GDP Growth Drops to 3.69 Percent

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GDP Growth Drops to 3.69 Percent

In the fiscal year 2024–25, Bangladesh’s Gross Domestic Product (GDP) growth stood at 3.69 percent. This provisional estimate was released by the Bangladesh Bureau of Statistics (BBS), based on data from the final quarter (April–June) of the fiscal year.

Earlier, on May 27, BBS had projected a preliminary GDP growth of 3.97 percent for the fiscal year, based on data up to the third quarter. However, after incorporating the fourth-quarter data, the updated provisional estimate shows that GDP growth has declined slightly compared to the earlier forecast.

BBS will later release the final GDP growth figure after analyzing complete data from all four quarters. This final figure may differ somewhat from the current provisional estimate. Typically, the final GDP data is published in February.

It is noteworthy that in the 2023–24 fiscal year, GDP growth was 4.2 percent. In the 2022–23 and 2021–22 fiscal years, growth was 5.8 percent, while in 2020–21, it was 7.1 percent.

On Thursday, October 9, BBS published the provisional GDP estimate for the last fiscal year on its official website. According to the report, at current prices, the size of the GDP in the last quarter was Tk 14.4 trillion, compared to Tk 13.18 trillion during the same period of the previous fiscal year.

Based on provisional estimates, GDP growth at constant prices in the last quarter of the fiscal year was 3.35 percent, whereas it was 2.24 percent in the same period of the previous year. GDP growth for the first three quarters of the 2024–25 fiscal year was estimated at 1.96 percent, 4.48 percent, and 4.86 percent, respectively.

In the last quarter, agricultural sector growth at constant prices slightly declined compared to the same quarter of the previous year. Between April and June 2024–25, the sector grew by 3.01 percent, compared to 4.11 percent in the same period of 2023–24.

On the other hand, industrial sector growth increased compared to the same period of the previous year. In the final quarter of 2024–25, industry grew by 4.10 percent, whereas it was 1.08 percent in the same quarter of 2023–24.

In the services sector, growth in the final quarter was 2.96 percent, down from 3.61 percent during the same period of the previous fiscal year.

 

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