GDP sectoral growth fares well in current fiscal year

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UNB, Dhaka :The provisional sectoral GDP growth at the constant price of manufacturing sector, including large and medium-scale and small-scale industries, fared much better than other sectors in the current fiscal year (FY15) posting 10.32 percent compared to 8.77 percent in the previous fiscal year (FY14).The provisional GDP growth for the current fiscal year reached 6.51 percent at constant prices despite the economic losses due to the hartals and blockades enforced by the BNP-led 20-party alliance.Talking to UNB, a highly placed source at the Planning Ministry said most key sectors except agriculture and forestry as well as transport, storage and communication registered a positive growth as per the provisional figures revealed by the Bangladesh Bureau of Statistics (BBS).The financial intermediations sector, including banks, insurance and other financial auxiliaries also notched a growth of 8.83 percent in the current fiscal year compared to 7.27 percent in the previous fiscal year.The BBS provisional figures also showed that the fishing sector posted a growth of 6.41 percent in the current fiscal year compared to 6.36 percent in the previous fiscal, the mining and quarrying sector witnessed a growth of 7.48 percent compared to 4.68 percent in the previous fiscal year.The Planning Ministry official also said electricity, gas and water supply sectors enjoyed a growth of 7.01 percent in this year, up from 4.54 percent in the previous fiscal year. The construction sector also experienced a growth of 8.63 percent up from 8.08 percent in the previous year, hotel and restaurant sectors 6.85 percent in the current fiscal, up from 6.70 percent in the previous fiscal.The real estate, renting and business activities maintained their higher growth in the current fiscal year with 4.66 percent up from 4.25 percent in the previous fiscal, the public administration and defense sector with 7.48 percent, up 6.89 percent from the previous fiscal year, the education sector with 7.62 percent compared with 7.26 percent growth in the previous year, health and social works sector witnessed 5.69 percent growth up from 5.06 percent growth in the previous fiscal, community, social and personal services sector gained 3.36 percent growth, up from 3.27 percent growth in the previous year.The growth of the agriculture and forestry sector witnessed a growth of 2.07 percent down from 3.81 percent from the previous fiscal year. The transport, storage and communication sector registered 5.99 percent growth slightly down from 6.05 percent in the previous fiscal year.

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