GDP growth rate reaches 5.24% in FY2019-20

The GDP growth rate of Bangladesh has reached 5.24 per cent in the last fiscal year (FY20) despite the impact of Novel Coronavirus pandemic while the per capita income increased to $2,064, according to the provisional estimation of Bangladesh Bureau of Statistics (BBS).

The economy of Bangladesh, however, grew by a record 8.15 per cent and the per capita income totalled US$1,909 in the fiscal year (FY19).

The BBS data showed that the GDP growth rate in the FY18 was 7.86 per cent while it was 7.28 per cent in FY17.

The per capita income stood at $2,064 in the last fiscal from US$1,909 in FY19. The per capita income was US$1,751 in the FY18.

According to the BBS, the GDP growth rate at constant prices in the Industry sector increased by 6.48 per cent in the last fiscal year which was 12.67 per cent in FY19.

In the services sector, the GDP growth rate increased by 5.32 per cent in the last fiscal year while it was 6.78 per cent was in FY19.

In the agriculture sector, the GDP growth rate increased by 3.11 per cent in the last fiscal year while it was 3.92 per cent in FY19.

The BBS data also showed that in the last fiscal year, the investment ratio to GDP stood at 31.75 per cent which was 31.57 per cent in FY19.

In the last fiscal year, the private investment ratio to GDP increased to 23.63 per cent while the public investment ratio to GDP stood at 8.12 per cent.

The total GDP size of Bangladesh at constant prices has been estimated at Taka 11,637,396 million in the last fiscal year which was Taka 11,057,936 million in FY19.

However, at current prices, the total GDP size has been estimated at Taka 27,963,782 million in the last fiscal which was Taka 25,424,826 million in FY19.

The per capita GDP has also increased in the last fiscal with $1,970 which was $1,828 in FY19.