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%.
Source: Asian Development Outlook 2022.
Latest | Month-Ago | Year-Ago | |
---|---|---|---|
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. 2 %. 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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