Bangladesh Economic Review 2023

CHAPTER TWO
GDP, SAVINGS AND INVESTMENT

The Bangladesh economy has been showing sustainable recovery from the impact of the global coronavirus
pandemic. The GDP growth experienced a sharp fall at 3.45 percent in FY 2019-20 from 7.88 percent
growth of pre-pandemic year. However, GDP growth rebounded and stood at 6.94 percent in FY 2020-21
and 7.10 percent in FY 2021-22. But due to Russia-Ukraine crisis, the economic growth in FY 2022-23 has
been hampered. According to the provisional estimate of BBS, the GDP growth is expected to be 6.03
percent in FY 2022-23. During the period, the per capita GDP and GNI stood at US$ 2,657 and US$ 2,765
respectively. The per capita GDP and GNI of the previous fiscal year were US$ 2,687 and US$ 2,793
respectively. The growth of agriculture sector was 3.17 percent in FY 2020-21, which stood at 3.05 percent
in FY 2021-22. According to the provisional estimate, the growth of the agriculture sector will stand at 2.61
percent in FY 2022-23. In FY 2020-21, the growth of the industry sector was 10.29 percent, which declined
to 9.86 percent in FY 2021-22. The growth of the industry sector is estimated at 8.18 percent in current
fiscal year. According to the provisional data, in FY 2022-23, growth in broad service sector has been
decreased to 5.84 percent as compared to 6.26 percent in the FY 2021-22. The sectoral share of broad
agriculture, industry and service stood at 11.20 percent, 37.56 percent and 51.24 percent respectively in FY
2022-23; which were 11.61 percent, 36.92 percent and 51.48 percent respectively in previous fiscal year. In
demand side, the consumption expenditure stood at 73.98 percent in FY 2022-23, with significant
contribution of private sector. Gross domestic savings increased to 26.02 percent of GDP in FY 2022-23,
from 25.22 percent a year earlier. Similarly gross national savings as percent of GDP increased to 30.22
percent in FY 2022-23 from 29.35 percent in FY 2021-22. On the other hand, investment-GDP ratio slightly
decreased to 31.25 percent in FY 2022-23 from 32.05 percent in previous fiscal year.

(US$ 454 Billion) in FY 2022-23, up by 11.77

Economic Growth
percent of the previous fiscal year.
The Bangladesh economy has been able to
The per capita GDP increased to Tk. 2,59,919 in
recover from the adverse effects of coronavirus
FY 2022-23 which was Tk. 2,31,861 in previous
pandemic. Before pandemic, the GDP growth
fiscal year. On the other hand, per capita national
was 7.88 percent in FY 2018-19 which fall to
income in FY 2022-23 stood at Tk. 2,70,414 up
3.45 percent in FY 2019-20. GDP growth has
from Tk. 2,41,047 in the previous fiscal year. In
been rebounded and stood at 6.94 percent in FY
US dollar, per capita GDP and GNI stood at US$
2020-21 and 7.10 percent in FY 2021-22. But,
2,657 and US$ 2,765 respectively in FY 2022-23
due to Russia-Ukraine crisis, the economic
compared to US$ 2,687 and US$ 2,793
growth in FY 2022-23 has been hampered.
respectively in FY 2021-22. Table 2.1 shows
According to the provisional estimate of BBS,
GDP, GNI, per capita GDP and national income
the GDP growth is expected to be 6.03 percent in
during the period from FY2015-16 to FY 2022-
FY 2022-23.
23.
Gross Domestic Product (GDP) at Current
Prices
According to the provisional data of BBS, GDP
at current market prices is Tk. 44,39,273 crore

Chapter 2-GDP, Savings and Investment | 9

Bangladesh Economic Review 2023

Table 2.1: GDP, GNI, Per Capita GDP and GNI at Current Market Prices

Item 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23*

GDP (In Crore Tk.) 2075821 2324307 2639248 2951429 3170469 3530185 3971716 4439273

GNI (In Crore Tk.) 2173075 2404557 2744791 3072323 3301701 3715997 4129062 4618529

Population (In crore) 15.99 16.18 16.37 16.56 16.74 16.91 17.13 17.07

Per Capita GDP (In Tk.) 129828 143698 161274 178280 189361 208751 231861 259919

Per Capita GNI (In Tk.) 135911 148659 167723 185583 197199 219738 241047 270414

Per Capita GDP (In US$) 1659 1816 1964 2122 2234 2462 2687 2657

Per Capita GNI (In US$) 1737 1879 2043 2209 2326 2591 2793 2765

Source: Bangladesh Bureau of Statistics (BBS) (*Provisional)

Method of GDP Estimation manufacturing, (iii) electricity, gas and water

supply and (iv) construction sector. The broad
Bangladesh Bureau of Statistics (BBS) is the
service sector includes the collective outputs of
organsation responsible for estimating GDP in
the, (i) wholesale and retail trade; repair of motor
Bangladesh. Following the internationally agreed
vehicles, motor cycles and personal and
System of National Accounts (SNA) framework,
household goods, (ii) hotels and restaurants, (iii)
various countries estimate GDP. Three
transport, storage and communication, (iv)
methods/approaches are used to calculate GDP:
financial intermediations, (v) real estate, renting
(i) production approach, (ii) income approach
and business activities, (vi) public administration
and (iii) expenditure approach. However,
and defense, (vii) education, (viii) health and
Bangladesh prepares GDP based on production
social work and (ix) community, social and
and expenditure approach.
personal services.
Production based estimate of GDP encompasses
In 2015-16 base year BBS restructured some of
3 broad sectors which are agriculture, industry
the existing sectors and includes new sectors for
and service. Moreover, overall GDP was consist
estimating the value addition of the new base
of 15 sectors in 2005-06 base year. Among these
year (2015-16) GDP. Currently, the total number
15 sectors. the broad agriculture sector consists
of sector in GDP is 19. The value addition of
of two sectors namely, (i) agriculture and forestry
GDP by sectors at current market prices has
and (ii) fishing. Similarly, the broad industry
shown in Table 2.2.
sector comprises (i) mining and quarrying, (ii)

Chapter 2-GDP, Savings and Investment | 10

Bangladesh Economic Review 2023

Table 2.2: Gross Domestic Product (GDP) at Current Market Prices

(In Crore Taka)

Industrial origin sector 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-
23*
A. Agriculture 279505 301167 329380 353443 380446 410661 445531 486315
1. Agriculture, forestry and 279505 301167 329380 353443 380446 410661 445531 486315
fishing
a) Crops & horticulture 138280 148669 162333 173378 186116 199631 215365 236869
b) Animal Farmings 46655 49516 53186 56290 59715 63293 67399 73571
c) Forest and related services 37188 39864 43563 46639 50399 55916 63748 68204
d) Fishing 57382 63118 70298 77136 84216 91822 99020 107672
B. Industry 644940 726306 844106 969620 1043451 1176120 1347209 1519488
2. Mining and quarrying 33053 39984 44276 52610 55224 59102 58916 62943
a) Natural gas and crude 11478 11807 11969 12054 11621 11743 11494 11705
petroleum
b) Other mining & coal 21575 28177 32307 40556 43603 47359 47423 51238
3. Manufacturing 422387 466606 549024 625937 653064 749659 864437 983113
a) Large Industry 221152 237826 275676 311858 318033 357357 422896 471697
b) Small, Medium and Micro 129108 146724 173858 198066 208696 248999 273587 317583
Industry
c) Cottage Industry 72127 82056 99490 116014 126335 143302 167954 193833
4.Electricity, gas, steam and air 24555 29233 32625 38144 44523 44902 50414 56534
conditioning supply
a) Electricity 18310 22014 24604 30239 36926 37096 42062 47581
b) Gas 6244 7219 8022 7905 7596 7806 8351 8954
5. Water supply; sewerage, waste 2103 2263 2488 2674 2761 2968 3809 4349
management and remediation
activities
6. Construction 162843 188219 215693 250255 287880 319490 369633 412548
C. Services 1062983 1194320 1343117 1500780 1633150 1811038 2027088 2268535
7. Wholesale and retail trade; 288510 324632 373716 418395 445757 497652 567097 640467
repair of motor vehicles and
motorcycles
8. Transportation and storage 158030 178722 197806 219711 232252 256215 285272 314132
a) Land Transport 136942 155313 172635 192706 203898 226881 253429 279553
b) Water transport 12941 14328 15088 15864 16571 17475 18419 19400
c) Air transport 1667 1899 2095 2250 2304 2279 2422 2606
d) Warehousing and support 5539 6165 6877 7667 8156 8141 9445 10804
activities
e) Postal and courier activities 941 1016 1112 1224 1323 1439 1557 1769
9. Accommodation and food 23886 26670 30106 33549 36015 39857 44452 51053
service activities
10. Information and 24834 27264 29461 32204 35107 38448 41422 46934
communication
11. Financial and insurance 65072 72247 81723 93297 103217 115271 129539 146161
activities
a) Monetary intermediation 54996 61018 69326 79417 88044 98457 110878 125290
(Banks)
b) Insurance 6343 6826 7439 8202 8851 9643 10556 11696
c) Other financial auxiliaries 3733 4403 4958 5678 6322 7171 8105 9175
12. Real estate activities 192509 214151 235990 260715 288001 313029 340182 366100
13. Professional, scientific and 3906 4282 4714 5179 5656 6273 6942 7824
technical activities
14. Administrative and support 14244 15722 17269 20017 23005 27138 31136 37868
service activities
15. Public administration and 66730 78463 90249 99006 106965 116996 127366 143717
defence, compulsory social
security
16. Education 54479 60858 68164 76961 85642 95642 109514 126553
17. Human health and social work 54600 63515 73365 86811 101522 118500 138207 159768
activities
18. Arts, entertainment and 3007 3365 3772 4244 4761 5341 6074 6899
recreation
19. Other service activities 113177 124429 136783 150691 165250 180677 199886 221062
Total GVA at current basic 1987428 2221793 2516603 2823843 3057048 3397820 3819829 4274337
price
Growth rate - 11.79 13.27 12.21 8.26 11.15 12.42 11.90
Tax less subsidy 88394 102514 122645 127586 113422 132366 151888 164936
GDP at current market price 2075821 2324307 2639248 2951429 3170469 3530185 3971716 4439273
Growth rate - 11.97 13.55 11.83 7.42 11.35 12.51 11.77
Source: Bangladesh Bureau of Statistics (BBS) (*Provisional).

Chapter 2-GDP, Savings and Investment | 11

Bangladesh Economic Review 2023

and the broad sectoral growth of GDP has been

Growth of GDP by Sectors
shown in Figure 2.1.
The growth rates of GDP by sectors at base price
or constant prices have been shown in Table 2.3

Table 2.3: Sectoral Growth Rate of GDP at Constant Prices

(Base Year: 2015-16) (In Percentage)
Industrial origin sector 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23*
A. Agriculture 3.20 3.54 3.26 3.42 3.17 3.05 2.61
1. Agriculture, forestry and fishing 3.20 3.54 3.26 3.42 3.17 3.05 2.61
a) Crops & horticulture 2.22 2.75 2.07 2.5 2.29 2.61 2.26
b) Animal Farmings 2.77 2.90 3.01 3.19 2.94 3.10 3.23
c) Forest and related services 5.00 5.08 5.13 5.34 4.98 5.08 5.16
d) Fishing 4.73 4.93 4.99 4.4 4.11 2.64 1.14
B. Industry 8.27 10.2 11.63 3.61 10.29 9.86 8.18
2. Mining and quarrying 17.29 9.55 11.31 3.16 6.49 -1.12 5.74
a) Natural gas and crude petroleum -0.34 0.04 -0.57 -4.47 0.32 -4.67 -1.17
b) Other mining & coal 26.67 13.53 15.69 5.58 8.26 -0.17 7.50
3. Manufacturing 7.09 10.45 12.33 1.68 11.59 11.41 9.23
a) Large Industry 4.63 11.08 12.79 0.41 10.61 15.68 8.46
b) Small, Medium and Micro Industry 10.06 11.10 10.61 2.69 13.89 4.84 9.73
c) Cottage Industry 9.29 7.45 14.17 3.67 10.27 11.12 10.69
4.Electricity, gas, steam and air conditioning 7.07 8.27 8.24 0.67 9.54 6.15 4.54
supply
a) Electricity 8.78 10.09 10.22 1.87 11.65 7.75 5.63
b) Gas 2.06 2.60 1.62 -3.68 1.45 -0.61 -0.46
5. Water supply; sewerage, waste 3.63 2.96 6.31 2.18 6.65 9.54 10.02
management and remediation activities
6. Construction 9.76 10.06 10.47 9.13 8.08 8.71 6.41
C. Services 6.37 6.55 6.88 3.93 5.73 6.26 5.84
7. Wholesale and retail trade; repair of motor 8.22 8.74 8.85 3.21 7.64 8.46 6.65
vehicles and motorcycles
8. Transportation and storage 6.13 6.74 7.01 1.73 4.04 5.75 5.99
a) Land Transport 6.53 7.08 7.42 1.74 4.68 6.08 6.46
b) Water transport 1.07 1.55 1.45 0.75 1.80 1.22 -1.78
c) Air transport 12.61 9.78 7.08 1.29 -2.00 3.84 5.12
d) Warehousing and support activities 6.35 9.10 8.76 3.42 -4.99 7.43 9.08
e) Postal and courier activities 3.23 5.44 4.48 2.07 3.34 1.76 4.08
9. Accommodation and food service activities 5.39 5.52 5.64 1.69 4.53 5.37 5.89
10. Information and communication 8.35 6.77 7.36 6.57 7.11 4.79 5.42
11. Financial and insurance activities 5.30 6.94 8.25 4.72 5.82 5.87 5.76
a) Monetary intermediation (Banks) 5.23 7.41 8.62 4.94 5.96 6.09 5.92
b) Insurance 2.07 3.04 4.54 2.16 3.22 3.14 3.86
c) Other financial auxiliaries 11.86 6.46 8.59 5.38 7.48 6.48 6.11
12. Real estate activities 3.33 3.48 3.61 3.68 3.42 3.70 3.87
13. Professional, scientific and technical 3.97 4.08 4.17 3.38 5.09 4.25 4.37
activities
14. Administrative and support service 6.40 7.74 8.17 6.33 6.02 6.01 6.13
activities
15. Public administration and defence; 11.23 8.67 6.49 5.49 6.05 4.91 6.95
compulsory social security
16. Education 5.95 5.89 7.06 5.33 5.81 7.87 6.88
17. Human health and social work activities 10.33 9.20 12.2 10.7 10.6 9.88 8.36
18. Arts, entertainment and recreation 4.98 5.24 5.48 5.43 5.76 6.07 6.36
19. Other service activities 3.14 3.22 3.27 3.06 3.08 3.19 3.27
Total GVA at current basic price 6.54 7.34 8.01 3.76 7.00 7.17 6.33
Tax less subsidy 7.64 6.75 4.94 -3.65 5.33 5.43 -1.75
GDP at constant market price 6.59 7.32 7.88 3.45 6.94 7.10 6.03
Source: Bangladesh Bureau of Statistics (BBS) (*Provisional).

Chapter 2-GDP, Savings and Investment | 12

Bangladesh Economic Review 2023

Figure 2.1: Broad Sectoral GDP Growth at Constant Prices

Agriculture Industry Service GDP

14

12 11.63
10.2 10.29
9.86
10
8.27 8.18
Percent (%)

8 7.88
7.32 6.94 7.1
6.59
6 6.03

4 3.61
3.45
3.2 3.54 3.26 3.42 3.17
2 3.05
2.61
6.37 6.55 6.88 3.93 5.73 6.26 5.84
0
2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23*

(*Provisional.)

Agriculture Sector
lakh MT and marine fish production 7.06 lakh
According to the provisional estimate of BBS, MT) in previous fiscal year.
the growth of agriculture sector stood at 2.61
Industry Sector
percent in FY 2022-23, which was 3.05 percent
in previous fiscal year. During this period among Due to the coronavirus pandemic, industrial
the 4 sub-sectors of broad agriculture sector the production declined sharply in FY 2019-20.
growth rate of crops and horticulture and fishing During the period, growth in the industrial sector
has decreased while the growth rate of animal slowed to 3.61 percent from 11.63 percent in the
farming and forest and related services has previous fiscal year. However, in FY 2020-21,
increased compared to previous fiscal year. the industrial sector has turned around and the
growth of this sector has stood at 10.29 percent.
The food-grain production target (rice, wheat and
But due to the Russia-Ukraine crisis, the growth
maize) in FY 2022-23 has been set at 484.98 lakh
of the industrial sector again declined to 9.86
metric tonnes (MT), which was 458.96 lakh MT
percent in FY 2021-22. As per provisional
in previous fiscal year. Rice production target in
estimate, the growth in the industrial sector will
FY 2022-23 is 415.69 (Aus 36.90, Aman 163.45
stand at 8.18 percent in FY 2022-23.
and Boro 215.34) lakh MT. Besides, wheat
production and maize production target in In FY 2021-22, the growth in the mining and
FY 2022-23 has been set at 11.60 lakh MT and quarrying sector of broad industry sector
57.68 lakh MT. According to the estimate of the contracted by 1.12 percent from 6.49 percent
Department of Fisheries (DoF), the total fish compared to the previous fiscal year. Growth in
production in FY 2022-23 is expected to be 47.81 this sector is provisionally estimated to be 5.74
lakh MT (inland fish production 40.75 lakh MT percent in the current fiscal year. Growth in the
and marine fish production 7.06 lakh MT), which manufacturing sector has decreased from 11.59
was 47.59 lakh MT (inland fish production 40.53 percent in FY 2020-21 to 11.41 percent in FY
Chapter 2-GDP, Savings and Investment | 13
Bangladesh Economic Review 2023

2021-22. According to provisional estimate, the year GDP to 13 sectors in the 2015-16 base year
growth of this sector has declined to 9.23 percent GDP. According to the provisional data, in FY
in FY 2022-23. Among them, growth in large 2022-23 growth rate in broad service sector is
scale industries will be 8.46 percent, growth in decreased by 0.42 percentage point to 5.84
small, medium and micro scale industries will be percent as compared to 6.26 percent in the
9.73 percent and growth in cottage industries will previous fiscal year. Among the sectors the
be 10.69 percent. growth of wholesale and retail trade is 6.65
percent, transportation and storage 5.99 percent,
According to the ‘Index of Industrial Production
accommodation and food service activities 5.89
of Manufacturing on Large Scale’ (Base Year:
percent, information and communication 5.42
2015-16), the average general index of industrial
percent, financial and insurance activities 5.76
production (large scale manufacturing ) increased
percent, education 6.88 percent and human health
by 0.25 percent to 189.26 point during July-
and social work activities 8.36 percent.
October of FY 2022-23 over that of FY 2021-22.
During the period, the growth in the indices for Sectoral Shares in GDP at Constant Prices
garments, textile and leather and leather product
According to provisional data, the share of the
are (-)1.28 percent, 8.00 percent and 59.16
agriculture sector in GDP at constant prices stood
percent respectively. In addition, according to the
at 11.20 percent in FY 2022-23, from 11.61
‘Index of Industrial Production of Manufacturing
percent in FY 2021-22. During FY 2022-23,
on SMMe Scale’ (Base Year: 2015-16), the
within the broad industry sector, contribution of
average general index of industrial
‘manufacturing’ sector and ‘construction’ sector
production(Small, Medium and Micro
increased to 24.95 percent and 9.55 percent
manufacturing) increased by 8.27 percent to
respectively, which was 24.29 percent and 9.54
196.90 point during July-October of FY 2022-23
percent in the previous fiscal year. The share of
over that of FY 2021-22. During the period, the
broad industry sector reached 37.56 percent in
growth in the indices for garments, textile and
FY 2022-23 from 36.92 percent in FY 2021-22.
leather and leather product are 22.70 percent, (-)
In FY 2022-23, the share of broad service sector
1.73 percent and 11.24 percent respectively.
in GDP stood at 51.24 percent, from 51.48
Among the sectors of broad industry sector, the percent in previous year. Within the broad
growth rate of ‘electricity, gas steam and air service sector, the contribution of wholesale and
conditioner’ will be 4.54 percent in the current retail trade sector (15.29%) was the highest. Also
fiscal year, but the growth of this sector was 6.15 real estate activities (7.93%) was the second
percent in the previous fiscal year. On the other highest and transport and storage was (7.32%)
hand, the growth rate of the construction sector in the third highest contributors of GDP. Next
FY 2021-22 increased to 8.71 percent from 8.08 positions are public administration and defence
percent in FY 2020-21. It is estimated that the (3.47%), human health and social work activities
growth of this sector will be decreased and it will (3.46%) and financial and insurance activities
be 6.41 percent in the current fiscal year. (3.17%). Table 2.4 shows the sectoral share of
GDP at constant prices during FY 2015-16 to FY
Service Sector
2022-23.
The number of sectors in the broad service sector
has increased from 9 sectors in the 2005-06 base

Chapter 2-GDP, Savings and Investment | 14

Bangladesh Economic Review 2023

Table 2.4: Sectoral Share of GDP at Constant Prices

(Base Year: 2015-16) (In percentage)
Industrial origin sector 2022-
2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
23*
A. Agriculture 14.06 13.62 13.14 12.56 12.52 12.07 11.61 11.20
1. Agriculture, forestry and fishing 14.06 13.62 13.14 12.56 12.52 12.07 11.61 11.20
a) Crops & horticulture 6.96 6.68 6.39 6.04 5.96 5.70 5.46 5.25
b) Animal Farmings 2.35 2.26 2.17 2.07 2.06 1.98 1.91 1.85
c) Forest and related services 1.87 1.84 1.81 1.76 1.78 1.75 1.72 1.70
d) Fishing 2.89 2.84 2.77 2.70 2.71 2.64 2.53 2.41
B. Industry 32.45 32.98 33.85 34.99 34.94 36.01 36.92 37.65
2. Mining and quarrying 1.66 1.83 1.87 1.93 1.91 1.91 1.76 1.75
a) Natural gas and crude petroleum 0.58 0.54 0.50 0.46 0.43 0.40 0.36 0.33
b) Other mining & coal 1.09 1.29 1.36 1.46 1.49 1.51 1.40 1.42
3. Manufacturing 21.25 21.36 21.98 22.86 22.40 23.36 24.29 24.95
a) Large Industry 11.13 10.93 11.31 11.81 11.43 11.81 12.75 13.01
b) Small, Medium and Micro
6.50 6.71 6.95 7.11 7.04 7.49 7.33 7.57
Industry
c) Cottage Industry 3.63 3.72 3.73 3.94 3.94 4.06 4.21 4.38
4.Electricity, gas, steam and air
1.24 1.24 1.25 1.26 1.22 1.25 1.23 1.21
conditioning supply
a) Electricity 0.92 0.94 0.96 0.98 0.97 1.01 1.01 1.01
b) Gas 0.31 0.30 0.29 0.27 0.25 0.24 0.22 0.21
5. Water supply; sewerage, waste 0.10
management and remediation 0.11 0.10 0.10 0.10 0.10 0.10 0.10
activities
6. Construction 8.19 8.44 8.65 8.85 9.31 9.40 9.54 9.55
C. Services 53.49 53.40 53.01 52.45 52.54 51.92 51.48 51.24
7. Wholesale and retail trade; repair 15.29
14.52 14.52 14.75 14.94 15.05 15.06 15.24
of motor vehicles and motorcycles
8. Transportation and storage 7.95 7.92 7.88 7.80 7.65 7.44 7.34 7.32
a) Land Transport 6.89 6.89 6.87 6.84 6.70 6.56 6.49 6.50
b) Water transport 0.65 0.62 0.58 0.55 0.53 0.51 0.48 0.44
c) Air transport 0.08 0.09 0.09 0.09 0.09 0.08 0.08 0.08
d) Warehousing and support 0.26
0.28 0.28 0.28 0.28 0.28 0.25 0.25
activities
e) Postal and courier activities 0.05 0.05 0.05 0.04 0.04 0.04 0.04 0.04
9. Accommodation and food service 1.07
1.20 1.19 1.17 1.14 1.12 1.09 1.08
activities
10. Information and communication 1.25 1.27 1.26 1.26 1.29 1.29 1.26 1.25
11. Financial and insurance activities 3.27 3.24 3.22 3.23 3.26 3.22 3.19 3.17
a) Monetary intermediation 2.72
2.77 2.73 2.73 2.75 2.78 2.75 2.73
(Banks)
b) Insurance 0.32 0.31 0.29 0.28 0.28 0.27 0.26 0.25
c) Other financial auxiliaries 0.19 0.20 0.20 0.20 0.20 0.20 0.20 0.20
12. Real estate activities 9.69 9.39 9.06 8.69 8.68 8.39 8.12 7.93
13. Professional, scientific and 0.17
0.20 0.19 0.19 0.18 0.18 0.18 0.17
technical activities
14. Administrative and support 0.72
0.72 0.72 0.72 0.72 0.74 0.73 0.72
service activities
15. Public administration and 3.47
0.36 3.51 3.55 3.50 3.56 3.52 3.45
defence; compulsory social security
16. Education 2.74 2.73 2.69 2.67 2.71 2.68 2.69 2.71
17. Human health and social work 3.46
2.75 2.84 2.89 3.01 3.21 3.32 3.40
activities
18. Arts, entertainment and 0.14
0.15 0.15 0.15 0.14 0.15 0.14 0.14
recreation
19. Other service activities 5.69 5.51 5.30 5.07 5.03 4.85 4.67 4.54
Total GVA at constant basic
100.00 100.00 100.00 100.00 100.00 100.00 100.00
price 100.00
Source: Bangladesh Bureau of Statistics (BBS) (*Provisional).
change of agriculture sector to industry sector in
The structural changes of contribution of broad
GDP continues in FY 2022-23. Figure 2.2 shows
sectors in GDP are shown in the Table 2.5 and
that contribution of service sector was nearly 50
Figure 2.2. Table 2.5 indicates that the structural

Chapter 2-GDP, Savings and Investment | 15

 Bangladesh Economic Review 2023

percent of GDP before FY 2005-06. Contribution 06. In recent time this contribution is near about
of this sector rose at 55.59 percent in FY 2005- 51 to 53 percent.

Table 2.5: Trend of Structural Transformation of Broad Sectoral Shares in GDP and Growth Rate
at Constant Prices
Share (in percent)

Sector
1985-86 1990-91 1995-96 2000-01 2005-06 2010-11 2013-14 2014-15 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23*
Agriculture
31.15 29.23 25.68 25.03 19.01 18.01 16.50 16.00 13.62 13.14 12.56 12.52 12.07 11.61 11.20

Industry
19.13 21.04 24.87 26.20 25.40 27.38 29.55 30.42 32.98 33.85 34.99 34.94 36.01 36.92 37.56

Service
49.73 49.73 49.45 48.77 55.59 54.61 53.15 53.58 53.40 53.01 52.45 52.54 51.92 51.48 51.24
Total
100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Growth (in percent)

Agriculture
3.31 2.23 3.10 3.14 5.50 4.46 4.37 3.33 3.20 3.54 3.26 3.42 3.17 3.05 2.61

Industry
6.72 4.57 6.98 7.45 9.80 9.02 8.16 9.67 8.27 10.20 11.63 3.61 10.29 9.86 8.18
Service
4.10 3.28 3.96 5.53 6.60 6.22 5.62 5.80 6.37 6.55 6.88 3.93 5.73 6.26 5.84

GDP
(At
producer
prices) 3.34 3.24 4.47 5.41 7.18 6.64 6.15 6.54 6.54 7.34 8.01 3.76 7.00 7.17 6.33

Source: Bangladesh Bureau of Statistics (BBS) *Provisional

Note: Data up to FY2000-01 are based on FY 1915-96, data from FY 1996-97 to FY 2014-15 are based on 2005-16 and data since FY 2016-17
are based on FY 2015-16.

Figure 2.2: Share of three Major Sectors in the Last More than three Decades at Constant Prices.

100

80
49.73 49.45 48.77 55.59 54.61 53.15 53.58 53.4 53.01 52.45 52.54 51.92 51.24
Percent (%)

60

4019.13 21.04 24.87 26.2

25.4 27.38 29.55 30.42 32.98 33.85 34.99 34.94 36.01 36.92 37.56
2031.15
29.23 25.68 25.03
19.01 18.01 16.5 16 13.62 13.14 12.56 12.52 12.07 11.61 11.2
0

Agriculture Industry Service

*Provisional

Chapter 2-GDP, Savings and Investment | 16

Bangladesh Economic Review 2023

Expenditure Based GDP percent in FY 2021-22, with a significant

contribution of private sector. On the other hand,
The scenario of consumption, savings,
gross domestic saving increased to 26.02 percent
investments and expenditure is presented in
of GDP in FY 2022-23; which was 25.22 percent
Table 2.6, Table 2.7 and figure 2.3. According to
in preceding fiscal year. Moreover national
the provisional data on the expenditure side,
saving also increased to 30.22 percent in FY
consumption decreased to 73.98 percent of GDP
2022-23 from 29.35 percent in FY 2021-22.
in FY 2022-23 from 74.78
Table: 2.6: Expenditure Based Gross Domestic Product at Current Prices
(In crore Taka.)
Item 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23*
1. Domestic Demand 2137463 2414516 2781013 3108721 3304591 3730591 4242702 4671496
[(2)+(3)]
2. Consumption 1509739 1695216 1941136 2157955 2311982 2635572 2969875 3284047
i. Private 1387986 1555239 1783859 1973840 2122667 2427900 2743527 3028854
ii. Public 121753 139978 157277 184116 189315 207672 226348 255193
3. Investment 627723 719300 839877 950765 992609 1095019 1272827 1387450
i. Private 492056 549942 658334 745228 761407 836682 973671 1049643
ii. Public 135668 169358 181542 205538 231202 258337 299156 337806
4. Net Export -72482 -101345 -189104 -159039 -170757 -225877 -318354 -255428
5. Gross Domestic 2064980 2313171 2591909 2949682 3133834 3504714 3924348 4416069
Expenditure (GDE)
6. Gross Domestic 2075821 2324307 2639248 2951429 3170469 3530185 3971716 4439273
Product
(GDP)
7. Statistical Discrepancy 10841 11136 47339 1747 36636 25471 47368 23205
Source: Bangladesh Bureau of Statistics (BBS) (*Provisional).
decreased to 23.64 percent of GDP compared to
Investment (Gross Fixed Capital Formation)
24.52 percent of previous fiscal year. The public
increased by 1.03 percentage points to 32.05
sector investment rises to 7.61 percent of GDP
percent of GDP in FY 2021-22, compared to the
from 7.53 percent compared to the previous fiscal
investment of 31.02 percent in FY 2020-21.
year. In absolute term, amount of investment
According to provisional estimate, the total
stood at Tk. 13,87,450 crore in FY 2022-23, up
investment stood 31.25 percent of GDP in FY
by 9 percent from Tk. 12,72,827 crore in the
2022-23. Of them private sector investment
previous fiscal year.

Chapter 2-GDP, Savings and Investment | 17

Bangladesh Economic Review 2023

Table: 2.7: Consumption, Savings and Investment (As percent of GDP)

Item 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23*

1. Consumption 72.73 72.93 73.55 73.12 72.92 74.66 74.78 73.98
i. Private 66.86 66.91 67.59 66.88 66.95 68.78 69.08 68.23
ii. Public 5.87 6.02 5.96 6.24 5.97 5.88 5.70 5.75
2. Investment 30.24 30.95 31.82 32.21 31.31 31.02 32.05 31.25
i. Private 23.70 23.66 24.94 25.25 24.02 23.70 24.52 23.64
ii. Public 6.54 7.29 6.88 6.96 7.29 7.32 7.53 7.61
3. Domestic 27.27 27.07 26.45 26.88 27.08 25.34 25.22 26.02
Savings
4. National Savings 32.11 30.71 30.61 31.14 31.42 30.79 29.35 30.22
Source: Bangladesh Bureau of Statistics (BBS) (*Provisional).

Figure 2.3: Trend of Investment, Domestic Savings and National Savings as percent of GDP

Investment Domestic Savings National Seavings

32.21
32.11

32.05
34
31.82

31.42
31.31

31.25
31.14

31.02
30.95

30.79
30.71

30.61
30.24

30.22
32

29.35
Percent of GDP (%)

30
27.27

27.08
27.07

26.88
26.45

26.02
28
25.34

25.22
26

24

22

20
2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23*
(*Provisional).

Chapter 2-GDP, Savings and Investment | 18