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Bangladesh hit record 7.86pc GDP growth

18 Sep 2018, 19:15

NTV Online

Dhaka: Bangladesh has posted the highest-ever 7.86 per cent GDP growth in 2017-18 financial year, well surpassing the estimated growth of 7.65 per cent.

The per capita income increased to US$ 1,751 in 2017-18 from US$ 1,610 in the previous fiscal, according to Bangladesh Bureau of Statistics (BBS).

The final figure of economic growth was placed at the meeting of the Executive Committee of the National Economic Council (ECNEC) held in the NEC Conference Room with ECNEC Chairperson and Prime Minister Sheikh Hasina in the chair on Tuesday, reports the UNB.

Planning Minister AHM Mustafa Kamal briefed reporters after the meeting.

He said, ‘No major natural disaster hit us this year (last fiscal year). We could register this growth for outstanding success in the agriculture sector. Besides, we got good progress in the industrial and power sectors.’

In the last fiscal, the contribution of agriculture to the GDP was 13.82 per cent, while that of industry and services sectors were 30.17 per cent and 56 per cent respectively, said Mustafa Kamal.

The GDP growth was 7.28 per cent in 2016-17 FY, 7.11 per cent in 2015-16 FY and 6.55 per cent in 2014-15 FY.

The Planning Minister said the GDP size increased to Tk 22,505 billion (US$ 274.11 billion) in the 2017-18, a rise from Tk 19,758 billion in 2016-17.

He said the investment to GDP ratio also increased at 31.23 per cent –-7.97 per cent public investment and 23.26 private sector investment-- in the 2017-18 financial year, up from 30.51 per cent in the 2016-17.

The national savings against GDP was 27.42 per cent in the last fiscal year, he added.

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