ISLAMABAD: The per capita income during the fiscal year 2015-16 has witnessed growth of 2.9 percent during the Fiscal Year 2015-16 and ascend to $1560.7 compared to $1516.8 during the fiscal year 2014-15.
According to Pakistan Economic Survey, launched here by Finance Minister Muhammad Ishaq Dar, the contributing factors for the increase in per capita income include acceleration in real GDP growth, lower growth in population and stability of Pak Rupee.
Per capita income reflects average standards of living of people in the country and is one of the most commonly used economic indicator.
It captures the level of economic development of the country and also compares well-being among different countries of the world.
Per capita income is calculated as Gross National Product (GNP) at market prices in dollar term divided by country’s population size. –APP