Per capita income now $2,824

Black_cats · Nov 15, 2022

Per capita income now $2,824

Published: November 14, 2022 22:02:27 | Updated: November 15, 2022 08:59:55

The per capita income in Bangladesh rose by 9 per cent year-on-year to $2,824 in the fiscal year 2021-22, said the annual report of the fiscal year (FY) 2021-22 on ministries and divisions approved Monday.

The performance-related annual report on ministries and divisions of FY222 was presented at the regular meeting of the cabinet. Prime Minister Sheikh Hasina presided over the meeting at her office, according to UNB.

Cabinet Secretary Khandker Anwarul Islam briefed reporters at the secretariat after the meeting.

The word per capita in Latin means by head. Per capita income is an indicator of how much money each person makes in a country or region.

This measurement assists in determining the average income per person, helping ascertain the quality of living for a population in a specific area.

Although per capita Income calculates gross domestic product and gross national income per capita, it cannot consider factors such as inflation, poverty, savings and economic welfare.

As per the report, the stock of food grains was 1.607 million metric tonnes at the end of FY22 that was 11 per cent higher than that of previous fiscal.

The country received $21.03 billion in remittance in the last fiscal year. In FY21, the expatriate Bangladeshis sent $24.78 billion in remittance.

However, the export earnings were increased to $52.08 billion in FY22.