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Dhaka Tribune

BBS likely to post quarterly GDP data from FY24

The quarterly gross domestic product data is likely to include two other sectors, like household activities of the family members and the housemaids

Update : 22 Dec 2022, 03:48 PM

The Bangladesh Bureau of Statistics (BBS) is likely to publish quarterly GDP data from next FY24, by incorporating the household activities, as the organization was working to build capacity of the public data-providing agencies.

The quarterly gross domestic product (QGDP) data is likely to include two other sectors, like household activities of the family members and the housemaids, in its calculation from the next FY, officials said on Wednesday.

The country's quarterly gross economic output would help estimate the expansion or contraction of the country's economy quickly and accurately, they added.

Currently, Bangladesh's national statistical body - the BBS - provides GDP data on an annual basis.

Usually, the agency announces provisional data in the last quarter of a FY, and provides final data of the annual GDP and in the first quarter of the following year.

Another BBS official said they have planned to start publishing the QGDP from next FY.

The national statistical body will use data from 21 sectors and 99 sub-sectors for making quarterly and annual GDP growth forecasts.

Currently, the BBS uses 19 sectors for the country's GDP calculation.

BBS Director General Md Matiur Rahman said they were taking preparations to publish the QGDP.

The QGDP will mark a paradigm shift in assessing Bangladesh's economic activities and development, he added.

Meanwhile, the IMF has put pressure on the government to produce quarterly economic data for assessing the country's development scenario.

In a meeting with the IMF recently, the BBS has agreed to produce the QGDP, the officials said.

The BBS has already signed memorandums of understanding (MoUs) with various stakeholders to get the data every three months.

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