Bangladesh: Fortnightly Trends of Major Economic Indicators Updates on 30 November

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1. Monetary Policy Department Bangladesh Bank , Head Office, Dhaka. Fortnightly Trends of Major Economic Indicators: Updates on 30th November 2020 As per the latest available data, broad money increased by Tk. 65993.00 crore or 4.80 percent in October 2020 over end June 2020 against the increase of Tk. 42199.70 crore or 3.46 percent during the same period of the preceding year. Broad money increased during the reported period due mainly to increase in net foreign assets (NFA). Reserve money stood at Tk 296578.30 crore as on 30 November 2020 which was Tk. 295675.70 crore as on 15 November 2020. Reserve money increased by 4.48 percent as on 30 November 2020 over end June 2020 which also increased by only 0.02 percent during the same period of the preceding fiscal year. Domestic credit increased by 2.17 percent and stood at TK. 1335985.20 crore in October 2020 over end June 2020 against the increase of 4.58 percent to Tk.1199463.10 crore during the same period of the previous fiscal year. Domestic credit growth slightly subdued over the reported period due to slow growth in credit to public sector. Credit to public sector increased by 5.37 percent in October 2020 over end June 2020 against the increase of 26.99 percent during the same period of previous fiscal year. However, private sector credit growth remained same over the reported period. Government borrowing from the banking system including BB decreased by Tk. 2278.97 crore during the period of 16-29 November 2020 as compared to the increase of Tk. 815.89 crore during the same period of the last year. However, as per the latest available data, government overall borrowing from the banking system increased by Tk. 3696.57 crore from 01 July to 29 November, 2020 which increased by Tk. 41371.31 crore during the same period of the preceding fiscal year. NBR tax revenue collection stood at Tk. 49989.72 crore or increased by 4.11 percent (y-o-y) during July-September 2020 as compared to Tk. 48015.70 crore or 3.97 percent increase during the same period of the preceding fiscal year. Inward Remittances increased by 41.18 percent and stood at US$ 10894.10 million during JulyNovember 2020 against the increase of 22.71 percent to US$ 7716.25 million during the same period of the last fiscal year. Exports increased by 0.93 percent and stood at US$ 15923.59 million during July-November 2020 against the decrease of 7.59 percent to US$ 15777.10 million during the same period of the preceding fiscal year.
2. Current account balance recorded a significantly surplus of US $ 4054 million during July-October 2020 against the deficit of US$ 1521 million during July-October 2019. Surplus in current account balance emerged from larger inflows of remittances and significantly lower deficit both in trade and service accounts. Despite having lower surplus in financial account balance, with the support of a handsome surplus in current account balance foreign exchange reserves of BB increased by US$ 9.54 billion and stood at US$ 41.27 billion as on 30 November 2020 from US$ 31.73 billion as on 30 November 2019. Inflation on twelve-month average basis (Base: FY2005-06=100) decreased to 5.73 percent in November 2020 from 5.77 percent in October 2020 due mainly to decrease in food inflation. Point to point general inflation also decreased to 5.52 percent in November 2020 from 6.46 percent in October 2020 due to decrease in both food and non-food inflation. Detailed fortnightly information upto 30th November 2020 are given at annex-1.
3. Annex-1 (continued) Detailed Information on Trends of Major Economic Indicators upto 30 November 2020 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) R October 2019 September 2020 1261811.20 1426204.50 1439728.00 (+3.46) (+3.82) (+4.80) 245451.40 *** 295675.70 ** October 2020 296578.30 * (+0.02) (+4.16) (+4.48) 1106983.60 1237006.50 1251671.80 (+3.91) (+4.69) (+5.93) 1199463.10 1332958.90 (+4.58) (+1.94) (+2.17) 173504.70 219876.60 221662.70 1335985.20 (+26.99) (+4.52) (+5.37) 147656.90 190498.60 191607.10 (+30.35) (+5.16) (+5.77) 25847.80 29378.00 30055.60 (+10.67) (+0.56) (+2.88) 1025958.40 1113082.30 1114322.40 (+1.55) (+1.44) (+1.55) 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 30th Novemebr 2020, **Figure is as of 15th November 2020, ***Figure is as of 30th November 2019 . # 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 29 November 2019 29 November 2020 16-29 November 2019 16-29 November 2020 01 July-29 November 2019 01 July-29 November 2020 1. A. Net outstanding position of govt. borrowing from Bangladesh Bank 39814.79 21482.27 -288.34 -2206.18 5870.06 -22871.23 B. Net outstanding position of govt. borrowing from banking sector(including BB) 149467.01 181519.57 815.89 -2278.97 41371.31 3696.57 September 2019 September 2020P September 2019 September 2020P July-September 2018-19 July-September 2019-20p 323638.44 354864.12 (+)1532.91 (+)3723.26 (+)5635.37 (+)13874.78 September 2019 September 2020P July-September 2019 July-September 2020P 17903.87 (+2.20) 19830.23 (+10.76) 48015.70 (+3.97) 49989.72 (+4.11) 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 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. Flow for the period of
5. Annex-1 (concluded) III. External Sector Particulars 1.Custom based import (c&f) Particulars 2. Opening of Import L/C 3. Settlement of Import L/C ` 4. Inward Remittances 5. Exports (In million US$) October 2019 October 2020 July-October 2019 July-October 2020P 5279.30 4375.80 19603.30 17062.30 (-4.82) (-17.11) (-3.17) (-12.96) September 2019 September 2020 July-September 2019 July-September 2020P 5100.00 (+5.90) 4361.28 (-3.75) 5344.65 (+4.80) 4140.44 (-5.06) 14599.31 (-1.05) (+3.93) 13300.44 (-8.90) 11501.27 (-13.75) November 2019 November 2020 July-November 2019 July-November 2020P 1555.23 (+31.75) 2068.46 (+33.00) 7716.25 10894.10 (+22.71) (+41.18) November 2019 3055.85 (-10.70) November 2020 3078.95 (+0.76) July-November 2019 15777.10 (-7.59) July-October 2020P 15923.59 (+0.93) 6. Current Account Balance 13335.28 July-October 2019 July-October 2020P -1521.00 4054.00 30 November 2019 15 November 2020 30 November 2020 31728.99 (-3.02) 40505.79 (+12.40) 41269.22 November 2019 October 2020 November 2020 a. Twelve month average basis 5.56 5.77 5.73 b. Twelve month point to point basis 6.05 6.46 5.52 7. Foreign Exchange Reserve# (+30.07) 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.