Industrial Production Growth Dips to 6.66%

Published On May 30, 2024
12:14 pm

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Industry: Heavy Industry

Industrial production in Bangladesh is decreasing at an alarming rate, impacting investment, employment, and the overall economy. Additional pressures from government import controls and hikes in gas and electricity prices have exacerbated the situation. The import of capital machinery, raw materials, and intermediate goods has significantly decreased, negatively affecting industrial production and employment.

According to the Bangladesh Bureau of Statistics (BBS), industrial production growth slowed to 6.66 % in the current fiscal year, the lowest since the COVID-19 pandemic onset, down from 8.37 % last year. The investment-to-GDP ratio increased slightly to 30.98 %, but private sector investment fell to 23.51 % of GDP, the lowest in nine years. The Bangladesh Bank reported a 15.5 % decrease in overall imports for the July-March period of the 2022-23 financial year compared to the previous year, further straining the industrial sector.

Source for more details:

Kaler Kantho

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