It rises by Tk 29,367, but drops by $28
Bangladesh's per capita income stood at $2,793 in fiscal 2021-22 -- $31 lower than the initial estimate as the steep depreciation of the taka messed up the government’s numbers.
To improve medium-term growth, China must heed the lessons of its own history and focus on removing barriers to market entry and entrepreneurship. An economy’s growth rate comes from a combination of an increase in the average size of existing firms (intensive-margin growth) and an increase in the number of firms (extensive-margin growth). A study of the Chinese manufacturing sector that I co-authored with Xiaobo Zhang suggests that during the last few decades, extensive-margin growth accounted for about 70 percent of overall GDP expansion.
Bangladesh economy was all set at the beginning of 2022 to get its growth momentum back after recovering from the prolonged Covid-19 pandemic. But, the start of the Ukraine war in February slowed the country’s joy run significantly, making it an eventful year to remember. Let’s see how 2022 was for Bangladesh.
The per capita income in Bangladesh rose by 9% year-on-year to US $2,824 in 2021-22 fiscal year, according to government data. People, however, are not seeing increase in their income, which can validate the data.
To most people, “development” is best measured by the quantity of change – like gains in average income, life expectancy, or years spent in school. The Human Development Index (HDI), a composite measure of national progress that my office at the United Nations Development Programme oversees, combines all three statistics to rank countries relative to one another.
Bangladesh's per capita income would reach $12,000 and the size of its economy $2.5 trillion by 2041, Prime Minister Sheikh Hasina