DE Online Desk
In the fiscal year 2023-24, Bangladesh witnessed a notable rise in its per capita income, as reported by the Bangladesh Bureau of Statistics (BBS).
The provisional data on the country’s gross domestic product (GDP) released on May 20th reveals that the per capita income has increased by $35, reaching a new height of $2,784.
This increase in per capita income marks a positive economic trend for Bangladesh, showcasing resilience and steady growth despite global economic challenges.
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In the previous fiscal year 2022-23, the per capita income was recorded at $2,749.
The increment to $2,784 signifies a modest yet meaningful enhancement in the average income level of Bangladesh’s population.
The BBS data also highlights a slight improvement in GDP growth. For the current fiscal year 2023-24, the GDP growth rate is projected to be 5.82%, a slight rise from the 5.78% recorded in the fiscal year 2022-23.
This marginal increase underscores a steady, though modest, economic momentum.
In local currency terms, the annual per capita income has also shown substantial growth. It has climbed to Tk 306,144 from the previous year’s Tk 273,360.
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This increase reflects a broader economic improvement, benefiting the average citizen in terms of purchasing power and economic stability.
The rise in per capita income and GDP growth, although modest, suggests that Bangladesh is on a steady path of economic development.
The continuous efforts to enhance economic policies, infrastructure, and investment opportunities seem to be yielding positive outcomes.
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As the fiscal year approaches its end, these provisional figures provide an optimistic outlook for Bangladesh’s economic future.
The fiscal year 2023-24 has been marked by a notable increase in Bangladesh’s per capita income and a slight improvement in GDP growth, reflecting the country’s ongoing economic progress and resilience.
