Service’s share in GDP 52.73pc

Dhaka,  Sat,  23 September 2017
Published : 20 May 2017, 11:26:33 | Updated : 20 May 2017, 11:34:22

Service’s contribution to GDP 52.73pc

FE Online Report
The contribution of the overall service sector to the national economy is estimated to decline marginally in the ongoing fiscal year (FY17).

The provisional estimation, recently released by the Bangladesh Bureau of Statistics (BBS), put the contribution at 52.73 per cent in FY17, which was 53.12 per cent in the past fiscal year.

Thus, broader service sector’s contribution to GDP declined for the consecutive fourth year.

According to BBS data, broader service sector contributed 53.95 per cent in FY14, which later dropped to 53.58 per cent.

Provisional estimation of BBS, however, showed that output of the overall service sector jumped to Tk4.79 trillion in the ongoing fiscal year, which was Tk 4.50 trillion in FY16. 

Thus, broader service sector posted around 6.50 per cent growth in the current fiscal year.

There are eight major sectors under the broader service sector. 

These are: wholesale and retail trade; hotel and restaurants; transport, storage and communication; financial intermediations; real estate, renting and business activities; public administration and defence; education; health and social works; and community, social and personal services. 

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