Published: Friday, May 17, 2013

Per capita income goes up to $923

Per capita income rose by around 9 percent to $923 in the current fiscal year due to higher remittance inflow.The figure was $848 last fiscal year, according to Bangladesh Bureau of Statistics.
Higher earnings by expatriates have boosted the income of their relatives in the rural areas, resulting in a rise in the country’s per capita income, said Zaid Bakht, a research director at Bangladesh Institute of Development Studies.
In the first 10 months of the current fiscal year, Bangladesh received $12.30 billion in remittances, up 16 percent than the same period last year.
The latest figure from the state-run statistical agency is still short of the $1,100 needed to pull the country up to the middle-income bracket.
The nation aims to reach the status of a middle income country by 2021, according to the government’s perspective plan.
However, the World Bank said the required per capita income in 2021 would be $1,3v00, meaning a growth rate of 7.5 percent to 8 percent is needed every year.