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Bangladesh Bank: Major Economic Indicators - March 2018

IM Insights
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6 years ago
Bangladesh Bank: Major Economic Indicators - March 2018

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  1. Volume 03 /2018 March 2018 Major Economic Indicators: Monthly Update Monetary Policy Department BANGLADESH BANK
  2. Page No . Contents 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 while private sector credit grew significantly in February 2018. Broad money (M2) increased by 9.78 percent (y-o-y) in February 2018 which was lower than 13.35 percent of the same month of the previous year. Net foreign assets and net domestic assets registered 3.90 percent and 11.88 percent growth respectively in February 2018. Private sector credit recorded 18.49 percent growth in February 2018 which was significantly higher than 15.88 percent of the same month of the previous year. 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 banks narrowed in January 2018 and call money rate increased in March, 2018. The spread between the weighted average interest rates on advances and deposits of all banks narrowed in January 2018 from that of December 2017 and stood at 4.41 percent. The weighted average call money rate in the inter-bank money market increased to 4.40 percent in March, 2018 from 4.11 percent of February, 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, 2017-18 which was 6.33 percent higher than USD 25.82 billion during July-March, 2016-17, according to EPB data. Import growth notably increased during July-January, 2017-18. Custom based import during July-January, 2017-18 increased by 25.21 percent and stood at USD 33.70 billion which was USD 26.91 billion during July-January, 2016-17. Fresh opening of import LCs during July-January, 2017-18 increased by 66.28 percent as compared to the same period of the previous year and stood at USD 45.67 billion. The sectoral distribution of LCs opening shows that during July-January 2017-18, the share of total LCs opening of industrial raw materials is 24.98%, consumer goods 12.06%. Machinery for miscellaneous industry 8.38%, Capital machinery 8.44%, Intermediate goods 5.82%, Petroleum and petroleum products 4.24%. 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. Receipt 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 JulyJanuary, 2017-18. Current account balance recorded a deficit of USD 5.35 billion during July-January, 2017- Both total and net reciepts of foreign aid increased significantly during July-January, 2017-18. The total foreign aid disbursements during July-January, 2017-18 increased by USD 1.56 18 due mainly to a significant trade deficit and lower income from services and primary income accounts compared to that of July-January, 2016-17. billion or 101.08 percent and stood at USD 3.09 billion as compared to that of July-January, 2016-17. Net receipt of foreign aid also increased by USD 1.44 billion or 142.88 percent and stood at USD 2.45 billion during July-January, 2017-18 as compared to that of July-January, 2016-17. Forex reserves stood at 32.40 billion as on March 29, 2018 The gross foreign exchange reserves of BB stood at USD 33.37 billion (with ACU liability of USD 1.56 billion) as of end February 2018, as compared to USD 32.69 billion (with ACU liability of USD 0.85 billion) as of end January 2018. As per the latest available data, gross foreign exchange reserves stood at USD 32.40 billion (with ACU liability of USD 0.67 billion) as on March 29, 2018. 5. Developments in the fiscal sector NBR tax revenue collection continued to a strong growth during July-January, 2017-18. NBR Tax Revenue collection stood at Taka 110479.25 crore during July-January, 2017-18 which was 15.34 percent higher than Taka 95789.77 crore during July-January, 2016-17. 6. Credit disbursement and industrial production Agricultural credit, SME loan, and the general index of industrial production and industrial term loans have increased during the period under review. The disbursement of agricultural credit increased by 5.81 percent while the disbursement of non-farm rural credit decreased by 8.54 percent during July-January, 2017-18 as compared to July-January, 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 first quarter of FY18 increased by 20.86 percent and stood at Taka 15765.99 crore and recovery also increased by 24.88 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 February 2018 over June 2017 February 2018 over February 2017 February 2017 over June 2016 February 2017 over February 2016 4 5 6 7 8 9 266697.00 262356.90 33576.10 (+14.40) -4340.10 (-1.63) 9858.60 (+3.90) 19377.40 (+8.31) 37827.60 (+17.62) 683257.00 749379.00 789189.90 66122.00 (+9.68) 39810.90 (+5.31) 83801.70 (+11.88) 22131.20 (+3.24) 75023.00 (+11.90) a) Domestic credit 801280.00 890670.30 955853.00 89390.30 (+11.16) 65182.70 (+7.32) 118972.70 (+14.22) 35600.30 (+4.44) 89207.70 (+11.93) Public sector 130270.70 114613.80 93628.20 -15656.90 (-12.02) -20985.60 (-18.31) -15551.00 (-14.24) -21091.50 (-16.19) -10532.90 (-8.80) Government (net) 114219.60 97333.60 75069.40 -16886.00 (-14.78) -22264.20 (-22.87) -18456.20 (-19.73) -20694.00 (-18.12) -9166.60 (-8.93) Other Public 16051.10 17280.20 18558.80 1229.10 (+7.66) 1278.60 (+7.40) 2905.20 (+18.56) -397.50 (-2.48) -1366.30 (-8.03) Private sector 671009.30 776056.50 862224.80 105047.20 (+15.66) 86168.30 (+11.10) 134523.70 (+18.49) 56691.80 (+8.45) 99740.60 (+15.88) -118023.00 -141291.30 -166663.10 -23268.30 -25371.80 -35171.00 -13469.10 -14184.70 916377.90 1016076.00 1051546.80 99698.10 35470.80 93660.30 41508.60 112850.60 (+10.88) (+3.49) (+9.78) (+4.53) (+13.35) 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 February, 2018 P i) Currency outside banks 122074.50 137531.80 128338.10 15457.30 (+12.66) -9193.70 (-6.68) 15838.40 (+14.08) -9574.80 (-7.84) 18362.30 (+19.51) ii) Deposits 794303.40 878544.20 923208.70 84240.80 (+10.61) 44664.50 (+5.08) 77821.90 (+9.21) 51083.40 (+6.43) 94488.30 (+12.58) a) Demand deposits 90356.20 102546.60 98207.70 12190.40 (+13.49) -4338.90 (-4.23) 9996.10 (+11.33) -2144.60 (-2.37) 13351.80 (+17.84) b) Time deposits 703947.20 775997.60 825001.00 72050.40 (+10.24) 49003.40 (+6.31) 67825.80 (+8.96) 53228.00 (+7.56) 81136.50 (+12.00) 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 93660.30 crore or 9.78 percent at the end of February 2018 against the increase of Taka 112850.60 crore or 13.35 percent at the end of February 2017. Of the sources of broad money, net domestic assets (NDA) rose by Taka 83801.70 crore or 11.88 percent and net foreign assets (NFA) rose by Taka 9858.60 crore or 3.90 percent at the end of February 2018 as compared to the same month of the previous year. Domestic credit The domestic credit recorded an increase of Taka 118972.70 crore or 14.22 percent at the end of February 2018 against the increase of Taka 89207.70 crore or 11.93 percent at the end of February 2017. Credit to the private sector recorded a growth of 18.49 percent while credit to the public sector decreased by 14.24 percent in February 2018 as compared to the same month of the previous year. Trends of domestic credit growth (year-on-year) Trends of broad money growth (year-on-year) 16.0 16.0 2016-17 2016-17 2017-18 15.0 13.0 Percentage 14.0 13.35 12.0 11.0 9.78 14.0 14.22 13.0 12.0 11.93 11.0 10.0 Feb. Jan. Dec. Nov. Oct. Sep. Jul. Jan. Dec. Nov. Oct. Sep. Aug. Feb. 3 Aug. 10.0 9.0 Jul. Percentage 2017-18 15.0
  6. 2 . Reserve money developments (Taka in crore) Outstanding stock Changes in outstanding stock June 2017 over June 2016 February 2018 over June 2017 February 2018 over February 2017 February 2017 over June 2016 February 2017 over February 2016 4 5 6 7 8 9 252027.00 253570.90 33137.60 (+15.14) 1543.90 (+0.61) 13379.40 (+5.57) 21302.10 (+9.73) 37159.10 (+18.30) -25688.10 -27367.60 -43021.50 -1679.50 (-6.54) -15653.90 (-57.20) 5917.10 (+12.09) -23250.50 (-90.51) -7629.20 (-18.47) Claims on Govt.(net) 13373.70 12977.70 7078.40 -396.00 -5899.30 7548.70 -13844.00 -1571.20 Claims on other public 2015.50 2157.80 2211.10 142.30 (+7.06) 53.30 (+2.47) 339.80 (+18.16) -144.20 (-7.15) -210.10 (-10.09) Claims on DMBs 6024.40 5054.40 4992.40 -970.00 (-16.10) -455.80 -62.00 (-1.23) -9745.90 -105.10 (-2.06) -1866.30 -926.90 (-15.39) -8335.40 -859.00 (-14.42) -4988.90 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 February, 2018 P -47101.70 -47557.50 -57303.40 193201.30 224659.40 210549.40 31458.10 (+16.28) -14110.00 (-6.28) 19296.50 (+10.09) -1948.40 (-1.01) 29529.90 (+18.26) 132305.20 151265.20 141121.40 18960.00 (+14.33) -10143.80 (-6.71) 17613.60 (+14.26) -8797.40 (-6.65) 19743.00 (+19.03) i) Currency outside banks 122074.50 137531.80 128338.10 15457.30 (+12.66) -9193.70 (-6.68) 15838.40 (+14.08) -9574.80 (-7.84) 18362.30 (+19.51) ii) Cash in tills 10230.70 13733.40 12783.30 Deposits held with BB 60896.10 73394.20 69428.00 3502.70 (+34.24) 12498.10 (+20.52) -950.10 (-6.92) -3966.20 (-5.40) 1775.20 (+16.13) 1682.90 (+2.48) 777.40 (+7.60) 6849.00 (+11.25) 1380.70 (+14.34) 9786.90 (+16.89) 5986.55 11130.58 1449.06 5144.03 -9681.52 -5760.16 1222.67 2409.81 4.74 4.52 4.99 -0.22 0.47 -0.01 0.27 -0.22 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 : Reserve Money Reserve money recorded an increase of Taka 19296.50 crore Trends of reserve money growth (year-on-year) or 10.09 percent at the end of February 2018 against the 28.5 increase of Taka 29529.90 crore or 18.26 percent at the end of 26.5 2016-17 2017-18 24.5 February 2017. Of the sources of reserve money, net foreign 20.5 18.26 18.5 16.5 14.5 Taka 5917.10 crore or 12.09 percent at the end of February 12.5 2018 as compared to February 2017. 10.09 10.5 4 Feb. Jan. Dec. Nov. Oct. Jul. which was 4.52 at the end of June 2017. Sep. 8.5 Money multiplier stood at 4.99 at the end of February 2018 Aug. or 5.57 percent and net domestic assets of BB increased by Percentage assets of Bangladesh Bank increased by Taka 13379.40 crore 22.5
  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. 5 12 month average Point to point 6.1 6.0 5.8 5.7 5.5 Mar.18 Feb.18 Jan.18 Dec.17 Nov.17 Oct.17 Sep.17 Aug.17 Jul.17 Jun.17 May 17 5.2 Apr.17 5.4 Mar.17 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. CPI(Base:FY2005-06=100) Inflation 6.3 Percentage 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.
  8. 4 . Liquidity position of the scheduled banks (In crore Taka) As of end June, 2017 Bank Group 1 As of end January 2018 Total Liquid Assets Cash in tills + balances with Sonali Bank Ltd. 2 3 Balances with Bangladesh Bank CRR State-owned Banks Specialised Banks P 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 1972.13 17397.05 624.75 139.28 76637.00 96770.20 51800.24 1692.35 0.00 1759.84 0.00 15.25 0.00 1775.09 1759.84 Private Banks (Other than Islamic) 107163.15 7823.33 30035.52 854.52 2322.36 64345.84 105381.57 89514.02 Islamic Banks 29187.52 2333.61 12798.64 2880.82 283.16 8454.74 26750.98 23628.26 Foreign Banks 20122.14 630.14 2812.42 744.07 3770.57 14063.32 22020.53 8298.52 Total 267194.31 12759.21 64803.48 5104.16 6530.62 163500.91 252698.37 175000.88 (+5.05) (+25.64) (+2.02) (+2.58) (+64.70) Source : Department of Offsite Supervision, BB. 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. Comment: The data shown on the above table are based on the regulatiry purpose of Bangladesh Bank. Total liquid assets of the scheduled banks decreased by 5.43 percent and stood at Taka 252698.37 crore as of end January, 2018 which was Taka 267194.31 crore at the end of June, 2017. The minimum required liquid assets of the scheduled banks were Taka 175000.88 crore as of end January, 2018. Sectoral distribution of total liquid assets as of end January, 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 5.05 percent, 25.64 percent, 2.02 percent, 2.58 percent, and 64.70 percent respectively of total liquid assets. Liquid assets & minimum required liquidity Sectoral distribution of total liquid assets (as of end January 2018) Excess Reserve, 2.02% 3250 Liquid assets 2950 Minimum required liquid assets 2650 2350 Billion taka Foreign Currency Balances with BB , 2.58% Unencumbered approved securities, 64.70% 2050 1750 1450 1150 850 6 Jan.18 Dec.17 Nov.17 Oct.17 Sep.17 Aug.17 Jul.17 Jun.17 May.17 Apr.17 Mar.17 250 Cash in tills+balances with SBL, 5.05% Jan.17 CRR, 25.64% Feb.17 550
  9. 5 . Financial sector prices: a) Weighted average yields on bills and bonds1/: Treasury Bills BGTB BB Bill Repo* 91-Day 182-Day 364-Day 2-Year 5-Year 10-Year 15-Year 20-Year 30-Day Call Reverse Repo* Money Rate 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 --- --- --- --- --- --- --- --- 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 Source: MPD and DMD, BB . 1/ Weighted average rate. ---- = there was no auction. @ = upto April 01 st , 2018. * The Repo and Reverse Repo rates are re-fixed at 6.75% and 4.75% respectively, with effect from 14.01.2016. The weighted average yields on 91-Day, 182-Day and 364-Day treasury bills decreased from that of January, 2018 at 3.23 percent, 3.63 percent and 4.00 percent respectively in March 2018. The weighted average yields on 2-Year, 5-Year, 10-Year, 15-Year and 20-Year BGTB stood at 5.26 percent, 5.82 percent, 7.32 percent, 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. The weighted average call money rate in the inter-bank money market increased to 4.40 percent in March, 2018 as compared to 4.11 percent in February, 2018. Yield on Treasury Bills Repo, Reverse Repo & Call Money Rate 3.3 u 7 Mar.18 Jan.18 Feb.18 Dec.17 Nov.17 Oct.17 2.3 Sep.17 2.8 Aug.17 Feb.18 Mar.18 Jan.18 Dec.17 Oct.17 Nov.17 Sep.17 Aug.17 Jul.17 Jun.17 Apr.17 May17 3.8 3.8 Jul.17 4.5 364-Days 4.3 Jun.17 5.3 Apr.17 6.0 182-Days 4.8 May.17 6.8 3.0 91-Days Call Money Rate W.ave. yield in percent Reverse Repo* Mar.17 Repo* 7.5 Mar.17 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 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 January 2018 as compared to December 2017 and stood at 4.41 and that of NBFIs also narrowed and stood at 2.79 percent. Both weighted average interest rate on deposits of all banks and NBFIs increased to 5.01 percent and 8.63 percent respectively at the end of January 2018 as compared to that of December 2017. Sector-wise breakdown of interest rate spread Institution wise breakdown of interest rate spread 5.20 Banks 6.70 NBFIs SME Agriculture Large Industries Services Jan.18 Dec.17 Nov.17 Oct.17 Sep.17 Aug,17 Jul. 17 Jan. 17 8 Jun. 17 4.20 3.70 Jan.18 Dec.17 Nov.17 Oct.17 Sep.17 Aug,17 Jul. 17 Jun. 17 May 17 Mar. 17 Feb. 17 2.40 Apr. 17 2.80 4.70 May 17 3.20 5.20 Mar. 17 3.60 5.70 Feb. 17 4.00 Apr. 17 W. Ave. rate in percent 6.20 4.40 Jan. 17 W. Ave. rate in percent 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 DSE Broad Index (DSEX) and Debentures Market Capitalisation Turnover during the month 560 114693.00 366811.50 34232.02 5468.34 February'17 562 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 Source : Dhaka Stock Exchange The DSE Broad Index (DSEX) at the end of February 2018 stood lower at 5804.94 compared to that of end Trends in market capitalisation and indices of DSE 4400 6450 Capitalisation in billion taka (LHS) DSEX (RHS) 4100 6100 January 2018. The total market capitalization of all 3800 5750 shares and debentures of the listed securities at the 3500 5400 end of February 2018 also stood lower at Taka 5050 3200 4700 2900 4350 404438.90 crore from Taka 418513.30 crore at the 2600 end of January 2018. 2300 3650 2000 3300 9 Jan. 18 Feb. 18 Dec. 17 Oct.17 Nov. 17 Sep.17 Aug.17 July17 June17 May17 Apr.17 Mar.17 Feb.17 4000
  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 Disbursement Recovery R Disbursement Recovery July 1489.57 1500.40 945.31 868.12 July 84.50 113.21 110.69 August 1153.12 1159.76 933.15 1109.60 August 66.86 92.41 73.48 77.53 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 July-January 11663.14 (+5.81) 10885.44 (+10.59) 11022.65 (+19.85) 9843.48 (+13.40) July-January 1039.03 (-8.54) 990.79 (+1.98) 1136.06 (+28.78) 971.57 (+6.28) Programmed level for disbursement of agricultural credit and non-farm rural credit was Tk.20400.00 crore for FY18. Agricultural credit disbursement Non-farm rural credit disbursement 1200 900 600 Jul. Jan. Dec. Nov. Oct. Sep. Aug. Jul. 300 Jan. 1500 2017-18 Dec. 1800 In crore taka In crore taka 2100 2016-17 Nov. 2400 290 270 250 230 210 190 170 150 130 110 90 70 50 30 Oct. 2017-18 Sep. 2016-17 Aug. 2700 Disbursement of agricultural credit increased by 5.81 percent while that of non-farm rural credit decreased by 8.54 percent during July-January, 2017-18 compared to that of July-January, 2016-17. The banks disbursed a total of Taka 127.02 billion to both the sectors during July-January, 2017-18. The recovery of the agriculture credit and non-farm rural credit increased by 10.59 percent and 1.98 percent respectively during July-January, 2017-18 as compared to the same period of the previous year. (Taka in crore) 2017-18 End Month January P Overdue Outstanding 6765.21 (-0.30) 40368.16 (+10.94) 2016-17 Overdue as % of outstanding 16.76 Overdue Outstanding 6785.75 (+7.20) 36388.97 (+11.62) R Overdue as % of outstanding 18.65 Source: Agricultural Credit Department. The position of overdue agricultural credit as percentage of total outstanding credit improved, decreasing from 18.65 percent at the end of January 2017 to 16.76 percent at the end of January 2018. 10
  13. 8 . Industrial and SME loans a) Industrial term loans Yearly (Tk. 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 11380.69 (+29.96) 2473.49 (+3.35) 1659.56 (+30.44) 15513.74 (+24.88) FY2017-18 July-September End Period September, 2016 September, 2017 11786.87 (+18.71) 2434.86 (+23.14) 1544.26 (+35.64) 15765.99 (+20.86) Outstanding Overdue LSI MSI SSCI Total LSI MSI SSCI Total 13840.23 5779.51 1373.76 20993.50 113120.59 25908.88 8686.27 147715.75 19286.62 7667.14 1994.54 28948.30 131113.86 31423.01 13315.88 175852.75 Source: SME & Special Programmes Department. The disbursement of total industrial term loans during July-September, 2017 increased by 20.86 percent and stood at Taka 15765.99 crore as compared to Taka 13044.95 crore during JulySeptember, 2016. The recovery of industrial term loans also increased by 24.88 percent and stood at Taka 15513.74 crore during July-September, 2017 against Taka 12423.03 crore during the same period of the previous fiscal year. Outstanding amount of industrial term loans at the end of September, 2017 stood at Taka 175852.75 crore. At the same time the overdue of industrial term loans was 28948.30 crore. Note:- Figures in brackets indicate overdue as % of outstanding. LSI=Large Scale Industries, MSI=Medium Scale Industries, SSCI= Small Scale & Cottage Industries. b) Outstanding position of SME loans (Tk. in crore) The total SME loans by the banks and nonbank 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 stateowned 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. 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. Banks/NBFIs Types of Loans State Owned Banks Total Loans 123836.09 503052.70 25148.72 SME Loans 29774.05 132953.57 2413.27 (24.04) (26.43) (9.60) Quarter Ending December, 2016 Private Banks Foreign Specialised Banks Banks Non-Bank Fin. Ins. Total 21842.40 48853.18 722733.09 594.31 6903.80 172639.00 (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 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% The percentage share of SME loans from different categories of banking and financial institutions to total SME loan as of end December, 2017 is shown in the pie diagram. 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 Percentage change P Average Index July-November, July-November, 2017 2016R November'17 over November'16 July-November, 2017 over July-November, 2016 November'16 R November'17 P 347.61 380.42 190.46 271.05 324.11 330.81 359.53 25.39 13.38 22.05 10.93 Textile 14.07% 277.22 335.53 155.36 138.35 183.95 22.59 32.96 Food products Pharmaceuticals and medicinal chemical 10.84% 8.23% 328.04 366.54 540.99 552.83 369.57 369.05 502.47 533.85 64.92 50.82 35.96 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 100.00% 34.84% Source: Bangladesh Bureau of Statistics. *Others means residual items. P = Provisional, RP=Revised Provisional, R=Revised. The general index of industrial production (medium & large scale manufacturing) stood at 330.81 during July-November, 2017 and recorded an increase of 22.05 percent 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 3592.97 34257.18 (+1.72) (+9.77) July-June Month 2017-18 P* 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-March Export target was set USD 37500.00 million for FY 2017-18 of which export target for July-March2017-18 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 July-March, 2017-18 July-March, 2016-17 1. Raw Jute 122.08 2. Jute goods (excl.carpet) Particulars (US$ in million ) Changes during July-March, 2017-18 over July-March, 2016-17 In amount In percent 142.42 -20.34 -14.28 696.01 588.60 +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. 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 3. Tea Leather Knitwear 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 2015-16 R 2014-15 2015-16 R 2014-15 2015-16 R 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 July-January 33695.90 (+25.21) 26911.50 (+9.88) 29646.88 (+11.66) 26551.16 (+12.24) 45667.01 (+66.28) 27464.01 (+12.32) Source: National Board of Revenue (NBR), Foreign Exchange Operations Department of Bangladesh Bank , NA=Not Available. Note:- Figures in brack ets indicate percentage changes over the corresponding period of the preceding year. Customs based c&f incorporated in MEI since February, 2015 onwards with the approval of competent authority. P = Provisional, R=data Revised. Custom based import during July-January 2017-18 stood higher by USD 6.78 billion or 25.21 percent and stood at USD 33.70 billion against USD 26.91 billion during JulyJanuary, 2016-17. 2. Custom based import growth-cumulative 56.00 2016-17 49.00 2017-18 42.00 Percent 35.00 28.00 21.00 14.00 7.00 Fresh opening of import LCs during July-January, 201718 increased by 66.28 percent and stood at USD 45.67 billion compared to USD 27.46 billion during JulyJanuary, 2016-17. 15 Jan. Dec. Nov. Oct. Sep. Jul. 0.00 Aug. Settlement of import LCs during July-January 2017-18 increased by 11.66 percent and stood at USD 29.65 billion against USD 26.55 billion during July-January, 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-January, 2017-18 and July-January, 2016-17 are shown below: (US$ in million) P July-January, 2017-18 Percentage changes during July-January, 2017-18 July-January, 2016-17 over July-January, 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 5506.24 4700.04 2681.39 3525.58 2904.84 2033.75 56.18 61.80 B. Intermediate goods 2656.62 2317.30 1840.53 2428.82 2200.18 1777.75 9.38 5.32 3.53 C. Industrial raw materials 11409.17 10313.29 7305.64 9811.88 9535.36 5817.21 16.28 8.16 25.59 D. Capital machinery 3855.54 3095.54 6702.99 3010.15 3222.82 5514.02 28.08 -3.95 21.56 E. Machinery for misc. inds. 3826.08 2999.25 2546.30 2880.30 2760.81 1829.49 32.84 8.64 39.18 F. Petroleum & petro.prodts. 1934.55 1638.82 696.91 1458.18 1390.05 571.51 32.67 17.90 21.94 G. Others 16478.81 4582.63 15127.85 4349.11 4537.09 3229.99 278.90 1.00 368.36 Total 45667.01 29646.88 36901.62 27464.01 26551.16 20773.71 66.28 11.66 77.64 of which back to back 5093.24 4440.11 3180.70 4518.72 Source: Foreign Exchange Operations Department, Bangladesh Bank. P=Provisional. 4221.87 2411.82 12.71 5.17 31.88 Sectors / Commodities 31.85 The developments of sectoral share in total LCs opening during July-January, 2017-18 and July-January, 2016-17 are shown in the following pie diagrams. Sectoral sharing in LC Opening (July-January, 2017-18) Consumer goods, 12.06% Others , 36.08% Petroleum & petro.products , 4.24% Sectoral sharing in LC Opening (July-January, 2016-17) Others , 15.84% Intermediate goods, 5.82% Petroleum & petro.products , 5.31% Machinery for misc. industry, 10.49% Machinery for misc. industry, 8.38% Capital machinery, 8.44% Consumer goods, Intermediate 12.84% goods, 8.84% Industrial raw materials, 24.98% Sector-wise detailed statistics of fresh opening, settlement and July-January, 2017-18 and July-January, 2016-17 are given in Appendix. Capital machinery, 10.96% outstanding Industrial raw materials, 35.73% 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 March'18 4807.49 991.51 April'18 4797.50 1025.26 May'18 4861.96 1000.90 March-May, 2018 14466.94 3017.67 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 14.47 billion and USD 3.02 billion respectively during March-May, 2018. The mentioned liability is 9.31 percent of foreign exchange reserves as on March 29, 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 33.37 billion (with ACU liability of USD 1.56 billion) as of end February 2018, as compared to USD 32.69 billion (with ACU liability of USD 0.85 billion) as of end January, 2018. The foreign exchange reserves (less ACU liability) is equivalent to import liability of 7.10 months; according to the average of the previous 12 months (February, 2017- January, 2018) import liability is of USD 4.48 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 3.13 billion as of end February 2018 which was higher than USD 3.04 billion of end January 2018. It was also higher than the balance of USD 2.86 billion at the end of February 2017. (US$ in million) 31385.87 26379.04 October 31895.31 27058.39 November 31370.88 26407.63 December 32092.19 27493.31 January 31724.17 27139.14 February 32556.66 28058.56 March 32215.19 28265.93 32518.77 29106.26 32245.69 28802.90 33492.95 30168.23 B. Outstanding April stock at the end of May the month June Month / Year P R 8.2 7.9 7.6 7.3 7.0 FX reserve held by CBs in billion USD 3.25 3.10 2.95 July 2017-18 32993.98 2016-17 30039.29 August 33596.25 31165.06 2.65 September 32816.59 31385.87 2.50 October 33452.29 31895.31 2.35 November 32623.86 31370.88 2.20 December 33226.86 32092.19 January 32694.69 31724.17 February 33368.99 32556.66 Feb.17 2.80 Source : Accounts & Budgeting Departm ent, Bangladesh Bank. 17 Feb.18 September 8.5 Jan.18 26175.34 9.1 8.8 Dec.17 31165.06 25469.08 Nov.17 August July Oct.17 2015-16 Sep.17 2016-17 R 30039.29 Gross FX reserves in billion USD (LHS) Reserve covers months of import (RHS) Aug.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 Jul.17 30168.23 (+20.55) Jun.17 25025.25 (+16.35) May.17 2015-16 21507.99 (+40.44) Apr.17 2014-15 Mar.17 2013-14 A. Outstanding stock at the end of the year
  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 Month FY2016-17 Foreign Aid R 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 July-June 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) 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 July-January 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 26.46 3068.49 3094.95 640.50 2454.45 13.66 1525.47 1539.13 528.59 1010.55 (+93.70) (+101.15) (+101.08) (+21.17) (+142.88) (+8.33) (-12.45) (-12.30) (-1.20) (-17.16) Source : Bangladesh Bank & Ministry of Finance, P=Provisional; R = Revised Foreign Aid Total foreign aid disbursements during July-January, 3600 2017-18 increased significantly by USD 1.56 billion or 3100 Total Aid 3094.95 101.08 percent compared to July-January, 2016-17 and After principle repayment of USD 0.64 billion, the net receipts of foreign aid stood at USD 2.45 billion during Million USD 2600 stood at USD 3.09 billion. July-January, 2017-18 as compared to USD 1.01 billion 2454.45 2100 1539.13 1600 1010.55 1100 of the same period of the previous year. 600 100 July-January, 2017-18 18 July-January, 2016-17 Net Aid
  21. 15 . Exchange rate movements: Month FY 2015-16 (Taka/USD) Month Avg. 1/ Month End FY 2016-17 (Taka/USD) 2/ Month Avg. 1/ Month End FY 2015-16 (Rupee/USD) 2/ Month End FY 2016-17 (Rupee/USD) 3/ Month End 3/ 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) FY 2017-18 (Taka/USD) Month Avg.1/ Month End2/ Month Avg.1/ Month End2/ Month End3/ Month End3/ 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 1/ 3/ Source : Statistics Department and Forex Reserve and Treasury Management Department, Bangladesh Bank & Exchange Dealer's Association (BAFEDA). 65.1031 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 February 2018 from its level of end June 2017. Indian Rupee (INR) also depreciated by 0.56 percent against US dollar as of end February 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 TK. /INR 1.30 19
  22. 16 . Balance of payments (BOP) (US$ in million) Particulars July-January, 2017-18 P July-January, 2016-17 -10123 -5282 21053 19618 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) 31176 24900 -2585 2467 -1995 2114 5052 4109 -1167 -1128 58 36 1225 302 8528 39 8489 8128 1164 230 7515 28 7487 7071 Current account balance -5347 -890 164 192 164 192 4744 2537 1105 1130 312 184 3327 211 105 1196 2893 1245 641 529 84 762 -1060 -84 783 -405 1289 -469 820 186 -448 -262 -595 351 -1034 2190 1034 -2190 Trade balance Exports f.o.b(including EPZ) 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 Errors and omissions Overall balance Reserve assets Bangladesh Bank(net) Assets Liabilities 1034 -2190 -1217 1755 -183 -435 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 10.12 billion during July-January, 2017-18 as compared to the deficit of USD 5.28 billion during July-January, 2016-17. Despite financial account surplus of USD 4.74 billion, overall balance incurred a deficit of USD 1.03 billion due to the large deficit in current account balance during July-January, 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. NBR Tax Revenue Income VAT others* Tax Customs duties 1 2 3 Non-NBR Tax Total 4 Revenue 5=(1+..+4) 2016-17 1/ 6 Total Tax Revenue Collections Customs duties 7=(5+6) 1 NBR Tax Revenue Income VAT others* Tax 2 3 P Total 4 2015-16 (Taka in crore) Non-NBR Total Tax Tax Revenue Revenue 5=(1+..+4) 6 1/ Collections 7=(5+6) 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 July-January 14109.08 41895.01 32115.92 22359.24 110479.25 4376.00 114855.25 11777.20 36253.20 28487.95 19271.42 95789.77 3257.72 99047.49 (+15.34) (+34.33) (+15.96) (+19.78) (+2.58) (+19.12) 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. 1/ 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-January, 2017-18 stood at TK 114855.25 crore which was higher by Taka 15807.76 crore or 15.96 percent against the collection of Taka 99047.49 crore during JulyJanuary, 2016-17. NBR tax revenue collection during July-January, 2017-18 stood at TK 110479.25 crore which was higher by Taka 14689.48 crore or 15.34 percent against the collection of Taka 95789.77 crore during July-January, 2016-17 Target for NBR tax revenue collection is Taka 2,48,190.00 crore for FY18 Growth of total tax revenue +250 NBR Cummulative growth of NBR tax revenue Non-NBR Total 28.00 2017-18 2016-17 21 Jan. Dec. Nov. Jan. 18 Dec. 17 Nov. 17 Oct. 17 Sep. 17 Aug. 17 Jul. 17 Jun. 17 May.17 8.00 Apr.17 +0 Mar. 17 12.00 Feb. 17 +50 Oct. 16.00 Sep. +100 20.00 Aug. +150 Jul. Percentage 24.00 Jan. 17 Percentage +200
  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 Sale Repayment (Principal) 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. Cumulative growth of net sale of NSC The sale of National Savings Certificates (NSC) during July- 94.00 February, 2017-18 stood at Taka 53831.65 crore which was 2016-17 84.00 2017-18 74.00 14.22 percent higher than the amount of sale during July- through NSC during July-February, 2017-18 was Taka 33119.77 Percent February, 2016-17. The net borrowing of the government 64.00 54.00 44.00 34.00 24.00 4.00 22 Feb Jan Dec Nov Oct end February, 2018 stood at Taka 224355.99 crore. Sep -6.00 Jul The outstanding borrowing of the government through NSC as of 14.00 Aug crore against Taka 33282.57 crore of July-February, 2016-17.
  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 6=(4+5) 7 8 9 -4376.00 12256.14 7880.14 10218.86 18099.00 2.27 116823.84 14.65 2010-2011 19175.90 3012.93 22188.83 7470.44 29659.27 3.24 R 139012.67 15.18 2011-2012 18784.20 2241.10 21025.30 9714.35 30739.65 2.91 160037.97 15.17 2012-2013 17873.00 7724.86 25597.86 15080.19 40678.05 3.39 185635.83 15.48 2013-2014 6627.80 15351.72 21979.52 14224.04 36203.56 2.69 207615.35 15.45 2014-2015 -7370.70 34723.57 27352.87 17067.58 44420.45 2.93 234968.22 15.50 2015-2016 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 -17675.40 29997.54 12322.14 7937.24 20259.38 1.03 285783.51 14.46 -15029.90 30146.16 15116.26 19968.23 35084.49 1.58 324798.13 14.61 July-January, 2017-18 P 5 market priceR 2009-2010 July-January, 2016-17 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/: Excludes saving certificates held by the banks and 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 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 151.16 billion during July-January, 2017-18 as compared to that of Taka 123.22 billion of July-January, 2016-17. Net foreign financing stood significantly higher at Taka 199.68 billion in the period under review. The total budget financing of the government during July-January, 2017-18 also stood significantly higher at Taka 350.84 billion against Taka 202.59 billion during July-January, 2016-17. Govt.’s net borrowing from the banking system stood negative at Taka 150.30 billion as government’s repayment exceeded borrowing during July-January, 2017-18. Govt.’s borrowing from the non-banking sources stood higher at Taka 301.46 billion during July-January, 2017-18 as compared to that of July-January, 2016-17. The total budget financing during July-January, 2017-18 stood at 1.58 percent of projected GDP against 4.80 percent as envisaged in the national budget for FY18. 18. Food situations Actual Domestic Production (Gross) Year Production FY2010-11 Target 360.65 FY2011-12 FY2012-13 FY2013-14 357.25 354.66 358.81 348.20 350.88 356.56 FY2014-15 360.50 FY2015-16 364.24 R 365.91 FY2017-18T 372.97 FY2016-17 Net (In lakh metric ton) Foodgrain Public Public Total Domestic Distribution Stock Public Procurement 4.62 22.91 (End June) 8.87 Govt. & food aid Private 22.04 35.00 57.04 313.38 10.50 4.72 8.56 12.40 14.18 21.37 22.90 315.79 320.90 18.90 29.93 14.26 14.06 14.34 20.95 20.87 22.20 12.48 14.97 11.53 360.58 324.52 3.34 49.40 52.74 16.76 18.38 12.86 360.03 324.03 3.34 42.06 45.40 12.32 20.64 8.56 351.16 316.04 3.93 54.30 58.23 16.14 22.42 3.79 ---- 9.00 0.00 9.00 18.00 27.37 - 345.13 ---- Domestic Food grain Imports Production* 310.62 Particulars July-February, 2017-18 July-February, 2016-17 - 21.35 3. Procurement (Rice) 76.27 5.51 41.92 13.94 4. Distribution (Rice & Wheat) 5. Food Stock 9.44 15.77 12.72 9.10 ** 1. Production 2. Imports (Rice & Wheat) Source : Bangladesh Food Situation Report, FPMU, Ministry of Food. Note : T = Target, P = Provisional, R = Revised, 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 76.27 lakh metric tons during July-February, 2017-18 than 41.92 lakh metric tons during July-February, 2016-17. While, procurement of rice during July-February, 2017-18 was lower than that of July-February, 2016-17. Public food distribution of rice and wheat was also lower at 9.44 lakh metric tons during July-February 2017-18 compared to 12.72 lakh metric tons during July-February, 2016-17. However, outstanding food stock was 73.30 percent higher at 15.77 lakh metric tons at the end of February, 2018 as compared to the end of February 2017. 23
  26. APPENDIX Break-up of fresh opening , settlement and outstanding of import LCs (US$ in million ) July-January, 2017-18 P July-January, 2016-17 Fresh opening of LCs Settlement of LCs 5506.24 4700.04 2681.39 3525.58 2904.84 2033.75 56.18% 61.80% 31.85% Rice and wheat 2779.25 1965.38 1084.91 880.77 642.83 494.62 215.55% 205.74% 119.34% Sugar and salt 544.54 659.94 398.09 547.31 479.68 444.57 -0.51% 37.58% -10.46% Milk food 193.25 162.57 129.19 169.93 122.54 110.43 13.72% 32.67% 16.99% Edible oil (refined) 544.02 541.71 341.60 483.86 458.58 326.50 12.43% 18.13% 4.63% All kinds of fruits 237.83 173.63 104.39 199.21 146.33 60.47 19.39% 18.65% 72.64% Pulses 191.19 231.85 129.55 376.08 266.43 219.07 -49.16% -12.98% -40.86% Onion 237.24 207.24 38.77 118.66 114.40 31.07 99.93% 81.15% 24.79% Spices 90.67 89.41 26.49 101.35 92.09 27.68 -10.53% -2.91% -4.33% Second hand clothings 2.15 2.12 1.27 0.16 1.64 0.04 1240.14% 28.89% 3031.68% Drugs and medicines(finished) 49.24 45.90 23.88 50.15 43.34 21.90 -1.81% 5.90% 9.04% Others 636.86 620.29 2681.39 598.10 536.96 297.39 6.48% 15.52% 801.63% 2656.62 2317.30 1840.53 2428.82 2200.18 1777.75 9.38% 5.32% 3.53% 237.94 208.46 61.77 200.31 137.82 108.53 18.78% 51.26% -43.08% 9.84 9.89 12.63 6.67 8.47 8.37 47.58% 16.71% 50.82% Clinker & limestone 396.39 349.58 280.25 344.95 350.19 186.11 14.91% -0.17% 50.58% B. P. sheet 256.81 186.54 156.19 170.45 172.99 168.86 50.67% 7.83% -7.50% 6.74 12.77 4.55 7.50 4.92 6.28 -10.06% 159.46% -27.59% Scrap Vessels 495.49 411.27 366.21 432.67 439.91 393.76 14.52% -6.51% -7.00% Iron and steel scrap 460.14 411.55 379.52 461.49 390.28 363.55 -0.29% 5.45% 4.39% Non-ferrous metal 122.38 111.23 114.49 138.73 134.86 88.40 -11.79% -17.52% 29.51% Paper and paper board 284.04 219.04 196.76 222.09 199.72 159.87 27.89% 9.67% 23.07% Others 386.84 396.99 1840.53 443.97 361.02 294.02 -12.87% 9.96% 526.00% 11409.17 10313.29 7305.64 9811.88 9535.36 5817.21 16.28% 8.16% 25.59% Edible oil (Crude) & oil seeds 699.49 615.28 524.65 617.45 575.51 628.87 13.29% 6.91% -16.57% Textile fabrics (B/B & others) 4554.80 3965.06 2756.02 4127.31 3836.53 2116.17 10.36% 3.35% 30.24% Pharmaceutical raw materials 399.59 358.48 190.82 363.00 334.35 135.11 10.08% 7.22% 41.23% Raw cotton 1553.16 1498.32 1100.14 1382.58 1381.34 956.29 12.34% 8.47% 15.04% Cotton yarn 950.53 822.83 635.14 712.17 687.67 443.31 33.47% 19.65% 43.27% 2.71 2.19 5.08 1.64 2.33 2.30 64.84% -5.87% 120.60% Synthetic fibre & yarn 511.44 461.90 328.41 416.83 378.95 269.08 22.70% 21.89% 22.05% Chemicals & chem. products 2737.47 2589.23 7305.64 2190.90 2338.67 1266.09 24.95% 10.71% 477.02% Sectors / Commodities A. Consumer goods B. Intermediate goods Coal Cement Tin plate C. Industrial raw materials Copra Outstanding Fresh Outstanding Settlement LCs at the opening of LCs at the of LCs end period LCs end period Changes during July-January, 2017-18 over July-January, 2016-17 Fresh opening of LCs Outstanding Settlement LCs at the end of LCs period (continued on page-25) 24
  27. APPENDIX Break-up of fresh opening , settlement and outstanding of import LCs (US$ in million ) July-January, 2017-18 Sectors / Commodities P July-January, 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-January, 2017-18 over July-January, 2016-17 Fresh Outstanding Settlement of opening of LCs at the LCs LCs end period 3855.54 3095.54 6702.99 3010.15 3222.82 5514.02 28.08% -3.95% 21.56% Textile machinery 573.64 529.42 780.76 440.38 408.40 634.15 30.26% 29.63% 23.12% Leather / tannery 9.74 5.95 14.20 10.54 17.10 10.37 -7.57% -65.19% 37.00% Jute industry 9.21 8.60 15.42 2.49 11.90 4.81 270.31% -27.76% 220.90% Garment industry 478.69 432.77 786.74 460.51 406.96 637.07 3.95% 6.34% 23.49% Pharmaceutical industry 81.76 62.86 88.54 100.26 67.65 93.16 -18.45% -7.07% -4.96% Packing industry 9.10 10.18 8.76 6.15 11.60 9.13 47.96% -12.26% -4.06% 2693.41 2045.76 5008.57 1989.82 2299.21 4125.34 35.36% -11.02% 21.41% 3826.08 2999.25 2546.30 2880.30 2760.81 1829.49 32.84% 8.64% 39.18% Other machineries 551.72 489.63 349.54 491.46 473.18 289.53 12.26% 3.48% 20.73% Marine diesel engine 12.43 12.93 45.73 7.09 12.55 44.04 75.24% 3.05% 3.84% Computer & its accessories 238.59 239.75 126.68 210.93 216.85 93.99 13.11% 10.56% 34.78% Motor vehicle & motorcycle parts 106.68 88.89 55.84 79.26 63.35 36.05 34.60% 40.32% 54.89% Bicycle parts 55.93 46.59 36.24 47.53 33.89 29.86 17.66% 37.46% 21.37% Other iron and steel products 292.46 278.17 191.01 297.73 285.31 203.01 -1.77% -2.50% -5.91% Motor vehicles 906.53 667.37 520.26 622.68 538.74 254.45 45.58% 23.88% 104.47% Other electronics components 232.16 167.58 154.44 115.50 82.52 101.49 101.00% 103.08% 52.18% Tractors & power tiller 63.15 61.54 26.81 51.32 47.03 20.00 23.06% 30.86% 34.07% 1366.43 946.80 1039.76 956.79 1007.40 757.09 42.81% -6.02% 37.34% 1934.55 1638.82 696.91 1458.18 1390.05 571.51 32.67% 17.90% 21.94% Crude 412.25 268.68 179.41 228.37 177.03 156.07 80.52% 51.77% 14.95% Refined 1522.30 1370.14 517.50 1229.81 1213.03 415.44 23.78% 12.95% 24.57% G. Others 16478.81 4582.63 15127.85 4349.11 4537.09 3229.99 278.90% 1.00% 368.36% Commercial sector 13542.51 1845.72 13366.98 1953.82 2471.26 1953.42 593.13% -25.31% 584.28% Industrial sector 2936.30 2736.91 1760.87 2395.29 2065.84 1276.57 22.59% 32.48% 37.94% 20773.71 66.28% 11.66% 77.64% 2411.82 12.71% 5.17% 31.88% D. Capital machinery Other industry E. Machinery for misc. inds. Others F. Petroleum & petro.prodts. Total of which back to back 45667.01 29646.88 5093.24 4440.11 36901.62 3180.70 27464.01 26551.16 4518.72 Source: Foreign Exchange Operations Department(FEOD), Bangladesh Bank. 25 4221.87