Per capita income soars to $2,064

GDP growth rate 5.24pc in FY20


Country’s per capita income has increased to $2,064 equivalent to Tk 1, 75,502 in the last fiscal year 2019-20 despite coronavirus pandemic situation, said a Bangladesh Bureau of Statistics (BBS) report.  

Besides, the rate of Gross domestic product (GDP), the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period has reached 5.24 percent in the outgoing fiscal year, BBS provisional estimation says.

However, BBS report shows the country’s economy grew by a record 8.15 per cent and the per capita income total US$1,909 in the fiscal year (FY19).

It means the per capita income has increased by $ 155 than that of fiscal year 2018-19, the report says.

The current population of Bangladesh is 164,869,319, according to the Worldometer elaboration of the latest United Nations data. Of them 8.22 crore are female.

According to BBS, each person of the country earns $2,064 equivalent to Tk 1, 75,502. 

The per capita income stood at $2,064 in the last fiscal from US$1,909 in FY19. The per capita income was US$1,751 in the FY18.

The GDP growth rate at constant prices in the Industry sector increased by 6.48 per cent in the last fiscal which was 12.67 per cent in FY19, the BBS report says.

In the services sector, the GDP growth rate increased by 5.32 percent in the last fiscal year while it was 6.78 percent in FY19.

In the agriculture sector, the GDP growth rate has been increased by 3.11 per cent in last fiscal year while it was 3.92 per cent in FY19.

The BBS data also showed that in the last fiscal year, the investment ratio to GDP stood at 31.75 per cent which was 31.57 per cent in FY19.

In the last fiscal year, the private investment ratio to GDP increased to 23.63 per cent while the public investment ratio to GDP stood at 8.12 per cent.

The total GDP size of Bangladesh at constant prices has been estimated at Taka 11,637,396 million in the last fiscal year which was Taka 11,057,936 million in FY19.

However, at current prices, the total GDP size has been estimated at Taka 27,963,782 million in last fiscal which was Taka 25,424,826 million in FY19.

The per capita GDP has also increased in the last fiscal with $1,970 which was $1,828 in FY19.

However, the Asian Development Bank made a forecast of 7.8 percent growth this year based on our performance in the first eight months. 

The government has taken a comprehensive plan to overcome the possible negative impacts of pandemic on our economy and people. 

Under this plan, it has taken measures that were necessary in the immediate term and we are implementing some in medium term. 

The government has also taken up a range of initiatives that will be implemented in longer term to achieve full economic recovery.