Bangladesh's Q3 GDP growth of FY24 reaches 6.12%

GDP growth of Bangladesh in the 3rd quarter (January-March) period of the last fiscal year (FY24) reached 6.12% at constant prices mainly riding on good performance of the industry sector.

The GDP growth rate in the 1st quarter (July-September) of the last fiscal year (FY24) was 6.01% while it was 3.78% in the 2nd quarter (October-December) of the last fiscal year.

According to the quarterly GDP estimation released by the Bangladesh Bureau of Statistics (BBS), the GDP growth rate in the 1st quarter of FY23 was 7.03%, in 2nd quarter it was 7.08% while it was 2.30% in the 3rd quarter.

Analyzing the sector-wise GDP growth till the 3rd quarter of the FY24, it was found that the industry sector notched the highest growth during this 3rd quarter (January-March) with 7.03% growth followed by agriculture sector with 5.46% growth and services sector with 4.97% growth.

The performance of the industry sector in the 3rd quarter of FY23 was 4.98% followed by 1.88% for the agriculture sector and 1.47% for the services sector.

The BBS data also showed that the GDP size of Bangladesh in the 3rd quarter of FY24 at current prices were Taka 13,478 billion which was Taka 11,443 billon in the 3rd quarter of FY23.