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Bangladesh tops India in GDP growth

Staff Correspondent || shiningbd

Published: 16:51, 14 October 2020   Update: 16:51, 14 October 2020
Bangladesh tops India in GDP growth

File Photo

The International Monetary Fund (IMF) has predicted that Bangladesh's per capita gross domestic product (GDP) will surpass that of India this year due to the Corona's push.

According to the IMF's World Economic Outlook released yesterday (Tuesday), Bangladesh's per capita GDP in could rise by 4 percent to$ 1888 in the current calendar year. On the other hand, India's per capita GDP is expected to fall by 10.5 percent to 1,877, the lowest in four years.

According to the Economic Times and Business Standard, India is the third poorest country in South Asia due to coronavirus hurtle. Only Nepal and Pakistan are lagging behind them. However, besides Bangladesh, Bhutan, Sri Lanka and Maldives are ahead of India.

GDP per capita is a measure of a country's per capita output, which is calculated by dividing the gross domestic product (GDP) by the total population of that country.

GDP per capita is an important indicator of economic performance. GDP per capita is particularly effective when comparing one country with another, as it shows the comparative performance of countries.

According to the World Economic Outlook database, India is the second-worst affected country in South Asia after Sri Lanka in the novel Coronavirus. The economic progress of Nepal and Bhutan is better than that of India in this calendar.

IMF figures predict India's progress again in 2021. At that time, the neighboring country maybe a little ahead of Bangladesh.

In 2021, India's per capita GDP will grow by 8.2 percent to $2,030. In contrast, Bangladesh's progress could be 5.4 percent i.e. $1,990.

Even five years ago, India's per capita GDP was about 40 percent higher than Bangladesh's.