Bangladesh's GDP base year updated from 2005-06 to 2015-16

26 Nov '21

2 min read

Pic: Diony Teixeira | Dreamstime.com

The size of Bangladesh’s gross domestic product (GDP) in fiscal 2020-21 (FY21) stood at Tk 34,840 billion at current prices as per the new base year of 2015-16. The Bangladesh Bureau of Statistics (BBS) has already completed the work to update the GDP base year from 2005-06 to 2015-16. The GDP growth was recorded 5.43 per cent in the last fiscal, BBS data showed.

According to BBS provisional estimates, the country’s per capita income in FY21 stood at $2,554 or Tk 2,16,589, which was $2,326 or Tk 1,97,199 in FY20, according to the fresh base year.

Planning minister MA Mannan recently said newer areas had been brought under the calculation according to the new base year. “As a result, the overall GDP size has increased as well as the per capita income,” he added.

He said that foreign currency reserves were hovering at $50 billion, while the literacy rate for those above 15 years stood at 75.2 per cent. The poverty rate, however, is still at 20.5 per cent, while life expectancy stood at 72.8 years.

The minister informed that the GDP growth rate in FY21 reached 5.43 per cent, which was the highest in the South Asian region despite the pandemic.

As per the fresh base year, the country’s investment ratio to GDP stood at 30.76 per cent, while the national savings ratio to GDP at 32.15 per cent.

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