The average monthly income per person in the country has risen substantially from 3,940 taka in 2016 to an impressive 7,614 taka in 2022, nearly doubling over this period.
The latest findings from the Bangladesh Bureau of Statistics (BBS) Khana Income and Expenditure Survey 2022 paint a dynamic economic landscape, showcasing notable improvements in income levels over the past eight years.
Released on Sunday, the final report provides a detailed analysis of income distribution across urban and rural areas. According to the report, the average monthly income of individuals in urban settings is notably higher, standing at 10,951 taka, compared to the 6,091 taka reported for rural areas.
The study recognizes the diversity within households, acknowledging that not all family members are earners. However, focusing on those who contribute financially, the survey indicates that the average income of earners has surged from 13,646 taka eight years ago to a noteworthy 25,707 taka.
Investigating the broader economic landscape, the BBS report sheds light on family dynamics. The average family size is reported at 4.26 members, with a corresponding monthly income of 32,422 taka. Monthly expenditures average around 31,500 taka, with 14,003 taka dedicated to food expenses.
BBS officials emphasized the impact of socio-economic changes over the last eight years on income and expenditure patterns. A notable shift in wealth concentration among the affluent was observed, contributing to increased income inequality. The top 10 per cent (pc) of earners now command about 41pc of the country's total income, up from 39pc in 2016.
Conversely, the income share of the poorest 10pc has slightly increased, now accounting for 1.31pc of the total income, compared to 1.002pc eight years ago. Income inequality, as measured by the Gini coefficient, has risen to 499 decimal points in 2022, up from 482.482 points in 2016. Despite this, the overall poverty rate has seen a substantial decline, dropping to 18.7pc from 24.3pc in 2016. Extreme poverty has also significantly decreased from 12.9pc to 5.6pc during the same period.
Contrary to previous perceptions, the survey challenges the notion that poverty is more concentrated in North Bengal. Instead, the Barisal division reports the highest poverty rate at 26.9pc, while the Khulna division boasts the lowest poverty rate at 14.8pc. Other notable figures include Dhaka (17.9pc), Chittagong (15.8pc), Rajshahi (16.7pc), Sylhet (17.4pc), Rangpur (24.8pc), and Mymensingh (24.2pc).
The survey underscores the evolving economic landscape of Bangladesh, showcasing both positive trends in income growth and the need for continued efforts to address income disparities across various segments of society.
