Bangladesh Vs Pakistan A tale of two economies

[fitpOsitive]

12:00 AM, March 26, 2019 / LAST MODIFIED: 02:53 PM, March 26, 2019
BANGLADESH vs PAKISTAN
A tale of two economies

Sajjadur Rahman

The infamous quote 'Bangladesh is a bottomless basket' made by then US Secretary of State Henry Kissinger in 1974 has already been proved wrong.

In 1971, when Bangladesh achieved independence from Pakistan through a nine-month-long bloody battle that cost the lives of three million people, many doubted the survival of the new country.

But those concerns have dissipated long ago. In five years' time, Bangladesh is tipped to be a middle-income country.

Bangladesh's per capita income is estimated to be $1,909 at the end of the fiscal year, up from $120 in 1972.

Pakistan's per capita income stands at around $1,700 now from $180 in 1971.

Bangladesh is likely to be the biggest mover in the global GDP rankings in 2030, becoming the 26th largest economy in the world from 42nd last year, according to the latest HSBC Global Research report.

The report -- The World in 2030: Our long-term projections for 75 countries -- showed Bangladesh's economy would jump 16 notches, the highest by any country between 2018 and 2030. Bangladesh is now the world's second largest apparel exporter after mighty China, and its entrepreneurs have achieved that with imported machineries and raw materials.

The country exported $36.6 billion worth of goods in fiscal 2017-18, in contrast to Pakistan's just $23 billion.

Bangladesh's foreign exchange reserves is now more than double of Pakistan's less than $15 billion, and the latter's trade deficit is almost four times that of Bangladesh.

Pakistan's currency Rupee is now trading well below the value of Bangladesh's Taka: Tk 84 fetches one US dollar, whereas it costs more than Rs 140 in Pakistan.

Also, Bangladesh has made considerable progress in social sectors such as poverty reduction, health, family planning, female education, women's empowerment and child mortality reduction despite some challenges like governance crisis, corruption and political instability.

For example, the average life expectancy at birth has risen to 73 years in 2018 from less than 40 in 1971. The child mortality rate fell gradually from 224.6 deaths per 1,000 live births in 1968 to 32.4 deaths per 1,000 live births in 2017. The literacy rate has more than doubled since 1970.

So, its independence 48 years ago was for the better. This is the beauty of freedom.

You guys cought this contagious disease from India. Now you always compare your self with Pakistan. Calling Pakistan names satisfys you guys. But see, the type of liberation you enjoy on this Pakistani forum, Bangalis were enjoying more than this in Pakistan. Even today, Bangalis are holding high ranks in Pakistani establishment.
Whatever you Bengalis say to Pakistan, we will hear it, no problem, doesn't matter. But just don't convert yourselves into zombies like Indians.
Try to enjoy other things in this world too. Life is too short to be wasted like that.

 

[CHACHA"G"]

Since you are talking about history, Bangladesh has always been an economic powerhouse and the wealthiest part of South Asia by far before the British occupation began. It's only a matter of time before we reclaim our past glory.

wow so you jumped back 200+ years ……. allow me to break the cherry , do you know some most important part of that glory is now in India ????????????? First have full Bangal then you can have your glory ……Still 50% will go to hindus ………..

 

[Khan_21]

Since you are talking about history, Bangladesh has always been an economic powerhouse and the wealthiest part of South Asia by far before the British occupation began. It's only a matter of time before we reclaim our past glory.

I am talking about both as independant countries not going back centuries. I would advise you to carry out a normal election first. 96 % votes to sheikh haseena lol. Thats some north korean level of shit. Indians satellite state and on top of that Sheikh Haseena's regime's propaganda. Jeez

 

[Goenitz]

Bengal and Punjab bith were bread and butter for entire india and both divided... anyway, just exporting more as you enjoy foreign investment in garment and other finish products doesn't mean you are ahead... I mean if Afghan supervise drug trafficking they can earn more revenue... But both Pakistan and BD lags in service/consultancy like IT and other engineering fields... India is getting way ahead...

 

[Species]

wow so you jumped back 200+ years ……. allow me to break the cherry , do you know some most important part of that glory is now in India ????????????? First have full Bangal then you can have your glory ……Still 50% will go to hindus ………..

Hardly, the economic centres of pre-British Bengal were all situated in East Bengal, textiles of Dhaka, shipbuilding in Chittagong along with the vast agricultural resources throughout the countryside. It's only Kolkata they had which was only developed during the British period.

 

[CrazyZ]

Congrats Bangladesh! I have no issues with your success and wish you achieve more.

But please don't count Pakistan out yet....We have the energy resources to be one of largest industrial nations in the world....We will work together and help build a Greater Bangladesh in the future!!!!

 

[monitor]

Pakistan faced war on terrorism from 2004-2015 which enabled India to move ahead and BD to close the gap . Now only that but we have housed around 5 million Afghan refugees in the world the most for any country in the world . Our defence budget is much bigger than yours because of threat from India . And despite all that our PPP per capita is bigger , Our Cities look much better (BD cities look like Baghdad or Mosul ) . We definitely have much diverse exports than you guys which is only dependant on garments . Your Political Class are much more corrupt than ours . IK is miles ahead than Haseena and is loved by his own people . Have a look at recent Happiness Index by United Nations which says we are ahead in per capita , social support , Generosity , Freedom to make choices etc .

In the long run PK will get ahead again like always due to its strategic location and its people simply being much more resilient . We have much more natural resources . There is talk of Big oil reserves coming up in Karachi . PK historically since 1947 has been ahead than Both and India and BD . Only the war on terrorism reversed that. With us having a leader like IK and terrorism on its last legs its only a matter of time before we go ahead once again .

https://defence.pk/pdf/threads/recent-urban-development-in-bangladesh.557256/page-16

 

[Max]

The only failure of Pakistani Govt to waste money on Infrastructure instead of subsidies to exporters. We wasted billions on building world class motarways, while Bangladesh supported it's Garment sector.

The only difference b/w Pak and BD is their garment sector.

 

[CHACHA"G"]

Hardly, the economic centres of pre-British Bengal were all situated in East Bengal, textiles of Dhaka, shipbuilding in Chittagong along with the vast agricultural resources throughout the countryside. It's only Kolkata they had which was only developed during the British period.

First have full bangal……. then remember 50%of that glory will go to hindus……………..

 

[Species]

First have full bangal……. then remember 50%of that glory will go to hindus……………..

Lol, did you even read my post?

 

[Pan-Islamic-Pakistan]

I sincerely wish the best for BD and more importantly the people of BD.

We don’t have to compare ourselves to the other.

We both have different places in the world and different roles to play.

Just accept the differences and move on.

 

[UKBengali]

12:00 AM, March 26, 2019 / LAST MODIFIED: 02:53 PM, March 26, 2019
BANGLADESH vs PAKISTAN
A tale of two economies

Sajjadur Rahman

The infamous quote 'Bangladesh is a bottomless basket' made by then US Secretary of State Henry Kissinger in 1974 has already been proved wrong.

In 1971, when Bangladesh achieved independence from Pakistan through a nine-month-long bloody battle that cost the lives of three million people, many doubted the survival of the new country.

But those concerns have dissipated long ago. In five years' time, Bangladesh is tipped to be a middle-income country.

Bangladesh's per capita income is estimated to be $1,909 at the end of the fiscal year, up from $120 in 1972.

Pakistan's per capita income stands at around $1,700 now from $180 in 1971.

Bangladesh is likely to be the biggest mover in the global GDP rankings in 2030, becoming the 26th largest economy in the world from 42nd last year, according to the latest HSBC Global Research report.

The report -- The World in 2030: Our long-term projections for 75 countries -- showed Bangladesh's economy would jump 16 notches, the highest by any country between 2018 and 2030. Bangladesh is now the world's second largest apparel exporter after mighty China, and its entrepreneurs have achieved that with imported machineries and raw materials.

The country exported $36.6 billion worth of goods in fiscal 2017-18, in contrast to Pakistan's just $23 billion.

Bangladesh's foreign exchange reserves is now more than double of Pakistan's less than $15 billion, and the latter's trade deficit is almost four times that of Bangladesh.

Pakistan's currency Rupee is now trading well below the value of Bangladesh's Taka: Tk 84 fetches one US dollar, whereas it costs more than Rs 140 in Pakistan.

Also, Bangladesh has made considerable progress in social sectors such as poverty reduction, health, family planning, female education, women's empowerment and child mortality reduction despite some challenges like governance crisis, corruption and political instability.

For example, the average life expectancy at birth has risen to 73 years in 2018 from less than 40 in 1971. The child mortality rate fell gradually from 224.6 deaths per 1,000 live births in 1968 to 32.4 deaths per 1,000 live births in 2017. The literacy rate has more than doubled since 1970.

So, its independence 48 years ago was for the better. This is the beauty of freedom.

Ultimate proof of how BD was being exploited up to 1971.

 

[Pan-Islamic-Pakistan]

Ultimate proof of how BD was being exploited up to 1971.

Give it a rest.

You are independent now. Those people who ruled at that time are dead.

Move on.

 

[DESERT FIGHTER]

The only failure of Pakistani Govt to waste money on Infrastructure instead of subsidies to exporters. We wasted billions on building world class motarways, while Bangladesh supported it's Garment sector.

The only difference b/w Pak and BD is their garment sector.

Give us energy and our Textile industry will outdo any in south asia.

Due to energy shortages and subsidies several textile industrialists even moved to Bangladesh. The rest is running on less than half the capacity.

We can reverse the trend.

 

[That Guy]

Pakistan faced war on terrorism from 2004-2015 which enabled India to move ahead and BD to close the gap . Now only that but we have housed around 5 million Afghan refugees in the world the most for any country in the world . Our defence budget is much bigger than yours because of threat from India . And despite all that our PPP per capita is bigger , Our Cities look much better (BD cities look like Baghdad or Mosul ) . We definitely have much diverse exports than you guys which is only dependant on garments . Your Political Class are much more corrupt than ours . IK is miles ahead than Haseena and is loved by his own people . Have a look at recent Happiness Index by United Nations which says we are ahead in per capita , social support , Generosity , Freedom to make choices etc .

In the long run PK will get ahead again like always due to its strategic location and its people simply being much more resilient . We have much more natural resources . There is talk of Big oil reserves coming up in Karachi . PK historically since 1947 has been ahead than Both and India and BD . Only the war on terrorism reversed that. With us having a leader like IK and terrorism on its last legs its only a matter of time before we go ahead once again .

Pakistan is already ahead. These figures are misleading, as BD's calculations are based upon more recent base years, while Pakistan's calculations are based upon extremely old base years.

BD is still stuck in low development, while Pakistan is forging ahead, despite the troubles it has faced in the last few decades.

If the oil reserves prove to be correct, and are exploited properly, the gap between BD and Pakistan is only going to widen further.

[Edit] I should add, the reason why Pakistan hasn't updated its base year is because there is no point. All is does is inflate numbers to appear bigger, it doesn't change national budgets, or ground realities. There is a reason why Pakistan has a higher baseline for poverty income than India and BD, that being Pakistan has a better income distribution than the other two.