The amount of debt per household is increasing, as one-third of households in Bangladesh are now in debt.
In 2022, the average loan amount of each family in Bangladesh was Tk70,506, up from Tk37,743 in 2016, according to data shared recently.
The survey found borrowing by families has risen by close to 87% in the last six years.
Additionally, the number of families that borrowed to avoid hardships increased by 7.3% in the same period.
The data has been published in the latest household income-expenditure survey of Bangladesh Bureau of Statistics (BBS).
According to the survey, 37% of the country's households took loans or borrowed money last year.
In the 2016 survey, 29.70% of the households were borrowing.
Data analysis also showed that an average of 39.35% of families in rural areas were in debt.
In urban areas, however, the amount of debt stands at 32.11%.
Back in 2016, household debt was way higher in rural areas, at 32.70%, while in urban areas it was 22.10%.
In 2022, the number of households in debt increased by an average of 10% in urban areas, and by 6.5% in rural areas, the BBS survey stated.
Last Wednesday, BBS published the preliminary results of the Household Income and Expenditure Survey 2022.
