Bangladesh's economic growth rebounded to 6.12% in the third quarter of the just-concluded FY24 as all three broad sectors performed well to pull the economy from a preceding gloom, official data showed.
The gross domestic product (GDP) has been estimated to have recovered in the Q3 (January-March period) after a collapse to 3.78% in the preceding Q2 covering October-December of the last fiscal, according to Bangladesh Bureau of Statistics (BBS) provisional data released Tuesday.
In the Q1 spanning July-September period of three months, the GDP growth at constant price was estimated at 6.01%, the official statistics showed.
The GDP growth in the aforesaid Q3 on a point-to-point basis also looked better than in the same period of the previous FY23.
The Q3 GDP growth in FY2023 had hit a rock-bottom 2.3%.
Meanwhile, the BBS had recently also released the provisional annual GDP data for the immediate-past FY24 that showed an estimated growth of 5.82%, 0.04-percentage-point higher than the actual economic growth in the previous FY23.
At current price, the size of the Q3’FY24 GDP amounted to Tk1,347,800 crore.
In the Q1 and Q2 of the last fiscal, the size of the GDP was Tk1,309,900 crore and Tk1,187,500 crore respectively.
Economic growth in the industrial sector, which accounts for 40.42% of the country's gross domestic product or GDP, jumped to about 7.03% in the Q3 (Jan-Mar) of FY24 while it was 4.98% during the same period a year ago.
Similarly, agriculture also performed better in the Q3 with an expansion of 5.46% in the Q3 last fiscal from a paltry 1.88% a year ago.
The services sector, which contributes 50.23% to GDP, too got elevated with a 4.97% growth in the January-March period from a subdued 1.47% in the corresponding period, BBS data showed.
