Bangladesh Sees a Rise in GDP by 6.94% in 2020-21 Fiscal Year

Bangladesh Sees a Rise in GDP

The gross national income per capita (GDP) of Bangladesh has gone up by 6.94 percent in the fiscal year 2020-2021(July 2020-June 2021) which is the highest in the Asian region. With the covid outbreak affecting the overall economy worldwide, Bangladesh has surprisingly experienced this growth exceeding the government’s provisional estimate of 5.43 per cent for the last fiscal year, Xinhua news agency reported.

On 8th Feb 2022,Tuesday The Bangladeshi Planning Minister M.A. Mannan announced the gross domestic product (GDP) data released by the Bangladesh Bureau of Statistics. According to the report, in the last fiscal year (July 2019 – June 2020) the gross domestic product (GDP) per capita in Bangladesh was $2326 which has now risen to $2591. The Minister further mentioned that the actual size of the country’s GDP expanded to $416 billion last fiscal year.

The Wall Street Journal published an article earlier last year titled “Bangladesh is Becoming South Asia’s Economic Bull Case”, Despite the pandemic, the government of Bangladesh, led by the outstanding leadership of the Hon’ble Prime Minister Sheikh Hasina, has been able to maintain the economic stability of the country and taken it to new heights. With the improvement in both services and manufacturing sectors Bangladesh’s economy is showing a sign of recovery.

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