Bangladesh economy grows by 3.78% in Q2 FY24; slowest in 3 quarters

The economic growth was 7.08 per cent in Q2 FY23, i.e., the October-December period of 2022.

Industrial production and farm production expanded by 3.24 per cent and 4.65 per cent in Q2 FY24 from 10 per cent and 4.22 per cent respectively in the same period a year ago.

The output growth in the industrial sector, which makes up 37.57 per cent of the economy, was the lowest in the five quarters, BBS said.

The services sector, which accounts for half of the GDP, increased by 3.06 per cent in Q2 FY24, half of what it registered a year ago, according to domestic media reports.

The national statistical agency started calculating quarterly GDP figures after the International Monetary Fund put that condition for a $4.7-billion loan.

ALCHEMPro News Desk (DS)