Sunday, October 1, 2023

In 1971, Pakistan was 70% Richer than Bangladesh, today Bangladesh is 45% richer than Pakistan

Bangladesh’s Cabinet Secretary told reporters that the country’s GDP per capita had increased by 9% in the previous year, to $2,227. In the meantime, the earnings of Pakistan per capita are $1,543.

Bangladesh is currently 45 percent more prosperous than Pakistan, according to one Pakistani economist. is not out of the realm of possibility that we would be requiring aid from Bangladesh in 2030.”

The textile exports of Pakistan are expected to drop by $500 million every month because of a power outage. The budget of Balochistan for fiscal year 2022–23 was announced on June 20.

India, which proudly considers itself the single South Asian economy that is significant, is now going through the reality that it, too, is weaker in wealth than Bangladesh in the context of per capita income.

In 2020–21, India’s per capita income was a mere $1,947. Social progress, fiscal restraint, and exports are considered to be the three main elements that are helping Bangladesh in its growth.

The exports of Bangladesh increased at a yearly rate of 8.6% within the years of 2011 and 2019, in comparison with a global average of 0.4 percent.

The progress of the country is partially because of its constant concentration on products where it has a competitive significance, for example, clothes.

In the meantime, unlike in India and Pakistan, where the contribution of women in the labour force has dropped, the role of Bangladeshi women in the labour force has been increased continuously.

The source of this information is Bloomberg.  

Related Articles

Latest Articles