Bangladesh overtakes India in per capita GDP: IMF

[Black_cats]

Bangladesh overtakes India in per capita GDP: IMF

Prothom Alo English Desk
Dhaka
Published: 42 minutes ago

IMF logo

Bangladesh has overtaken its much-larger neighbour India in terms of per capita GDP in 2020, owing to a respectable performance on the economic front despite slowing growth coupled with a steep contraction in the India economy as a result of their coronavirus lockdown, reports UNB.

Per capita gross domestic product (GDP) is a global measure for gauging the prosperity of nations and is used by economists, along with GDP, to analyze the prosperity of a country, to go with its economic heft. It is calculated by dividing the GDP of a country by its population.

According to the International Monetary Fund (IMF)-World Economic Outlook (WEO) database, Bangladesh is going to pip India as its per capita GDP in dollar terms is likely to expand 4 per cent in 2020 to $1,888. Its per capita GDP is growing at a rate faster than its GDP.

Meanwhile, India's per capita GDP is expected to slump 10.5 per cent to $1,877, which is the lowest in the last four years. Its per capita GDP fell at a faster rate than its GDP. The GDP number for both countries is at current prices.

The IMF’s ‘World Economic Outlook: A Long and Difficult Ascent’ released on Tuesday said like many other emerging economies, Bangladesh’s gross domestic product growth decelerated to 3.8 per cent in 2020, by which it meant the 2019-20 fiscal. Growth is projected to rise to 4.4 per cent in 2021, i.e. the current fiscal 2020-21.

Among other South Asian countries, IMF estimated a 10.3% contraction for India's GDP in 2020, while Bhutan’s growth is estimated at 0.6%, Sri-Lanka at -4.6%, Pakistan -0.4% and Nepal's to remain flat.

The WEO database suggests that the Indian economy will be the worst hit from the pandemic in South Asia alongside Sri Lanka, whose per capita GDP is expected to shrink 4 per cent in the current calendar year.

In South Asia, Bhutan, Sri Lanka and the Maldives still lead Bangladesh on GDP per capita, although they are much smaller economies. India's per capita GDP, up until five years ago, was around 40 per cent higher than Bangladesh's. However, over the last five years, Bangladesh's per capita GDP has increased at a compound annual growth rate (CAGR) of 9.1 per cent, compared to 3.2 per cent growth recorded by India during the said period, according to BusinessToday.in, which first reported the switchover.

Bangladesh overtakes India in per capita GDP: IMF

Bangladesh has overtaken its much-larger neighbour India in terms of per capita GDP in 2020, owing to a respectable performance on the economic front despite slowing growth coupled with a steep contraction in the India economy as a result of their coronavirus lockdown.

en.prothomalo.com

 

[DalalErMaNodi]

Covid slammed India, but they will rebound soon enough.


Anyhow, we were bound to overtake them some time in this decade, not that it should be our goal.


Competing with India shouldn't be our goal, India is just another malnourished backwater like our own country, we should be comparing to better countries.


You start by aiming high, setting seemingly unachievable targets is step one of success. Overtaking India in terms of per capita income isn't a proper target.

 

[Protest_again]

Covid slammed India, but they will rebound soon enough.


Anyhow, we were bound to overtake them some time in this decade, not that it should be our goal.


Competing with India shouldn't be our goal, India is just another malnourished backwater like our own country, we should be comparing to better countries.


You start by aiming high, setting seemingly unachievable targets is step one of success. Overtaking India in terms of per capita income isn't a proper target.

GDP percapita is just a measure of final goods and services produced, partly consumed and rest exported per person in a year in the country.

Clearly Bangladesh must be producing textiles and I don't know what else to have this higher per capita GDP. You govt revenue is not anywhere near India. Your consumption too is not. Your exports per capita are also low compared to India. Your saving rate of 30% is just about same as India. Your stock market is not even worth mentioning. I am guessing may be real estate is a big play in Bangladesh. And also the inflation, by which products will be costlier, you could be using more money to buy same product than in India. Other than that there is no explanation.

Higher per capita unaccompanied by higher consumption is useless.

 

[Mighty Lion]

Only for 2020.
In the very same paper IMF released, it was written that in 2021, India's per capita income will grow at 8.8% against Bangladesh's 5.4%. And that in 2021 India per capita will reach to $2,001 and Bangladesh will be $1900. Reading half things.

 

[Protest_again]

Only for 2020.
In the very same paper IMF released, it was written that in 2021, India's per capita income will grow at 8.8% against Bangladesh's 5.4%. And that in 2021 India per capita will reach to $2,001 and Bangladesh will be $1900. Reading half things.

Wait it was IMF mid year review. It took -23% of our june quarter and extrapolated it for the entire year. Also their assumed dollar exchange rate was rupees 77.5. Today Indian rupee is 73.25. That's about 6% correction. There are other assumptions too. So this is not the final figure even for this year.

 

[Homo Sapiens]

Bangladesh overtakes India in per capita GDP: IMF

Prothom Alo English Desk
Dhaka
Published: 42 minutes ago

IMF logo

Bangladesh has overtaken its much-larger neighbour India in terms of per capita GDP in 2020, owing to a respectable performance on the economic front despite slowing growth coupled with a steep contraction in the India economy as a result of their coronavirus lockdown, reports UNB.

Per capita gross domestic product (GDP) is a global measure for gauging the prosperity of nations and is used by economists, along with GDP, to analyze the prosperity of a country, to go with its economic heft. It is calculated by dividing the GDP of a country by its population.

According to the International Monetary Fund (IMF)-World Economic Outlook (WEO) database, Bangladesh is going to pip India as its per capita GDP in dollar terms is likely to expand 4 per cent in 2020 to $1,888. Its per capita GDP is growing at a rate faster than its GDP.

Meanwhile, India's per capita GDP is expected to slump 10.5 per cent to $1,877, which is the lowest in the last four years. Its per capita GDP fell at a faster rate than its GDP. The GDP number for both countries is at current prices.

The IMF’s ‘World Economic Outlook: A Long and Difficult Ascent’ released on Tuesday said like many other emerging economies, Bangladesh’s gross domestic product growth decelerated to 3.8 per cent in 2020, by which it meant the 2019-20 fiscal. Growth is projected to rise to 4.4 per cent in 2021, i.e. the current fiscal 2020-21.

Among other South Asian countries, IMF estimated a 10.3% contraction for India's GDP in 2020, while Bhutan’s growth is estimated at 0.6%, Sri-Lanka at -4.6%, Pakistan -0.4% and Nepal's to remain flat.

The WEO database suggests that the Indian economy will be the worst hit from the pandemic in South Asia alongside Sri Lanka, whose per capita GDP is expected to shrink 4 per cent in the current calendar year.

In South Asia, Bhutan, Sri Lanka and the Maldives still lead Bangladesh on GDP per capita, although they are much smaller economies. India's per capita GDP, up until five years ago, was around 40 per cent higher than Bangladesh's. However, over the last five years, Bangladesh's per capita GDP has increased at a compound annual growth rate (CAGR) of 9.1 per cent, compared to 3.2 per cent growth recorded by India during the said period, according to BusinessToday.in, which first reported the switchover.

Bangladesh overtakes India in per capita GDP: IMF

Bangladesh has overtaken its much-larger neighbour India in terms of per capita GDP in 2020, owing to a respectable performance on the economic front despite slowing growth coupled with a steep contraction in the India economy as a result of their coronavirus lockdown.

en.prothomalo.com

This is how it should be, before British colonialism screwed up East Bengal with their engineered mega famine and systematic destruction of our textile industry, Bengal was the most prosperous part of the Sub Continent. Bengal provided 50 percent of Mughal tax revenue which indicate the sheer economic activities in this region.

 

[Ghost Hobbit]

Covid slammed India, but they will rebound soon enough.


Anyhow, we were bound to overtake them some time in this decade, not that it should be our goal.


Competing with India shouldn't be our goal, India is just another malnourished backwater like our own country, we should be comparing to better countries.


You start by aiming high, setting seemingly unachievable targets is step one of success. Overtaking India in terms of per capita income isn't a proper target.

Yes COVID has an effect . But we do acknowledge openly that BD has done a great job in keeping its focus on economic growth and performed well. Hearty congradulations on this extremely well deserved accomplishment. Wish you all the best for your future.

And as for bouncing back...of course we'll bounce back and beat you to take the title again... ...that's the kind of competition on economic front that the subcontinent needs more than anythingelse

Wait it was IMF mid year review. It took -23% of our june quarter and extrapolated it for the entire year. Also their assumed dollar exchange rate was rupees 77.5. Today Indian rupee is 73.25. That's about 6% correction. There are other assumptions too. So this is not the final figure even for this year.

don't be petty. They have done EXTREMELY good work. And man that woman sheikh hasina knows how to get what she wants. She made MMS walk the plank on electricity supply and then hung modi upside down on many trade concessions. She has represented the interests of her people very well indeed. And the results are here for the world to see.

 

[Figaro]

It will only be a matter of time before Sub-Saharan Africa also overtakes India in GDP per capita.

 

[NeonNinja]

congrats

 

[Black_cats]

Bangladesh is about to beat India in regional per capita GDP sweepstakes
Indian economy to contract by 10.3% in 2020; may bounce back with 8.8% growth rate in 2021: IMF

Synopsis
In per capita GDP terms, India was significantly above Bangladesh till a few years ago, but the gap has been substantially closed owing to the country's rapidly-rising exports. Besides, during the intervening period, while India's savings and inve...

By ET Online
Last Updated: Oct 14, 2020, 03:22 PM IST

Close on the heels of Q1's unprecedented GDP hit, some more sobering news could be headed India's way, if one goes by the International Monetary Fund's latest World Economic Outlook report.

According to the IMF report, India is about to slip below Bangladesh in per capita gross domestic product in 2020 (calendar year) as a result of lockdown impact.


The IMF sees India's per capita GDP (in dollar terms, at current prices) falling to $1,877 in 2020, a decline of 10.3 per cent. For Bangladesh, the corresponding figure is seen growing to $1,888, a rise of 4 per cent.

In per capita GDP terms, India was significantly above Bangladesh till a few years ago, but the gap has been substantially closed owing to the country's rapidly-rising exports. Besides, during the intervening period, while India's savings and investments remained lukewarm, the corresponding numbers for Bangladesh saw a sizeable surge.
If IMF's forecast hits the mark, that will leave India just ahead of Pakistan and Nepal in the regional GDP sweepstakes. It means others in South Asia — Bhutan, Sri Lanka, Maldives and of course Bangladesh — will be ahead of India.

Compared to the degrowth projected for India, the economies of Nepal and Bhutan are expected to grow this year, the report noted.

IMF's forecast for India is worse than RBI's projection of 9.5% contraction for the full fiscal. It also also gloomier than the forecast of World Bank which predicted a decline of 9.6% for FY21. In addition, the World Bank also said that the situation in India is "worse than ever".

India's contraction of 10.3% is going to be third sharpest fall in the world after Spain and Italy, the report said. It will also be the starkest decline among developing nations and emerging economies, it added.
Emerging economies other than China will witness a 5.7 per cent contraction in 2020, the IMF said in the report. This is worse than the 5.0 per cent projected in June.

In particular, the report flagged risks emanating from the unabated spread of the virus in countries such as India and Indonesia. These economies are far more reliant on worst-hit sectors like tourism and commodities as also on remittances and other sources of external finance, which IMF said would make recovery much tougher for them.

The data accompanying the report says that in 2020, the Indian economy is set to shrink the most since the 1990-91 crisis. India is likely to be the worst hit economy in South Asia after Sri Lanka, it shows.

The IMF report, however, foresees a sharp recovery for India in 2021, which will get India ahead of Bangladesh once again in per capita GDP.

As per the report's projections, in (calendar year) 2021, per capita GDP in dollar terms for India is likely to grow 8.2 per cent. For the same period, the projected number for Bangladesh is 5.4 per cent. That will take India to $2,030 in per capita GDP in 2021 compared to $1,990 for Bangladesh.

india gdp growth: Bangladesh is about to beat India in regional per capita GDP sweepstakes - The Economic Times

In per capita GDP terms, India was significantly above Bangladesh till a few years ago, but the gap has been substantially closed owing to the country's rapidly-rising exports. Besides, during the intervening period, while India's savings and investments remained lukewarm, the corresponding...

www.google.com

 

[Black_cats]

Based on the video India’s GDP decline would be much worse than projected -10.4% as IMF is lagging behind with actual data. If that’s the case it will be unrealistic to expect India’s gdp will see a 8.8% growth next year.

Surprised to see not even a single time those two so called economists praised Bangladesh for moving ahead of India and deflected the question of the host what really went wrong as even 5 years ago India’s per capita gdp was 40% higher than Bangladesh but now they overtaken India.

 

[DalalErMaNodi]

Bangladesh is about to beat India in regional per capita GDP sweepstakes
Indian economy to contract by 10.3% in 2020; may bounce back with 8.8% growth rate in 2021: IMF

Synopsis
In per capita GDP terms, India was significantly above Bangladesh till a few years ago, but the gap has been substantially closed owing to the country's rapidly-rising exports. Besides, during the intervening period, while India's savings and inve...

By ET Online
Last Updated: Oct 14, 2020, 03:22 PM IST

Close on the heels of Q1's unprecedented GDP hit, some more sobering news could be headed India's way, if one goes by the International Monetary Fund's latest World Economic Outlook report.

According to the IMF report, India is about to slip below Bangladesh in per capita gross domestic product in 2020 (calendar year) as a result of lockdown impact.


The IMF sees India's per capita GDP (in dollar terms, at current prices) falling to $1,877 in 2020, a decline of 10.3 per cent. For Bangladesh, the corresponding figure is seen growing to $1,888, a rise of 4 per cent.

In per capita GDP terms, India was significantly above Bangladesh till a few years ago, but the gap has been substantially closed owing to the country's rapidly-rising exports. Besides, during the intervening period, while India's savings and investments remained lukewarm, the corresponding numbers for Bangladesh saw a sizeable surge.
If IMF's forecast hits the mark, that will leave India just ahead of Pakistan and Nepal in the regional GDP sweepstakes. It means others in South Asia — Bhutan, Sri Lanka, Maldives and of course Bangladesh — will be ahead of India.

Compared to the degrowth projected for India, the economies of Nepal and Bhutan are expected to grow this year, the report noted.

IMF's forecast for India is worse than RBI's projection of 9.5% contraction for the full fiscal. It also also gloomier than the forecast of World Bank which predicted a decline of 9.6% for FY21. In addition, the World Bank also said that the situation in India is "worse than ever".

India's contraction of 10.3% is going to be third sharpest fall in the world after Spain and Italy, the report said. It will also be the starkest decline among developing nations and emerging economies, it added.
Emerging economies other than China will witness a 5.7 per cent contraction in 2020, the IMF said in the report. This is worse than the 5.0 per cent projected in June.

In particular, the report flagged risks emanating from the unabated spread of the virus in countries such as India and Indonesia. These economies are far more reliant on worst-hit sectors like tourism and commodities as also on remittances and other sources of external finance, which IMF said would make recovery much tougher for them.

The data accompanying the report says that in 2020, the Indian economy is set to shrink the most since the 1990-91 crisis. India is likely to be the worst hit economy in South Asia after Sri Lanka, it shows.

The IMF report, however, foresees a sharp recovery for India in 2021, which will get India ahead of Bangladesh once again in per capita GDP.

As per the report's projections, in (calendar year) 2021, per capita GDP in dollar terms for India is likely to grow 8.2 per cent. For the same period, the projected number for Bangladesh is 5.4 per cent. That will take India to $2,030 in per capita GDP in 2021 compared to $1,990 for Bangladesh.

india gdp growth: Bangladesh is about to beat India in regional per capita GDP sweepstakes - The Economic Times

In per capita GDP terms, India was significantly above Bangladesh till a few years ago, but the gap has been substantially closed owing to the country's rapidly-rising exports. Besides, during the intervening period, while India's savings and investments remained lukewarm, the corresponding...

www.google.com

The vitriol in the comments section


@namefield_empty kire maalu ehon ki khoibi ?

'Kandapara' sodaite aisili de ehon ai ne Kandapara't, goda tribe loire ai, ek ek jon e re 5 teya gori becchom...


Ki hos malu ?

 

[Black_cats]

• 14 October 2020
• 
  
• Newsscroll | Source: PTI

Indian economy in tatters, colossal downfall in pursuit of PM Modi''s 5 trillion dream: Abhishek Banerjee

Kolkata, Oct 14 (PTI) Senior TMC leader Abhishek Banerjee on Wednesday said the country''s economy is in "tatters", and described IMF''s projections of Bangladesh surpassing India in terms of per capita GDP as "our colossal downfall" in pursuit of Prime Minister Narendra Modi''s "5 trillion dream".

Abhishek, who is an MP and also president of TMC youth congress, posted a news clip on his Twitter handle to take a dig at the Union government.

"Indian Economy in tatters, as even Bangladesh is set to overtake us in Per Capita GDP as per @IMFNews''s World Economic Outlook. Listen carefully, it''s not their resurgence, but our colossal downfall, in pursuit of @narendramodi Ji''s 5 Trillion dream!," Abhishek, the nephew of West Bengal Chief Minister Mamata Banerjee, said.
The PM has set a goal of making India a USD 5-trillion economy by 2024.

The International Monetary Fund had said on Tuesday said the Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 per cent this year.

India however, is likely to bounce back with an impressive 8.8 per cent growth rate in 2021, thus regaining the position of the fastest-growing emerging economy, surpassing China''s projected growth rate of 8.2 per cent, the IMF said in its latest World Economic Outlook report. PTI PNT RBT RBT

Outlook India - India's Best Magazine| Find Latest News, Top Headlines, Live Updates

Visit Outlook India for breaking, latest and live news and explainers, election and politics, sports, business, entertainment, magazine, video and audio stories. Outlook is India's leading news magazine and provides trusted and in-depth news content.

www.google.com

 

[Mace]

Bangladesh overtakes India in per capita GDP: IMF

Prothom Alo English Desk
Dhaka
Published: 42 minutes ago

IMF logo

Bangladesh has overtaken its much-larger neighbour India in terms of per capita GDP in 2020, owing to a respectable performance on the economic front despite slowing growth coupled with a steep contraction in the India economy as a result of their coronavirus lockdown, reports UNB.

Per capita gross domestic product (GDP) is a global measure for gauging the prosperity of nations and is used by economists, along with GDP, to analyze the prosperity of a country, to go with its economic heft. It is calculated by dividing the GDP of a country by its population.

According to the International Monetary Fund (IMF)-World Economic Outlook (WEO) database, Bangladesh is going to pip India as its per capita GDP in dollar terms is likely to expand 4 per cent in 2020 to $1,888. Its per capita GDP is growing at a rate faster than its GDP.

Meanwhile, India's per capita GDP is expected to slump 10.5 per cent to $1,877, which is the lowest in the last four years. Its per capita GDP fell at a faster rate than its GDP. The GDP number for both countries is at current prices.

The IMF’s ‘World Economic Outlook: A Long and Difficult Ascent’ released on Tuesday said like many other emerging economies, Bangladesh’s gross domestic product growth decelerated to 3.8 per cent in 2020, by which it meant the 2019-20 fiscal. Growth is projected to rise to 4.4 per cent in 2021, i.e. the current fiscal 2020-21.

Among other South Asian countries, IMF estimated a 10.3% contraction for India's GDP in 2020, while Bhutan’s growth is estimated at 0.6%, Sri-Lanka at -4.6%, Pakistan -0.4% and Nepal's to remain flat.

The WEO database suggests that the Indian economy will be the worst hit from the pandemic in South Asia alongside Sri Lanka, whose per capita GDP is expected to shrink 4 per cent in the current calendar year.

In South Asia, Bhutan, Sri Lanka and the Maldives still lead Bangladesh on GDP per capita, although they are much smaller economies. India's per capita GDP, up until five years ago, was around 40 per cent higher than Bangladesh's. However, over the last five years, Bangladesh's per capita GDP has increased at a compound annual growth rate (CAGR) of 9.1 per cent, compared to 3.2 per cent growth recorded by India during the said period, according to BusinessToday.in, which first reported the switchover.

Bangladesh overtakes India in per capita GDP: IMF

Bangladesh has overtaken its much-larger neighbour India in terms of per capita GDP in 2020, owing to a respectable performance on the economic front despite slowing growth coupled with a steep contraction in the India economy as a result of their coronavirus lockdown.

en.prothomalo.com

Good work. Keep it up.

The entire South Asia region needs to steadily prosper

 

[Species]

GDP percapita is just a measure of final goods and services produced, partly consumed and rest exported per person in a year in the country.

Clearly Bangladesh must be producing textiles and I don't know what else to have this higher per capita GDP. You govt revenue is not anywhere near India. Your consumption too is not. Your exports per capita are also low compared to India. Your saving rate of 30% is just about same as India. Your stock market is not even worth mentioning. I am guessing may be real estate is a big play in Bangladesh. And also the inflation, by which products will be costlier, you could be using more money to buy same product than in India. Other than that there is no explanation.

Higher per capita unaccompanied by higher consumption is useless.

To know about Bangladeshi consumption you only need to visit Kolkata. In a normal year, 60% of their retail sales come from Bangladeshi tourists, that must be around 40-50% of the state GDP of West Bengal. A lot are often smuggled into Bangladesh. The differences between the dietary habits of the neighboring Indian states and Bangladesh also speak a lot.

Although there is much emphasis on export, the real growth generator for Bangladesh is the service sector where the retail sector is the key. This year Bangladesh has been saved by the remittances sent by the expatriates, likely to be the highest in the country's history in the fiscal end.