Bangladesh’s economic growth rebounded to 6.12% in the third quarter of the just-concluded fiscal year, according to official data from the Bangladesh Bureau of Statistics (BBS).

This rebound, seen in the January-March period, follows a significant decline to 3.78% in the preceding quarter (October-December). The Q1 growth rate for the fiscal year, spanning July-September, was 6.01%.

This recovery marks a notable improvement compared to the same period in the previous fiscal year (FY2023), where GDP growth had plummeted to 2.3%. The BBS also released provisional annual GDP data for FY2023-24, estimating a growth rate of 5.82%, slightly higher than the previous year’s 5.78%.

At current prices, the GDP for Q3FY2024 reached Tk 13.478 trillion, up from Tk 13.099 trillion in Q1 and Tk 11.875 trillion in Q2.

The industrial sector, which constitutes 40.42% of GDP, saw a significant increase in growth, reaching 7.03% in Q3 of FY2024, compared to 4.98% a year earlier. The agriculture sector also showed marked improvement, growing by 5.46% in Q3 from a mere 1.88% in the same period last year. The services sector, contributing 50.23% to GDP, expanded by 4.97% in January-March, up from 1.47% in the previous year.