Retail still contributes the most to the country's economy with the highest gross value addition (GVA) worth Tk208,700 crore, or nearly 63%.
A recent publication from the Bangladesh Bureau of Statistic (BBS) showed that the GVA of wholesale and retail trade services combined to the economy was worth Tk333,900 crore last year.
The GVA constitutes the value of all goods and services produced in an economy after deducting input cost.
The value addition from the trade services was paltry even a decade back in 2010, totalling Tk38,500 crore only, which later on had some faster growth.
The BBS conducted the survey in 2021 on trade services and the updated findings were calculated thereon.
Wholesale value addition to the economy was Tk83,538 crore in the year under review.
The lowest gross value added was Tk41,667 crore or 12.48% from wholesale and retail trade and repair of motor vehicles and motorcycles, auto-rickshaws, and rickshaws.
However, the value added to the economy marked an annual increase by 24.11% during this period.
The total value of all fixed assets belonging to the service trades was Tk125,500 crore.
The highest type of fixed-asset expenditure was land, with Tk63,390 crore, followed by machinery, computer, and other instruments with Tk21,380 crore, and furniture with Tk16,340 crore.
The total establishments were 2.54 million in 2021.
The number of establishments was, however, higher in 2010 at 2.65 million.
Value-added tax (VAT) and other taxes from wholesale and retail trade establishments have been estimated here.
The highest for retail trade is 46%, followed by wholesale and retail trade and repair of motor vehicles and motorcycles, auto-rickshaws and rickshaws 29% and wholesale trade with 25%.
The survey identified problems facing wholesale and retail businesses, both, which stymie their potential growth.
Retail business had the most problems due to the Covid-19 pandemic.
Then they also have a lack of buyers, lack of capital, high labour costs, and high transportation costs.