BD almost catches up with India in GDP PPP per capita

[Chakar The Great]

So happy to know that.

 

[UKBengali]

PPP or not, it won't matter for anyone even if it becomes double of India, consumption is a component of GDP, so if Bangladesh lags behind in consumption then its high per capita income stats make no sense.

Dude, you are totally out of your depth here.

Please read and learn about the difference between income and wealth.

Once you understand those two things, then you would appreciate how BD consumption will grow faster than India's till it catches up and eventually surpasses it.

 

[Kyusuibu Honbu]

Whats there to comment either way, bangladesh's per capita income becomes twice of India for all we care. Its population will not enjoy imaginary stats. India's 'prosperity' so far so to speak is very well visible in the form of consumption data, infrastructure, etc.

A country of 166 million having GDP per capita comparable to nation 1.3 billion IMO was a sign of lowered expectations, but if its happiness for them so be it

Would have been interesting if Bangladesh races India in overall GDP

 

[damiendehorn2]

A country of 166 million having GDP per capita comparable to nation 1.3 billion IMO was a sign of lowered expectations, but if its happiness for them so be it

Would have been interesting if Bangladesh races India in overall GDP

So a country with a population that's less then 1/8th the size should compete in overall GDP size?

 

[Paitoo]

I wish Bangladesh all the success and prosperity. Maybe I can retire in Bangladesh in my old age. Bengalis are very nice people and have delicious food.

Not being sarcastic.

 

[EasyNow]

I wish Bangladesh all the success and prosperity. Maybe I can retire in Bangladesh in my old age. Bengalis are very nice people and have delicious food.

Not being sarcastic.

Funnily enough, I often think that myself - and I have a very comfortable life in the UK (mashallah)

Service, food and friendly people are a blessing for BD

 

[Paitoo]

Funnily enough, I often think that myself - and I have a very comfortable life in the UK (mashallah)

Once you leave the country it is very difficult to come back. I never left India, and now I find it a blessing, notwithstanding the fact that during my younger days I was very keen to move out and treated it as a status symbol. Now I can't live anywhere except India. Your country is your country. Of course my position of privilege makes my life a lot more better.

 

[Cheepek]

Dude, PPP is not obtained from any government statistic but a measure of the relative cost of a basket of goods and services across countries.

The average BD’shi has caught up with an Indian in living standards, although Indians still have greater accumulated wealth. That is why for some time Indians will still have higher consumption figures across a range of goods and services.

GDP PPP = nominal GDP in own currency/ PPP exchange rate.

Cooked up nominal GDP is directly proportional to GDP PPP.

 

[fallstuff]

With an energy crisis, I am not sure how it's going to move forward from this point on.
Garments owners are screaming for power.

Hasina missed the boat on off shore energy exploration.

 

[EasyNow]

Once you leave the country it is very difficult to come back. I never left India, and now I find it a blessing, notwithstanding the fact that during my younger days I was very keen to move out and treated it as a status symbol. Now I can't live anywhere except India. Your country is your country. Of course my position of privilege makes my life a lot more better.

I've actually never lived in BD and I'm still relatively young - but compared to retirement in the UK, Iv no doubt BD will be better.

I'd rather have several servants in my own big bangla in a warm country than rely on my children in cold, stressful UK.

In fact, I think every non resident BD or Indian should consider retiring back home. Good for the economy, good for your spirit and less burden on your children.

 

[Black Tornado]

GDP PPP = nominal GDP in own currency/ PPP exchange rate.

Cooked up nominal GDP is directly proportional to GDP PPP.

Their ridiculous PPP exchange rate of 0.4 compared to 0.3 of rest of the developing asia itself should be enough to puncture their BS. Also last year I heard their PPP GDp was some $800 to $900bn how did it suddenly become $1.3 tn?

Dude, you are totally out of your depth here.

Please read and learn about the difference between income and wealth.

Once you understand those two things, then you would appreciate how BD consumption will grow faster than India's till it catches up and eventually surpasses it.

I didn't bring wealth, any country buys when they have money and that reflects in economy, less wealthy nations have less consumption power hence lower GDP. Your consumption figures are too off to be considered minor difference.

 

[Abu Shaleh Rumi]

Fuel and power shortage will fukup everything...

 

[Cheepek]

Their ridiculous PPP exchange rate of 0.4 compared to 0.3 of rest of the developing asia itself should be enough to puncture their BS. Also last year I heard their PPP GDp was some $800 to $900bn how did it suddenly become $1.3 tn?


I didn't bring wealth, any country buys when they have money and that reflects in economy, less wealthy nations have less consumption power hence lower GDP. Your consumption figures are too off to be considered minor difference.

As per World Bank, till last year PPP conversion for BD was ~32 BDT/ $1 and for India was ~23 INR/ $1

PPP conversion factor, GDP (LCU per international $) - Bangladesh, India | Data

PPP conversion factor, GDP (LCU per international $) - Bangladesh, India from The World Bank: Data

data.worldbank.org

That means for every 1$ worth goods basket in US, a Bangladeshi has to spend ~32 Taka and an Indian has to spend ~23 rupees.

That makes an Indian's purchasing power ~30% more than a Bangladeshi.

But as per op, IMF estimates for 2022 itself has a difference of just $300.
Better for IMF not to take BBS numbers at face value.

 

[mb444]

Agreed and this is actually a reflection of the enormous strides that BD has made in import substitution over the last decade.

Things made in BD are cheaper than imports and so that pushed the PPP numbers up as the IMF has confirmed.

Absolutely, the seminal paper on PPP and its shortfall is detailed in the famous paper below.

PPP has its uses but GDP per capita is the true measure by common consensus. Check it out when you have time.

A country of 166 million having GDP per capita comparable to nation 1.3 billion IMO was a sign of lowered expectations, but if its happiness for them so be it

Would have been interesting if Bangladesh races India in overall GDP

That wont happen. India lets say is 8-10 times the size of BD. In absolute terms BD is unlikely to ever exceed indian economy without something catastrophic happening in india and something miraculous happens in BD simultaneously.

 

[UKBengali]

Absolutely, the seminal paper on PPP and its shortfall is detailed in the famous paper below.

PPP has its uses but GDP per capita is the true measure by common consensus. Check it out when you have time.

The actual point of this thread is to destroy once and for all the argument that BBS "fakes" the GDP data.

As PPP does not rely on BD government statistics, then we are not seeing the usual BD trolls arguing that the data is not real.

I expect that as the proportion of goods and services provided by BD companies to rise relatively quicker than India over the course of this decade, when compared with 1%+ extra GDP growth as we have seen over the last decade, then BD would be around 20% higher in per capita PPP by 2030.