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Dhaka Tribune

Per capita income increases by 149% in 10 years

The most significant achievement is, the economic growth accelerated to 7.86 percent in FY18 from 5.05 percent in FY09

Update : 25 Sep 2018, 07:20 PM

The per capita income (income per person) in Bangladesh has increased by 149.07 percent during the last 10 years, showing remarkable success in all socio-economic indicators from the 2008 to 2017.

Sources at the Finance Ministry said, the country’s per capita income has increased to US$1751 per annum in the 2017-18 (FY18) financial year, from US $703 in financial year 2008-09 (FY09), reports BSS.

Finance Division Secretary-in-Charge, Abdur Rouf Talukder, said various socio-economic indicators, including GDP growth, import and export, per capita income, food production, remittance, and inflation, has achieved success during the period. 

The most significant achievement is, the economic growth accelerated to 7.86 percent in FY18 from 5.05 percent in FY09.

During the same period, remittance inflow increased to $14,981.69 million from $9,689.26 million and the foreign exchange reserve increased to $32943.50 million from $7,470.90 million. Inclusive and pro-poor policy programmes of the government have largely contributed to the reduction of poverty and inequality, along with ensuring commendable economic growth, Talukder said.

“Moreover, social mobility and women’s empowerment have improved largely and Bangladesh has moved further in the human development index as well,” he added.

The expected average life expectancy in 2008 was 66.8 years which increased to about 72 years in 2017. 

The rate of poverty also declined to 24.3 percent in FY18 from 31.5 per cent in FY09, and the extreme poverty rate went down to 12.9 per cent from 17.6 per cent.

Research Director of the Center for Policy Dialogue (CPD), Khondaker Golam Moazzem, said “The Bangladesh economy has taken a positive shape in the last 10 years. The country has achieved Millennium Development Goals (MDGs) successfully, and now it is moving forward to achieve the Sustainable Development Goals (SDGs).”

Over the last 10 years, he said, Bangladesh has been able to achieve inclusive growth by maintaining over 6 percent GDP growth and developing infrastructure across the country.

Moazzem said the government gave priority to electricity, gas, and communication, to develop infrastructure and make the country an investment hub for both local and foreign investors.

He urged the authorities concerned to increase the economic reform activities to achieve over 8 percent GDP growth.

According to the Finance Ministry, the government has announced a Taka 4,64,573 crore national budget for 2018-19 financial year. In FY18, the budget was Taka 4,00,266 crore, and it was Taka 99, 962 crore in FY09 .

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