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Economic Growth
According to data releasedby BBS Bangladesh achieved 6.71 percent and 6.23 percent GDP
growth in FY 2010-11 and FY 2011-12 respectively. Even after the global financial crisis,
Bangladesh has been able to achieve GDP growth at more than 6 percent on an average.
According to the provisional estimate of BBS, the economy has posted a growth rate of 6.03
percent in FY 2012-13. Moreover, the GDP growth is stillbeing estimated using FY 1995-96 as a
base year. GDP growth will be higher if FY 2005-06 at used as a new base year from the next
fiscal year which includes many new sectorsof the economy.
Gross Domestic Product (GDP) at Current Prices
The provisional value of GDP at current market prices stands at Tk. 10,379,867 crore in FY
2012-13, which was 13.05 percent higher than that of the previous year.At current prices, the
estimated per capita GDP for FY 2012-13 is Tk. 67,577 which has increased by 11.57 percent
from the per capita GDP of Tk. 60,571 in FY 2011-12. On the other hand, per capita national
income stood at Tk. 74,380 which was Tk. 66,463 a year earlier.In US dollar, per capita GNI and
GDP stood at US$ 923 and US$ 838 respectively inFY 2012-13compared to US$ 840 and US$
766 respectively in FY 2011-12.GDP, GNI, per capita GDP and national income during the
period from FY 2006-07 to FY 2012-13 are shown in Table 2.1.
15
Table 2.1: GDP, GNI, Per Capita GDP and GNI at Current Market Prices
Item
GDP (In Crore Tk.)
GNI (In Crore Tk.)
Population (In Crore)
Per Capita GDP (In Tk.)
Per Capita GNI (In Tk.)
Per Capita GDP (In US$)
Per Capita GNI (In US$)
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13*
472477
545822
614795
694324
796704
918141
1037987
507752
594212
670696
758928
869217
1007443
1142479
14.06
14.24
14.42
14.61
14.97
15.16
15.36
33607
38330
42628
47536
53238
60571
67577
36116
41728
46504
51959
58083
66463
74380
487
559
620
687
748
766
838
523
608
Source: Bangladesh Bureau of Statistics (BBS) * Provisional
676
751
816
840
923
The GDP at current market prices by sectors are shown in Table 2.2 below:
Table 2.2: Gross Domestic Product (GDP) at Current Market Prices
(In Crore Taka)
Sector/Sub-sector
1. Agriculture and Forestry
a. Crops & horticulture
b. Animal farming
c. Forest and related services
2. Fishing
3. Mining and Quarrying
a. Natural gas & crude petroleum
b. Other mineral resources
4. Manufacturing
a. Large & medium scale
b. Small scale
5. Electricity, Gas & Water Supply
a. Electricity
b. Gas
c. Water
6. Construction
7. Wholesale and Retail Trade
8. Hotel and Restaurants
9. Transport, Storage & Communication
a. Land transport
b. Water transport
c. Air transport
d. Support transport services, storage
e. Post & telecommunication
10. Financial Intermediations
a. Monetary intermediation(Bank)
b. Insurance
c. Other financial intermediation
11. Real Estate, Renting & other
Business Activities
12. Public Administration and Defense
13. Education
14. Health and Social Work
15. Community, Social and Personal Srvices
Import Duty
GDP at Current Market Price
Growth Rate ( percent)
Source: Bangladesh Bureau of Statistics (BBS)
2006-07
70124
52468
10780
6876
17783
5322
2845
2476
81178
57688
23490
5590
4567
651
372
37543
66011
3289
48908
36853
3307
509
1420
6820
7744
5797
1640
307
34929
2007-08
80201
60578
12118
7505
19790
6152
3164
2988
93901
66759
27142
6070
4955
716
399
43854
78220
3889
56907
42857
3621
546
1569
8314
8955
6656
1930
368
38058
2008-09
89426
67247
14002
8177
21806
7091
3590
3501
106445
75610
30835
6542
5311
793
438
50125
88276
4460
64280
48365
3923
589
1758
9645
10245
7613
2201
431
41616
2009-10
100588
75339
16219
9030
24223
8114
4039
4075
120108
84899
35209
7195
5840
876
479
55658
100295
5150
71880
54159
4214
649
1938
10920
12300
9063
2702
535
45683
2010-11
113582
85238
18470
9874
26996
9063
4262
4801
135551
97121
38430
8211
6775
908
529
63982
115959
5998
85465
66088
4532
722
2070
12053
14484
10621
3231
632
50337
2011-12
125751
93658
21218
10876
31003
10446
4729
5716
155750
112075
43675
9595
8031
966
597
76635
130684
7137
101810
80366
4961
832
2453
13198
17576
12968
3856
752
58949
2012-13*
136987
100834
24169
11985
35672
12413
5536
6877
176030
127196
48834
11169
9433
1075
661
89985
143493
8249
118747
94925
5317
969
2862
14674
20529
15162
4490
877
65653
12743
11776
10307
43568
15662
472477
13.65
* Provisional
14427
13531
11819
50200
11733
545822
15.52
16360
15494
13391
58364
20871
614795
12.64
18757
17908
15142
68466
22853
694324
12.94
22381
21308
17582
77876
27931
796704
14.75
25321
24058
20574
91485
31367
918141
15.24
28428
27936
23580
104100
35016
1037987
13.05
16
2006-07
4.69
4.43
5.49
5.24
4.07
8.33
8.03
8.80
9.72
9.74
9.69
2.10
1.08
7.37
7.08
7.01
8.04
7.52
8.03
2007-08
2.93
2.67
2.44
5.47
4.18
8.94
8.26
10.01
7.21
7.26
7.10
6.77
6.68
7.72
6.00
5.68
6.82
7.55
8.55
2008-09
4.10
4.02
3.48
5.69
4.16
9.84
9.15
10.90
6.68
6.58
6.90
5.91
5.39
8.42
8.39
5.70
6.21
7.58
8.01
2009-10
5.56
6.13
3.38
5.23
4.15
8.80
8.12
9.84
6.50
5.98
7.77
7.28
7.21
7.51
7.77
6.01
5.87
7.61
7.69
2010-11
5.09
5.65
3.48
3.90
5.25
4.80
1.05
10.43
9.45
10.94
5.84
6.63
7.33
0.82
8.99
6.51
6.31
7.55
5.69
2011-12
2.46
1.95
3.39
4.42
5.39
7.79
4.99
11.63
9.37
10.52
6.45
12.03
13.15
4.27
11.54
7.57
5.63
7.58
6.62
2012-13*
1.18
0.15
3.49
4.47
5.52
11.12
10.28
12.21
9.34
10.32
6.76
8.57
8.63
9.16
6.56
8.05
4.69
7.63
6.70
4.18
1.73
2.01
8.93
23.29
9.18
9.34
8.21
11.62
4.54
2.54
6.20
8.45
21.64
8.89
8.38
10.03
12.47
5.17
2.46
7.38
9.64
16.11
8.99
9.05
8.38
11.13
5.98
1.01
9.13
8.15
12.95
11.64
10.47
14.88
16.10
4.13
1.05
8.26
3.50
10.01
9.64
9.04
11.58
10.08
5.5
1.24
13.24
10.66
9.24
11.04
11.33
10.26
9.99
4.82
1.50
14.76
8.41
10.67
8.99
9.27
8.18
8.44
3.76
3.75
8.41
8.96
7.64
6.21
7.80
7.02
3.81
3.89
3.96
4.05
4.07
7.01
8.05
7.20
8.35
9.24
8.10
9.67
9.36
8.35
5.81
7.21
7.91
5.07
9.66
7.51
4.58
4.62
4.70
4.72
4.70
4.76
4.86
6.43
6.19
5.74
6.07
6.71
6.23
6.03
* Provisional
17
Agriculture Sector
In FY 2012-13, the provisional growth rate of broad agriculture sector stood at 2.17 percent
which was 3.11 percent in FY 2011-12.Of this growth performance, the growth of crops and
horticulture sub-sector plunged from 1.95 percent in FY 2011-12 to 0.15 percent in FY 201213.Besides, the estimated total production of cereals (rice, wheat and maize) was 372.66
lakhMetric Tonnes(MT) in FY 2012-13, whichwas increased by 4.27 lakh MTcompared to
368.39 lakh MTof the previous fiscal year.According to provisional data, the production of Amon
andBoroslightly increased to 128.97 lakh MT (0.77 percent), 187.78 lakh MT (0.10 percent) in
FY 2012-13 respectively, while production of wheat and maizeincreased significantly to 12.55
lakh MT (26.13 percent) and 21.78 lakh MT (11.46 percent) respectively compared to what
stood in the previous year. But production of Ausdecreased to 21.58 lakh MT(7.50 percent) in
FY 2012-13 from the previous years production of 23.33 lakh MT.The Government has been
continuing its effort to ensure supply of sufficient fertilizer and irrigation facilities to the farmers.
There has been significant growth in the production of Aus, Boro and Maizebecause of
uninterrupted fertilizer supply, irrigation facilities and favourable weather.
Livestock and forestry sub-sector grew by 3.49 percent and 4.47 percent respectively in FY
2012-13, which were 3.39 and 4.42 percent respectively in the previous fiscal year.The growth
rate of the both Livestock and forestry sub-sector showed consistent increase during this
period.As a result,agriculture and forestry sector grew by 1.18 percent according to the
provisional estimation ofFY 2012-13.
According to the estimate of the Directorate of Fisheries (DOF), the total inland and marine
catches in FY 2012-13 was 33.93 lakh MT where inland and marine catches were 27.79 lakh
MT and 6.14lakh MT respectively. The fisheries sector grew by 5.52 percent in FY 2012-13
compared to that of 5.39 percent in FY 2011-12.
18
Industry Sector
Within the broad industry sector, the provisional growth of mining and quarrying sector was
recorded 11.12 percent in FY 2012-13 which was 7.79 percent in FY 2011-12. In this sector,
natural gas production and crude petroleum grew by 10.28 percent, which was 4.99 percent a
year earlier. The growth rate of other mining and coal sub-sectors stood at 12.21 percent,
whichwas 11.63 percent in the previous fiscal year. Besides, the overallgrowth rate of
manufacturing sector (large, medium and small scale) grew by 9.34 percent in FY 2012-13,
which was 9.37 percent in FY 2011-12. In this sector, the growth rate of large and medium scale
sub-sectorreduced slightly to 10.32 percent from 10.52 percent of the previous year. And small
scale sub-sector grew by 6.76 percent, which was 6.45 percent a year earlier.
According to the provisional estimate of BBS, the Quantum Index of Industrial Production (QIP,
Base year: 1988-89=100), the general index of industrial production (medium and large scale
manufacturing) stood higher at 621.12 in FY2012-13 recording an increase of 8.88 percent over
the preceding year.Indices recording increase in FY2012-13 compared to the preceding year
were: basic metal products;food beverage and tobacco;fabricated metal products;chemical,
petroleum and rubber; non-metallic products and paperand paper products. On the other
handthere was some decrease in indices ofjute,cotton, apparel and leather and woodenproducts
including furniture.Although the Euro zone, Bangladeshs main export destination, experienced
sluggish growth due to sovereign credit crisis, export of Bangladesh remained in the positive
territory.In FY 2012-13, export earnings increased by 11.22 percent compared to the previous
year.
The estimated growth rate of power, gas and water sector was 8.57 percent in FY 2012-13, while
in the previous year it stood at 12.03 percent.In fact, because of the decelerated growth in power
and water sub-sector, the overall growth of this sector has decreased. But, the growth rate of gas
sub-sector stood at 9.16 percent in FY 2012-13, which was4.27 percent of the earlier year.Due to
increasing investment in infrastructure, it was expected that the growth rate in construction sector
would increase to 8.05 percent in FY 2012-13 which was 7.57 percent in the preceding year.
Service Sector
The provisional growth within the broad service sectorrecording increase in FY 2012-13
compared to the preceding year were: hotel and restaurants; transport, storage and
communication; real estate, renting and other business activities; education; community, social
and personal services.On the other hand there was some decrease ingrowth of wholesale and
retail trade; financial intermediations; public administration and defense; health and social
work.According to the provisional data, the output of the wholesale and retail trade was expected
to slide from 5.63 percent of the previous year to 4.69 percent in FY 2012-13. Growth in hotel
and restaurant sector posteda growth of 7.63 percent up from 7.58 percent a year earlier.In
transport, storage and communication sector the growth was estimated at 6.70 percent for FY
19
2012-13, which was 6.62 percent in FY 2011-12. In this sector, air transport and post and
telecommunication sub-sector with an estimated growth of 14.76 percent and 10.67 percent
respectively contributed significantly to GDP.In the previous year, the growth of these two subsectors was estimated at 13.24 and 9.24 percent.Besides, the water transport sub-sector registered
higher growth compared to that of the previous fiscal year.
During FY 2012-13, financial intermediations showed the prospect of an estimated growth rate
of 8.99 percent, which was 11.04 percent in FY 2011-12.All sub-sectorsof financial
intermediations sector were estimated to be declined. The growth rate in the real estate renting
and business activities sector was provisionally estimated at 4.07 percent which was 4.05 percent
in FY 2011-12.Among the other services sectors, the growth rate of public administration and
defense, education, and health and social services were expected to grow at the rate of 5.07
percent, 9.66 percent and 7.51 percent respectively in FY 2012-13. Moreover, community, social
and personal service sector was estimated to grow by 4.86 percent in FY 2012-13, slightly higher
than the growth rate of the previous fiscal year.
Table 2.4: Sectoral Share of GDP (percent) at Constant Prices (Base Year: 1995-96)
(In percentage)
Sector/Sub-sector
1. Agriculture and Forestry
a. Crops & horticulture
b. Animal farming
c. Forest and related services
2. Fishing
3. Mining and Quarrying
a. Natural gas & crude petroleum
b. Other mineral resources
4. Manufacturing
a. Large & medium scale
b. Small scale
5. Electricity, Gas & Water Supply
a. Electricity
b. Gas
c. Water
6. Construction
7. Wholesale and Retail Trade
8. Hotel and Restaurants
9. Transport, Storage & Communication
a. Land transport
b. Water transport
c. Air transport
d. Support transport services, storage
e. Post & telecommunication
10. Financial Intermediations
a. Monetary intermediation(Bank)
b. Insurance
c. Other financial intermediation
11. Real Estate, Renting & other
Business Activities
12. Public Administration and Defense
13. Education
14. Health and Social Work
15. Community, Social and Personal
Services
GDP
Source: Bangladesh Bureau of Statistics,
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13*
16.64
12.00
2.88
1.76
16.18
11.64
2.79
1.75
15.91
11.43
2.73
1.75
15.81
11.42
2.65
1.73
15.58
11.32
2.58
1.69
15.02
10.86
2.51
1.66
14.33
10.25
2.45
1.63
4.73
4.65
4.58
4.49
4.43
4.39
4.37
1.18
0.72
0.46
1.21
0.74
0.47
1.25
0.76
0.50
1.29
0.77
0.51
1.26
0.73
0.53
1.28
0.72
0.56
1.34
0.75
0.59
17.55
12.47
5.08
17.77
12.63
5.14
17.90
12.71
5.18
17.94
12.68
5.26
18.41
13.12
5.22
18.96
13.73
5.23
19.54
14.28
5.27
1.57
1.30
0.19
0.09
1.59
1.31
0.19
0.09
1.59
1.31
0.19
0.09
1.60
1.32
0.20
0.09
1.60
1.33
0.19
0.09
1.69
1.41
0.18
0.09
1.73
1.45
0.19
0.10
9.15
9.13
9.12
9.10
9.09
9.20
9.37
14.24
14.37
14.41
14.36
14.33
14.24
14.05
0.69
0.70
0.71
0.72
0.73
0.74
0.75
10.18
6.50
0.85
0.11
0.32
2.40
1.76
1.31
0.37
0.07
10.44
6.42
0.82
0.11
0.33
2.76
1.81
1.34
0.39
0.07
10.65
6.38
0.79
0.12
0.34
3.02
1.86
1.38
0.40
0.08
10.79
6.36
0.75
0.12
0.35
3.21
1.95
1.44
0.43
0.08
10.70
6.21
0.72
0.12
0.34
3.31
2.01
1.47
0.45
0.09
10.74
6.17
0.68
0.13
0.35
3.41
2.10
1.54
0.46
0.09
10.80
6.10
0.65
0.14
0.36
3.56
2.16
1.59
0.47
0.09
7.64
7.49
7.34
7.18
7.00
6.86
6.73
2.75
2.76
2.78
2.84
2.92
2.91
2.88
2.54
2.58
2.64
2.71
2.78
2.81
2.90
2.29
2.31
2.34
2.38
2.42
2.46
2.49
7.09
7.01
6.93
6.83
6.71
6.62
6.54
100.00
100.00
100.00
100.00
100.00
100.00
100.00
* Provisional
The structural changes of the share of broad sectors in GDP are represented in the Table 2.5 and
graph 2.2. From the table and graph, it would be seen that, over the three decades the share of the
industry sector in GDP increased gradually and continued to increase in FY 2012-13. On the
other hand, the service sector contributed at a similar pace over the period.
Table 2.5: Trend of Structural Transformation of Broad Sectoral Shares in GDP and
Growth Rate at Constant Prices (Base Year: 1995-96)
21
1980-81
1985-86
1990-91
1995-96
2000-01
2005-06
2009-10
2010-11
2011-12
2012-13*
33.07
31.15
29.23
25.68
25.03
21.84
20.29
20.01
19.42
18.70
Industry
17.31
19.13
21.04
24.87
26.20
29.03
29.93
30.38
31.13
31.99
Service
Total
49.62
49.73
49.73
49.45
48.77
49.14
49.78
49.60
49.45
49.30
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
Agriculture
3.31
3.31
2.23
3.10
3.14
4.94
5.24
5.13
3.11
2.17
Industry
Service
5.13
6.72
4.57
6.98
7.45
9.74
6.49
8.20
8.90
8.99
3.55
4.10
3.28
3.96
5.53
6.40
6.47
6.22
5.96
5.73
GDP
(At producer
prices)
3.74
3.34
3.24
4.47
5.41
7.02
6.22
6.59
6.28
6.06
* Provisional
national saving increased in FY 2012-13 because of the high growth of remittance though the
domestic saving remained thesame compared to the previous fiscal year.
Item
1. Domestic Demand [(2)+(3)]
2. Consumption
Public
Private
3. Investment
Public
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
491908
567104
6411311
724282
843400
984978
1116758
376317
434971
491291
554771
643022
741287
8381453
26106
28831
32354
37272
46087
51290
56930
350212
406140
458939
517499
596935
689998
781215
115590
132132
149839
169511
200378
243691
278613
25729
27042
28898
34820
44934
59655
81486
197127
Private
89862
105090
120942
134691
155444
184036
4. Net Export
5. Gross Domestic Expenditure
-32723
-45914
-43803
-45895
-69390
82177
84567
459185
521190
597328
678386
774010
902802
1032191
472477
54583
614795
694324
796704
918141
1037987
24638
17467
15938
22694
15340
5796
7. Statistical Discrepancy
13292
Source: Bangladesh Bureau of Statistics * Provisional
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
79.69
79.91
79.90
80.71
80.74
80.75
5.28
5.26
5.37
5.78
5.59
5.48
74.41
74.65
74.53
74.93
75.15
75.26
24.21
24.37
24.41
25.15
26.54
26.84
4.95
4.70
5.01
5.64
6.50
7.85
19.25
19.67
19.40
19.51
20.04
18.99
20.31
20.09
20.10
19.29
19.26
19.25
30.21
29.57
30.02
28.78
29.18
29.51
23
24