Bangladesh’s GDP growth 6.12pc in 3rd quarter of FY 2023-24

Bangladesh’s gross domestic product (GDP) grew to 6.12 perc ent in the third quarter (January-March) of the fiscal year 2023-24, according to the Bangladesh Bureau of Statistics (BBS).

This quarterly GDP update, released today, Tuesday, is part of the requirements for a $4.7 billion loan from the International Monetary Fund (IMF).

The latest data shows a notable improvement from previous quarters, with GDP growth recorded at 6.01 per cent in the first quarter (July-September) and 3.78 per cent in the second quarter (October-December) of the same fiscal year.

Comparing the third quarter of FY 2023-24 to the same period last year reveals a substantial increase. GDP growth in the third quarter of FY 2022-23 was only 2.30 per cent.

In the third quarter of FY 2023-24, all major sectors – industry, services, and agriculture – experienced significant growth. The industrial sector saw the highest increase at 7.03 per cent. Approximately Tk 8,63,200 crore were added to the GDP at constant prices during the January-March period.