Poverty in Bangladesh

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Bangladesh is an under-developed nation. Despite rapid economic growth, poverty remains a major issue. However, poverty has declined sharply in recent history. Shortly after its independence, approximately 90% of the population lived under the poverty line.^[1] However, since economic reforms and trade liberalization of early 1990s, along with accelerated economic growth since early-2000s, Bangladesh have experienced a dramatic progress in reducing poverty. The remarkable progress in poverty alleviation has been recognized by international institutions.^[2] According to World Bank, more than 33 million Bangladeshi people have been lifted out of poverty since 2000; as measured by the percentage of people living on the equivalent of US$1.90 or less per day in 2011 purchasing price parity terms.^[3][4]

Since early-2000s, rapid economic growth has fueled a remarkable increase in per-capita income. Bangladesh's per capita has increased almost threefold between 2010 and 2020, from under $700^[5] to $2,068,^[6] (the highest GDP per capita in South Asia) moving Bangladesh into the ranks of middle-income economy. At current growth, Bangladesh is projected to enter upper-middle income status by 2041. Based on the current rate of poverty reduction, Bangladesh is projected to eradicate extreme poverty by 2031, as outlined in its Eighth Five-Year Plan (2020–2025) and supported by reports from organizations such as the World Bank and the Asian Development Bank.^{[7][8][9][10]} Bangladesh has exhibited remarkable accomplishments in diverse spheres, encompassing poverty reduction, ensuring food security, enhancing primary education, reducing mortality ratios, expanding immunization coverage, and effectively addressing communicable diseases.^[11]