Bangladesh's GDP growth slows to 3.91% in Q4 FY24

30 Oct '24

1 min read

Bangladesh's GDP growth slows to 3.91% in Q4 FY24

Pic: Adobe Stock

Insights

Bangladesh's economy grew at 3.91 per cent in Q4 FY24 compared to 6.88 per cent in Q4 FY23 on the back of slowdown across industries, services and agriculture.
The rate is also lower than that of the previous quarter.
The steepest decline was seen in the industrial sector—growth was 3.98 per cent compared to 10.16 per cent in Q3 FY23, with growth slowing in both construction and manufacturing.

Bangladesh's economy grew at 3.91 per cent in the last quarter (Q4) of fiscal 2023-24 (FY24) compared to 6.88 per cent in Q4 FY23 on the back of slowdown across industries, services and agriculture.

The Q4 FY24 growth rate is also lower than that of the previous quarter, according to the Bangladesh Bureau of Statistics (BBS).

The steepest decline was seen in the industrial sector—growth was 3.98 per cent compared to 10.16 per cent in the year-ago period, with growth slowing in both construction and manufacturing.

Agriculture grew by 5.27 per cent in April-June of FY24 compared to 6.55 per cent in the same period of FY23.

BBS said GDP growth at current prices is estimated at Tk 13.784 lakh crore in the April-June quarter, compared to Tk12.161 lakh crore in the same period a year earlier.

Fibre2Fashion News Desk (DS)

More Textiles News - Bangladesh...