insights
1 year ago
Bangladesh Bank: Major Economic Indicators - April 2018

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  1. Volume 04 /2018 April 2018 Major Economic Indicators: Monthly Update Monetary Policy Department BANGLADESH BANK
  2. Contents Page No . Executive summary 1-2 1. Monetary and credit developments 3 2. Reserve money developments 4 3. CPI and inflation 5 4. 5. Liquidity position of the scheduled banks Financial sector prices a) Weighted average yields on bills and bonds b) Interest rate spread 6 6. Capital market developments 9 7. 8. Agricultural credit and non-farm rural credit Industrial and SME loans a) Industrial term loans b) Outstanding position of SME loans Industrial production a)Quantum index of medium and large-scale manufacturing industry b)Quantum index of small scale manufacturing industry Exports a) Annual exports b) Monthly exports c) Category-wise breakdown of exports Imports a) Custom based import, import LCs settlement and LCs opening b) Sector-wise fresh opening, settlement and outstanding LCs c) Projected data on opening of import LCs & probable liabilities against BTB LCs 10 12. Workers’ remittances 17 13. Foreign exchange holdings by Bangladesh Bank and Commercial Banks 17 14. Foreign aid 18 15. Exchange rate movements 19 16. 17. Balance of payments Public finance a) Government tax revenue collections b) Sale and repayment of National Savings Certificates (NSC) c) Budget financing 20 Food situations 23 9. 10. 11. 18. Appendix 7 8 11 11 12 12 13 13 14 15 16 16 21 22 23 24 -25 Comments and suggestions may be sent to: monjurul.haque@bb.org.bd mnurul.islam@bb.org.bd sadia.sultana@bb.org.bd nabila.fahria@bb.org.bd 0
  3. Executive Summary 1 . Movement of monetary indicators Broad money(M2) growth continued to slow down and private sector credit growth also slightly reduced in March 2018. Broad money (M2) increased by 9.25 percent (y-o-y) in March 2018 which was lower than 13.08 percent of the same month of the previous year. Net foreign assets and net domestic assets registered 3.51 percent and 11.31 percent growth respectively in March 2018. Private sector credit recorded 17.98 percent growth in March 2018 which was significantly higher than 16.06 percent of the same month of the previous year but lower than 18.49 percent growth of the previous month. 2. Inflation scenario Point to point inflation decreased but 12-month average inflation increased in March 2018. The point-to-point inflation decreased to 5.68 percent in March 2018 from 5.72 percent in February 2018 while twelve-month average inflation increased to 5.82 percent in March 2018 from 5.80 percent in February 2018. 3. State of the financial sector Weighted average interest rate spread of all scheduled banks narrowed in February 2018 but call money rate increased up to April 23, 2018. The spread between the weighted average interest rates on advances and deposits of all scheduled banks narrowed in February, 2018 from that of January, 2018 and stood at 4.37 percent. However, the weighted average call money rate in the inter-bank money market increased to 4.44 percent up to April 23, 2018 from 4.40 percent of March, 2018. 4. External sector performance Export growth increased during July-March, 2017-18. Merchandise commodity export increased to USD 27.45 billion during July-March, Import growth notably increased during July-February, 2017-18. Custom based import during July-February, 2017-18 increased by 26.22 percent and 2017-18 which was 6.33 percent higher than USD 25.82 billion during July-March, 2016-17, according to EPB data. stood at USD 38.72 billion which was USD 30.67 billion during July-February, 2016-17. Fresh opening of import LCs during July-February, 2017-18 increased by 60.71 percent as compared to the same period of the previous year and stood at USD 50.20 billion. The sectoral distribution of LCs opening shows that during July-February 2017-18, the share of total LCs opening of industrial raw materials is 25.77%, consumer goods 12.08%. machinery for miscellaneous industry 8.32%, capital machinery 8.81%, intermediate goods 6.01%, petroleum and petroleum products 4.43%. 1
  4. External sector performance (contd.) Workers’ remittances inflow increased during July-March, 2017-18 Total Receipts of workers’ remittances increased by USD 1.57 billion or 17.04 percent during July-March, 2017-18 as compared to that of July-March, 2016-17. Receipts of workers’ remittances in March 2018 also increased by 13.18 percent and stood at USD 1.30 billion against that of February 2018 and by 20.69 percent against USD 1.08 billion of March 2017. Current account balance continued to a deficit during JulyFebruary, 2017-18. Current account balance recorded a deficit of USD 6.32 billion during July-February, 201718 due mainly to a significant trade deficit and lower income from services and primary income accounts compared to that of July-February, 2016-17. The total foreign aid disbursements during July-February, 2017-18 increased by USD 1.45 billion or 73.71 percent and stood at USD 3.42 billion as compared to that of July-February, Total foreign aid and net reciepts of foreign aid were significantly higher during JulyFebruary, 2017-18. 2016-17. Net receipt of foreign aid also increased by USD 1.34 billion or 95.48 percent and stood at USD 2.74 billion during July-February, 2017-18 as compared to that of JulyFebruary, 2016-17. The gross foreign exchange reserves of BB stood at USD 32.40 billion (with ACU liability of USD 0.67 billion) as of end March 2018, as compared to USD 33.37 billion (with ACU Forex reserves stood at 33.14 billion as on April 26, 2018 liability of USD 1.56 billion) as of end February 2018. As per the latest available data, gross foreign exchange reserves stood at USD 33.14 billion (with ACU liability of USD 1.39 billion) as on April 26, 2018. 5. Developments in the fiscal sector NBR tax revenue collection continued to a strong growth during July-February, 2017-18. NBR Tax Revenue collection stood at Taka 131226.92 crore during July-February, 2017-18 which was 15.64 percent higher than Taka 109266.91 crore during July-February, 2016-17. 6. Credit disbursement and industrial production The disbursement of agricultural credit increased by 1.72 percent and the disbursement Agricultural credit, SME loan and the general index of industrial production have increased while the disbursement of industrial term loans decreased during the period under review. of non-farm rural credit increased by 10.54 percent during July-February, 2017-18 as compared to July-February, 2016-17. Outstanding SME loans provided by banks and non-bank financial institutions at the end of December 2017 increased by 17.25 percent compared to the same period of the previous year. Disbursement of industrial term loans during the second quarter of FY18 decreased by 8.65 percent and stood at Taka 17881.23 crore while recovery increased by 36.26 percent as compared to the corresponding period of the previous fiscal year. The general index of industrial production (medium & large scale manufacturing) stood at 330.81 during July-November, 2017 recording an increase of 22.05 percent from the index of 271.05 during July-November, 2016. Note: The information furnished in this executive summary and the subsequent pages are provisional and subject to revision. 2
  5. 1 . Monetary and credit developments (Taka in Crore) Outstanding stock Changes in outstanding stock June 2017 over June 2016 March 2018 over June 2017 March 2018 over March 2017 March 2017 over June 2016 March 2017 over March 2016 4 5 6 7 8 9 266697.00 263071.40 33576.10 (+14.40) -3625.60 (-1.36) 8925.50 (+3.51) 21025.00 (+9.02) 33818.40 (+15.35) 683257.00 749379.00 791041.80 66122.00 (+9.68) 41662.80 (+5.56) 80364.60 (+11.31) 27420.20 (+4.01) 77819.90 (+12.30) a) Domestic credit 801280.00 890670.30 964205.20 89390.30 (+11.16) 73534.90 (+8.26) 118963.90 (+14.07) 43961.30 (+5.49) 91750.40 (+12.18) Public sector 130270.70 114613.80 92773.70 -15656.90 (-12.02) -21840.10 (-19.06) -13826.80 (-12.97) -23670.20 (-18.17) -10448.00 (-8.93) Government (net) 114219.60 97333.60 74575.40 -16886.00 (-14.78) -22758.20 (-23.38) -15736.70 (-17.42) -23907.50 (-20.93) -9466.00 (-9.49) Other Public 16051.10 17280.20 18198.30 1229.10 (+7.66) 918.10 (+5.31) 1909.90 (+11.73) 237.30 (+1.48) -982.00 (-5.69) Private sector 671009.30 776056.50 871431.50 105047.20 (+15.66) 95375.00 (+12.29) 132790.70 (+17.98) 67631.50 (+10.08) 102198.40 (+16.06) -118023.00 -141291.30 -173163.40 -23268.30 -31872.10 -38599.30 -16541.10 -13930.50 916377.90 1016076.00 1054113.20 99698.10 38037.20 89290.10 48445.20 111638.30 (+10.88) (+3.74) (+9.25) (+5.29) (+13.08) 15457.30 (+12.66) -9398.70 (-6.83) 14023.20 (+12.29) -7964.60 (-6.52) 17513.70 (+18.13) 84240.80 (+10.61) 47435.90 (+5.40) 75266.90 (+8.85) 56409.80 (+7.10) 94124.60 (+12.44) Particulars June 2016 1 2 3 A. Net Foreign Assets of the banking system 233120.90 B. Net Domestic Assets of the banking system b) Other items (net) C. Broad money (A+B) June 2017 R March 2018 P i) Currency outside banks 122074.50 137531.80 128133.10 ii) Deposits 794303.40 878544.20 a) Demand deposits 90356.20 102546.60 97139.00 12190.40 (+13.49) -5407.60 (-5.27) 8640.20 (+9.76) -1857.40 (-2.06) 13597.80 (+18.15) b) Time deposits 703947.20 775997.60 828841.10 72050.40 (+10.24) 52843.50 (+6.81) 66626.70 (+8.74) 58267.20 (+8.28) 80526.80 (+11.81) 925980.10 Source: Statistics Department, BB. Note:- Figures in brackets indicate percentage changes. P=provisional, R= Revised. Broad money The broad money (M2) recorded an increase of Taka 89290.10 crore or 9.25 percent at the end of March 2018 against the increase of Taka 111638.30 crore or 13.08 percent at the end of March 2017. Of the sources of broad money, net domestic assets (NDA) rose by Taka 80364.60 crore or 11.31 percent and net foreign assets (NFA) rose by Taka 8925.50 crore or 3.51 percent at the end of March 2018 as compared to the same month of the previous year. Domestic credit The domestic credit recorded an increase of Taka 118963.90 crore or 14.07 percent at the end of March 2018 against the increase of Taka 91750.40 crore or 12.18 percent at the end of March 2017. Credit to the private sector recorded a growth of 17.98 percent while credit to the public sector decreased by 12.97 percent in March 2018 as compared to the same month of the previous year. Trends of broad money growth (year-on-year) 16.0 16.0 2016-17 15.0 Trends of domestic credit growth (year-on-year) 2016-17 2017-18 2017-18 15.0 13.08 12.0 11.0 Percentage 13.0 14.0 14.07 13.0 12.0 10.0 12.18 11.0 9.0 9.25 Mar. Feb. Jan. Dec. Nov. Oct. Sep. Jul. Feb. Jan. Dec. Nov. Oct. Sep. Aug. Mar. 3 Aug. 10.0 8.0 Jul. Percentage 14.0
  6. 2 . Reserve money developments (Taka in crore) Outstanding stock Changes in outstanding stock June 2017 over June 2016 March 2018 over June 2017 March 2018 over March 2017 March 2017 over June 2016 March 2017 over March 2016 4 5 6 7 8 9 252027.00 252905.80 33137.60 (+15.14) 878.80 (+0.35) 10536.90 (+4.35) 23479.50 (+10.73) 34951.40 (+16.85) -25688.10 -27367.60 -40655.40 -1679.50 (-6.54) -13287.80 (-48.55) 9100.30 (+18.29) -24067.60 (-93.69) -4219.90 (-9.27) Claims on Govt.(net) 13373.70 12977.70 10068.40 -396.00 -2909.30 10287.20 -13592.50 -4942.40 Claims on other public 2015.50 2157.80 2213.90 142.30 (+7.06) 56.10 (+2.60) 364.50 (+19.71) -166.10 (-8.24) -181.90 (-8.95) Claims on DMBs 6024.40 5054.40 5064.90 -970.00 (-16.10) -455.80 10.50 (+0.21) -10445.10 -72.90 (-1.42) -1478.50 -886.60 (-14.72) -9422.40 -210.10 (-3.93) 1114.50 Particulars June 2016 June 2017 1 2 3 Net Foreign Assets of Bangladesh Bank 218889.40 Net Domestic Assets of Bangladesh Bank* Other items (net) R March 2018 P -47101.70 -47557.50 -58002.60 193201.30 224659.40 212250.40 31458.10 (+16.28) -12409.00 (-5.52) 19637.20 (+10.20) -588.10 (-0.30) 30731.50 (+18.98) 132305.20 151265.20 140175.90 18960.00 (+14.33) -11089.30 (-7.33) 15701.10 (+12.61) -7830.40 (-5.92) 19438.10 (+18.51) i) Currency outside banks 122074.50 137531.80 128133.10 15457.30 (+12.66) -9398.70 (-6.83) 14023.20 (+12.29) -7964.60 (-6.52) 17513.70 (+18.13) ii) Cash in tills 10230.70 13733.40 12042.80 Deposits held with BB 60896.10 73394.20 72074.50 3502.70 (+34.24) 12498.10 (+20.52) -1690.60 (-12.31) -1319.70 (-1.80) 1677.90 (+16.19) 3936.10 (+5.78) 134.20 (+1.31) 7242.30 (+11.89) 1924.40 (+22.80) 11293.40 (+19.87) 5986.55 11130.58 4853.59 5144.03 -6277.00 -3797.27 2664.31 4063.67 4.74 4.52 4.97 -0.22 0.44 -0.04 0.27 -0.26 Reserve money Currency Issued Of which: Excess reserves Money multiplier Source: Statistics Department, BB. Note:- Figures in brackets indicate percentage changes. P=provisional, R= Revised. * Note :- The change in Net Domestic Assets (NDA) is calculated with the formula : NDA Current −NDA Previous NDA Previous X 100 Reserve Money Reserve money recorded an increase of Taka Trends of reserve money growth (year-on-year) 19637.20 crore or 10.20 percent at the end of March 28.5 26.5 18.98 percent at the end of March 2017. Of the 24.5 sources of reserve money, net foreign assets of 22.5 2017-18 20.5 18.98 18.5 16.5 increased by Taka 9100.30 crore or 18.29 percent at 14.5 the end of March 2018 as compared to March 2017. 12.5 10.20 10.5 4 Jan. Dec. Nov. Oct. Sep. 2018 which was 4.52 at the end of June 2017. Aug. 8.5 Jul. Money multiplier stood at 4.97 at the end of March Mar. or 4.35 percent and net domestic assets of BB 2016-17 Feb. Bangladesh Bank increased by Taka 10536.90 crore Percentage 2018 against the increase of Taka 30731.50 crore or
  7. 3 . CPI and Inflation Consumer Price Index (CPI) and Rate of Inflation at National Level (Base : FY2005-06=100) Twelve-Month Average Basis General Food Point to Point Basis Non-food General Food Non-food Index Inflation Index Inflation Index Inflation Index Inflation Index Inflation Index Inflation 2010-11 156.59 10.91 170.48 14.11 138.77 6.21 161.38 11.14 175.24 13.84 143.60 7.16 2011-12 170.19 8.69 183.65 7.72 152.94 10.21 170.32 5.54 179.74 2.57 158.25 10.20 2012-13 181.73 6.78 193.24 5.22 166.97 9.17 184.04 8.06 194.58 8.26 170.53 7.76 2013-14 195.08 7.35 209.79 8.57 176.22 5.54 196.86 6.97 210.15 8.00 179.82 5.45 2014-15 207.58 6.41 223.80 6.68 186.79 5.99 209.17 6.25 223.43 6.32 190.88 6.15 2015-16 219.86 5.92 234.77 4.90 200.74 7.47 220.74 5.53 232.87 4.23 205.19 7.50 2016-17 July 220.82 5.84 235.60 4.76 201.86 7.48 224.13 5.40 237.69 4.35 206.75 6.98 August 221.78 5.77 236.43 4.62 202.99 7.53 226.57 5.37 241.89 4.30 206.93 7.00 September 222.78 5.71 237.43 4.56 204.00 7.48 230.27 5.53 247.88 5.10 207.69 6.19 October 223.80 5.66 238.53 4.53 204.91 7.38 231.85 5.57 250.64 5.56 207.75 5.58 November 224.78 5.60 239.60 4.51 205.79 7.27 231.18 5.38 249.41 5.41 207.81 5.33 December 225.71 5.52 240.66 4.51 206.54 7.05 231.53 5.03 249.29 5.38 208.76 4.49 January 226.66 5.43 241.94 4.70 207.07 6.57 234.34 5.15 251.86 6.53 211.88 3.10 February 227.65 5.41 243.29 4.95 207.60 6.11 234.40 5.31 251.93 6.84 211.92 3.07 March 228.65 5.39 244.65 5.20 208.14 5.67 235.29 5.39 253.32 6.89 212.18 3.18 April 229.67 5.38 246.02 5.46 208.71 5.25 235.58 5.47 253.60 6.94 212.48 3.30 May 230.73 5.41 247.44 5.75 209.29 4.89 232.83 5.76 248.94 7.37 212.18 3.44 June 231.82 5.44 248.90 6.02 209.92 4.57 233.86 5.94 250.35 7.51 212.72 3.67 2017-18 July 232.86 5.45 250.28 6.23 210.53 4.29 236.61 5.57 254.20 6.95 214.05 3.53 August 233.97 5.50 251.75 6.48 211.17 4.03 239.92 5.89 259.60 7.32 214.68 3.75 September 235.15 5.55 253.38 6.72 211.77 3.81 244.36 6.12 267.38 7.87 214.84 3.44 October 236.31 5.59 254.97 6.89 212.40 3.65 245.86 6.04 269.73 7.62 215.26 3.61 November 237.45 5.64 256.44 7.03 213.11 3.56 244.85 5.91 267.10 7.09 216.33 4.10 December 238.58 5.70 257.92 7.17 213.78 3.50 245.03 5.83 267.06 7.13 216.79 3.85 January 239.73 5.76 259.52 7.26 214.35 3.51 248.13 5.88 271.05 7.62 218.73 3.23 February 240.84 5.80 261.05 7.30 214.94 3.54 247.81 5.72 270.25 7.27 219.04 3.36 March 241.96 5.82 262.54 7.31 215.56 3.57 248.65 5.68 271.27 7.09 219.64 3.52 Source: Bangladesh Bureau of Statistics, Ministry of Planning. The twelve month average general inflation edged up marginally to 5.82 percent in March 2018 from 5.80 percent of February 2018. The average food inflation increased to 7.31 percent and the average non-food inflation increased to 3.57 percent in March 2018 from February 2018. CPI(Base:FY2005-06=100) Inflation 6.3 12 month average Point to point 6.1 Percentage 6.0 The point to point general inflation decreased to 5.68 percent in March 2018 from 5.72 percent in February 2018, as food inflation decreased to 7.09 percent from 7.27 percent of February 2018. However, non-food inflation increased to 3.52 in March 2018 compared to 3.36 percent of February 2018. 5.8 5.7 5.5 5 Mar.18 Feb.18 Jan.18 Dec.17 Nov.17 Oct.17 Sep.17 Aug.17 Jul.17 Jun.17 May 17 Apr.17 5.2 Mar.17 5.4
  8. 4 . Liquidity position of the scheduled banks (Taka in crore) As of end June, 2017 Bank Group 1 As of end February 2018 P Total Liquid Assets Cash in tills + balances with Sonali Bank Ltd. 2 3 Balances with Bangladesh Bank CRR State-owned Banks Specialised Banks Unencumbered approved securities Total Liquid Assets Minimum Required Liquid Local Currency1/ Foreign Currency 4a 4b 5 6=(3+4a+4b+5) 7 * Assets 2/ Excess Reserve (un-invested cash) 109029.15 2349.64 17401.48 304.12 145.07 74857.99 95058.29 51810.31 1692.35 0.00 1781.58 0.00 13.79 0.00 1795.37 1781.58 Private Banks (Other than Islamic) 107163.15 8242.08 30498.46 824.27 1800.57 62535.45 103900.83 90900.88 Islamic Banks 29187.52 2617.51 12986.23 2746.62 271.97 8559.99 27182.32 23974.58 Foreign Banks 20122.14 682.82 2733.66 621.28 3677.01 14108.96 21823.73 8062.21 Total 267194.31 13892.05 65401.41 4496.29 5908.40 160062.39 249760.54 176529.56 (+5.56) (+26.19) (+1.80) (+2.37) (+64.09) Source : Department of Offsite Supervision, BB. Comment: The data shown on the above table are based on the regulatory purpose of Bangladesh Bank. Note :- Figures in brackets indicate sectoral share in the total liquid assets. P=provisional, R= Revised. *CRR is calculated @ 6.5% of total demand and time liabilities. 1/ Balances with Bangladesh Bank in local currency = CRR + Excess Reserve. 2/ Minimum required liquid assets is the sum of CRR and SLR. Total liquid assets of the scheduled banks decreased by 6.52 percent and stood at Taka 249760.54 crore as of end February, 2018 which was Taka 267194.31 crore at the end of June, 2017. The minimum required liquid assets of the scheduled banks were Taka 176529.56 crore as of end February, 2018. Sectoral distribution of total liquid assets as of end February, 2018 in the form of cash in tills & balances with Sonali Bank Ltd., CRR, excess reserves, foreign currency balances with Bangladesh Bank and un-encumbered approved securities were 5.56 percent, 26.19 percent, 1.80 percent, 2.37 percent, and 64.09 percent respectively of total liquid assets. Liquid assets & minimum required liquidity Sectoral distribution of total liquid assets (as of end February 2018) Liquid assets 2950 Minimum required liquid assets 2650 2350 Billion taka Foreign Currency Balances with BB 2.37% Unencumbered approved securities, 64.09% 3250 Excess Reserve, 1.80% 2050 1750 1450 1150 850 550 Cash in tills+balances with SBL, 5.56% 6 Feb.18 Jan.18 Dec.17 Nov.17 Oct.17 Sep.17 Aug.17 Jul.17 Jun.17 May.17 Apr.17 Mar.17 250 Feb.17 CRR, 26.19%
  9. 5 . Financial sector prices: a) Weighted average yields on bills and bonds: Treasury Bills 91-Day BGTB Repo* Reverse Repo Call Money Rate BB Bill 182-Day 364-Day 2-Year 5-Year 10-Year 15-Year 20-Year 30-Day 2016-17 July 4.72 5.31 5.88 6.50 7.05 7.46 7.97 8.44 2.93 6.75 4.75 3.68 August 3.48 ---- ---- 5.99 6.53 7.10 7.80 8.24 2.96 6.75 4.75 3.65 September 3.26 3.99 4.25 5.31 ---- ---- 7.69 8.17 2.96 6.75 4.75 3.64 October 3.12 3.35 4.00 5.19 6.00 6.89 7.53 7.99 2.97 6.75 4.75 3.52 November 2.99 ---- ---- 4.39 5.72 6.77 7.46 7.91 2.97 6.75 4.75 3.56 December 2.98 3.23 3.76 ---- 5.91 6.32 7.64 7.89 2.97 6.75 4.75 3.62 January 2.97 3.14 3.53 4.23 5.79 6.65 7.47 7.78 2.97 6.75 4.75 3.54 February 2.90 ---- ---- ---- 5.02 6.62 7.15 7.48 2.97 6.75 4.75 3.50 March ---- ---- ---- ---- ---- ---- ---- ---- 2.97 6.75 4.75 3.66 April 2.86 ---- ---- ---- ---- ---- ---- ---- 2.97 6.75 4.75 3.76 May ---- ---- ---- ---- ---- ---- ---- ---- 2.97 6.75 4.75 3.81 June 3.65 4.11 4.37 4.90 5.68 6.74 7.66 8.00 2.96 6.75 4.75 3.93 July 4.05 4.28 4.42 4.98 5.86 6.91 ---- ---- 2.96 6.75 4.75 3.72 August ---- ---- ---- ---- ---- ---- ---- ---- 2.97 6.75 4.75 3.77 September 3.85 4.01 4.25 4.82 5.68 6.91 7.71 8.02 2.97 6.75 4.75 3.91 October 3.33 ---- ---- ---- 5.63 6.94 ---- ---- 2.97 6.75 4.75 3.87 November 3.06 ---- ---- ---- ---- ---- ---- ---- 2.97 6.75 4.75 3.82 December 3.38 3.86 4.35 5.03 5.90 7.17 7.93 8.25 2.97 6.75 4.75 3.92 January 3.36 3.86 4.25 5.12 5.95 7.35 8.19 8.48 2.97 6.75 4.75 3.90 2017-18 February March April --- --- --- --- --- --- --- --- 2.96 6.75 4.75 4.11 3.23 3.63 4.00 5.26 5.82 7.32 8.08 8.45 2.97 6.75 4.75 4.40 2.78 --- --- 5.33 5.66 7.08 --- --- --- 6.00 4.75 4.44 @ Source: MPD and DMD, BB . ---- = there was no auction. @ = upto April 23 rd , 2018. * The Repo rate is re-fixed at 6.00% , with effect from 15.04.2018. The weighted average yields on 91-Day treasury bills decreased from that of March, 2018 at 2.78 percent in April, 2018. The weighted average yields on 182-Day and 364-Day treasury bills decreased from that of January, 2018 at 3.63 percent and 4.00 percent respectively in March 2018. The weighted average yields on 2-Year, 5-Year and 10-Year BGTB stood at 5.33 percent, 5.66 percent and 7.08 percent in April, 2018. The weighted average yields on 15-Year and 20-Year BGTB stood at 8.08 percent and 8.45 percent in March 2018. The weighted average yield on 30-Day BB Bill in March, 2018 stood at 2.97 percent, which is marginally higher from February, 2018. The weighted average call money rate in the inter-bank money market increased to 4.44 percent up to April 23, 2018 as compared to 4.40 percent in March, 2018. Yield on Treasury Bills Repo, Reverse Repo & Call Money Rate 91-Day Call Money Rate W.ave. yield in percent 6.8 6.0 5.3 4.5 3.8 364-Day 4.3 3.8 3.3 2.8 Apr.18 (upto 23) u 7 Apr.18 Mar.18 Jan.18 Feb.18 Dec.17 Nov.17 Oct.17 Sep.17 Aug.17 Jul.17 2.3 Apr.17 Mar.18 Jan.18 Feb.18 Dec.17 Oct.17 Nov.17 Sep.17 Jul.17 Aug.17 Jun.17 Apr.17 3.0 182-Day 4.8 Jun.17 Reverse Repo May.17 Repo* 7.5 May17 W. average rate in percent 5.3
  10. b ) Interest rate spread: Sector-wise break down of interest rate spread in the banks All other sectors SME Agriculture Large Industries (excluding SME) All Banks Interest rate on deposits Non-Bank FIs Services Interest Interest Interest Interest Interest Interest rate on Spread rate on Spread rate on Spread rate on Spread rate on Spread rate on Spread advances advances advances advances advances advances Interest rate on deposits Interest rate on Spread advances 2016-17 July 5.48 10.32 4.84 11.35 5.87 10.03 4.55 9.43 3.95 9.77 4.29 10.32 4.84 8.90 12.89 3.99 August 5.44 10.24 4.80 11.21 5.77 9.97 4.53 9.61 4.17 9.75 4.31 10.29 4.85 8.84 12.80 3.96 September 5.39 10.11 4.72 11.04 5.65 9.90 4.51 9.70 4.31 9.62 4.23 10.07 4.68 8.71 12.68 3.97 October 5.33 10.03 4.70 10.90 5.57 9.79 4.46 9.57 4.24 9.46 4.13 10.02 4.69 8.61 12.73 4.12 November 5.29 9.94 4.65 10.86 5.57 9.68 4.39 9.34 4.05 9.33 4.04 10.03 4.74 8.53 12.35 3.82 December 5.22 9.93 4.71 10.79 5.57 9.68 4.46 9.31 4.09 9.32 4.10 9.95 4.73 8.47 12.32 3.85 January 5.13 9.85 4.72 10.67 5.54 9.61 4.48 9.37 4.24 9.25 4.12 9.90 4.77 8.42 12.26 3.84 February 5.08 9.77 4.69 10.66 5.58 9.51 4.43 9.34 4.26 9.17 4.09 9.82 4.74 8.38 12.19 3.81 March 5.01 9.70 4.69 10.60 5.59 9.44 4.43 9.35 4.34 9.09 4.08 9.65 4.64 8.34 12.07 3.73 April 4.97 9.62 4.65 10.56 5.59 9.35 4.38 9.29 4.32 9.02 4.05 9.55 4.58 8.35 11.98 3.63 May 4.93 9.66 4.73 10.65 5.72 9.39 4.46 9.30 4.37 9.09 4.16 9.66 4.73 8.37 11.79 3.42 June 4.84 9.56 4.72 10.39 5.55 9.32 4.48 9.36 4.52 9.05 4.21 9.51 4.67 8.37 11.69 3.32 July 4.89 9.51 4.62 10.37 5.48 9.26 4.37 9.00 4.11 9.01 4.12 9.43 4.54 8.34 11.61 3.27 August 4.93 9.46 4.53 10.30 5.37 9.22 4.29 8.97 4.04 8.95 4.02 9.40 4.47 8.33 11.59 3.26 September 4.90 9.45 4.55 10.09 5.19 9.27 4.37 8.90 4.00 8.96 4.06 9.52 4.62 8.31 11.49 3.18 October November 4.89 9.39 4.50 9.85 4.96 9.25 4.36 8.89 4.00 8.95 4.06 9.37 4.48 8.33 11.35 3.02 4.90 9.30 4.40 9.83 4.93 9.15 4.25 8.87 3.97 8.78 3.88 9.23 4.33 8.39 11.34 2.95 December January 4.91 9.35 4.44 9.93 5.02 9.19 4.28 8.86 3.95 8.87 3.96 9.26 4.35 8.48 11.41 2.93 5.01 9.42 4.41 9.97 4.96 9.26 4.25 8.88 3.87 8.97 3.96 9.38 4.37 8.63 11.42 2.79 February 5.18 9.55 4.37 10.09 4.91 9.39 4.21 8.84 3.66 9.14 3.96 9.67 4.49 8.96 11.71 2.75 2017-18 Source: Statistics Department, Bangladesh Bank . The spread between the weighted average interest rate on advances and deposits of all banks narrowed marginally at the end of February, 2018 as compared to January, 2018 and stood at 4.37 and that of NBFIs also narrowed and stood at 2.75 percent. Both weighted average interest rate on deposits of all banks and NBFIs increased to 5.18 percent and 8.96 percent respectively at the end of February, 2018 as compared to that of January, 2018. Sector-wise breakdown of interest rate spread Institution wise breakdown of interest rate spread 5.20 Banks 6.70 NBFIs W. Ave. rate in percent 4.40 4.00 3.60 3.20 2.80 Agriculture Large Industries Services 5.70 5.20 4.70 4.20 3.70 Feb.18 Jan.18 Dec.17 Nov.17 Oct.17 Sep.17 Aug,17 Jul. 17 Jun. 17 May 17 Apr. 17 Feb. 17 Jan.18 Dec.17 Nov.17 Oct.17 Sep.17 Aug,17 Jul. 17 Jun. 17 May 17 Apr. 17 Mar. 17 Feb.18 8 Mar. 17 3.20 2.40 Feb. 17 W. Ave. rate in percent SME 6.20 4.80
  11. 6 . Capital market developments: Calender Year Annual capital market developments in DSE (Taka in crore ) General Index / Enlisted issues Issued Capital Market DSE (Incl. Mutual Turnover during and Debentures Capitalisation Broad Index Funds/Deb.) the Year 2010 445 66436.00 347250.20 400991.28 8290.41 2011 501 87890.50 261673.00 156055.63 5257.61 2012 515 94987.60 240356.00 100108.49 4219.31 2013 529 99978.50 264779.00 95269.21 4266.55 2014 546 105492.60 325925.00 118852.15 4864.96 2015 559 110608.10 315976.00 103139.86 4629.64 2016 560 114530.00 341244.10 119157.12 5036.05 Monthly capital market developments in DSE Enlisted issues (Taka in crore) End Month (Incl. Mutual Issued Capital Funds/Deb.) Janaury'17 560 February'17 DSE Broad Index (DSEX) and Debentures Market Capitalisation Turnover during the month 114693.00 366811.50 34232.02 5468.34 562 114910.10 373930.40 19404.84 5612.70 March'17 562 115255.20 379830.60 21770.14 5719.61 April'17 562 115607.00 371092.80 15317.78 5475.55 May'17 562 115791.00 368301.90 12258.22 5403.12 June'17 563 116551.10 380100.10 10156.38 5656.05 July'17 564 117018.70 396133.80 20929.46 5860.65 August'17 564 117554.50 402090.80 19589.24 6006.43 September'17 564 117805.40 407208.30 19944.12 6092.84 October'17 566 118151.90 409026.60 15697.43 6019.59 November'17 567 118248.50 424149.60 18421.80 6306.86 December'17 569 119416.20 422894.50 9238.28 6244.52 January'18 568 119361.80 418513.30 10072.16 6039.78 February'18 568 119471.20 404438.90 7679.69 5804.94 March'18 570 119743.70 391718.60 6714.94 5597.44 Source : Dhaka Stock Exchange The DSE Broad Index (DSEX) at the end of March 2018 stood lower at 5597.44 compared to that of end February, 2018. The total market capitalization of all shares and debentures of the listed securities at the end of March, 2018 also stood lower at Taka 391718.60 crore from Taka Trends in market capitalisation and indices of DSE 4700 6800 Capitalisation in billion taka (LHS) DSEX (RHS) 4400 6450 4100 6100 3800 5750 3500 5400 5050 3200 4700 2900 404438.90 crore at the end of February, 2018. 4350 2600 4000 9 Mar. 18 Jan. 18 Feb. 18 Dec. 17 Oct.17 Nov. 17 Sep.17 July17 Aug.17 June17 Apr.17 3300 May17 3650 2000 Mar.17 2300
  12. 7 . Agricultural credit and non-farm rural credit a. Agricultural credit (Taka in crore) 2017-18 Month P 2016-17 Disbursement Recovery Disbursement b. Non-farm rural credit R (Taka in crore) 2017-18 Month Recovery P 2016-17 R Disbursement Recovery Disbursement Recovery July 1489.57 1500.40 945.31 868.12 July 84.50 113.21 110.69 77.53 August 1153.12 1159.76 933.15 1109.60 August 66.86 92.41 73.48 80.25 September 1355.18 1548.65 1238.48 1228.38 September 86.51 149.38 142.74 178.51 October 1875.81 1521.40 1644.19 1475.02 October 93.21 92.94 184.67 109.42 November 1808.02 1754.58 2133.42 1718.80 November 218.10 210.42 164.94 123.79 December 2251.64 1826.67 2114.37 1787.99 December 273.22 162.00 247.61 233.90 January 1729.80 1573.98 2013.73 1655.57 January 216.63 170.43 211.93 168.17 February 1416.02 1376.70 1574.79 1349.69 February 402.23 344.06 195.95 151.45 March 75.11 March 1488.68 1680.21 1723.59 1573.66 July-March 14567.85 (+1.72) 13942.34 (+9.21) 14321.03 (+22.73) 12766.83 (+11.71) July-March 205.07 117.44 157.38 1646.32 (+10.54) 1452.30 (+21.21) 1489.39 (+30.11) 1198.13 (-1.38) Programmed level for disbursement of agricultural credit and non-farm rural credit was Tk.20400.00 crore for FY18. Disbursement of agricultural credit and non-farm rural credit increased by 1.72 percent and 10.54 percent during July-March, 2017-18 compared to that of July-March, 2016-17. The banks disbursed a total of Taka 162.14 billion to both the sectors during July-March, 2017-18. The recovery of the agriculture credit and non-farm rural credit increased by 9.21 percent and 21.21 percent respectively during July-March, 2017-18 as compared to the same period of the previous year. Agricultural credit disbursement 2016-17 Non-farm rural credit disbursement 480 2017-18 2016-17 2400 430 2100 380 1800 330 In crore taka 1500 1200 900 2017-18 280 230 180 Mar. Feb. Jan. Dec. Nov. Oct. Sep. Mar. Feb. Jan. Dec. Nov. Oct. Sep. Aug. 30 Jul. 80 300 Aug. 130 600 Jul. In crore taka 2700 Overdue and outstanding credit in agricultural sector (Taka in crore) 2017-18 End Month March P Overdue Outstanding 6809.91 (+5.34) 40420.62 (+8.87) 2016-17 Overdue as % of outstanding 16.85 Overdue Outstanding 6464.63 (+9.62) 37128.07 (+14.26) R Overdue as % of outstanding 17.41 Source: Agricultural Credit Department. The position of overdue agricultural credit as percentage of total outstanding credit improved, decreasing from 17.41 percent at the end of March, 2017 to 16.85 percent at the end of March, 2018. 10
  13. 8 . Industrial and SME loans a) Industrial term loans Yearly (Taka in crore) Period Recovery Disbursement LSI MSI SSCI Total LSI MSI SSCI Total FY 2013-14 29046.19 9585.93 3679.20 42311.32 28999.63 9423.48 3383.58 41806.69 FY 2014-15 45468.67 9689.37 4625.66 59783.70 32801.39 9897.35 4842.07 47540.81 FY 2015-16 49252.75 9349.24 6936.69 65538.69 34217.02 8709.42 5298.84 48225.28 Quarterly FY2016-17 July-September 9929.23 1977.24 1138.48 13044.95 8757.30 2393.42 1272.31 12423.03 October-December January-March 14174.89 11874.89 3068.03 2297.39 2332.28 1610.79 19575.20 15783.08 9845.57 11068.85 2137.40 2186.06 1696.30 1292.14 13679.28 14547.05 April-June 10303.45 1780.86 1667.54 13751.85 8189.85 1991.79 1263.57 11445.21 2473.49 (+3.35) 1659.56 (+30.44) 15513.74 (+24.88) FY2017-18 July-September 11786.87 (+18.71) 2434.86 (+23.14) October-December 11932.42 (-15.82) End Period December, 2016 December, 2017 1544.26 (+35.64) 15765.99 (+20.86) 11380.69 (+29.96) 3352.06 2596.75 17881.23 13816.51 2712.16 2110.65 18639.32 (+9.26) (+11.34) (-8.65) (+40.33) (+26.89) (+24.43) (+36.26) Outstanding Overdue LSI MSI SSCI Total LSI MSI SSCI Total 10693.01 6230.83 2284.58 19208.42 100504.66 23001.86 10856.37 134362.89 18133.38 7261.41 2927.96 28322.75 139368.03 31072.90 14575.19 185016.12 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. The disbursement of total industrial term loans during October-December, 2017 decreased by 8.65 percent and stood at Taka 17881.23 crore as compared to Taka 19575.20 crore during October-December, 2016. While the recovery of industrial term loans increased by 36.26 percent and stood at Taka 18639.32 crore during October-December, 2017 against Taka 13679.28 crore during the same period of the previous fiscal year. Outstanding amount of industrial term loans at the end of December, 2017 stood at Taka 185016.12 crore. At the same time the overdue of industrial term loans was 28322.75 crore. b) Outstanding position of SME loans (Taka in crore) The total SME loans by the banks and non-bank financial institutions increased by Taka 29771.85 crore or 17.25 percent and stood at Taka 202410.85 crore at the end of December, 2017 as compared to Taka 172639.00 crore at the end of December, 2016. The increase of SME loans of different category-wise institution at the end of December, 2017 are 13.14 percent in state-owned banks, 17.17 percent in private banks, 61.93 percent in specialized banks and 38.84 percent in non-bank financial institutions as compared to that of December, 2016. While for the foreign banks it decreased by 0.55 percent. Banks/NBFIs Types of Loans State Owned Banks Total Loans 123836.09 503052.70 25148.72 SME Loans 29774.05 132953.57 (24.04) (26.43) Quarter Ending December, 2016 The percentage share of SME loans from different categories of bank and non-bank financial institutions to total SME loan as of end December, 2017 is shown in the pie diagram. Foreign Specialised Banks Banks Non-Bank Fin. Ins. Total 21842.40 48853.18 722733.09 2413.27 594.31 6903.80 172639.00 (9.60) (2.72) (14.13) (23.89) 21842.40 51193.32 748139.12 848.57 (3.88) 7373.96 (14.40) 174564.79 (23.33) 23193.82 53618.35 785137.00 851.23 (3.67) 8168.88 (15.24) 182705.80 (23.27) 23193.78 54938.05 889.16 (3.83) 9126.67 (16.61) 852432.08 190106.39 (22.30) Total Loans 125046.13 523441.58 26615.69 March, 2017 SME Loans 29930.47 (23.94) 134136.23 (25.63) Total Loans 128832.98 550088.87 29402.98 June, 2017 SME Loans 31260.33 (24.26) 139924.51 (25.44) Total Loans 131889.48 593843.20 48567.57 September, 2017 SME Loans 31765.60 (24.09) 145692.91 (24.53) Total Loans 152751.96 813283.24 31038.62 23200.14 48475.82 1068749.78 December, 2017 SME Loans 33685.31 (22.05) 155778.17 (19.15) 2399.93 (7.73) 962.35 (4.15) 9585.09 (19.77) 202410.85 (18.94) 13.14 17.17 -0.55 61.93 38.84 17.25 % changes of SME loans at the end of December, 2017 over December, 2016 SME loans as percentage of total loans stood at 18.94 percent at the end of December, 2017 as compared to 23.89 percent of December, 2016. Private Banks 2275.57 (8.55) 2500.85 (8.51) 2632.05 (5.42) Source: SME & Special Programmes Department, Note:- Figures in brackets indicate SME loans as percentage of total loans. Institution-wise sharing of SME loans (December, 2017) Private Banks, 76.96% Foreign Banks, 1.19% Specialised Banks, 0.47% State Owned Banks, 16.64% 11 Non-Bank Financial Institutions, 4.74%
  14. 9 . Industrial production Quantum index of medium and large-scale manufacturing industry (Base: 2005-06=100) Monthly Index Major Industry Group Weight November'16 R Percentage change P Average Index November'17 P July-November, July-November, 2017 2016R November'17 over November'16 July-November, 2017 over July-November, 2016 100.00% 34.84% 277.22 335.53 347.61 380.42 271.05 324.11 330.81 359.53 25.39 13.38 22.05 10.93 Textile Food products 14.07% 10.84% 155.36 190.46 328.04 540.99 138.35 369.57 183.95 502.47 22.59 64.92 32.96 35.96 Pharmaceuticals and medicinal chemical 8.23% 366.54 552.83 369.05 533.85 50.82 44.65 Non-metalic mineral products 7.12% 321.37 384.06 290.57 357.55 19.51 23.05 Leather and related products 4.40% 171.87 298.02 157.61 298.41 73.40 89.33 Chemicals and chemical products 3.67% 106.64 107.81 95.02 110.30 1.10 16.07 Basic metals 3.15% 165.41 187.64 172.66 181.70 13.44 5.24 Tobacco products 2.92% 139.64 194.51 132.99 159.80 39.29 20.16 Fabricated metal products except machinery 2.32% 242.89 279.44 226.83 271.82 15.05 19.83 Others* 8.44% 277.89 256.53 267.05 270.32 -7.69 1.22 General Wearing apparel Source: Bangladesh Bureau of Statistics. *Others means residual items. P = Provisional, R=Revised. The general index of industrial production (medium & large scale manufacturing) significantly increased by 22.05 percent and stood at 330.81 during July-November, 2017 over July-November, 2016. 400 380 347.61 360 340 Monthly Indices 320 300 280 277.22 260 240 Nov/17 Oct/17 Sep/17 Aug/17 Jul/17 Jun/17 Ma y/17 Apr/17 Ma r/17 Feb/17 Ja n/17 Dec/16 220 Nov/16 All of the sub-indices recorded increases during July-November, 2017 compared to July-November, 2016: leather and related products (89.33%), pharmaceuticals & medicinal chemical (44.65%), food products (35.96%), Textile (32.96%), nonmetallic mineral products (23.05%), tobacco products (20.16%), fabricated metal products except machinery (19.83%), chemicals and chemical products (16.07%), wearing apparel (10.93%) and basic metals (5.24%). Quantum index of medium & large scale manufacturing industries (Base:2005-06=100) The general index of small scale manufacturing Quantum index of small scale manufacturing industries (Base:1995-96=100) industry during the second quarter (October- 500 December, 2016) of FY17 increased by 0.95 480 percent and stood at 483.36 from the index of 478.84 during the first quarter (July-September, 440 2016) of FY17, it also increased by 8.77 percent as 420 compared to the same quarter of FY16. 400 FY15 FY16 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 380 Q1 Indices 460 FY17 12
  15. 10 . Exports A. Annual exports (US$ in million) 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 24301.90 (+5.99) 27027.36 (+11.22) 30186.62 (+11.69) 31208.94 (+3.39) 34257.18 (+9.77) 34846.84 (+1.72) B. Monthly exports 2016-17 2015-16 July Month 2534.31 2625.93 August 3303.50 2758.41 September 2241.01 2374.65 October 2712.83 2371.50 November 2899.32 2749.34 December 3107.13 3204.07 January 3312.04 3185.63 February 2726.12 2854.22 M arch 3109.76 2831.42 April 2775.69 2682.05 M ay 3069.04 3026.99 June 3056.09 34846.84 (+1.72) 3592.97 34257.18 (+9.77) 2017-18P* 2016-17*R July 2987.66 2534.31 August 3640.94 3288.65 September 2034.13 2227.15 October 2843.07 2700.25 November 3057.11 2878.09 December 3353.11 3092.60 January 3408.85 3292.23 February 3072.15 2705.99 M arch 3054.53 27451.55 (+6.33) 3097.33 25816.60 (+3.45) July-June Month July-March Export target was set USD 37500.00 million for FY 2017-18 of which export target for July-March, 2017-18 was USD 27557.00 million. Source : Export Promotion Bureau (EPB). R=Revised; P=Provisional. *Revised according to the revised definition (Primary Commodities+Manufactured Commodoties) of commodity exports by EPB. Note:- Figures in brackets indicate percentage changes over the corresponding period of the preceding year. Merchandise commodity export in March 2018 decreased by USD 0.02 billion or 0.57 percent to USD 3.05 billion from USD 3.07 billion in February 2018 according to EPB data. Total merchandise commodity export during July-March, 2017-18 increased by USD 1.63 billion or 6.33 percent to USD 27.45 billion compared to USD 25.82 billion during July-March, 2016-17. Export growth-cumulative Export performance: Value Trends 4050 20 2016-17 3800 2017-18 2017-18 15 3550 3300 Percentage (Million USD) 2016-17 3050 2800 10 5 2550 2300 0 2050 Latest available data on category-wise breakdown of exports are shown in the next page. 13 Mar. Feb. Jan. Dec. Nov. Oct. Sep. Aug. Jul. Mar. Feb. Jan. Dec. Nov. Oct. Sep. Aug. -5 Jul. 1800
  16. C . Category-wise breakdown of exports (US$ in million ) Changes during July-March, 2017-18 over July-March, 2016-17 July-March, 2017-18 July-March, 2016-17 1. Raw Jute 122.08 142.42 -20.34 -14.28 2. Jute goods (excl.carpet) 696.01 588.60 +107.41 +18.25 2.43 3.48 -1.05 -30.17 4. Frozen and live fish 407.71 382.59 +25.12 +6.57 5. 138.96 201.05 -62.09 -30.88 6. Woven garments 11513.30 10785.28 +728.02 +6.75 7. Particulars 3. Tea Leather Knitwear In amount In percent 11321.14 10143.55 +1177.59 +11.61 8. Chemical products 105.78 107.65 -1.87 -1.74 9. Agricultural products* 108.47 98.43 +10.04 +10.20 256.22 542.64 -286.42 -52.78 2779.45 2820.91 -41.46 -1.47 27451.55 25816.60 1634.95 6.33 10. Engineering products (including electrical goods) 11. Others** TOTAL Source : Export Promotion Bureau (EPB). Note:- * = Includes vegetables, fruits & tobacco, **Others = residual items. Category-wise breakdown of exports shows that during July-March, 2017-18 exports of jute goods (+18.25%), knitwear (+11.61%), agricultural products (+10.20%), frozen & live fish (+6.57%) and woven garments (+6.75%) experienced positive growth compared to that of July-March, 2016-17; on the other hand, engineering products (-52.78%), leather (-30.88%), tea (-30.17%), raw jute (-14.28%) and chemical products (-1.74%) experienced negative growth during July-March, 2017-18 compared to that of July-March, 2016-17. The category-wise share of total exports during July-March, 2017-18 and July-March, 2016-17 are shown in the following pie diagrams. Category-wise share of total exports (July-March, 2017-18) Frozen and live fish, 1.49% Category-wise share of total exports (July-March, 2016-17) Jute goods (excl.carpet) 2.54% Frozen and live fish, 1.48% Others, 12.80% Knitwear, 41.24% Jute goods (excl.carpet), 2.28% Others, 15.17% Knitwear, 39.29% Woven garments, 41.78% Woven garments, 41.94% 14
  17. 11 . Imports a) Custom based import, import LCs settlement and LCs opening (US$ in million) Custom based import (c&f) Month ………………… ………....FY Import LCs settlement Import LCs opening 2013-14 2012-13 2013-14 2012-13 2013-14 2012-13 40616.40 (+8.92) 37289.80 (+0.82) 37188.84 (+14.93) 32358.52 (-7.05) 41818.56 (+16.29) 35961.05 (-2.90) Month 2015-16R 2014-15 2015-16R 2014-15 2015-16R 2014-15 July August September October November December January February March April May June July-June 2856.80 3415.70 3197.20 3866.90 3664.60 3898.30 3591.50 3353.00 3654.00 3541.80 4266.00 3816.70 43122.50 (+5.94) 2556.10 3458.80 3733.00 3304.00 3059.20 3444.80 3268.80 3202.00 3404.10 3835.50 3899.20 3538.20 40703.70 (+0.21) 3437.71 3502.55 2985.45 3268.85 3407.74 3701.52 3351.55 3200.16 3365.75 3154.28 3285.88 3414.76 40076.20 (+4.22) 2964.69 3461.55 3369.85 3145.15 3259.60 3390.64 3037.47 2807.87 3351.97 3179.16 3205.56 3281.73 38455.24 (+3.41) 3011.64 3631.73 3135.37 3232.57 4468.22 3585.21 3387.16 3125.36 3988.72 3546.88 3599.03 4623.44 43335.33 (+0.62) 3655.65 3475.02 3704.30 3142.60 3760.76 3547.28 3501.47 3257.30 4262.45 3518.94 3682.60 3560.39 43068.76 (+2.99) Month July August September October November December January February March April May June July-June 2016-17P 2941.50 3796.60 3531.30 4124.70 4221.60 3994.10 4301.70 3760.90 4311.20 4170.50 4352.00 3499.10 47005.20 (+9.00) 2015-16R 2856.80 3415.70 3197.20 3866.90 3664.60 3898.30 3591.50 3353.00 3654.00 3541.80 4266.00 3816.70 43122.50 (+5.94) 2016-17P 2804.36 4353.94 4451.61 3530.65 3882.78 3565.46 3962.34 3294.45 3790.07 3738.15 3624.66 3274.28 44272.76 (+10.47) 2015-16R 3437.71 3502.55 2985.45 3268.84 3407.74 3701.53 3351.55 3200.16 3365.75 3154.28 3285.88 3414.75 40076.19 (+4.22) 2016-17P 3097.80 4203.03 3471.54 4119.23 3801.95 4329.31 4441.16 3775.34 4430.74 4297.71 4150.92 4007.21 48125.92 (+11.05) 2015-16R 3011.64 3631.73 3135.37 3232.57 4468.22 3585.21 3387.16 3125.36 3988.72 3546.88 3599.03 4623.44 43335.33 (+0.62) Month 2017-18P 2016-17 2017-18P 2016-17 2017-18P 2016-17 July August September October November December 4325.60 4701.20 4157.60 5342.20 5222.20 4692.10 2941.50 3796.60 3531.30 4124.70 4221.60 3994.10 4046.06 3994.94 3785.62 4368.49 4397.00 4068.44 2804.36 4353.95 4451.61 3530.65 3882.78 3565.47 4709.68 5422.31 4571.17 4681.94 16365.97 4483.35 3097.80 4203.02 3471.54 4119.23 3801.95 4329.31 January 5255.00 4301.70 4986.34 3962.34 5432.58 4441.16 February July-February 5019.10 38715.00 (+26.22) 3760.90 30672.40 (+10.16) 4195.08 33841.96 (+13.39) 3294.44 29845.60 (+11.13) 4536.93 50203.93 (+60.71) 3775.34 31239.35 (+13.28) Source: National Board of Revenue (NBR), Foreign Exchange Operations Department of Bangladesh Bank , NA=Not Available. Note:- Figures in brackets indicate percentage changes over the corresponding period of the preceding year. P = Provisional, R= Revised. Custom based import during July-February, 2017-18 stood higher by USD 8.04 billion or 26.22 percent and stood at USD 38.72 billion against USD 30.67 billion during July-February, 2016-17. 2. Custom based import growth-cumulative 56.00 2016-17 49.00 2017-18 42.00 Percent 35.00 Settlement of import LCs during July-February, 2017-18 increased by 13.39 percent and stood at USD 33.84 billion against USD 29.85 billion during July-February, 2016-17. 28.00 21.00 14.00 7.00 15 Feb. Jan. Dec. Nov. Oct. Sep. Aug. 0.00 Jul. Fresh opening of import LCs during July-February, 2017-18 increased by 60.71 percent and stood at USD 50.20 billion compared to USD 31.24 billion during July-February, 2016-17.
  18. b ) Sector-wise fresh opening, settlement and outstanding of import LCs Sector-wise comparative statistics of fresh opening, settlement and outstanding of import LCs during July-February, 2017-18 and July-February, 2016-17 are shown below: (US$ in million) P July-February, 2017-18 Percentage changes during July-February, 2017July-February, 2016-17 18 over July-February, 2016-17 Outstanding Outstanding LCs Fresh Settlement of LCs at the Fresh opening Settlement of at the end period opening of LCs of LCs LCs end period LCs Fresh opening of LCs Settlement of LCs Outstanding LCs at the end period A. Consumer goods 6065.32 5299.75 2627.90 3949.66 3344.30 2002.95 53.57 58.47 B. Intermediate goods 3015.94 2654.89 1858.22 2697.85 2520.68 1727.30 11.79 5.32 7.58 C. Industrial raw materials 12936.50 11804.95 7214.31 11281.73 10773.80 5920.34 14.67 9.57 21.86 D. Capital machinery 4423.69 3503.17 6846.13 3393.36 3507.74 5604.63 30.36 -0.13 22.15 E. Machinery for misc. inds. 4177.18 3377.88 2596.88 3224.95 3086.19 1809.33 29.53 9.45 43.53 F. Petroleum & petro.prodts. 2225.39 1930.11 689.85 1759.90 1592.89 672.87 26.45 21.17 2.52 G. Others 17359.93 5271.21 15295.40 4931.89 5019.99 3309.95 251.99 5.00 362.10 Total 50203.93 33841.96 37128.68 31239.35 29845.60 21047.36 60.71 13.39 76.41 of which back to back 5687.05 5085.54 3082.40 5121.42 Source: Foreign Exchange Operations Department, Bangladesh Bank. P=Provisional. 4760.88 2439.65 11.04 6.82 26.35 Sectors / Commodities 31.20 The developments of sectoral share in total LCs opening during July-February, 2017-18 and July-February, 2016-17 are shown in the following pie diagrams. Sectoral sharing in LC Opening (July-February, 2017-18) Consumer goods, 12.08% Others , 34.58% Sectoral sharing in LC Opening (July-February, 2016-17) Others , 15.79% Intermediate goods, 6.01% Consumer goods, 12.64% Intermediate Petroleum & petro.products 5.63% goods, 8.64% Machinery for misc. industry, 10.32% Petroleum & petro.products 4.43% Machinery for misc. industry, 8.32% Capital machinery, 8.81% Industrial raw materials, 25.77% Industrial raw materials, 36.11% Capital machinery, 10.86% Sector-wise detailed statistics of fresh opening, settlement and outstanding July-February, 2017-18 and July-February, 2016-17 are given in the appendix. of import LCs during C) Projected data on opening of import LCs and probable liabilities against back to back LCs of authorised dealer banks (In million USD) Month Opening of import LCs Probable liabilities of banks against back to back LCs April, 2018 4811.88 997.65 May, 2018 4919.40 1027.06 June, 2018 5033.98 953.13 April-June, 2018 14765.25 2977.84 Source: All authorized dealer banks, compiled by Monetary Policy Department (MPD), Bangladesh Bank. Data on projection of opening of import LCs and probable liabilities against back to back LCs are USD 14.77 billion and USD 2.98 billion respectively during April-June, 2018. The mentioned liability is around 9 percent of foreign exchange reserves as on April 24, 2018. 16
  19. 12 . Workers’ remittances Annual and monthly trends of remittances (USD in million) Cummulative growth of workers' remittance inflow 2014-15 2015-16 2016-17R 15316.91 (+7.65) 14931.15 (-2.52) 12769.45 (-14.48) 2017-18 P 2016-17 R July 1115.57 1005.51 August 1418.58 1183.61 September 856.87 1056.64 -25.0 October 1162.77 1010.99 -35.0 November 1214.75 951.37 December 1163.82 958.73 January 1379.79 1009.47 February 1149.00 1300.46 940.75 1077.52 10761.61 9194.59 (+17.04) (-16.86) Annual Remittances 25.0 2016-17 2017-18 15.0 July-March Source : Statistics Department, Bangladesh Bank. Note:- Figures in brackets indicate percentage changes over the same period of the previous year P=Provisional; R = Revised. -5.0 Mar. Feb. Jan. Dec. Nov. Oct. Aug. Sep. -15.0 Jul. Monthly Remittances March Percentage 5.0 Month Receipt of workers’ remittances in March 2018 increased by 13.18 percent and stood at USD 1.30 billion against that of February 2018. It was also higher by 20.69 percent against USD 1.08 billion of March 2017. Total receipts of workers’ remittances increased by USD 1.57 billion or 17.04 percent during July-March, 2017-18 as compared to that of July-March, 2016-17. 13. Foreign exchange holdings by Bangladesh Bank and Commercial Banks (a) Gross foreign exchange reserves of Bangladesh Bank(BB): The gross foreign exchange reserves of BB stood at USD 32.40 billion (with ACU liability of USD 0.67 billion) as of end March 2018, as compared to USD 33.37 billion (with ACU liability of USD 1.56 billion) as of end February, 2018. The foreign exchange reserves (less ACU liability) is equivalent to import liability of 6.92 months; according to the average of the previous 12 months (March, 2017- February, 2018) import liability is of USD 4.59 billion per month on an average basis. (b) Gross foreign exchange balances held by Commercial Banks(CBs): The gross foreign exchange balances held by commercial banks stood at USD 3.21 billion as of end March 2018 which was higher than USD 3.13 billion of end February 2018. It was also higher than the balance of USD 3.06 billion at the end of March 2017. (US$ in million) 2016-17R 30039.29 31165.06 31385.87 31895.31 31370.88 32092.19 31724.17 32556.66 32215.19 Source : Accounts & Budgeting Departm ent, Bangladesh Bank. 17 7.3 7.0 6.7 FX reserve held by CBs in billion USD Mar… 2017-18P 32993.98 33596.25 32816.59 33452.29 32623.86 33226.86 32694.69 33368.99 32403.15 Month / Year July August September October November December January February M arch 3.25 3.10 2.95 2.80 2.65 2.50 2.35 2.20 7.6 Feb.18 27493.31 27139.14 28058.56 28265.93 29106.26 28802.90 30168.23 7.9 Dec… 32092.19 31724.17 32556.66 32215.19 32518.77 32245.69 33492.95 8.8 8.2 Jan.18 December January February M arch April B. Outstanding stock at the end of M ay the month June 9.1 8.5 Nov… 25469.08 26175.34 26379.04 27058.39 26407.63 Oct.17 30039.29 31165.06 31385.87 31895.31 31370.88 Sep.17 July August September October November Aug… 2015-16 Jul.17 2016-17R Gross FX reserves in billion USD (LHS) Reserve covers months of import (RHS) Jun.17 Month / Year FX reserves held by BB 37.0 35.0 33.0 31.0 29.0 27.0 25.0 23.0 21.0 19.0 17.0 Ma… 2015-16 30168.23 (+20.55) Apr… 2014-15 25025.25 (+16.35) Mar… 2013-14 21507.99 (+40.44) A. O utstanding stock at the e nd of the ye ar
  20. 14 . Foreign aid Month (US$ in million) Net Food Project Total Payment Net Food Project Total Payment Aid Aid Aid (Principal) Foreign Aid Aid Aid (Principal) Aid Aid FY2016-17 R Month Foreign FY2015-16 July 0.00 142.27 142.27 89.60 52.67 0.00 120.15 120.15 96.50 23.65 August 0.00 158.64 158.64 45.18 113.46 0.00 132.02 132.02 97.50 34.52 September 8.44 211.84 220.28 85.41 134.87 6.46 223.76 230.22 44.03 186.19 October 0.00 251.48 251.48 79.00 172.48 0.00 258.48 258.48 69.19 189.29 November 0.00 174.22 174.22 71.88 102.34 0.00 192.17 192.17 75.79 116.38 December 5.22 442.98 448.20 75.95 372.26 6.15 599.50 605.65 69.90 535.75 January 0.00 144.05 144.05 81.57 62.48 0.00 216.23 216.23 82.12 134.11 February 0.00 431.83 431.83 42.86 388.97 0.00 242.96 242.96 40.50 202.46 March 6.20 344.93 351.13 111.94 239.19 12.56 556.94 569.50 77.26 492.24 April 0.00 145.79 145.79 80.74 65.05 0.00 120.71 120.71 80.59 40.12 May 0.00 315.41 315.41 67.92 247.49 0.00 248.82 248.82 69.30 179.52 June 0.00 748.16 748.16 62.50 685.66 6.74 506.32 513.06 64.53 448.53 19.86 3511.60 3531.46 894.55 2636.91 31.91 3418.06 3449.97 867.20 2582.77 (-37.76) (+2.74) (+2.36) (+3.15) (+2.10) (-14.95) (+11.53) (+11.21) (-4.17) (+17.54) July-June Month FY2017-18 P FY2016-17 R July August September October November 0.00 366.95 366.95 109.56 257.39 0.00 142.27 142.27 89.60 52.67 4.12 123.65 127.77 44.77 83.00 0.00 158.64 158.64 45.18 113.46 3.08 5.12 388.79 573.69 391.87 578.81 124.51 86.78 267.36 492.03 8.44 0.00 211.84 251.48 220.28 251.48 85.41 79.00 134.87 172.48 8.29 254.73 263.02 71.88 191.14 0.00 174.22 174.22 71.88 102.34 December January February July-February 5.85 883.55 889.40 94.16 795.24 5.22 442.98 448.20 75.95 372.26 0.00 477.15 477.15 108.84 368.31 0.00 144.05 144.05 81.57 62.48 0.00 328.88 328.88 47.56 281.32 0.00 431.83 431.83 42.86 388.97 26.46 3397.37 3423.83 688.06 2735.77 13.66 1957.31 1970.97 571.45 1399.52 (+93.70) (+73.57) (+73.71) (+20.41) (+95.48) (+8.33) (-1.41) (-1.35) (-0.71) (-1.61) Source : Bangladesh Bank & Ministry of Finance, P=Provisional; R = Revised Foreign Aid Total foreign aid disbursements during July-February, 2017-18 3600 increased significantly by USD 1.45 billion or 73.71 percent 2735.77 2600 Million USD After principle repayment of USD 0.69 billion, the net receipts of Total Aid 3100 compared to July-February, 2016-17 and stood at USD 3.42 billion. 3423.83 1970.97 2100 1600 1399.52 foreign aid stood at USD 2.74 billion during July-February, 1100 2017-18 as compared to USD 1.40 billion of the same period of 600 the previous year. 100 July-February, 2017-18 18 July-February, 2016-17 Net Aid
  21. 15 . Exchange rate movements: Month FY 2015-16 (Taka/USD) FY 2016-17 (Taka/USD) FY 2015-16 (Rupee/USD) FY 2016-17 (Rupee/USD) Month Avg.1/ Month End2/ Month Avg.1/ Month End2/ Month End3/ Month End3/ July 77.8007 77.8000 78.4000 78.4000 64.0061 67.0340 August 77.8000 77.8000 78.4000 78.4000 66.3062 66.9813 September 77.8008 77.8000 78.4000 78.4000 65.7418 66.7875 October 77.8215 77.9978 78.4010 78.4161 65.1515 66.8566 November 78.5274 78.9364 78.5417 78.7233 66.8148 68.5260 December 78.7794 78.5000 78.8030 78.7004 66.3260 68.1241 January 78.5008 78.5000 78.8573 79.0741 67.8763 67.8125 February 78.5517 78.4500 79.2353 79.3700 68.6160 66.7375 March 78.4130 78.4000 79.5398 79.6797 66.3329 64.9325 April 78.4000 78.4000 79.8376 80.2300 66.5176 64.2170 May 78.4000 78.4000 80.4896 80.5609 67.2030 64.5459 June 78.4000 78.4000 80.5850 80.5995 67.6166 64.7379 FY 2016-17 (Rupee/USD) FY 2017-18 (Rupee/USD) Month FY 2016-17 (Taka/USD) Month Avg. 1/ Month End FY 2017-18 (Taka/USD) 2/ Month Avg. 1/ Month End 2/ Month End 3/ Month End July 78.4000 78.4000 80.6262 80.6598 67.0340 64.0773 August 78.4000 78.4000 80.6937 80.7000 66.9813 64.0154 September 78.4000 78.4000 80.7354 80.8000 66.7875 65.7604 October 78.4010 78.4161 80.8202 80.8810 66.8566 64.7745 November 78.5417 78.7233 81.2550 82.3000 68.5260 64.4332 December 78.8030 78.7004 82.5520 82.7000 68.1241 63.9273 January 78.8573 79.0741 82.8150 82.9000 67.8125 63.6878 February 79.2353 79.3700 82.9196 82.9600 66.7375 65.1031 March 79.5398 79.6797 82.9600 82.9600 64.9325 Source : 1/ Statistics Department and 3/ Forex Reserve and Treasury Management Department, Bangladesh Bank & Exchange Dealer's Association (BAFEDA). 3/ 66.1031 2/ Bangladesh Foreign Note:- Exchange rate represents the mid-value of buying and selling rates. Bangladesh Taka has depreciated by 2.85 percent against the US dollar at the end of March, 2018 from its level of end June 2017. Indian Rupee (INR) also depreciated by 2.07 percent against US dollar as of end March, 2018 compared to its level of end June 2017. Graphical presenatation of exchange rate of Bangladesh Taka (BDT) and Indian Rupee (INR) against the US Dollar (USD) and BDT against the INR are shown below: 84.10 BDT/ USD 83.50 BDT against USD 82.90 82.30 81.70 81.10 80.50 79.90 66.00 INR against USD INR /USD 65.40 64.80 64.20 63.60 63.00 1.32 BDT against INR 1.28 1.26 1.24 1.22 29-06-17 06-07-17 13-07-17 20-07-17 27-07-17 03-08-17 10-08-17 21-08-17 28-08-17 05-09-17 12-09-17 19-09-17 25-09-17 03-10-17 10-10-17 16-10-17 23-10-17 30-10-17 06-11-17 14-11-17 22-11-17 30-11-17 11-12-17 19-12-17 25-12-17 30-12-17 05-01-18 11-01-18 17-01-18 23-01-18 29-01-18 03-02-18 09-02-18 15-02-18 21-02-18 27-02-18 05-03-18 10-03-18 16-03-18 22-03-18 28-03-18 31-03-18 06-04-18 12-04-18 18-04-18 24-04-18 TK. /INR 1.30 19
  22. 16 . Balance of payments (BOP) (US$ in million) Particulars July-February, 2017-18 Trade balance Exports f.o.b(including EPZ) P July-February, 2016-17 -11732 -6089 24088 22291 Imports f.o.b(including EPZ) Services Credit Debit Primary income Credit Debit Of which:Official interest payment Secondary income Official transfers Private transfers of which : Workers' remittances ( current a/c. portion) 35820 28380 -2956 2802 -2117 2398 67 44 1390 343 9693 39 9654 9250 1282 257 8481 28 8453 8000 Current account balance -6318 -963 165 196 165 196 5737 2965 1263 1253 319 211 4155 243 117 1469 3220 1728 Capital account Capital transfers Financial account i) Foreign direct investment(net)* ii) Portfolio investment (net) of which : Workers' remittances ( financial a/c. portion) iii) Other investment(net) Medium and long-term (MLT) loans MLT amortization payments Other long-term loans (net) Other short-term loans (net) Trade credit (net) DMBs & NBDCs(net) Assets Liabilities 5758 4515 -1323 -1238 733 572 -20 1131 -1150 -103 787 -816 1707 -676 1031 445 -624 -179 Errors and omissions -562 251 Overall balance -978 2449 978 -2449 Reserve assets Bangladesh Bank(net) Assets Liabilities 978 -2449 -450 2560 528 111 R Source : Statistics Department, Bangladesh Bank. Note:- Both of exports and imports are compiled on the basis of customs data. P=Provisional; R = Revised. * FDI is calculated as net, deducting disinvestment, repayments of loans & loss. Trade balance recorded a deficit of USD 11.73 billion during July-February, 2017-18 as compared to the deficit of USD 6.09 billion during July-February, 2016-17. Despite financial account surplus of USD 5.74 billion, overall balance incurred a deficit of USD 0.98 billion due to the large deficit in current account balance during JulyFebruary, 2017-18. The deficit in current account was mainly due to high import payables along with the shortfall in the primary income and income from services. 20
  23. 17 . Public finance a) Government tax revenue collections (Taka in crore) Annual tax revenue collections 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016 NBR Tax Revenue 79403.11 (75600.00) 3229.36 (3452.00) 82632.47 (79052.00) 95058.99 (92370.00) 3631.58 (3915.00) 98690.57 (96285.00) 103332.00 (112259.00) 4120.00 (4565.00) 107452.00 (116824.00) 120819.86 (125000.00) 4612.64 (5178.00) 125432.50 (130178.00) 135700.70 (135028.00) 4821.57 (5648.00) 140522.27 (140676.00) 155518.72 (150000.00) 5642.46 (5400.00) 161161.18 (155400.00) Non-NBR Tax Revenue1/ Total Tax Revenue Note:- Figures in brackets indicate the target of revenue collection. (Taka in crore) NBR Tax Revenue Income VAT others* Tax Customs duties 1 2 3 Non-NBR Tax Total 4 Revenue 5=(1+..+4) 1/ 6 Total Tax Revenue Collections 7=(5+6) NBR Tax Revenue Income VAT others* Tax Customs duties 1 2 3 4 2016-17 P Total Non-NBR Tax Revenue 5=(1+..+4) 6 1/ Total Tax Revenue Collections 7=(5+6) 2015-16 R July 1242.47 3862.23 2683.49 1805.95 9594.14 417.46 10011.60 1122.01 3528.60 2459.71 1617.74 8728.06 376.09 9104.15 August 1737.32 5074.41 2861.17 2754.57 12427.47 523.38 12950.85 1261.38 3780.11 2634.03 1952.19 9627.71 610.69 10238.40 September 1443.81 4999.08 5146.28 2824.75 14413.92 373.37 14787.29 1382.36 4835.24 4432.91 2109.32 12759.83 408.38 13168.21 October 1567.22 5264.70 3652.38 2896.85 13381.15 481.58 13862.73 1309.26 4394.23 3307.76 2223.82 11235.07 406.43 11641.50 November 1779.09 5509.87 3929.55 2827.47 14045.98 471.80 14517.78 1569.71 4985.84 3138.55 2820.29 12514.39 462.98 12977.37 December 1921.88 5628.52 5939.36 2844.95 16334.71 464.60 16799.31 1593.82 4488.25 4610.99 2531.17 13224.23 486.57 13710.80 January 2085.41 5914.39 4275.72 3316.88 15592.40 525.52 16117.92 1490.70 4328.79 3447.14 2618.11 11884.74 424.56 12309.30 February 1711.09 5251.14 3744.71 2770.20 13477.14 435.77 13912.91 1483.99 4174.79 3247.01 2485.55 11391.34 425.24 11816.58 March 1869.65 5946.53 6258.52 3252.96 17327.66 622.68 17950.34 1660.76 4680.54 5217.03 2514.77 14073.10 465.53 14538.63 April 1901.29 5901.29 5153.29 3207.40 16163.27 634.18 16797.45 1447.16 4516.18 5348.65 2593.77 13905.76 478.24 14384.00 May 1992.71 6007.60 4611.41 3325.01 15936.73 573.96 16510.69 1833.02 5715.28 4093.18 2711.74 14353.22 518.83 14872.05 June 1890.97 6843.35 14473.36 3101.44 26309.12 758.08 27067.20 1862.41 6018.83 11298.49 2641.54 21821.27 578.92 22400.19 July-June 21142.91 66203.11 34928.43 185003.69 6282.39 191286.08 18016.58 55446.68 53235.45 28820.01 155518.72 5642.46 161161.18 (+18.96) (+11.34) (+18.69) (+14.60) (+17.03) (+14.69) 62729.24 2017-18 P 2016-17 July 1908.89 5119.56 2968.41 2186.30 12183.16 1305.28 13488.44 1242.47 3862.23 2683.49 1805.95 9594.14 417.46 10011.60 August 2071.38 5974.88 3832.67 3087.19 14966.12 529.87 15495.99 1737.32 5074.41 2861.17 2754.57 12427.47 523.38 12950.85 September 1649.40 5459.73 5890.10 3576.21 16575.44 387.75 16963.19 1443.81 4999.08 5146.28 2824.75 14413.92 373.37 14787.29 October 1959.98 6054.29 3991.38 3172.04 15177.69 564.63 15742.32 1567.22 5264.70 3652.38 2896.85 13381.15 481.58 13862.73 November 2240.69 6497.38 4497.23 3157.69 16392.99 528.94 16921.93 1779.09 5509.87 3929.55 2827.47 14045.98 471.80 14517.78 December 2076.26 6210.68 6307.16 3563.43 18157.53 468.18 18625.71 1921.88 5628.52 5939.36 2844.95 16334.71 464.60 16799.31 January 2202.48 6578.49 4628.97 3616.38 17026.32 591.36 17617.68 2085.41 5914.39 4275.72 3316.88 15592.40 525.52 16117.92 February 1868.15 6238.58 4293.95 3477.53 15878.21 493.46 16371.67 1711.09 5251.14 3744.71 2770.20 13477.14 435.77 13912.91 131226.92 13488.29 41504.34 32232.66 22041.62 109266.91 3693.4896 112960.40 (+19.59) (+2.57) (+18.95) July-February 15977.23 48133.59 36409.87 25836.77 126357.46 4869.4613 (+15.64) (+31.84) (+16.17) Source: National Board of Revenue and Office of the Controller General of Accounts. P=Provisional, R=Revised; *=include supplementary duties & travel tax. --- = Not Available. Note:- Figures in brackets indicate percentage changes over the corresponding period of the preceding year. Non-NBR tax revenue includes narcotics & liquor duty, taxes on vehicles, land revenue and stamp duty(non judicial). Total tax revenue collection (NBR & non-NBR) during July-February, 2017-18 stood at TK 131226.92 crore which was higher by Taka 18266.52 crore or 16.17 percent against the collection of Taka 112960.40 crore during July-February, 2016-17. NBR tax revenue collection during July-February, 2017-18 stood at TK 126357.46 crore which was higher by Taka 17090.55 crore or 15.64 percent against the collection of Taka 109266.91 crore during July-February, 2016-17. Target for NBR tax revenue collection is Taka 2,48,190.00 crore for FY18 Cummulative growth of NBR tax revenue Cummulative growth of total tax revenue 250.00 NBR Non-NBR 28.00 Total 28.00 2016-17 Percentage 200.00 150.00 100.00 2017-18 24.00 24.00 20.00 20.00 16.00 16.00 12.00 12.00 8.00 8.00 50.00 21 Feb. Jan. Dec. Nov. Oct. Sep. Aug. Jul. Feb. 18 Jan. 18 Dec. 17 Nov. 17 Oct. 17 Sep. 17 Aug. 17 0.00 Jul. 17 Percentage 1/
  24. b ) Sale and repayment of National Savings Certificates (NSC) (Taka in crore) FY Sale Repayment (Principal) Outstanding at (1) (2) (3) 4=(2-3) (5) 2011-12 18955.35 18476.33 479.02 63917.34 2012-13 23326.77 22553.93 772.84 64690.18 2013-14 24309.59 12602.29 11707.30 76397.48 2014-15 42659.79 13927.13 28732.66 105130.14 2015-16 53712.45 20023.85 33688.60 138818.74 Net sale the end of the year (Taka in crore) Months Sale Repayment (Principal) Net sale Outstanding at the end period Repayment (Principal) Sale 2016-17 Outstanding at the end period Net sale 2015-16 July 4932.05 1433.68 3498.37 142317.11 3236.40 1260.12 1976.28 107106.42 August 6327.61 2030.40 4297.21 146614.32 4524.42 1873.51 2650.91 109757.33 September 5390.50 1535.99 3854.50 150468.82 3436.03 1382.23 2053.80 111811.13 October 6104.91 1838.31 4266.61 154735.43 4061.46 1708.75 2352.71 114163.84 November 6106.62 1703.76 4402.85 159138.28 4031.68 1739.52 2292.16 116456.00 December 4881.59 1727.57 3154.02 162292.30 3734.30 1754.57 1979.73 118435.73 January 7357.29 1936.70 5420.59 167712.89 5069.06 1771.68 3297.38 121733.11 February 6030.93 1642.51 4388.42 172101.31 4973.90 1686.33 3287.57 125020.69 March 6556.47 2190.62 4365.85 176467.16 5121.42 1823.71 3297.71 128318.40 April 6831.48 2380.22 4451.26 180918.42 4919.52 1620.06 3299.46 131617.86 May 7118.05 2248.70 4869.35 185787.78 5294.97 1689.91 3605.06 135222.91 June 7497.24 2048.80 5448.44 191236.22 5309.29 1713.47 3595.83 138818.74 75134.74 (+39.88) 22717.26 (+13.45) 52417.48 (+55.59) 191236.22 (+37.76) 53712.45 (+25.91) 20023.85 (+43.78) 33688.60 (+17.25) 138818.74 (+32.04) July-June 2017-18 2016-17 July 7352.11 2298.57 5053.54 196289.76 4932.05 1433.68 3498.37 142317.11 August 6464.94 2489.90 3975.04 200264.79 6327.61 2030.40 4297.21 146614.32 September 5767.80 2102.05 3665.75 203930.54 5390.50 1535.99 3854.50 150468.82 October 7378.03 2757.70 4620.33 208550.87 6104.91 1838.31 4266.61 154735.43 November December 6700.36 5505.52 2842.94 2854.06 3857.42 2651.46 212408.29 215059.76 6106.62 4881.59 1703.76 1727.57 4402.85 3154.02 159138.28 162292.30 January 8060.49 2920.76 5139.73 220199.49 7357.29 1936.70 5420.59 167712.89 February 6602.40 2445.89 4156.51 224355.99 6030.93 1642.51 4388.42 172101.31 53831.65 20711.87 33119.77 224355.99 47131.50 13848.93 33282.57 172101.31 (+49.56) (-0.49) (+30.36) (+42.53) (+5.10) Target for net sale of NSC is Taka 30,150.00 crore for FY 2017-18. (+67.33) (+37.66) July-February (+14.22) Source:- Department of National Savings Note:- Figures in brackets indicate percentage changes over the corresponding period of the preceding year. The sale of National Savings Certificates (NSC) during Cumulative growth of net sale of NSC 92 92 was 14.22 percent higher than the amount of sale during 76 76 July- February, 2016-17. The net borrowing of the 60 60 44 44 28 28 12 12 -4 -4 22 Feb Jan 2016-17 Dec Jul Taka 224355.99 crore. Nov government through NSC as of end February, 2018 stood at Oct July-February, 2016-17. The outstanding borrowing of the Sep was Taka 33119.77 crore against Taka 33282.57 crore of 2017-18 Aug government through NSC during July-February, 2017-18 Percent July-February, 2017-18 stood at Taka 53831.65 crore which
  25. c ) Budget financing (Taka in crore) Net borrowing of Net non-bank the Govt. from borrowing of Total domestic the banking the Govt. from financing system 1/ the public 2/ Year 1 Total financing Net foreign Total financing financing 3/ 2 3 2009-2010 -4376.00 12256.14 7880.14 10218.86 6=(4+5) 7 8 9 2.27 116823.84 14.65 2010-2011 19175.90 3012.93 22188.83 2011-2012 18784.20 2241.10 21025.30 7470.44 29659.27 3.24 R 139012.67 15.18 9714.35 30739.65 2.91 160037.97 15.17 2012-2013 17873.00 7724.86 2013-2014 6627.80 15351.72 25597.86 15080.19 40678.05 3.39 185635.83 15.48 21979.52 14224.04 36203.56 2.69 207615.35 2014-2015 -7370.70 15.45 34723.57 27352.87 17067.58 44420.45 2.93 234968.22 2015-2016 15.50 4326.60 34166.55 38493.15 20213.70 58706.85 3.39 273461.37 15.78 2016-2017P -17464.80 53685.30 36220.50 20863.05 57083.55 2.89 309681.87 15.67 July-February, 2016-17 -20975.90 34016.81 13040.91 11003.53 24044.45 1.22 286502.28 14.50 -20825.10 34184.21 13359.11 22306.53 35665.64 1.60 323040.98 14.53 P 5 market priceR 18099.00 July-February, 2017-18 4=(2+3) as % of GDP@ at current market price Outstanding domestic debt Outstanding Domestic debt as % of GDP@ (end period) at current Source: Bangladesh Bank & Bangladesh Bureau of Statistics. P=Provisional ; R=Revised, 1/: Excludes interest. 2/: Includes treasury bills & bonds held by the non-bank financial institutions through secondary auctions, T.bills & bonds have been taken at face value. 3/: Total foreign aid disbursement less amortization payment, @: nominal GDP (base 2005-06=100) has been used. Government’s budget financing from domestic sources stood higher at Taka 133.59 billion during July-February, 2017-18 as compared to that of Taka 130.41 billion of July-February, 2016-17. Net foreign financing stood significantly higher at Taka 223.07 billion in the period under review. The total budget financing of the government during July-February, 2017-18 also stood significantly higher at Taka 356.66 billion against Taka 240.44 billion during July-February, 2016-17. Govt.’s net borrowing from the banking system stood negative at Taka 208.25 billion as government’s repayment exceeded borrowing during July-February, 2017-18. Govt.’s borrowing from the non-banking sources stood higher at Taka 341.84 billion during July-February, 2017-18 as compared to that of July-February, 2016-17. The total budget financing during July-February, 2017-18 stood at 1.60 percent of projected GDP against 4.80 percent as envisaged in the national budget for FY18. 18. Food situations Year Production Target Actual Domestic Production (Gross) Net Domestic Food grain Imports Govt. & food aid Private Production* 310.62 313.38 22.04 10.50 35.00 360.65 345.13 FY2011-12 FY2012-13 357.25 354.66 348.20 350.88 315.79 4.72 12.40 14.18 FY2013-14 358.81 356.56 320.90 8.56 21.37 FY2014-15 360.50 360.58 324.52 3.34 49.40 FY2015-16 364.24 360.03 324.03 3.34 FY2016-17 365.91 351.16 316.04 ---- RT 372.97 ---- Particulars Public Domestic Distribution Procurement FY2010-11 FY2017-18 Total (In lakh metric ton) Foodgrain Public 57.04 22.90 (End June) 4.62 22.91 8.87 18.90 14.26 14.06 20.95 20.87 12.48 14.97 29.93 14.34 22.20 11.53 52.74 16.76 18.38 12.86 42.06 45.40 12.32 20.64 8.56 3.93 54.30 58.23 16.14 22.42 3.79 15.50 0.00 15.50 15.47 21.74 - July-March, 2017-18 P July-March, 2016-17 ** Stock Public 1. Production 2. Imports (Rice & Wheat) - 157.91 82.47 45.52 3. Procurement (Rice) 4. Distribution (Rice & Wheat) 5. Food Stock 9.78 12.43 14.10 14.56 15.55 7.67 Source : Bangladesh Food Situation Report, FPMU, Ministry of Food. Note : RT = Revised Target, P = Provisional, B = Boro. ---- = Data not avaiable. ** Only for Aus= and Aman *= After 10% deduction for seed, feed, waste etc. ** Data of only Aus production available upto Febuary Imports of rice and wheat were higher at 82.47 lakh metric tons during July-March, 2017-18 than 45.52 lakh metric tons during July-March, 2016-17. While, procurement of rice during July-March, 2017-18 was lower than that of July-March, 2016-17. Public food distribution of rice and wheat was also lower at 12.43 lakh metric tons during July-March, 2017-18 compared to 15.55 lakh metric tons during July-March, 2016-17. However, outstanding food stock was 83.83 percent higher at 14.10 lakh metric tons at the end of March, 2018 as compared to the end of March, 2017. 23
  26. APPENDIX Break-up of fresh opening , settlement and outstanding of import LCs (US$ in million ) July-February, 2017-18 Sectors / Commodities P July-February, 2016-17 Fresh Outstanding Fresh Outstanding Settlement Settlement opening of LCs at the opening of LCs at the of LCs of LCs LCs end period LCs end period Changes during July-February, 2017-18 over July-February, 2016-17 Fresh opening of LCs Outstanding Settlement LCs at the end of LCs period 6065.32 5299.75 2627.90 3949.66 3344.30 2002.95 53.57% 58.47% 31.20% Rice and wheat 2978.70 2206.95 1022.03 938.51 783.67 410.35 217.39% 181.62% 149.06% Sugar and salt 586.13 756.90 342.79 615.87 532.16 460.47 -4.83% 42.23% -25.56% Milk food 218.97 180.78 137.45 196.85 137.90 120.81 11.24% 31.09% 13.77% Edible oil (refined) 588.84 594.82 333.06 543.23 512.87 330.18 8.40% 15.98% 0.87% All kinds of fruits 274.62 207.20 115.95 226.33 172.86 60.24 21.33% 19.86% 92.50% Pulses 266.75 253.02 184.69 434.45 305.79 235.05 -38.60% -17.26% -21.42% Onion 265.70 243.92 30.08 130.70 128.04 29.02 103.29% 90.50% 3.64% Spices 104.96 100.98 31.43 112.81 104.92 23.50 -6.96% -3.76% 33.78% Second hand clothings 2.15 2.14 0.77 0.54 2.13 0.44 296.69% 0.29% 73.36% Drugs and medicines(finished) 55.75 49.92 25.10 57.47 49.11 21.79 -2.99% 1.64% 15.19% Others 722.75 703.13 2627.90 692.89 614.85 311.11 4.31% 14.36% 744.69% 3015.94 2654.89 1858.22 2697.85 2520.68 1727.30 11.79% 5.32% 7.58% Coal 267.56 226.38 71.33 217.69 169.38 91.67 22.91% 33.66% -22.19% Cement 12.65 9.90 15.03 9.20 11.28 8.27 37.54% -12.20% 81.76% Clinker & limestone 496.58 389.66 351.26 405.66 391.28 204.35 22.41% -0.42% 71.89% B. P. sheet 272.33 218.53 137.53 193.48 194.64 171.02 40.75% 12.27% -19.58% 8.09 13.51 5.19 8.18 6.71 5.13 -1.09% 101.53% 1.33% Scrap Vessels 568.52 495.49 362.82 482.68 509.00 376.70 17.79% -2.65% -3.68% Iron and steel scrap 509.78 474.56 357.10 494.77 446.88 345.66 3.03% 6.20% 3.31% Non-ferrous metal 137.05 127.39 112.60 154.54 148.88 94.35 -11.31% -14.44% 19.34% Paper and paper board 317.01 244.27 204.15 249.11 223.50 131.00 27.26% 9.29% 55.85% Others 426.36 455.19 1858.22 482.54 419.13 299.16 -11.64% 8.61% 521.14% 12936.50 11804.95 7214.31 5920.34 14.67% 9.57% 21.86% Edible oil (Crude) & oil seeds 827.01 686.83 531.16 670.56 628.87 535.70 23.33% 9.22% -0.85% Textile fabrics (B/B & others) 5086.03 4556.28 2666.69 4681.36 4329.66 2141.70 8.64% 5.23% 24.51% Pharmaceutical raw materials 446.57 410.98 179.69 412.29 369.73 147.24 8.31% 11.16% 22.05% Raw cotton 1825.86 1738.64 1105.83 1692.19 1600.87 1037.30 7.90% 8.61% 6.61% Cotton yarn 1077.90 930.88 655.17 833.92 777.34 484.99 29.26% 19.75% 35.09% 3.15 2.53 5.19 3.91 3.02 3.88 -19.51% -16.24% 33.66% Synthetic fibre & yarn 593.44 527.71 337.63 484.68 432.25 281.60 22.44% 22.08% 19.90% Chemicals & chem. products 3076.56 2951.10 7214.31 2502.82 2632.07 1287.93 22.92% 12.12% 460.15% A. Consumer goods B. Intermediate goods Tin plate C. Industrial raw materials Copra 11281.73 10773.80 (continued on page-25) 24
  27. APPENDIX Break-up of fresh opening , settlement and outstanding of import LCs (US$ in million ) July-February, 2017-18 Sectors / Commodities P July-February, 2016-17 Fresh Outstanding Fresh Outstanding Settlement Settlement opening of LCs at the opening of LCs at the of LCs of LCs LCs end period LCs end period Changes during July-February, 2017-18 over July-February, 2016-17 Fresh Outstanding Settlement of opening of LCs at the LCs LCs end period 4423.69 3503.17 6846.13 3393.36 3507.74 5604.63 30.36% -0.13% 22.15% Textile machinery 628.45 588.69 771.81 511.32 463.48 628.50 22.91% 27.02% 22.80% Leather / tannery 9.84 6.06 14.20 16.80 18.62 39.23 -41.44% -67.46% -63.80% Jute industry 10.51 13.10 8.58 2.50 12.76 4.23 319.47% 2.69% 102.83% Garment industry 544.40 491.41 781.94 552.38 461.77 673.91 -1.44% 6.42% 16.03% Pharmaceutical industry 99.12 75.67 99.05 113.53 76.49 92.60 -12.70% -1.07% 6.96% Packing industry 10.87 12.67 7.19 6.82 12.61 8.87 59.52% 0.44% -18.88% 3120.50 2315.58 5163.35 2190.01 2462.02 4157.29 42.49% -5.95% 24.20% 4177.18 3377.88 2596.88 3224.95 3086.19 1809.33 29.53% 9.45% 43.53% Other machineries 607.51 547.93 348.74 554.22 534.79 284.17 9.62% 2.46% 22.72% Marine diesel engine 13.48 14.91 45.90 8.27 13.64 44.15 62.93% 9.28% 3.98% Computer & its accessories 266.27 269.49 121.70 227.66 242.62 84.60 16.96% 11.07% 43.85% Motor vehicle & motorcycle parts 122.65 105.72 55.32 87.93 70.61 36.68 39.48% 49.71% 50.79% Bicycle parts 59.01 54.84 31.07 53.81 37.33 29.94 9.65% 46.90% 3.80% Other iron and steel products 319.19 309.07 183.59 321.69 319.89 191.35 -0.78% -3.38% -4.06% Motor vehicles 1020.03 755.37 539.80 718.73 623.52 275.47 41.92% 21.15% 95.96% Other electronics components 252.58 179.87 163.09 128.40 92.03 103.44 96.71% 95.45% 57.66% Tractors & power tiller 66.29 63.98 27.49 55.55 50.47 20.52 19.34% 26.77% 33.96% 1450.17 1076.70 1080.17 1068.68 1101.28 739.00 35.70% -2.23% 46.17% 2225.39 1930.11 689.85 1759.90 1592.89 672.87 26.45% 21.17% 2.52% Crude 467.34 276.10 226.86 289.49 183.34 212.07 61.44% 50.60% 6.97% Refined 1758.05 1654.02 462.99 1470.41 1409.55 460.80 19.56% 17.34% 0.47% G. Others 17359.93 5271.21 15295.40 4931.89 5019.99 3309.95 251.99% 5.00% 362.10% Commercial sector 13811.22 2074.45 13401.08 2198.39 2693.43 2002.45 528.24% -22.98% 569.23% Industrial sector 3548.70 3196.75 1894.32 2733.51 2326.57 1307.49 29.82% 37.40% 44.88% 21047.36 60.71% 13.39% 76.41% 2439.65 11.04% 6.82% 26.35% D. Capital machinery Other industry E. Machinery for misc. inds. Others F. Petroleum & petro.prodts. Total of which back to back 50203.93 33841.96 5687.05 5085.54 37128.68 3082.40 31239.35 29845.60 5121.42 Source: Foreign Exchange Operations Department(FEOD), Bangladesh Bank. 25 4760.88