Economy slows as GDP growth declines for 3rd consecutive quarter
The pace of the economy has somewhat slowed down, according to calculations by the Bangladesh Bureau of Statistics (BBS),
The GDP growth in the January-March quarter was 2. 22 per cent, which is lower than the previous two quarters of the fiscal year.
In the July-September and October-December quarters, GDP growth was 4. 96 per cent and 3. 03 per cent, respectively.
This means that GDP growth has continuously declined in the first three quarters of the last fiscal year.
However, general elections were held in the country during the January-March quarter, which led to a certain level of uncertainty in business and trade.
Today, Monday, the Bangladesh Bureau of Statistics (BBS) has released the GDP figures for the January-March period of the current fiscal year.
Earlier, the mass uprising in July-August of the 2024-25 fiscal year and the slowdown in business significantly affected GDP growth in the following fiscal year.
Recently, BBS provided provisional calculations of GDP for the outgoing fiscal year. It was noted that the GDP growth for the entire period of the outgoing fiscal year was 4. 14 per cent.
What is GDP
GDP generally indicates the size of a country's economy. It is the total production of goods and services generated using the elements of production and services within a specific period, generally one year.
When calculating GDP, only the final goods and services are considered, excluding intermediary products and services.
No growth in industry in January-March
GDP is expressed through three sectors: agriculture, industry, and services. In the January-March quarter, the industry sector experienced a negative growth of minus 0. 28 per cent, meaning less production compared to the same time the previous year.
After that, the agricultural sector grew by 1.74 per cent, and the service sector grew by 3. 52 per cent.
According to BBS data, the value-added within the country at constant prices in the January-March quarter was Tk 9085.41 billion In the previous quarter, this amount was Tk 9004.03 billion. In the first quarter (July-September), the value-added was Tk 859,0.10 billion.