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Bangladesh’s economy recorded a sharp acceleration in growth during the April-June quarter, supported by a strong recovery in industrial activity and steady expansion in the services sector, even as agriculture lost momentum.
Gross domestic product (GDP) increased 4.60% year-over-year in the June quarter, according to data released Wednesday by the Bangladesh Bureau of Statistics. The latest figure marked a significant improvement from the 2.05% economic growth recorded during the same period a year earlier.
Industrial activity emerged as the main driver of Bangladesh’s stronger economic performance. The industrial sector expanded 6.52% during the quarter, a substantial rebound from growth of just 0.92% in the comparable period last year. The improvement highlights a renewed contribution from industry to the country’s overall economic expansion.
Bangladesh’s services sector also maintained solid momentum. Services, which account for approximately 53% of the country’s total economic output, grew 4.28% year-over-year. That was nearly double the 2.26% expansion registered during the same quarter of the previous year, providing another important boost to GDP growth.
Agriculture, however, remained a weaker part of the economic picture. Growth in the farm sector slowed to 1.73% from 3.19% a year earlier, highlighting continued pressure on an industry that remains important to rural employment and economic activity.
The latest Bangladesh GDP data suggest that stronger industrial production and services activity are helping improve the country’s overall growth trajectory despite softer agricultural output.
Investors and policymakers will now be watching whether the industrial rebound can continue in coming quarters. Sustained growth in manufacturing and other industrial activities could help Bangladesh maintain stronger economic momentum, particularly if agriculture continues to face challenges. The performance of the services sector will also remain crucial given its large share of the economy.
