Nov 24
Retail, wholesale trade contributes 14pc to GDP PDF Print E-mail

The contribution of the retail and wholesale trade, along with motor repair, is estimated to stand at 13.94 per cent of the country’s Gross Domestic Product (GDP) in the ongoing fiscal year (FY17).

The provisional estimation of the Bangladesh Bureau of Statistics (BBS), released last week, also shows that contribution of this sector to GDP actually remained unchanged from the past year.

The ratio of contribution to GDP by the sector was 13.99 per cent in the FY16 at constant price. The value of the output of this service sector is, however, going to increase in the current fiscal year.

The provisional estimation of the BBS put the value at Tk 1268.27 billion in the current fiscal year which was Tk 1186.65 billion in FY16.

The national economic census of 2013, the latest of its kind, shows that there are some 3.58 million economic establishments of wholesale and retail trade, repair of motor vehicles and motorcycles across the country. 

This sector has a direct employment of at least 8.4 million people, according to the economic census.

The wholesale, retail and repair of motor vehicles is considered as the largest service sector of the economy. The sectoral growth rate is also estimated at 6.88 per cent.

(Source - The Financial Express)