Per capita income of Bangladesh finally rose to US$1,316 in the last fiscal year, up from provisional estimate of $1,314.
After the Ecnec meeting Planning Minister AHM Mustafa Kamal informed the reporters that per capita income increased due to slight rise of GDP growth to 6.55% in FY15 from the provisional 6.51%.
According to the World Bank criteria, Bangladesh will be recognised as a middle-income nation if it achieves at least an average per capita income of $1,045 for three consecutive years. Per capita income was $1,190 in FY14 and $1,154 in FY13.
According to the World Bank’s 2012 classification, the income thresholds are: low income $1,035 or less; lower middle-income $1,036 to $4,085; upper middle-income $4,086 to $12,615; and high income $12,616 or more.
“The rise in per capita income makes Bangladesh the 58th largest economy in the world in terms of nominal value,” said the Planning Minister.
On the scale of purchasing power parity, the per capita income in the country is $3,190, making the economy the 36th largest in the world, he added.
According to the final calculation of the Bangladesh Bureau of Statistics (BBS), the overall size of the GDP at constant market price for FY15 stood at Tk8,248,624 crore, which was Tk7,741,361crore in FY14 at constant market price.
In FY15, the agriculture sector saw the growth of 3.33%, the industrial 9.67%, services 5.80%, fishing 6.38%, mining 9.60%, manufacturing 10.31%, electricity, gas and water 6.22% while construction 8.60%.