Bangladesh's economy has grown by 3.97 per cent in the current fiscal year 2024–25, down from 4.22 per cent in the previous fiscal year 2023–24, according to a provisional estimate released by the Bangladesh Bureau of Statistics (BBS) on Tuesday.

In 2022–23, the growth rate stood at 5.78 per cent.

Gross Domestic Product (GDP) refers to the final value of all goods and services produced within an economy over a specific period.

According to the BBS report, the per capita income of the people of Bangladesh has now reached USD 2,820 — the highest in the country’s history.

The provisional figures were published in the BBS’s preliminary national accounts for the 2024–25 fiscal year.

The per capita income has increased by 82 dollars compared to the previous fiscal year against 2,738 dollars in the past fiscal year.

The BBS also gave the provisional account of the per capita income, gross domestic product (GDP) for the 2024-25 fiscal year.

Earlier, the highest per capita income was 2,793 dollars in the 2021-22 fiscal year. After that, the per capita income did not increase in dollar terms due to the increase in the value of the dollar.

The per capita income is not a single income of an individual. The income received in addition to the country's domestic income, including income from abroad, is the total national income of a country. This calculation is made by dividing that national income by the total population.

According to the BBS's calculations, the per capita income in the 2021-22 fiscal year was 2,793 dollars. Then, the per capita income in the 2022-23 fiscal year decreased to $2,749. In the last fiscal year, it decreased further to $2,738.

Basically, the difference in per capita income in the BBS calculation is due to the increase in the dollar exchange rate. To calculate the BBS per capita income for the current fiscal year, the average exchange rate per dollar has been taken as Tk 120.29. Last time, this exchange rate was taken as Tk 111.06.

In the current fiscal year, the per capita income in Taka terms stood at Tk 3,39,221. In the last fiscal year, it was Tk 3,04,102.