GDP growth in 3rd quarter of FY24 reaches 6.12%

The country's GDP growth in the 3rd quarter (January-March) period of the last fiscal year (FY24) has reached 6.12 per cent at constant prices mainly riding on the 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 per cent while it was 3.78 per cent 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 per cent, in the 2nd quarter it was 7.08 per cent, while it was 2.30 per cent 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 per cent growth followed by the agriculture sector with 5.46 per cent growth and services sector with 4.97 per cent growth.

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

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