Bangladesh’s gross domestic product (GDP) growth in the third quarter of the financial year 2023-24 stood at 6.12 percent, according to the Bangladesh Bureau of Statistics (BBS).

The BBS data, released on Tuesday, covered the period from January to March.

In contrast, GDP growth at the end of the second quarter was recorded at 3.78 percent.

It is important to note that the BBS did not account for the correction in export data by the Bangladesh Bank when preparing the third-quarter data.

A senior BBS official stated that the quarterly GDP growth was calculated based on local production, excluding exports and imports.

These factors, along with consumption, are considered in the overall GDP assessment.

Officials mentioned that the correction in export data, amounting to around $14 billion, will be reflected in the final GDP calculation for FY24.

The BBS, which released a provisional GDP growth rate of 5.82 percent in May, will make the final calculation in the December-January period.

As part of the $4.7 billion loan program with the International Monetary Fund, the BBS has been calculating quarterly GDP growth since FY23.

The surge in quarterly GDP growth has been attributed to good performance across all major sectors, including agriculture, industries, and services.

In the agriculture sector, growth reached 5.46 percent in the January-March period, unchanged from the October-December period.

The industrial sector experienced significant growth, jumping to 7.03 percent in January-March from 3.24 percent in October-December.

The services sector also saw an increase, with growth recorded at 4.97 percent in January-March, up from 3.06 percent in the previous quarter.