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Over the past decade, the manufacturing sector’s contribution to the national economy has declined compared with the previous 10 years, according to the economic census by the Bangladesh Bureau of Statistics (BBS), reports bdnews24.com.
Preliminary findings from the 2024 census reveal that the industrial sector's share in economic activities is now 8.77 per cent, down from 11.54 per cent in 2013.
The national statistical agency released the initial report of the “Economic Census 2024” on Wednesday at its auditorium. The government conducts this census every 10 years.
The survey categorises economic establishments into three groups.
Businesses operating from a fixed address are classified as permanent economic units. Those conducting business temporarily on footpaths or marketplaces are considered temporary or seasonal economic units.
Meanwhile, non-agricultural production and service activities carried out at home are categorised as economic households.
These three types collectively form the country’s economic units.
The report states that Bangladesh currently has 11.88 million economic units, categorised as permanent units - 6.29 million, temporary units - 576,621, and household economic units - 5.01 million
Of these, 29.73 per cent - 3.53 million - are in urban areas, while 70.27 per cent, or 8.35 million, are in rural areas. This indicates that economic activities outside cities significantly outnumber those within urban regions.
The preliminary results of the economic census reveal that a total of 30.76 million people are currently engaged in 11.88 million economic units across the country.
Among them, 25.63 million (83.32 per cent) are men, 5.13 million (16.67 per cent) are women, and 2,059 (0.01 per cent) belong to the Hijra or transgender community.
The data also shows that 23.72 million or 77.10 per cent, people are engaged in permanent economic units, 7.95 million, or 2.58 per cent, in temporary ones, and 6.25 million, or 20.32 per cent, in economic households.
A comparative analysis of the last three economic censuses shows that in 2003, there were 3.71 million economic units, which grew by 110 per cent to 7.82 million in 2013.
The latest data shows that the number of economic units has now reached 11.88 million, marking a 52 per cent growth.
In 2003, 11.27 million people were engaged in economic activities. Over the next 10 years, this increased by 117 per cent, reaching 24.58 million in 2013.
The latest 2024 census reports 30.76 million people engaged in economic activities, reflecting a 25 per cent increase over the last decade.
KEY FINDINGS FROM THE CENSUS
Economic Households on the Rise:
In 2013, there were 2.82 million economic households. By 2024, this number surged to 5.01 million, marking a 77.65 per cent increase. This suggests a significant rise in home-based economic activities over the past decade.
Decline in Women's Employment Rate
In 2024, women make up only 6.4 per cent of the employed workforce, compared to 7.21 per cent in 2013. This indicates a slight decline in women's participation in economic activities.
Boom in the Service Sector
The service sector has seen remarkable institutional growth. In 2013, there were 6.92 million service sector businesses, which grew by 91 per cent over a decade, reaching 10.83 million in 2024.
Rural Economy Outperforms Urban Growth
As of 2024, 70.27 per cent of all economic units are based in rural areas, while only 29.73 per cent are in urban regions. This highlights the expansion of rural economic activities in the past decade.
The first economic census in the country was conducted in 1986, followed by the second census in 2001 and 2003. The third census took place in 2013, and in continuation, the fourth economic census was conducted from Dec 10 to 26, 2024.
At the survey results publication, Planning Advisor Wahiduddin Mahmud said: "The release of the preliminary report of the economic census is a highly significant moment for the country. This report will assist policymakers, researchers, research institutions, and academicians in formulating future policies and plans as per their needs.
“The census provides updated insights into the country’s economic structure, business and trade, production, and service sectors."
KAS Murshid, chair of the Task Force on Redefining Economic Strategies and Resource Mobilisation for Inclusive and Sustainable Development, commented: "The economic census is a valuable repository of information for us. It not only presents a picture of economic activities but also plays a crucial role in the comparative analysis of urban and rural economic conditions."
Md Mahbub Hossain, secretary of the Statistics and Data Management Division, said: "The preliminary report of the census provides insights into the workforce in the industrial and service sectors, ownership structures of enterprises, the diversity of produced goods and services, and data on economic households. This will help determine the trajectory of the country's economic progress."
Mohammad Mizanur Rahman, Director General of BBS, added: "The preliminary report of the 2024 Economic Census will strengthen the foundation of our development planning. The data collected through this census will not only support policymakers but also provide valuable insights for researchers, investors, and entrepreneurs."