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In terms of GDP per capita, Bangladesh has overtaken neighboring India in fiscal year 2020-2021.
According to the International Monetary Fund (IMF) World Economic Outlook (WEO) report, India’s GDP per capita could fall by 10.5 percent to এক 1,008, the lowest level in four years. The strong economic recession has caused a slowdown in growth due to a nationwide crackdown on the coronavirus epidemic. On the other hand, the GDP per capita in Bangladesh has increased by 4 percent to $ 1,600.
Per capita GDP is a global measure of a country’s prosperity, and economists use per capita income growth in addition to GDP to analyze a country’s prosperity. It is calculated by dividing the GDP of a country by the total population of the country.
It should be noted that GDP has been calculated at current prices for both Bangladesh and India. According to WEO figures, India will be the worst hit by the epidemic in South Asia after Sri Lanka. GDP per capita is expected to decline by 7 percent in the current financial year.
By comparison, Nepal and Bhutan are expected to strengthen their economies this year, while the IMF has not released data on Pakistan for 2020 or beyond.
The IMF has hinted at an economic recovery for India next year, with India outperforming Bangladesh by a small margin in GDP per capita in 2021.
In dollar terms, India’s GDP per capita will grow by 6.2 percent in 2021, compared to Bangladesh’s GDP per capita of 5.4 percent. The GDP per capita in India will be $ 2,030, Bangladesh will be $ 1,999.
The economic boom in India is the largest among the major economies and major emerging markets, except Italy and Spain.
Among the BRICS countries, Brazil’s economy will grow 5.6 percent, Russia 4.1 percent, South Africa 6 percent and China 1.9 percent, according to the IMF report.
According to the IMF’s ‘World Economic Outlook: A Long and Tough Rise’, Bangladesh’s GDP growth slowed to 3.7 percent in 2020 and will rise to 4.4 percent in 2021, as will other economies. emerging.
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