The per capita income of Bangladesh’s population has declined to $2,738, equivalent to Tk 3,04,102, according to the final estimate of the 2023-24 fiscal year.

This represents a decrease of $46 compared to the provisional estimate of $2,784.

The Bangladesh Bureau of Statistics (BBS) released this updated figure on Monday (February 10).

In taka terms, the income also saw a reduction from the provisional estimate of Tk 3,06,144.

This downward trend in per capita income is not new. Over the past few years, the country has witnessed a consistent decline:

In the 2021-22 fiscal year, per capita income stood at $2,793.

By the 2021-23 fiscal year, it had dropped to $2,749.

Now, in the 2023-24 fiscal year, the final estimate further reflects a concerning dip.

According to BBS officials, the decline can be attributed to several factors, including economic slowdowns, rising inflation, and currency depreciation. These challenges have eroded purchasing power and hindered overall growth, impacting the average income levels across the nation.

The decreasing per capita income highlights the pressing need for comprehensive economic reforms to reverse this trend.

Experts suggest that improving productivity, enhancing investment opportunities, and stabilising macroeconomic indicators are critical steps toward boosting incomes and ensuring sustainable development.