Written by The Banking Post
Bangladesh’s economic landscape is undergoing a structural shift, with growth in economic units slowing and the share of manufacturing declining significantly over the past decade, according to the latest Economic Census 2024.
Data from the Bangladesh Bureau of Statistics shows the total number of economic units rose by 51.9 per cent to 11.88 million since 2013—far below the 110.85 per cent growth recorded in the previous decade.
The সবচেয়ে notable change is the decline in manufacturing. Its share dropped from 11.54 per cent in 2013 to 8.77 per cent in 2024, indicating a shift away from industrial activity. Economists view this trend as unusual for a developing economy aiming to advance through industrialisation.
In contrast, the service sector has expanded rapidly, now accounting for 91.23 per cent of all economic units, or about 10.83 million. This dominance highlights a growing reliance on services rather than production-based industries.
The census also underscores the continued importance of rural Bangladesh, where 70.27 per cent of economic units are located. তবে, urban areas are gaining ground in employment, with their share rising to 43.18 per cent in 2024.
Overall employment in economic activities reached 30.76 million. However, female participation declined slightly, with women accounting for 6.4 per cent of the workforce, down from 7.21 per cent in 2013.
The findings point to a changing economic structure, where slower growth and a tilt toward services may pose challenges for long-term industrial development and job creation.
