Bangladesh’s GDP growth has sharply declined in the fourth quarter (April-June) of the last financial year 2023-24, according to the Bangladesh Bureau of Statistics (BBS).

The growth was 3.91 per cent, which was 6.88 per cent in the last quarter of the fiscal year 2022-23.

The BBS released the information on Monday.

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As per the data, the growth in the last quarter of the last financial year has been lower compared to the last quarter of the 2022-23 fiscal year.

According to the calculation of the 4th quarter of the financial year 2023-24, the GDP size at current prices is Tk 13,783,612 million (Tk 13,784 billion) while in the 4th quarter of the financial year 2022-23 it was Tk 12,160,736 million (Tk 12,161 billion).

On the point-to-point basis at constant prices, the growth in the 4th quarter of FY2023-24 was 3.91 percent as against 6.88 percent in the 4th quarter of FY2022-23.

The growth in the first three quarters of FY 2022-23 was 6.25 percent, 7.05 percent and 3.02 percent respectively which in FY 2023-24 stood at 6.04 percent, 4.78 percent and 5.42 percent respectively.

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Agriculture Sector: On a point-to-point basis at constant prices, the agriculture sector grew by 5.27 percent in the 4th quarter of FY2023-24, as against 6.55 per cent in the 4th quarter of FY2022-23.

In the first three quarters of FY 2022-23, the growth of this sector was 0.22 percent, 3.83 percent and 1.92 percent respectively which stood at 0.35 percent, 4.08 percent and 5.16 percent in FY 2023-24 respectively.

Industrial Sector: On a point-to-point basis at constant prices, the industry sector grew at 3.98 percent in the 4th quarter of FY2023-24, as against 10.16 percent in the 4th quarter of FY2022-23.

In the first three quarters of the financial year 2022-23 the growth of this sector was 5.80 percent, 10.55 percent and 6.91 percent respectively which in FY 2023-24 stood at 8.22 percent, 2.91 percent and 6.25 percent respectively.

Services Sector: On a point-to-point basis at constant prices, the service sector grew by 3.67 percent in the 4th quarter of FY2023-24, compared to 4.82 percent in the 4th quarter of FY2022-23.

In the first three quarters of the financial year 2022-23 the growth of this sector was 9.43 percent, 6.37 percent and 1.45 Percent respectively which in FY 2023-24 stood at 5.07 percent, 5.78 percent and 3.81 percent respectively.