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Bangladesh economy grows 5.43pc in FY21

  • Sun Online Desk
  • 23rd November, 2021 09:46:40 PM
  • Print news
Bangladesh economy grows 5.43pc in FY21
Representative image

The country’s economic output grew by 5.43 per cent in the 2020-21 fiscal year to expand its GDP size to $411 billion or Tk 27,939 billion, according to the provisional estimate of the state statistics agency. 

Bangladesh Bureau of Statistics (BBS) has calculated this figure according to the new base year of 2015-16, which also shot up per capita income to $2,554. Per-capita income was $2,227 in line with the previous base year of 2005-06.

 “We’ve revised the base year of the economy from 2005-06 to 2015-16. As a result, the per-capita income has soared as domestic production has increased,” Planning Minister MA Mannan said while unveiling the latest GDP data at a press briefing on Tuesday.

BBS presented comparative GDP figures, which showed a modestly higher provisional growth estimate of 5.47 per cent for the last fiscal year.

The previous 2019-20 fiscal year’s growth figure also changed to 3.45 per cent in the new base year, which was 3.51 per cent in old GDP calculations.

In the new base year, gross value addition in the agriculture sector rose by 14.8 per cent after the inclusion of 20 new crops in the crop subsector, including dragon fruit, strawberry, capsicum, Burmese grape, taro leaf, custard apple and malta.

Besides, new production data of livestock and poultry sectors have also been included in the agriculture sector.

The industry sector, on the other hand, witnessed 36.1 per cent gross value addition. Survey of Manufacturing Industries (SMI) and new survey data of construction sector and residential waste collection data have been accommodated in it.

The service sector’s gross value addition soared by 14.3 per cent. The transport sector’s new survey data of Uber, Pthao, new private helicopter services, real estate sector, mobile bank, agent banking, non-profit organizations of the government and latest information of education and health sector have been included in it.