Dhaka, Feb 10 (V7N) –Bangladesh’s per capita income has declined to $2,738 in the fiscal year 2023-24, according to the final calculation by the Bangladesh Bureau of Statistics (BBS).
This marks a $46 decrease from the provisional estimate of $2,784.
The BBS released the final calculations for per capita income and Gross Domestic Product (GDP) on Monday, revealing that the GDP growth rate has also dropped by 1.60 percentage points compared to the provisional estimate.
BBS data shows that the country’s per capita income has been declining for three consecutive years. In 2021-22, it reached its highest level at $2,793, before dropping to $2,749 in 2022-23. The downward trend continued in the latest fiscal year, with income falling further.
The primary reason for this decline is the rising exchange rate of the US dollar. The BBS calculation for 2023-24 was based on an average exchange rate of Tk111.06 per $1, reflecting the ongoing depreciation of the Bangladeshi taka over the past two years.
Despite the decline in dollar terms, per capita income has increased in Bangladeshi taka. It has now surpassed Tk3 lakh, reaching Tk3,04,102 in 2023-24, compared to Tk2,73,360 in the previous fiscal year. This trend highlights the impact of currency depreciation on economic indicators, despite growth in local earnings.
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