BBS records country's highest 7.86pc GDP growth

BBS
BBS

The country has posted the highest-ever gross domestic product (GDP) growth at 7.86 per cent in 2017-18 financial year, according to Bangladesh Bureau of Statistics (BBS).

This growth, estimated by the national body to collect statistics, has surpassing the projected growth at 7.65 per cent for the year that ended on 30 June.

Accordingly, per capita income rose to US$1,751 in 2017-18 from US$1,610 in the previous fiscal, reports UNB based BBS data.

"No major natural disaster hit us this year (last fiscal year). We have achieved this growth for outstanding success in the agriculture sector. Besides, we made good progress in the industrial and power sectors," planning minister AHM Mustafa Kamal told newsmen after an official meeting.

The final figure of economic growth was placed at the meeting of the executive committee of the National Economic Council (ECNEC) held in the NEC conference room in Sher-e-Bangla Nagar with ECNEC chairperson and prime minister Sheikh Hasina in the chair on Tuesday.

In the past fiscal year, share of agriculture in the GDP was 13.82 per cent, while that of each industry and services sectors was 30.17 per cent and 56 per cent respectively, said the minister.

The GDP growth was 7.28 per cent in 2016-17, 7.11 per cent in 2015-16 and 6.55 per cent in 2014-15 fiscal year.

He said the GDP size rose to Tk 22,505 billion or US$274.11 billion in the 2017-18, a rise from Tk 19,758 billion in 2016-17.

The planning minister said the investment to GDP ratio increased at 31.23 per cent -- 7.97 per cent public investment and 23.26 private sector investment -- in the 2017-18 financial year, up from 30.51 per cent in the 2016-17.

The ratio national savings against GDP was 27.42 per cent in the last fiscal year, Mustafa Kamal added.