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Sunday, May 22, 2022

Bangladesh achieved GDP growth of 6.94pc in last fiscal

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Bangladesh achieved an impressive 6.94 percent GDP growth in the 2020-21 fiscal year amid the Covid-19 pandemic, according to a final estimate of the government.

The country’s GDP size stood at US$ 416 billion and the per capita income rose to US$ 2,591 (as per GNI) in the last fiscal year, said Planning Minister MA Mannan quoting the estimate.

The estimate was placed at the weekly meeting of the Executive Committee of the National Economic Council (Ecnec) on Tuesday.

Ecnec Chair and Prime Minister Sheikh Hasina presided over the meeting, joining it virtually from her official residence Ganobhaban.

Other ministers and officials concerned were connected with the meeting from the NEC conference room, UNB reports.

“The GDP growth rate finally stood at 6.94 percent in the last fiscal year, which is much higher than the provisional estimate of 5.43 percent,” said MinisterMannan while briefing reporters after the meeting.

The GDP size was finally estimated at US$ 416 billion, also higher than the provisional estimate of US$ 411 billion, he said.

“The per capita income also increased to US$ 2,591 (as per GNI) in the final estimate, from US$ 2,554 in the provisional estimate,” said the Planning Minister.

In the 2019-20 fiscal year, the GDP growth rate was 3.45 percent, while GDP size was US$ 374 billion, the per capita income was US$ 2,326.

Besides, the growth rate was 3.17 percent in the agriculture sector, 10.29 percent in the industrial sector and 5.73 percent in the service sector during the 2020-21 fiscal year, which were 3.42 percent, 3.61 percent and 3.93 percent respectively in the 2019-20 fiscal year.

The investment-GDP ratio was 31.02 percent in the last fiscal year, which was slightly less than 31.31 percent attained in 2019-20 fiscal year.

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