GDP grew by 6.9% in fiscal year 2021 (FY2021, ended 30 June 2021), up from 3.4% in FY2020. A rise in external trade and swift implementation of fiscal and monetary stimulus in response to the COVID-19 pandemic helped drive solid FY2021 expansion. The recovery was largely driven by rising industrial activity, up by 10.3% (from 3.6% in FY2020), followed by services, which grew by 5.7% (up from 3.9%). Growth in agriculture, however, slowed to 3.2% from 3.4% due to a cyclone and prolonged flooding early in the fiscal year. GDP is projected to continue to grow by 6.9% in FY2022 on increased budget spending, strong growth in exports, and a slight rise in agricultural output. In FY2023, GDP is expected to grow by a robust 7.1%.
|Composite Stock Price Index 1||6.0 (Aug23)||6.0||6.0|
|Broad Money Growth 2||10.5 (Jun23)||10.5||9.5|
|Headline Inflation Rate 3||10.2 (Jul23)||10.3||7.5|
|Industrial/ Manufacturing Production Growth Rate 3||9.4 (Apr23)||8.9||3.9|
|Merchandise Export Growth 3||-30.1 (Jun23)||-30.1||-13.5|
|Exchange Rate Index 4||163.9 (Aug23)||163.1||143.1|
|1 Monthly average, local index.|
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
|Source: Bloomberg LP; CEIC database; Bangladesh Bureau of Statistics; Bangladesh Bank.|
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