of  

or
Sign in to continue reading...

Bangladesh: Fortnightly Trends of Major Economic Indicators: Updates on 15 November 2019

IM Insights
By IM Insights
4 years ago
Bangladesh: Fortnightly Trends of Major Economic Indicators: Updates on 15 November 2019


Create FREE account or Login to add your comment
Comments (0)


Transcription

  1. Monetary Policy Department Bangladesh Bank , Head Office, Dhaka. Fortnightly Trends of Major Economic Indicators: Updates on 15 November 2019 As per the latest available information, broad money increased by 2.65 percent and stood at Tk.1251880.90 crore in September 2019 over end June 2019 against the increase of 0.80 percent during the same period of the previous fiscal year. Broad money increased over the reported period due mainly to increase in net domestic asset (NDA). Reserve money stood at Tk. 247138.20 crore as on 14 November 2019 which was Tk. 250312.80 crore as on 31 October 2019. Reserve money increased by 0.71 percent as on 14 November 2019 over end June 2019 which was decreased by 2.82 percent during the same period of the previous fiscal year. Domestic credit increased by 3.17 percent and stood at TK. 1183225.50 crore in September 2019 over end June 2019 which was increased by percent to Tk. 1034072.80 crore during the same period of the previous fiscal year. Domestic credit increased over the reported period due mainly to significant increase in credit to public sector including government. Credit to public sector increased by 21.88 percent in September 2019 over end June 2019 against the increase of 1.08 percent during the same period of the previous fiscal year. Credit to private sector also increased by 0.64 percent in September 2019 over end June 2019 which was increased by 1.24 percent in the same period of the previous fiscal year. Government borrowing from the banking system including BB increased by Tk. 4835.37 crore during the period of 01-14 November 2019 which was increased by Tk. 2232.32 crore during the same period of the previous year. Similarly, as per the latest available data, government overall borrowing from banking system increased by Tk. 43532.17 crore during the period from 01 July to 14 November 2019 which was increased by Tk. 2533.79 crore during the same period of the previous fiscal year. NBR tax revenue collection increased by 2.62 percent (y-o-y) and stood at Tk. 47388.07 crore during July-September 2019 which was increased by 5.85 percent during the same period of the previous fiscal year. Inward Remittances increased by 20.48 percent and stood at US$ 6154.22 million during JulyOctober 2019 against the increase of 12.17 percent to US$ 5108.00 million during the same period of the previous fiscal year. Inward Remittances increased over the reported period due mainly to government’s announcement to provide cash incentive at 2 percent on money to be remitted through the legal channel. Exports decreased by 6.82 percent and stood at US$ 12721.25 million during July- October 2019 which was increased by 18.65 percent to US$ 13651.78 million in the same period of the previous fiscal year. Exports decreased over the reported period due mainly to lower shipments of apparel items including RMG.
  2. Current account balance recorded a deficit of US $ 678 million during July-September 2019 which recorded a deficit of US$ 1316 million during the same period of the previous fiscal year. Lower deficit in current account emerged from a smaller deficit in trade account as well as increased remittance inflows. Foreign exchange reserves of BB decreased by US$ 0.79 billion and stood at US$ 31.65 billion as on 14 November 2019 from US$ 32.44 billion as on 31 October 2019 as Bangladesh Bank made payments to the Asian Clearing Union (ACU) amounted to US$ 985.32 million as on 7th November 2019. Inflation on twelve-month average basis (Base: FY2005-06=100) increased marginally by 5.50 percent in October 2019 from 5.49 percent in September 2019 due to increase in food inflation. However, point to point general inflation decreased to 5.47 percent in October 2019 from 5.54 percent in September 2019 due to decrease in non-food inflation. Detailed fortnightly information upto 15 November 2019 are given at annex-1.
  3. Annex-1 (continued) Detailed Information on Trends of Major Economic Indicators upto 15 November 2019 I. Money and Credit Particulars 1. Broad money (M2) 2. Reserve money @ 3. Bank deposits ## 4. Domestic credit (A+B) A. Public sector (including govt.) (a+b) i. Net credit to govt. sector ii. Credit to other public sector B. Credit to private sector (Taka in crore) September 2018 August 2019 R September 2019 1118894.60 1246305.30 1251880.90 (+0.80) (+2.19) (+2.65) 250312.80 ** 226417.50 *** 247138.20 * (-2.82) (+2.00) (+0.71) 977875.70 1081134.70 1093973.20 (+0.91) (+1.48) (+2.69) 1034072.80 1170178.20 1183225.50 (+1.22) (+2.03) (+3.17) 115327.20 162780.30 166528.70 (+1.08) (+19.14) (+21.88) 95695.10 138377.70 140781.70 (+0.84) (+22.16) (+24.28) 19632.10 24402.60 25747.00 (+2.25) (+4.48) (+10.24) 918745.60 1007398.00 1016696.80 (+1.24) (-0.28) (+0.64) Source: Statistics Department, BB. Note: Figures in the parenthesis indicate percentage changes over corresponding end June. P= Provisional, @=excluding F.C. clearing account *Figure is as of 14th November 2019, **Figure is as of 31st October 2019, ***Figure is as of 15th November 2018 . # Advances, import and inland bills. ## Demand and time deposits (excluding inter-bank) P
  4. Annex-1 (continued) II. Government Financing (Taka in crore) As on Particulars Flow for the period of 14 November 2018 14 November 2019 01 -14 November 2018 01-14 November 2019 01 July-14 November 2018 01 July-14 November 2019 1. A. Net outstanding position of govt. borrowing from Bangladesh Bank 19818.78 40103.13 1957.70 -1926.76 -3826.86 6158.40 B. Net outstanding position of govt. borrowing from banking sector(including BB) 90791.47 151627.88 2232.32 4835.37 2533.79 43532.17 As of end 2. Net outstanding position of non-bank borrowing of the govt.* 3. Govt.revenue collection (NBR portion) Flow for the month of September 2018 September 2019P 277728.23 323586.14 September 2018 September 2019 17519.29 (+13.05) 17785.63 (+1.52) Source: Research Department & Statistics Department, BB and National Board of Revenue. Note: Figures in the parenthesis indicate percentage changes over the same period of the previous year P= Provisional * Excludes saving certificates held by the banks and includes T.bills & T.bonds held by non-bank financial institutions. P Flow for the period of September 2018 September 2019P July-September 2018-19 July-September 2019-20p (+)4561.80 (+)1532.91 (+)13653.84 (+)5583.07 July-September 2018-19 July-September 2019-20 46180.41 (+5.85) 47388.07 (+2.62) P
  5. Annex-1 (concluded) III. External Sector (In million US$) Particulars 1.Custom based import (c&f) 2. Opening of Import L/C 3. Settlement of Import L/C ` 4. Inward Remittances 5. Exports September 2018R September 2019P July-September 2018-19 July-September 2019-20P 5160.20 5004.20 14698.20 14324.00 (+24.11) 4736.59 (+3.62) 4307.32 (+13.78) (-3.02) 5030.04 (+6.20) 4332.83 (+0.59) (+11.48) 14754.62 (+0.35) (+8.50) (-2.55) 14056.08 (-4.73) 12800.09 (-0.25) October 2018 October 2019P July-October 2018-19 July-October 2019-20P 1239.11 (+6.57) 1639.62 (+32.32) 5108.00 (+12.17) 6154.22 (+20.48) October 2018 3711.18 October 2019P 3073.23 July-October 2018-19 13651.78 July-October 2019-20P 12721.25 (-17.19) (+18.65) (+30.53) July-September 2018 R (-6.82) July-September 2019 -1316.00 6. Current Account Balance 12831.59 -678.00 15 November 2018 31 October 2019 14 November 2019 31013.43 (-5.86) 32437.74 (-0.85) 31648.03 (-3.27) October 2018 September 2019 October 2019 a. Twelve month average basis 5.63 5.49 5.50 b. Twelve month point to point basis 5.40 5.54 5.47 7. Foreign Exchange Reserve # IV. Price Index 1. CPI inflation at national level (Base : FY 2005-06=100) Source: Statistics Department and Accounts & Budgeting Department, BB and Bangladesh Bureau of Statistics. Note: Figures in the parenthesis indicate percentage changes over the same period of the preceding year. P=Provisional, # Figures in the parenthesis indicate percentage changes over corresponding end June. P