Bangladesh’s Strong Economy Boasts $31 Billion Foreign Reserve, While Pakistan Struggles with Around $4 Billion

According to a report, Bangladesh has outperformed Pakistan in various aspects of the economy. Recently, Bangladesh announced a federal budget of $71 billion for the fiscal year 2023-24, setting a growth rate target of 7.5% and projecting an average inflation rate of 6.5%.

In contrast, Pakistan’s foreign exchange reserves are below $4 billion, while Bangladesh starts the new fiscal year with reserves of approximately $31 billion.

Bangladesh has also surpassed Pakistan in terms of exports. In the previous financial year, Bangladesh’s exports reached $52 billion, whereas Pakistan’s exports were limited to $31.78 billion. The budget of Bangladesh aims to achieve an export target of $67 billion, and current data suggests it is likely to exceed $65 billion. Pakistan, on the other hand, had a target of $38 billion for exports in the fiscal year 2023 but has only achieved $21.5 billion so far.

The per capita income in Bangladesh for the fiscal year 2023 was estimated to be around $2675, while in Pakistan, it is projected to be $1568. The Pakistani rupee has remained relatively stable, depreciating by only 0.38 percent.