GDP growth rate 6.94% in FY 2020-21, per capita income $2,591

The gross domestic product (GDP) growth rate of Bangladesh reached 6.94% in fiscal year 2020-2021 while the per capita income increased to $2,591, according to the final report of Bangladesh Bureau of Statistics (BBS).

The information was disclosed at the meeting of the Executive Committee of the National Economic Council (ECNEC) on Tuesday.

"The provisional growth estimation was 5.43 percent, however by the end, it increased by 1.51 percentage points," Planning Minister MA Mannan told media after the ECNEC meeting.

The GDP growth edged down to 30-year-low 3.51% in the fiscal year 2019-20 due to Covid fallout, said BBS final report on 5 August last year. The government's initial estimation was attaining 5.2% growth in that fiscal.

Calling the growth "a miracle" amid the pandemic, the minister said, "It's a miracle that our GDP growth upturned to nearly 7% while many other countries took a hit."

He said that the prime minister is very happy with the achievement and she has dedicated this to the countrymen.

"As per the initial estimation, the size of GDP was $411 billion which later rose to $416 billion," Minister MA Mannan added.

Meanwhile, Bangladesh's per capita income has increased to $2,591 that previously was estimated to be $2,554.

State Minister of Planning Dr Shamsul Alam said, "The growth in national GDP is the proof that our economy has bolstered since we have made progress in sectors like export and remittance."