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FY15 records highest GDP growth in 8 years

Bangladesh has registered 6.55% GDP growth in the last fiscal 2014-15, which is the highest in last eight years, despite fears of growth setback against the backdrop of prolonged unrest as the BNP and its allies enforced a violent street campaign at that time , Planning Minister AHM Mustafa Kamal said yesterday. “The GDP growth for the last fiscal year finally reached 6.55 percent from the earlier provisional estimation of 6.51%, buoyed by the healthy export earning and remittance inflow,” he said emerging from an ECNEC meeting NEC-I conference room with Prime Minister Sheikh Hasina in the chair. He said the final calculation of the GDP growth appeared 0.04% higher than the provisional estimation of 6.51% that was announced in April last year, reports BSS. “There were turmoil from January-March last year, but the economic activities did not remain stopped for a single day during that period and the supply chain was not disrupted during that time,” Kamal said. He said the provisional estimation of 6.51% for FY15 was made in April last year, adding that “there is no force in the world which could say that there is any kind of engineering in this final estimation process”. Bangladesh witnessed a healthy 7.06% GDP growth in fiscal year 2006-2007. About the per capita income, Mustafa Kamal, said that the per capita income would definitely increase, “but in line with the slight GDP growth increase”. As per the provisional estimation, the per capita income in the last fiscal year (FY15) rose to $1314, which was $1190 in the fiscal year (FY14). Kamal expressed his strong resolve that the government would be able to gain 8% GDP growth by FY20. The overall size of the GDP at constant market price for the FY15 stood at Taka 8,248,624 crore which was Taka 7,741,361 crore in the FY14 at constant market price. The last fiscal witnessed 3.33% growth in agriculture sector, 9.67% in the industrial sector and 5.80% in the services sector. The GDP growth rate of the fishing sector in FY15 was 6.38%, in mining and quarrying it was 9.60%, in manufacturing the growth was 10.31%, in electricity, gas and water supply, the growth was 6.22%, the GDP growth in construction was 8.60%.