GDP growth in Bangladesh slows to 6.07% in Q1 FY24

19 Feb '24

1 min read

GDP growth in Bangladesh slows to 6.07% in Q1 FY24

Insights

Bangladesh's GDP grew at an estimated 6.07 per cent in Q1 FY24 (July-September), while real FY23 growth stood at 5.78 per cent in the final count, official statistics show.
Growth in Q4 FY23 was 6.24 per cent, much lower year on year.
The industrial sector recorded a fall in quarterly growth to 9.67 per cent in Q1 FY24 from Q4 FY23 figure of 11.41 per cent.

Bangladesh’s gross domestic product (GDP) grew at an estimated 6.07 per cent in the first quarter (Q1, July-September) of the current fiscal (FY24), while real growth in the last fiscal stood at 5.78 per cent in the final count, according to the Bangladesh Bureau of Statistics.

The last fiscal’s figure was lower than official projection.

The FY23 last quarter saw a growth of 6.24 per cent, much lower year on year (YoY). The Q1 FY23 GDP growth was 8.76 per cent, according to domestic media reports.

The release of quarterly GDP data followed the government's decision taken in November 2020 and later advised by the International Monetary Fund.

The industrial sector recorded a fall in quarterly growth to 9.67 per cent in Q1 FY24 from Q4 FY23 figure of 11.41 per cent.

ALCHEMPro News Desk (DS)

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