In the fiscal year 2023-24, Bangladesh's GDP growth rate has decreased by 1.7%. According to preliminary estimates, the GDP growth rate for the previous fiscal year was projected to be 5.82%, but the final figure has been revised down to 4.12%.

This information was revealed in a report published by the Bangladesh Bureau of Statistics (BBS) on Monday (February 10). The report also mentioned that the final GDP growth rates for the fiscal years 2021-22 and 2022-23 were 7.10% and 5.78%, respectively.

According to the BBS, the main reason for the lower final GDP growth rate compared to the preliminary estimate is the revised calculation of export earnings, which led to slower industrial production.

As per the BBS calculations, in the fiscal year 2022-23, the GDP size at current prices was 50 trillion 2 thousand 700 crore BDT (approximately 45 billion USD).

The report shows that the agriculture sector’s GDP growth in 2023-24 was 3.30%, slightly higher than the preliminary estimate of 3.21%. However, this marks a decrease from the 3.37% growth rate recorded in the final figures for the 2022-23 fiscal year.

In the industrial sector, the final GDP growth for 2023-24 was 3.51%, a significant drop from the preliminary estimate of 6.66%. The final growth rate for the industrial sector in the 2022-23 fiscal year was 8.37%, and in 2021-22, it was 9.86%.

In the services sector, the GDP growth for 2023-24 was 5.09%, slightly lower than the preliminary estimate of 5.80% . For the 2022-23 fiscal year, the final GDP growth in the services sector was 5.37%, and in 2021-22, it was 6.26%.