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Bangladesh GDP growth tripled in 10 yrs

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The size of the country’s GDP has tripled in the last 10 years. At the end of the 2019-20 financial year, the size of the Gross Domestic Product (GDP) of Bangladesh, stood at Tk 27.96 trillion.

This calculation of the Bangladesh Bureau of Statistics (BBS) is preliminary. The agency has not yet released the final accounts.

According to the Bangladesh Bureau of Statistics (BBS), after independence in 1972, the size of the GDP of agriculture-oriented Bangladesh was Tk 53 thousand 448 crore. As a result, the size of the GDP has increased 52.31 times.

The size of GDP in 1982 stood at 1 lakh 57 thousand 505 crores. That was almost 3 times increased in 10 years. It stood at Tk 2 lakh 69 thousand 535 crores in 1992 in a span of 10 years. And in 2002 it increased to Tk 4 lakh 65 thousand 120 crores. In 2012, the country’s GDP amounted to Tk 11 lakh 33 thousand 900 crores.

According to BBS, the country’s GDP has grown significantly in the last 10 years. The size of GDP in 2010-11 financial year was Tk 9.16 trillion, Tk 10.55 trillion in 2011-12 financial year, Tk 11.99 trillion in 2012-13 financial year, Tk 13.44 trillion in 2013-14 financial year, Tk 15.16 trillion in 2014-15 financial year, Tk 17.33 trillion in 2015-16 financial year, Tk 19.76 trillion in 2016-17 financial year, Tk 22.51 trillion in 2017-18 financial year and Tk 25.42 trillion in 2018-19 financial year.

A sector-wise review of GDP shows that Bangladesh is moving away from agriculture-based economy to an industry-dependent economy. The share of agriculture in the country’s GDP has been declining for several years.

As of the beginning of the current financial year (current market value), the contribution of this sector is Tk 3 lakh 46 thousand 736 crore. In other words, 13.02 percent of GDP came from this sector. In the previous financial year, agriculture accounted for 13.32 percent of GDP.

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